Health minister Dzulkefly Ahmad said the event, managed by the Medical Device Authority (MDA), will serve as a launchpad for ground-breaking innovations, bolstering Malaysia’s reputation as a preferred destination for medical device manufacturing and supply chain activities.

“It will also foster collaboration among key government agencies to cultivate a world-class ecosystem for medical technology within Malaysia,” Dzulkefly said after officiating the soft launch of Asian Medtec 2024 today.

He said Asian Medtec 2024 would strengthen Malaysia’s position as a key hub for medical technology development in Asia, as it has captured 8-10% of the total global market share of €536 billion (RM2.7 trillion).

Dzulkefly said the medical device sector contributed RM15.1 billion to Malaysia’s economy in 2023. More than 80,000 jobs have been created in this sector since 2010.

MDA CEO Dr P Muralitharan said the industry was set to contribute RM20 billion towards the country’s economy in 2024, with new foreign direct investments and additional investments within the country.

He also said MDA aimed for Malaysia to garner 15% of the global market share in the medical device sector.

Asian Medtec 2024 is set to take place from Dec 10-12 this year at the Kuala Lumpur Convention Centre.