NIBONG TEBAL, Jan 21 — The medical devices industry is expected to remain stable and achieve double-digit growth this year, despite the increasingly challenging conditions in the global economy.
Malaysia External Trade Development Corporation (Matrade) Chief Executive Officer Datuk Dzulkifli Mahmud said from January to November last year, exports of medical devices rose by 13.6 per cent to RM14.1 billion.
“In 2014, within the same period, revenue from the export of medical devices was RM12 billion, so it has increased,” he told reporters after opening a seminar on medical devices themed “Competing in Regulated Industry-Complying with Global Regulatory Requirement” here today.
He said Malaysia’s market leadership and strategic approach in product sectors such as medical latex gloves would help the medical devices export sector to register steady and positive growth.
“Fifty-two per cent of the total revenue from medical devices last year was from latex gloves and 48 per cent from the non-glove industry,” he said.
Dzulkifli said the non-glove medical devices included medical instruments as well as disposable tubes for intravenous and orthopaedics appliances.
“With the Asean Economic Community (AEC) and the signing of the Trans-Pacific Partnership Agreement (TPPA), we hope to achieve double-digit growth this year,” he said, adding that Matrade is looking to increase the number of programmes to further push exports of medical devices.
He said the establishment of the AEC last year was a major milestone in the ASEAN regional economic agenda and the TPPA would offer greater market access for the industry.
“We will be participating in three major trade exhibitions — Arab Health in Dubai, Medica Singapore and Medica Dusseldorf — where there will be many international buyers.
“Our main export destinations for medical devices are the United States, Germany, Japan and Singapore, and we are now aiming for Turkey and Chile,” he said. — Bernama
