KUALA LUMPUR – Malaysia’s medical device exports are expected to rise by 10-12 per cent this year from RM15.53 billion achieved last year supported by tremendous demand.
Malaysia External Trade Development Corporation Chief Executive Officer, Datuk Dzulkifli Mahmud, said the outlook for the medical device industry was promising for Malaysia to continue to record its double-digit growth this year.
In the first quarter of this year (1Q16), the medical device exports rose by 6.2 per cent to RM3.8 billion from RM3.6 billion in the same quarter last year.
“Malaysia has big potentials in the export of medical devices and people trust our products which are of high quality and the prices are competitive compared to others.
“The target is achievable, supported by the recovery in the European economy. Our medical devices are sought after and many (local) players provide a variety of products for export market,” he told reporters on the sidelines of the Seminar and Workshop on Medical Devices here Tuesday.
Dzukifli said the main products that would help boost the exports were from medical instrument, apparatus and appliances segment such as contact lens and ageing rehabilitation.
The segment has grew by 29.8 per cent to RM929.5 million in 1Q16 from RM714.7 million in 1Q15.
For 2015, the segment expanded by 57.3 per cent to RM3.36 billion, while other segments — surgical and examination gloves rose 12.3 per cent to RM8.01 billion, catheters, syringes, needles and sutures (4.3 per cent, RM2.01 billion) and opthalmic lenses (14.5 per cent, RM0.95 billion)
The main export destinations in 2015 were the Netherlands, Belgium, UK, Japan and the US, accounting for 80 per cent of total trade medical devices.