BUSINESS

AMMI: Malaysia among world's top offshore manufacturing hubs for medical devices

01/12/2022 05:10 PM

GEORGE TOWN, Dec 1 (Bernama) -- Malaysia is now one of the world’s top offshore manufacturing hubs for medical devices, with over 290 manufacturing companies operating in the nation’s thriving medical device industry.

The Association of Malaysian Medical Industries (AMMI) chairman Andy Lee Kuan Min said that ten out of 30 global medical technology (MedTech) companies have set up manufacturing facilities in Malaysia.

"From a producer of latex gloves and catheters, the local industry is today recognised as a reliable manufacturer and supplier of a broad range of higher-value medical devices made from electronics, plastic, silicone, and metal alloys. 

"Some of the high-value medical devices manufactured in Malaysia are hearing implants, orthopaedic products, pacemakers, heart valves, and advanced medical systems," he told the reporters at the Malaysia MedTech Industry Summit 2022 today.

Elaborating further, Lee said the success of Malaysia's medical device industry is largely attributable to a winning combination of proven manufacturing history, multilingual talent, ease of doing business, and well-connected local supply chains along with supportive institutional and policy frameworks.

Earlier, Penang chief minister Chow Kon Yeow in his keynote address said Penang remains a highly attractive location as it has the availability of infrastructure and ecosystem that matches the needs of the MedTech sector.

Penang is often lauded as a vibrant hub and is poised to be on par with Puerto Rico, Ireland, and Costa Rica which are frequently acknowledged as the top offshore manufacturing hubs for medical devices in the world, he said.

"Penang's strong supporting and ancillary industries have generated tremendous scale for the MedTech industry.

"The state government will focus on ensuring sustained growth in the MedTech industry, especially on talent and infrastructure availability," he added.

The Malaysia MedTech Industry Summit 2022 held today was organised by AMMI in conjunction with Penang's 50 anniversary of industrialisation, with support from the Malaysian Investment Development Authority, Invest Penang, and Penang Development Corporation.

-- BERNAMA

 

 


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