Malaysia's Medical Device Exports Hit New Heights Of RM19.78 Bln in 2017

KUALA LUMPUR, Nov 26 (Bernama) -- Malaysia’s exports of medical devices reached historic heights of RM19.78 billion in 2017, up 24.9 per cent from 2016, said the Malaysia External Trade Development Corporation’s (MATRADE). At a pro-rated growth rate, MATRADE expects the exports of medical devices to break the RM20 billion mark by end-2018. “For the first nine months of 2018, exports of the medical devices to Europe reached RM5.2 billion, a 12.9 per cent per cent increase from the same period last year,” Director of Lifestyle and Life Sciences Abu Bakar Yusof said in a statement Sunday. He noted that the increase was partly attributed to Malaysia’s participation in world’s large-scale events such as the Arab Health and MEDICA.  At the recent participation in MEDICA 2018 in Dusseldorf, Germany from Nov 12-15, he said Malaysia obtained good results with export potential valued at RM257.74 million, an increase of 24.4 per cent compared to 2016. The event was participated by 10 Malaysian companies and the initiative was MATRADE’s sixth involvement in the premier healthcare trade event in the European Union since 2012. The companies taking part at the event represented various medical device sectors such as diagnostic and test kits, sanitisers and disinfectants, medical graph paper, innovative sheath contraceptives, as well as medical components. MEDICA, for instance, has more than 5,000 exhibitors with over 120,000 visitors, and the region’s healthcare expenditure is expected to reach RM530 billion by 2020. “For MATRADE, we believe our presence in such exhibition will elevate Malaysia’s medical device sector and enable our companies to grow further for many years to come,” he added. -- BERNAMA