The exports of Malaysian medical devices are set to rise to RM21.37 billion, surpassing the RM19.78 billion it raked last year, thanks to the rising global healthcare demand, said Malaysia External Trade Development Corp (Matrade).
Its Director of Lifestyle, Life Sciences and Medical Devices Section, Abu Bakar Yusof, said the growth would be in line with the higher global healthcare expenditure, which was projected to reach US$8.7 trillion by 2020.
"According to a poll by audit firm, Deloitte, annual healthcare spending in the world's major regions would rise to 7.5 % in 2020 from 2.4 % in 2015 to cater to the needs of the ageing population as well as to prevent the spread of infectious diseases.
"Therefore, based on the external demand, coupled with the readiness of the local industry players, which have started to give more emphasis on exports, we expect the medical devices exports to reach RM21.37 billion this year," he said.
Abu Bakar said also saidhis section would continue to participate in major medical devices-related events to develop initiatives and cater to the industry's export promotional needs, in order to boost exports of medical devices.