2014-01-10 23:36:04 - The Medical Device Market: Malaysia - a new market research report on companiesandmarkets.com
Our in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy.
The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
Malaysias medical devices and supplies are
mainly imported, especially the more technologically advanced items. We estimate current growth in the market to be a strong 9.1% per year, reaching US$1.9 billion, or US$61 per capita, by 2016.
Malaysias major natural resource is rubber, and the countrys medical device exports are dominated by latex products such as surgical gloves and catheters, which together accounted for 59.1% of the export total in 2009. The share of these two sub-categories has slowly started to diminish with the steady growth of diagnostic imaging exports in recent years, particularly electrocardiographs and other electrodiagnostic apparatus.
The Malaysian government has attempted in recent years to encourage domestic manufacturers to expand production into more technologically advanced products and develop services such as Information and Communications Technology and other support related services. This has been detailed in the Third Industrial Master Plan 2006-2020.
In the five years from 2005 to 2009, imports rose at a CAGR of 10.3%. Imports are expected to continue growing at a strong rate, in line with rising health expenditure growth, and the countrys heavy reliance on imports to meet its healthcare needs.
The Medical Device Bill, Malaysias first set of medical device regulations, was finalised in March 2008, and the next step will be for it to be tabled and approved by parliament. There is currently no mandatory registration for medical devices, but this is expected to change, along with the other related regulations involving production and importation of medical devices, including surveillance and monitoring.
Includes 3 quarterly updated outlook reports!
Please note: Report sections are periodically updated and some sections may have been updated more recently than the publication date given for the full report.
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