Healthcare to contribute RM19.6bil to economy in 2024

Malaysia External Trade Development Corp chairman Datuk Seri Reezal Merican Naina Merican: "I want the whole ministry to focus on treating the people's anxiety and restoring their confidence.”

BANGKOK: The impressive growth of Malaysia’s healthcare industry has solidified the country’s position as a key player in the global market, says Malaysia External Trade Development Corp chairman Datuk Seri Reezal Merican Naina Merican.

He said this year, Malaysia’s medical device sector is expected to contribute US$4.19bil (RM19.64bil) to the economy, while the pharmaceutical segment has already added over US$1.26bil to the national gross domestic product.

“Last year, Malaysia’s total trade in the healthcare industry was valued at US$11.1bil with exports of healthcare products amounting to US$6.81bil, and total imports totalling US$4.29bil,” he said at the Malaysian International Healthcare Forum during the International Healthcare Week or IHW 2024 here yesterday. — Bernama