WITH the Malaysian medical device market projected to hit USD2.8bil (RM9.9bil) by 2018, UWC Holdings Sdn Bhd, a specialist manufacturer of precision components and electro-mechanical parts, is investing RM100mil for a new plant in Seberang Prai to focus on manufacturing medical devices.
According to Espicom, a UK-based research company, the local medical device market is expected to grow at a 16.1% compounded annual growth rate from USD1.35bil to USD2.8bil in 2018, driven by consumables and dental products.
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