GEORGE TOWN: Malaysia’s ageing population and growing healthcare needs are creating opportunities for companies, engineers and startups to venture into medical technology (MedTech).
Deputy Investment, Trade and Industry Minister Sim Tze Tzin said Malaysia had already developed a strong medical devices ecosystem, with more than 300 companies operating in the sector.
He said the country is also among the world’s major medical device manufacturing hubs, with a growing mix of multinational corporations (MNCs) and local companies.
“We want to encourage more companies, engineers and startups to venture into medical technology because Malaysia and the world are getting richer, people are living longer, ageing and facing more medical issues.
“This creates an opportunity for healthcare and medical technology companies to innovate and get into this space,” he said after visiting a MedTech exhibition and summit organised by the Association of Malaysian Medical Industry.
Sim said Malaysia’s medical device exports reached RM34.5 billion in 2025, with the sector targeting RM50 billion by 2030.
He said the target could be supported by greater localisation and increased participation by Malaysian companies across the MedTech value chain.
Sim said MNCs should not only leverage Malaysia’s workforce and manufacturing facilities, but also help raise the capabilities, expertise and technological capacity of local companies.
“What we want is for multinational companies not only to come here to manufacture, leverage on our labour and facilities, but also to bring, raise and improve the capabilities, expertise and technology of local companies,” he said.
He said greater localisation would allow Malaysian companies to benefit from the presence of MNCs while strengthening the country’s position as a global medical devices hub.
Local companies, he said, could start by supplying components or services to MNCs before developing their own products, innovations and businesses.
“Start by supplying to MNCs. After that, they should innovate and become their own companies,” he added.
Sim also highlighted the resilience of the MedTech sector, saying demand for medical devices was driven by long-term healthcare needs rather than economic cycles.
“Medical devices are not subject to cyclical recessions. This is an evergreen sector that keeps going up because of healthcare. Regardless of whether there is a recession, people get sick and they will need healthcare,” he said.
He said Malaysia had a pool of engineers, innovators and research and development experts who could contribute to the sector’s expansion.
Greater local participation, he added, would help Malaysia move beyond being a manufacturing base towards developing higher-value capabilities, technologies and home-grown MedTech companies.
https://www.nst.com.my/news/nation/2026/10/1548923/ageing-society-creates-opportunities-malaysias-medtech-sector