Medic

The ASEAN medical device industry, impacted by COVID-19, saw fluctuating export and import values from 2016 to 2020. Malaysia grew in medical consumables, particularly rubber gloves and catheters. The medical devices market size in Malaysia risen up from 2019 to USD 4.8 billion and dip down to USD 3.7 billion. It is projected that the value of industry market will reach USD 5.6 billion by 2030. Overall, Malaysia’s medical device sector shows resilience, with strong export growth and strategic focus on innovation, R&D, and regulatory improvements for sustainable development.

Malaysia is a leading medical tourism destination in ASEAN, attracting 1.2 million tourists annually with affordable, high-quality healthcare. Key specialties include cardiology and orthopaedics, supported by robust infrastructure and a skilled workforce. The market is projected to reach USD 688 million by 2030. Overall, with a focus on affordability, quality, and accessibility, Malaysia is well-positioned to strengthen its status as a preferred destination for international patients seeking top-notch medical care.

The pharmaceutical industry is set for significant growth, driven by technological advancements, rising non-communicable diseases (NCDs), and demand for personalized medicine. Key innovations in oncology, immunology, and neurology are vital, but challenges like regulatory hurdles and high R&D costs remain, particularly in ensuring drug affordability in low- and middle-income countries. With a projected CAGR of 6.72%, the industry’s prospects are promising, relying on strategic investments and collaboration among stakeholders to address global healthcare needs and sustain its impact.

Malaysia’s medical device manufacturing sector has shown strong growth, particularly in rubber gloves and other medical devices, bolstered by government support. While exports remained steady from 2012 to 2016, an aging population and rising lifestyle diseases are set to drive future demand. Additionally, the transition to Industry 4.0 will enhance productivity and efficiency through smart manufacturing technologies. Overall, these elements collectively position Malaysia’s medical device industry for significant growth and innovation ahead.

Malaysia’s pharmaceutical market is poised for significant growth, largely driven by the private sector, which dominates medical goods sales. With projections based on historical performance, using a CAGR of 18.18% the market is estimated to reach a sizable RM 22.6 billion by 2020. The aging population, expected to reach 5.6 million seniors by 2035, will increase demand for long-term healthcare. Together, these trends present substantial opportunities for healthcare providers to meet the evolving needs of the population.

Malaysia is a leading global destination for medical tourism, ranking high in care quality and affordability. For 2016, Malaysia recorded revenues of USD 270.3 million from 921,000 medical travellers, which is a 25.8% increase over 2015’s level. It is predicted that revenue will continue to grow from 2017 until 2020 at a CAGR of 20%, reaching a total revenue of RM2.7 billion by 2020 from 1.2 million of medical travellers. Overall, the industry showed an optimistic performance trend.

Malaysia’s vitamin and dietary supplements (VDS) market is on a steady growth trajectory, with sales projected to reach RM2.2 billion by 2019. This growth is fueled by an expanding middle class and an aging population, both driving demand for health products. Sales for VDS products in Malaysia is predicted to increase to RM2.2 billion by 2019 at a CAGR of 3.47% throughout the next 5 years. However, the rising obesity rates and sedentary lifestyles present challenges, as they increase the prevalence of lifestyle-related diseases. To sustain this positive outlook, the industry should focus on promoting healthy living and the benefits of VDS for overall wellness.