IHW 2025 Reflects Malaysia's Commitment To Drive Innovation In Healthcare Industry - Tengku Zafrul

KUALA LUMPUR, July 16 (Bernama) -- The International Healthcare Week (IHW) 2025 reflects Malaysia's commitment to driving innovation, accelerating growth, and forging global partnerships that will define the next chapter of the country’s healthcare industry.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said IHW 2025 is a strategic platform that brings together global thought leaders, innovators, policymakers, and investors to shape the future of the region’s healthcare.

He said the global medical devices market is projected to grow 63 per cent from RM2.53 trillion in 2024 to RM4.13 trillion by 2032.

“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.

"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," he said in his keynote address at the IHW 2025 here today. 

From pharmaceuticals and medical devices to healthcare services and medical tourism, Tengku Zafrul said this sector is a catalyst for high-value job creation, innovation, and exports.

He said that in 2024 alone, the medical devices and pharmaceutical industries garnered RM2.13 billion 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. In fact, our pharmaceutical exports for January-May 2025, too, have increased by 7.8 per cent.

“This is also due to our industrial reform initiatives. Reforms build industrial resilience, which in turn feeds into our exports’ resilience,” he said.

Meanwhile, Malaysia External Trade Development Corporation chairman Datuk Seri Reezal Merican Naina Merican said Malaysia has evolved from producing basic medical supplies to manufacturing sophisticated healthcare technologies, such as advanced stents, precision pacemakers, orthopaedic implants, and cutting-edge diagnostic equipment, which serve patients worldwide.

“It is also very encouraging to see that in 2024, Malaysia was recognised as one of the top destinations for healthcare travellers.

“It tells us we are on the right track in providing quality, affordable care, and what we value most is knowing that international patients feel confident and secure in our healthcare system,” he said.

In 2024, he noted that the trade in medical devices had a remarkable 27.7 per cent year-on-year growth, achieving an outstanding RM46.5 billion in trade value, with an exceptional performance of 31.6 per cent increase in exports from the previous year, reaching a value of RM37 billion. 

“Our top export destination in the past year was to the United States, amounting to over RM13 billion (37 per cent), followed by Belgium, RM3.8 billion (10 per cent), and Germany, RM3.14 billion (8.5 per cent), and our export to ASEAN was at RM3.48 billion.

“And to give you a sense of just how far we have come, let us look back 10 years ago. In 2014, our medical device trade was at RM13.49 billion and today, it has tripled to RM46.5 billion in 2024,” he said.

Informa Markets in Asia president and chief executive officer Margaret Ma Connolly said Malaysia is recognised as a premier healthcare hub in Southeast Asia, with a robust healthcare market, a thriving medical tourism industry, and ongoing improvements in healthcare infrastructure.

“Today marks a historic moment as we host this landmark event for the first time in Malaysia. This remarkable gathering of healthcare industry professionals offers unparalleled opportunities for knowledge exchange, networking, and forging partnerships that will drive innovation throughout the region.

“Over the next three days and beyond, we embark together on a journey to shape the future of healthcare, harnessing the power of collaboration and cutting-edge technology to improve health outcomes for millions,” she said.

The four-day IHW 2025, starting from today, features over 900 leading local, regional, and international exhibitors showcasing more than 15,000 products and services, offering a comprehensive view of the latest healthcare technologies and solutions.

The event expects to welcome approximately 21,000 professionals from over 50 countries, providing unparalleled opportunities for networking, knowledge exchange, and business partnerships. 

Complementing the exhibitions, more than 125 dedicated conferences will address specific industry needs and developments, offering targeted learning experiences.

-- BERNAMA