Updated on 14 May 2013
Malaysia is emerging as a bioscience hub for international life science companies by providing them smooth passage to set up manufacturing plants
Malaysia is now emerging as a manufacturing hub for international pharmaceutical companies and provides them smooth passage to set up manufacturing plants. The country is equally focused on boosting its medtech, pharmaceutical and biotech industry.
Medical devices is the buzzword
Malaysia is strongly focusing on its medical device industry, which is currently a highly diversified industry that produces a broad range of products and equipments ranging from medical gloves and implantable devices to orthopaedic devices and dialysers. It also includes diagnostic imaging equipment and minimal invasive surgery equipment as well as other devices used for surgical, dental, optical and general health purposes.
According to Malaysia Investment Performance Report 2012 by Malaysia Investment Development Authority (MIDA), the market is expected to grow by 15.9 percent annually to hit $2.8 billion by 2017. The medical devices industry in Malaysia is dominated by small and medium-sized companies, engaged in the production of medical gloves and other medical disposable products.
There are currently more than 180 medical device manufacturers in the country including major MNCs such as Ambu, B. Braun, C.R. Bard, Ciba Vision, Meditop Corporation, St. Jude Medical, Symmetry Medical, Accellent and Teleflex. Multinational companies in Malaysia are involved in the production of higher value products such as orthopaedic products, surgical instruments, medical electrodes, safety intravenous cannulae, pacemakers, defibrillators, dialysers and ophthalmic lenses.
With focus on medical devices, Malaysia is positioning itself as an ideal location for investments in the medical devices sector due to its strong intellectual property protection regime and a strategic geographic location. The Medical Device Act 2012 provides the mandatory framework for medical devices registration in Malaysia and sets the requirements for medical device products registration, establishment licensing and conformity assessment body (CAB) registration.