Malaysia: Medical Instruments Market 2024

Medical Instruments Market Size in Malaysia

The Malaysian medical instruments market expanded significantly to $X in 2022, with an increase of 7.3% against the previous year. Overall, consumption enjoyed strong growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Medical Instruments Production in Malaysia

In value terms, medical instruments production reached $X in 2022 estimated in export price. In general, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 35% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Medical Instruments Exports

Exports from Malaysia

In 2022, overseas shipments of instruments used in medical sciences were finally on the rise to reach X tons after three years of decline. In general, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 62% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, medical instruments exports rose modestly to $X in 2022. Over the period under review, exports saw a prominent increase. The growth pace was the most rapid in 2018 with an increase of 44%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for medical instruments exports from Malaysia, accounting for a 38% share of total exports. Moreover, medical instruments exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), twofold. Japan (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+15.8% per year) and Japan (-2.8% per year).

In value terms, the United States ($X) remains the key foreign market for instruments used in medical sciences exports from Malaysia, comprising 38% of total exports. The second position in the ranking was taken by Germany ($X), with a 16% share of total exports. It was followed by Japan, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+12.1% per year) and Japan (-5.9% per year).

Export Prices by Country

In 2022, the average medical instruments export price amounted to $X per ton, increasing by 4.6% against the previous year. Over the period under review, the export price, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2019 an increase of 16% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and the United States ($X per ton), while the average price for exports to Singapore ($X per ton) and Hungary ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (-2.9%), while the prices for the other major destinations experienced a decline.

Medical Instruments Imports

Imports into Malaysia

In 2022, after two years of decline, there was significant growth in purchases abroad of instruments used in medical sciences, when their volume increased by 21% to X tons. Overall, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.2% against 2019 indices. The pace of growth was the most pronounced in 2018 when imports increased by 40% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, medical instruments imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 37%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest medical instruments supplier to Malaysia, with a 26% share of total imports. Moreover, medical instruments imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Germany (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.2% per year) and Germany (-1.3% per year).

In value terms, the United States ($X) constituted the largest supplier of instruments used in medical sciences to Malaysia, comprising 26% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.3% per year) and Germany (-2.1% per year).

Import Prices by Country

In 2022, the average medical instruments import price amounted to $X per ton, shrinking by -7.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 17%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Mexico ($X per ton), while the price for South Korea ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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