{"id":39208,"date":"2023-07-18T13:58:02","date_gmt":"2023-07-18T05:58:02","guid":{"rendered":"https:\/\/investpenang.gov.my\/press-release-driving-penang-as-a-premier-medical-device-manufacturing-hub-in-asia\/"},"modified":"2025-11-28T13:38:11","modified_gmt":"2025-11-28T05:38:11","slug":"press-release-driving-penang-as-a-premier-medical-device-manufacturing-hub-in-asia","status":"publish","type":"post","link":"https:\/\/investpenang.gov.my\/zh-hans\/press-release-driving-penang-as-a-premier-medical-device-manufacturing-hub-in-asia\/","title":{"rendered":"[Press Release] Driving Penang as a Premier Medical Device Manufacturing Hub in Asia"},"content":{"rendered":"

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[Press Release] Driving Penang as a Premier Medical Device Manufacturing Hub in Asia<\/h1>\n

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18 July 2023<\/p>\n

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\u00a0Click\u00a0here<\/a>\u00a0to view more photos<\/em><\/p>\n

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July 18, 2023 \u2013 <\/strong>InvestPenang organised an exhibit and dialogue session for the local medical devices manufacturers with Ministry of Health (MOH), Medical Device Authorities (MDA) and Ministry of International Trade and Industry (MITI), as part of the State\u2019s efforts to promote locally manufactured medical devices. The session gathered 13 local key manufacturers in the medical device industry with the aim to enable local manufacturers to showcase their product offerings to the ministries\u2019 representatives.<\/p>\n

Yang Berhormat Dr. Zaliha Binti Mustafa, Minister of Health, Yang Berhormat Tuan Liew Chin Tong, Deputy Minister of MITI, Yang Berhormat\u00a0 Tuan Sim Tze Tzin, MP of Bayan Baru, Yang Berbahagia Datuk Dr. Muhammad Radzi bin Abu Hassan, Director General of Health, Dr. Muralitharan Paramasua, Chief Executive of MDA, and Dr. Fazilah Shaik Allaudin, Penang State Health Director attended the event, which was hosted by Dato\u2019 Loo Lee Lian, CEO of InvestPenang.<\/p>\n

Penang proudly hosts six of the global top 30 medical device companies (by sales), namely Abbott, Boston Scientific, B Braun, Smith+Nephew, Canon Medical Systems and Pentax Medical. Notably, Penang’s manufacturing capabilities focus on high-value medical devices, including cardiovascular products, orthopaedic implants and precision tools.<\/p>\n

In tandem with the global expansion, Penang\u2019s exports in professional, scientific and controlling instruments and apparatus (including medical devices) are on an upward trend, contributing about 67% on average of Malaysia\u2019s total in the mentioned industry in 2018-2022. Penang has garnered RM6 billion in approved manufacturing investments in Scientific & Measuring Equipment (including medical devices) in 2018-2022, representing 46% of the country\u2019s said total and is on the right trajectory of becoming the MedTech hub for Asia, equivalent to the world\u2019s top offshore MedTech hubs like Puerto Rico, Ireland and Costa Rica.<\/p>\n

The Asian region has emerged as the fastest-growing market for the MedTech industry, with a projected 5-year compound annual growth rate (CAGR) of 6.8%. The Asian market is estimated to reach a value of US$147 billion by 2027.<\/p>\n

Over the years, Penang has successfully cultivated a matured medical device ecosystem, with the growing number of emerging local MedTech players. The medical device industry expansion in Penang is largely a spin off and attributed to the matured electrical and electronics (E&E) supply chain, which seamlessly integrates into the production of medical devices.<\/p>\n

The session today showcased the local manufacturers capabilities, potential market opportunities, as well as ecosystem for technology transfer, commercialisation and marketing of local R&D products. \u00a0The 13 exhibiting local companies presented their products, innovative ideas and solutions in the MedTech space. The exhibited products included orthopaedic implants, medical disposable products, test kits, single-use devices, inhaler, among others.<\/p>\n

During the closed dialogue session moderated by Dato\u2019 Loo Lee Lian, CEO of InvestPenang, local medical devices manufacturers took the opportunity to post questions to Yang Berhormat Tuan Liew Chin Tong, Deputy Minister of MITI, Yang Berbahagia Datuk Dr. Muhammad Radzi bin Abu Hassan, Director General of Health, and Dr. Muralitharan Paramasua, Chief Executive of MDA. The discussion was mainly surrounding the current challenges that the local medical devices manufacturers are facing, highlighting the possible resolution on the matter raised and potential local procurement.<\/p>\n

Notably, today\u2019s event displayed Penang\u2019s capabilities to the ministries and opened up opportunities for the local MedTech players to contribute to Malaysia\u2019s healthcare system.<\/p>\n

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About InvestPenang<\/strong>
\nInvestPenang is the Penang State Government\u2019s principal agency for promotion of investment. Its objectives are to develop and sustain Penang\u2019s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centres. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs) and Penang CAT Center (for talent attraction and retention). For more information, please visit\u00a0https:\/\/investpenang.gov.my\/<\/a>\u00a0and follow InvestPenang\u2019s social media channels:\u00a0Facebook<\/a>; \u00a0LinkedIn<\/a>.<\/p>\n

Media Contacts<\/strong>
\nInvestPenang
\nElaine Cheah \/ Michelle Goy
\nelaine@investpenang.gov.my<\/a> \/ michelle@investpenang.gov.my<\/a>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”120px” el_class=”height-x120″][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

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18<\/h2>\n
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