While the far-reaching impact of the Covid-19 pandemic has proven devastating to the world, it was also the vanguard that demonstrated the true value of Malaysian healthcare players. Riding on current market trends, the Malaysia External Trade Development Corporation (MATRADE) is further intensifying efforts to promote the exports of Malaysian medical devices and healthcare services globally.
MATRADE continues to create export opportunities for Malaysian medical devices and healthcare services in the Middle East and North Africa (MENA) region by spearheading the participation of Malaysian companies at Arab Health 2023, which will be held in Dubai, United Arab Emirates (UAE) from 30 January – 2 February. This year marks MATRADE’s 19th year of participation in this iconic event.
MATRADE is organising the participation of ten (10) Malaysian medical devices and pharmaceutical companies at Arab Health 2023, namely, KPJ Healthcare Berhad, UEM Edgenta Berhad, Ain Medicare Sdn Bhd, Xepa-Soul Pattinson (Malaysia) Sdn Bhd, Ming Medical Sdn Bhd, Muzamal Industries Sdn Bhd, Timo International Sdn Bhd, TPE Healthcare Sdn Bhd, TUD Sdn Bhd and Twin Catalyst Sdn Bhd. Various high-value products and services from Malaysia will be promoted to over 50,000 global visitors expected at the event including medical consumables, pharmaceuticals, healthcare and wellness products and services.
According to the Director of Lifestyle and Life Sciences MATRADE, Razida Hanim Abdul Razak, MATRADE’s first participation at Arab Health was in 2005 under the National Pavilion and the exhibition continued to offer Malaysian companies a platform to connect with hundreds of local and international suppliers and buyers in different product categories, build connections and keep up with the new technological trends and innovations in the industry, all in one place. The Arab Health exhibition is in its 48th edition this year and undoubtedly, its stature as the premier healthcare trade platform is very much undisputed for many exhibitors. To date, the Arab Health exhibition has moved beyond the regional perspective and now attracts global trade visitors that have marked the event in their annual calendar, she added.
“Observing current trends, we anticipate that there will be steady global demand for Malaysian quality healthcare products for 2023 while the MENA region offers high potential exports opportunities for Malaysia. Overall, demand for healthcare related products and services in MENA is expected to reach RM33.31 billion (USD7.92 billion) in 2025. Participation in renowned large-scale events such as Arab Health will help to boost our Malaysia’s branding among buyers,” said Razida.
In 2022, the top-five export destinations for Malaysian medical devices in the MENA region were Saudi Arabia, UAE, Egypt, Qatar, and Morocco. Collectively, these markets contributed 77.32 per cent of Malaysia’s exports of medical devices to the region. Exports of medical devices to MENA region during this period registered at RM316.1 million.
Throughout the years, Malaysian medical devices have been well accepted globally, supported by Malaysia’s reputation as the world’s leading exporter of medical gloves and catheters, which are some of the key products categorised under Medical Devices. Malaysian products and services have always been regarded to be of good quality and competitively priced. They are well sought after by visitors looking for the segment of products that we are offering.
While opportunities are abundant, Malaysian participants are encouraged to frequently visit the market to understand the market dynamics and business culture in addition to following up with potential regional business partners. Regular visits are necessary to build long term understanding and trust for successful ventures.