Genedrift

Malaysia

A growing market with annual pharmaceutical sales expected to reach USD 2.755 bn by 2024, more than 3.5% of GDP.  The country is experiencing a high spending from both the public and private sector, especially with Covid and its associated ailments. The focus is shifting more towards having local production and reducing dependence on imports however, the market currently remains dominated by imported product.  

Why is the market growing?

The steady influx of forex with upcoming middle class, is causing a a steady growth in pharmaceutical and medical spending. This is also a result of better quality of life and and increase in life expectancy. 

Covid caused a further increased spending throughout the pharmaceutical and medical devices market and investment in the supply chain. 

Furthermore, better healthcare facilities, more accurate medical diagnosis, the predominance of chronic diseases, and health consciousness characterize Malaysia and its extensive potential for medical and pharmaceutical companies. 
Health Tourism is another area Government is keen to further develop.

Disease trends in Malaysia

Ischaemic heart disease has remained as the principal causes of death

Ischaemic heart diseases remained as the principal causes of death accounting for 15.0 per cent of the 109,164 medically certified deaths in 2019. This was followed by Pneumonia (12.2%), Cerebrovascular diseases (8.0%), Transport accidents (3.8%) and Malignant neoplasm of trachea, bronchus and lung (2.4%).

Pneumonia remained as the principal causes of death for females.
Postpartum haemorrhage was recorded as the principal causes of death for maternal in 2019 at 17.5 per cent followed by Obstetric embolism (12.6%), Eclampsia (9.7%), Ectopic pregnancy (5.8%) and Puerperal sepsis (5.8%).

Preferential Treatment

The country's majority healthcare spending is through personal sources. In many regards, the easiest way to describe national health insurance system is to say that it doesn't have one. The country does, however, have both a government-funded public health sector and a thriving public sector. 

The regulatory system for the industry is such that it treats all manufacturers, irrespective of country of origin - as same and offers no partiality based on the source or site of manufacturer, however, sites which are either PIC/s approved or within a National Recognized System are exempted from audits and inspections. 

Road ahead !!

Growing market size because of progressive government policy aiming at attracting international investment, improving local manufacturing standards, Commitment to biotech development, will help towards an increase in overall spending of the industry as well as overall healthcare spend by the people. The local industry, although favored by the local regulatory agencies still meets less than 25% of the total demand, with very limited investment on R&D. 
Increase protection for patents and trademarks and other factors together look forward to contributing to USD 2.755 bn in annual sales by 2024, from USD 2.26 bn in 2020. 

Looking for more regulatory information, please visit the Resources Section.


Decided to move forward with Registration of your products, get in touch with us 

Get Started Now

Privacy Policy

Genedrift LLC ©