Medical devices exports poised for double-digit growth - MATRADE

KUALA LUMPUR, Feb 24 (Bernama) -- The medical devices industry in Malaysia is poised for strong growth with exports projected to continue registering double-digit expansion this year.

The Malaysia External Trade Development Corporation (MATRADE) said the sector registered 16 per cent growth to RM22.96 billion in 2018 compared with RM19.7 billion recorded in 2017.

“We are hopeful that medical devices exports will continue registering double-digit growth for 2019. The industry is slated to become a major contributor to exports in the years to come.

“We are currently working closely with relevant industry players and associations to identify the means by which MATRADE can assist Malaysia’s medical devices industry to grow further, globally,” said Abu Bakar Yusof, director, Lifestyle and Life Sciences Section in a statement today.

He said good momentum was generated from MATRADE’s participation in annual activities such as the ‘Arab Health’ expo.

The feedback received from the participating companies at the expo, the past two years, has been overwhelmingly positive.

Arab Health 2019, held recently in Dubai, United Arab Emirates, featured more than 4,200 exhibitors from over 150 countries.

MATRADE's specialised mission to the event generated RM370 million in revenue compared with RM367 million achieved at the 2018 expo.

-- BERNAMA