Medic

Manufacturing of medical devices in Malaysia is expected to grow with expected value of RM28.8 billion in 2020 at a CAGR of 11.6%. Rubber gloves continued to dominate its contribution in medical device sector almost 80% with CAGR 7.15% within the first half of 2020. Exports for made-in-Malaysia medical devices was consistent between 2015 and 2018; however, in 2019, the demand for Malaysia medical devices grew more than 2 times its value to USD 9.5 billion from USD 4.5 billion that was recorded in 2018.

Malaysia pharmaceutical market is growing on year on year basis with projected CAGR of 18.18% between 2016 and 2020. Malaysia pharmaceutical market is estimated to expand to USD 3.6 billion. The growth of Malaysia pharmaceutical resonates with total Malaysian Health Expenditure that has been increasing from RM 9,917 million in 2010 to 21,573 million in 2017. Pharmaceutical products imported to Malaysia were far greater than Malaysia pharmaceutical exports. In 2018 the import of pharmaceutical were RM 6,375 million compared to export that was reported at 762 million for the same year.

Malaysia is one of the popular destinations in medical tourism. In 2018, it has been recorded that 1.2 million tourist has travelled to Malaysia for medical consultation and treatments; an increase by 40% when compared to 2015 where only 859,000 has travelled to Malaysia for the same purpose. Within the same period, the revenue has also surged from RM 914 million in 2015 to RM1,500 milion in 2018, a promising revenue increase by 64%.

Vitamins & Dietary Supplements was the biggest contributor in Malaysia Nutrition Supplement Industry contributing more than 50% of the sales of Consumer Health in Malaysia as reported in 2017. The import of nutrition supplements has also expanded with CAGR of 30.40% reported between 2016 and 2018. The key driving forces for the expansion of the nutrition supplements industry in Malaysia are changes in lifestyle and growing awareness towards health.