GEORGE TOWN: The Association of Malaysian Medical Industries (AMMI) is projecting the overseas sales of medical devices to hit RM16.88bil this year, up 10% from last year’s RM15.35bil.
AMMI chairman Hitendra Joshi said the association was also projecting the exports of AMMI members to grow in tandem with the forecast for the growth in overseas medical device sales this year.
Last year, AMMI members’ export sales were RM6.2bil, or 40% of the RM15.35bil. “Of the RM15.35bil in total exports, medical gloves dominated with a total of RM10.53bil last year. Catheters, syringes, needles and sutures accounted for RM1.57bil.
“The remaining RM3.25bil came from medical and surgical X-ray apparatus, electro-medical equipment, ophthalmic lenses, dental instruments, medical furniture and other medical instruments and appliances,” he added.
Joshi said there had been a steady increase in cumulative investments in the medical device companies of AMMI members over the years, growing from RM1.8bil in 2009 to RM3.4bil last year.
“The AMMI Industry Survey last year showed that 62% of local raw materials and services at a value of RM2.1bil was used for manufacturing medical devices in the country,” he added.
Joshi said whenever possible, AMMI members would source locally, as it was more cost-effective.
As seen in The Star, Business News, 25 June 2014