PUTRAJAYA (Feb 15): Malaysia is gearing up to host the inaugural Asian International Medical Technology Exhibition and Conference 2024 (Asian Medtec 2024), a significant event that is poised to enhance the nation’s standing as a premier destination for medical device manufacturing and supply chain activities.
Key Highlights of Asian Medtec 2024
Health Minister Datuk Seri Dr. Dzulkefly Ahmad emphasized that Asian Medtec 2024 will not only showcase groundbreaking innovations but also facilitate collaboration among various government agencies to establish a world-class ecosystem for medical technology and devices in Malaysia. Speaking at the soft launch of Asian Medtec 2024, he expressed his optimism about the event’s potential impact.
Event Details
Scheduled to be held from December 10 to 12 at the Kuala Lumpur Convention Centre, Asian Medtec 2024 is expected to draw over 250 exhibitor companies and 10,000 visitors from 25 countries. Among the participating nations are Australia, China, India, Japan, South Korea, France, Germany, Singapore, and the US.
Conference and Activities
The three-day conference will feature international trade activities, business matching sessions, conferences, and lectures on the latest technologies, catering to the needs of the medical device and technology industry.
Global Participation
Dr. Dzulkefly highlighted that the 28th Global Harmonisation Working Party (GHWP) annual meeting will coincide with Asian Medtec 2024. This meeting, which brings together regulatory authorities and industry delegations from 34 countries, underscores Malaysia’s growing involvement in the international landscape of medical technology and devices through the Medical Device Authority.
Impact on Malaysia’s Economy
With the global market value of medical technology and devices estimated at €536 billion (RM2.75 trillion) in 2021, Dr. Dzulkefly emphasized that the organization of Asian Medtec 2024 aligns with the New Industrial Master Plan 2030. The plan aims to propel Malaysia towards becoming a key player in the medical device sector.
Economic Projections
According to Dr. Dzulkefly, the medical device sector contributed RM15.1 billion to Malaysia’s economy in 2023, creating more than 80,000 jobs since 2010. Dr. P. Muralitharan, CEO of the Medical Device Authority, projected that the industry would contribute RM20 billion to the country’s economy in 2024, with Malaysia targeting a 15% share of the global market in the medical device sector.
Anticipation and Opportunities
Asian Medtec 2024 holds promise not only for Malaysia’s economy but also for its growing prominence in the field of medical technology. As the nation prepares to host this landmark event, anticipation mounts for the opportunities it will bring for innovation, collaboration, and economic growth.
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