As featured in the Malaysian Reserve, 15 July 2015
Malaysia’s total export of medical devices is expected to increase by 12% to RM15.11 billion in 2015 on the back of growing demands for better quality of healthcare services and products, said the Association of Malaysian Medical Industries (AMMI).
Azman (left) and Joshi at the launching of AMMI Medical Devices Industry Outlook Report 2015 in Kuala Lumpur yesterday. (Pic by:Hafzi Mohamed/TMR)
Its chairman Hitendra Joshi said based on the export performance trend in the past two year (2014 and 2013), the medical device industry will be able to see a positive growth in 2015.
In 2014, he said total exports of medical devices grew nearly 13% to RM13.5 billion compared to RM11.94 billion in 2013.
Meanwhile, the Malaysian Investment Development Authority (MIDA) CEO Datuk Azman Mahmud said the medical device industry has great promise as it plays a critical role in strengthening the healthcare landscape in this country.
In the first four months of 2015, he said exports totaled RM4.8 billion compared to RM4.2 billion recorded in the same period of 2014.
“Looking at the first quarter’s performance, we expect the momentum will continue. The thriving exports of medical devices made in Malaysia are a reflection of the country’s capability to manufacture high value medical devices such as x-ray apparatus, electro-medical equipment, ophthalmic lenses, dental instruments, medical furniture and other medical instruments and appliances,” he told reporters after the launching of AMMI’s medical device industry outlook report in Kuala Lumpur yesterday.
“This is our competitive and comparative advantage in the light of growing demands for better quality of healthcare services and products, resulting from expansion of population, rising living standards, longer life expectancy, growing affluence and increasing consumer awareness,” he added.
Azman said MIDA has approved a total of 42 projects in the medical device industry with investments of RM2.2 billion and employment creation of 7,300 positions in 2014.
He said about 54% or RM1.2 billion of these investments were from domestic sources while the balance of 46% or RM1 billion were from foreign sources.
For the first quarter of 2015, he said the total investments approved in the medical device industry accounted for RM464.6 million, with more than 82% of them were domestic investments and 18% were foreign investments.
In the pipeline, he said there are 10 projects with investments worth RM600 million for the industry.
As featured in the Malaysian Reserve, 15 July 2015 ( M’sia’s Total Medical Device Export Expecting 12% Increase In 2015 by Premalatha Jayaraman)