KUALA LUMPUR: Malaysia is well positioned to tap into the high growth of the global healthcare sector due to Putrajaya’s strong industrial reform agenda, robust industrial ecosystem, progressive policies and investor-friendly environment, said Tengku Datuk Seri Zafrul Abdul Aziz.
The Investment, Trade and Industry Minister (Miti) said that from pharmaceuticals and medical devices to healthcare services and medical tourism, the healthcare sector is a catalyst for high-value job creation, innovation and exports.
According to Tengku Zafrul, the medical devices market is projected to grow by 63% from RM2.53 trillion in 2024 to RM4.13 trillion by 2032 globally.
“The global healthcare sector has proven to be not only resilient but also transformative, offering immense opportunities in medical devices, pharmaceuticals, biotechnology and digital health solutions,” he said in his opening remarks at the three-day International Healthcare Week 2025 (IHW 2025), which began here yesterday.
“Thanks to our strong industrial reform agenda, robust industrial ecosystem, progressive policies, investor-friendly environment and a skilled, industry-ready workforce, Malaysia’s healthcare industry is well-positioned to capture this growth.”
Tengku Zafrul also said that last year alone, the medical devices and pharmaceutical industries garnered RM2.13bil in combined investments, creating over 2,700 high-value jobs across manufacturing, research and development, and regulatory services.
“Today, eight of the world’s top 30 medical device companies have established operations in Malaysia,” he said, adding that Malaysia is home to over 300 medical devices companies.
Tengku Zafrul said that from January to May this year, pharmaceutical exports have increased by 7.8%.
“This is also due to our industrial reform initiatives. Reform builds industrial resilience, which in turn feeds our exports’ resilience,” he noted.
On the IHW, Tengku Zafrul said it is not just a healthcare event but also a platform to bring together global thought leaders, innovators, policymakers and investors to shape the future of South-East Asia’s healthcare sector.
“I feel that the IHW 2025 represents more than an exhibition – it is a call to action to strengthen collaboration, accelerate innovation and ensure that our healthcare systems remain inclusive, sustainable and future-ready.
“I’m proud that Malaysia is playing host to this global gathering and I am confident that over the course of the next few days, this platform will generate meaningful dialogue, strategic partnerships and tangible business outcomes that benefit all participants,” added Tengku Zafrul.
Malaysia External Trade Development Corp (Matrade) chairman Datuk Seri Reezal Merican Naina Merican said Malaysia needs to capitalise on its ever-growing healthcare industry to counteract uncertainties in global trade.
He said this was due to incredible growth in the nation’s medical device sector, which spiked by 27.7% to RM46.5bil in trade value last year, with exports increasing by 31.6%.
“Malaysia will need to develop a national strategic roadmap for the healthcare industry going forward,” Reezal Merican said.
“We have evolved from producing basic medical supplies to manufacturing sophisticated healthcare technologies, and are now being recognised as one of the top destinations for healthcare travellers.
“This roadmap will be our blueprint for us to solidify Malaysia’s position as a global leader in healthcare.
“This is key because as more challenges in the global trade and economy appear, we need to be able to navigate with agile approaches to international trade dynamics, and evolving global relationships,” he said during his speech at the event.
Held in Kuala Lumpur for the first time, the IHW 2025 is showcasing over 900 exhibitors from key healthcare industries from medical devices to pharmaceuticals, and is expected to draw over 21,000 visitors throughout the 3-day event.
Among the notable conferences that will take place at the event are the Conference of Pharmaceutical Ingredients South East Asia and World Health Expo KL.
