Ageing society creates opportunities for Malaysia's MedTech sector
GEORGE TOWN: Malaysia’s ageing population and growing healthcare needs are creating opportunities for companies, engineers and startups to venture into medical technology (MedTech).
GEORGE TOWN: Malaysia's growing aging population and escalating healthcare demands are paving the way for businesses, engineers, and startups to enter the medical technology (MedTech) market. Deputy Investment, Trade, and Industry Minister Sim Tze Tzin revealed that Malaysia already boasts an extensive medical devices ecosystem, with over 300 companies operating in the sector.
He emphasized that the nation is among the world's prominent medical device manufacturing hubs, housing a blend of multinational corporations (MNCs) and local enterprises. Sim expressed a desire to encourage more companies, engineers, and startups to explore medical technology, as Malaysia and the world become wealthier, people live longer, and age-related medical issues arise, thus providing an opportunity for healthcare and MedTech companies to innovate.
The country's medical device exports reached RM34.5 billion in 2025, with a goal of reaching RM50 billion by 2030. Sim stressed that this target could be achieved through greater localisation and increased involvement of Malaysian companies across the MedTech value chain. He urged MNCs to not only utilize Malaysia's workforce and manufacturing facilities but also contribute to elevating the capabilities, expertise, and technological capacity of local companies.
Sim explained that MNCs should extend their presence beyond mere manufacturing to raise and improve the capabilities, expertise, and technology of local companies.
Greater localisation would allow Malaysian companies to capitalize on MNCs' presence while strengthening Malaysia's standing as a global medical devices hub. Local firms could initiate by supplying components or services to MNCs, subsequently developing their own products, innovations, and businesses. Sim highlighted the sector's resilience, noting that demand for medical devices is driven by long-term healthcare needs, which are unaffected by economic cycles.
He affirmed that Malaysia possesses a reservoir of engineers, innovators, and research and development experts capable of driving the sector's expansion. He emphasized that increased local participation would help Malaysia transition from merely being a manufacturing base to cultivating higher-value capabilities, technologies, and homegrown MedTech companies.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
