Malaysia could increase its R&D activities in the lucrative medical tech sector

Despite making good strides in medical technology, Malaysia will still need to intensify its research and development (R&D) activities to stay ahead of competitors, particularly from its direct Southeast Asian neighbourhood.

Indeed, the presence of large contingents of Southeast Asian exhibitors of medical devices, tools and other accessories at the recent MEDICA 2017 exhibitors in Dusseldorf - this is the world's largest exhibition for these products - was an indication that competition will get fiercer with time.

The MEDICA, held Nov 13 to 16, has also become a barometer to measure the innovativeness of international companies in the field of medical technology.

"Innovations showcased at this exhibition also become a source of windfall business for companies and the countries they represent," Arnold Schweitzer, a medical consultant who is aware of the products coming from the Asia Pacific region, said.

According to the German Medical Technology Association BVMed, the medical technology industry expects to see an increase of almost six % in its global turnover, and this will be driven by dynamic developments in the export market.

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