Ames Gross When you think international medical

Ames Gross

When you think international medical device markets, Malaysia usually isn’t the first on most peoples’ lists. However, the current Malaysian medical device market is valued at about $800 million, and it is growing. The market in Malaysia largely is driven by Western medical device imports, especially for more sophisticated high-end products. Between 2005 and 2010, medical device imports increased at 10 percent annually.

Malaysia has had steady economic growth since 2002. The economy recorded gross domestic product growth of about 5.1 percent in 2011. In April 2011, the prime minister announced “Invest Malaysia 2011,” a plan to attract foreign investment. Foreign direct investment increased by more than 400 percent to $7 billion in 2011. As Malaysia becomes wealthier, with increased healthcare demands, the country will import more sophisticated medical technology from Western companies in the next five to 10 years.