Environmental Scan 2017: Human Capital Issues within the Medical Devices Sector
2.1 Market Size of the Malaysian Medical Device Industry
The Malaysian medical devices market was valued at approximately RM 5.8 billion in 2015. The
medical devices market is expected to register a CAGR of 8.3% for the forecast period between
2015 to 2020. Some of the key drivers for the Malaysian medical devices market moving forward
include government policies aimed at attracting FDIs and creating a positive business
environment, increasing life expectancy, availability of natural rubber for the manufacturing of
rubber based goods and the availability of qualified and experienced talent pool.
Figure 2-1: Market Size of the Malaysian Medical Device Industry
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
-
8,614
5,787
3,983
2010
2015
2020
YEAR
Source: BMI, Ipsos analysis
The medical devices industry in Malaysia can be categorised into five sub-sectors, namely:
i)
Medical consumables
ii) Diagnostic imaging
iii) Orthopaedics and prosthetics
iv)
Patient aids
v)
Other medical devices
2.1.1 Medical Consumables
Medical consumables are items which are not pharmaceutical and are not re-usable. Example of
medical consumables include sutures, syringes, needles, catheters and medical / surgical gloves.
The Malaysian medical consumables market was worth RM1.1 billion in 2015. It registered a
CAGR of 8.8% between 2010 to 2015 and is forecasted to grow slightly faster at a CAGR of 9.7%
between 2015 to 2020. The syringes and needles market is forecasted to register a double digit
growth between 2015 and 2020 and is expected to outperform the contribution from the
manufacturing of surgical gloves. The production of surgical gloves is expected to see a slower
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