Opportunities in the Malaysian MedTech Sector for Dutch Advanced Manufacturing (Brabantse Ontwikkelings Maatschappij)
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Brabantse Ontwikkelings MaatschappijLargest segment
61.6%
Foreign direct investment share of approved medical device investments in 2024 p.17
Summary
- Malaysia is ASEAN's largest MedTech market, home to over 300 multinational and local MedTech firms, with over 90% of locally produced medical devices exported.p.3
- Malaysia has the largest medical device market among key ASEAN countries at €2 billion, ahead of Thailand at €1.7 billion and Vietnam at €1.6 billion.p.10
- The Malaysian MedTech market is projected to grow from $3.68 billion in 2025 to $4.81 billion in 2029.p.16
- Contract manufacturing is projected to grow at a CAGR of around 8% from 2024 to 2030, reaching approximately $5 billion.p.40
- In 2024, foreign direct investment made up approximately 61.6% of approved investments in the medical devices sector, and domestic direct investment 38.4%.p.17
- Over 70,000 people are employed in MedTech, with about 25,000 R&D workers overall.p.18
- Medical device exports amounted to about RM 28.2 billion in 2023.p.21
Key insights
- Malaysia has a labor force participation rate of over 70% and 100,000 annual graduates in STEM and healthcare-related disciplines.p.4
- Government support includes 100% foreign ownership, streamlined expatriate employment, and tax and R&D incentives.p.4
- Malaysia offers access to ASEAN's 600+ million consumers at lower operating costs than Singapore.p.5
- Malaysia's trade-to-GDP ratio is 127.9%, reflecting a highly integrated global position.p.8
- Malaysia hosts over 300 medical device manufacturers, of which more than 30 are foreign MNCs.p.17
- Insulet invested approximately $200 million (RM 1 Billion) in a manufacturing facility in Johor Bahru.p.29
- Masimo invested RM100 million, approximately USD 21 million, in its first medical device production facility in Pasir Gudang.p.29
- Penang's MedTech cluster includes Abbott, Boston Scientific, B. Braun, Smith & Nephew, Steris and Hoya (6 of the top 30 by revenue).p.31
- Straits Orthopedics generates approximately US$30 million annually, with Smith & Nephew accounting for 60% of revenue.p.43
Published by Brabantse Ontwikkelings Maatschappij (funder profile)
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