SYNOPSIS

The Southeast Asian medical devices market is a rapidly expanding sector, with a value of over US10 billion in 2022. It is projected to reach an estimated US15.8 billion by 2028, with a significant compound annual growth rate (CAGR) of 7.9%. This growth is fueled by rising healthcare expenditures, a growing middle class, an aging population, and a higher prevalence of chronic diseases. Key trends include increased government investment in healthcare infrastructure, the adoption of digital health and telemedicine, and a push for local manufacturing to reduce reliance on imports.

The market presents a significant opportunity for investment and business growth due to its large and expanding consumer base. The region's demographics, coupled with government support and a strategic location that serves as a gateway to the wider Asia-Pacific market, make it an important area to watch. As countries standardize regulations and attract foreign direct investment, the sector is poised for continued transformation, driven by technological innovation and a focus on improving patient care.

Malaysia's medical device market is the largest in Southeast Asia, with a market size of RM10.6 billion (approximately USD 2.25 billion) in 2023. The market is projected to reach $3.3 billion by 2028, with a CAGR of 7.8%. Singapore's medical technology (MedTech) sector generated an output of S$19.4 billion (approximately $14.3 billion) in 2023. The medical device market in Indonesia is projected to grow from $3.5 billion in 2021 to $6.5 billion in 2026


BIODATA OF SPEAKER

En. Abdul Halim Bin Mohamed Shariff

Abdul Halim Bin Mohamed Shariff is a seasoned professional with over 20 years of experience in the healthcare industry and international trade. His extensive career includes significant roles at leading multinational corporations and a key government agency.

He began his career as an engineer at Unomedical Sdn Bhd and later held engineering and project management positions at B.Braun Medical Industries Sdn Bhd and Bard Sdn Bhd. His work in research and development at Teleflex Medical Sdn Bhd focused on innovative, clinically-relevant medical products.

His expertise further expanded at the Malaysia External Trade Development Corporation (MATRADE), where he advanced to roles including Deputy Director of the Life Sciences Unit. At MATRADE, he was instrumental in developing industry roadmaps, leading national policy initiatives, and brainchild the Southeast Asia's largest healthcare trade fair “The International Healthcare Week, Kuala Lumpur 2025”.