Malaysian Company Secures RM28.65 Million in Potential Sales at SEACare for Medical Supplies

A Malaysian company has secured potential sales of RM28.65 million at the Southeast Asian Healthcare & Pharma Show (SEACare 2024) for vital medical supplies including syringes, needles, blood collection tubes, and latex-free tourniquets. The Malaysia External Trade Development Corporation (MATRADE) facilitated the International Sourcing Programme (INSP) at the event, where 30 Malaysian companies had 95 pre-arranged business meetings with 8 international buyers from Thailand, Vietnam, United Arab Emirates, Zambia, and Zimbabwe.

MATRADE says this success solidifies Malaysia's position as a key player in the regional healthcare industry and that it is committed to strengthening the country's healthcare product exports by enhancing the capability of local industry players. "The success at SEACare 2024 is a testament to the quality and competitiveness of Malaysia's healthcare products and services in the global market," said a MATRADE spokesperson.

Why this matters: The significant potential sales secured by the Malaysian company at SEACare 2024 highlight the growing demand for Malaysian medical supplies in the international market. This success underscores Malaysia's strategic position as a leading exporter of healthcare products in Southeast Asia and its potential to expand its market reach globally.

In the first quarter of 2024, Malaysia's medical devices and pharmaceuticals total trade rose to RM14.08 billion, a 13.5% increase from the same period in 2023. Malaysia's exports of medical devices and pharmaceuticals also recorded a 16% growth to RM8.93 billion during this period, while imports expanded by 10% to RM5.15 billion.

The healthcare event SEACare 2024 saw eight international buyers from Thailand, Vietnam, UAE, Zambia, and Zimbabwe participating in the INSP program, which matched them with 30 Malaysian companies in 95 pre-arranged business meetings. This led to the potential sales totaling RM28.65 million for the Malaysian companies, particularly for the vital medical supplies.

MATRADE remains committed to strengthening Malaysia's healthcare product exports and enhancing the capabilities of local industry players. The trade promotion agency views the success at SEACare 2024 as a solid indication of the quality and competitiveness of Malaysia's healthcare offerings in the global market. The impressive growth in Malaysia's medical devices and pharmaceuticals trade in the first quarter of 2024 further reinforces the country's strong position in the healthcare industry.

Key Takeaways

• Malaysian company secured RM28.65M in potential sales at SEACare 2024 healthcare event.
• MATRADE facilitated 95 business meetings between 30 Malaysian companies and 8 international buyers.
• Malaysia's medical devices and pharmaceuticals trade rose 13.5% in Q1 2024 to RM14.08B.
• Malaysia's healthcare product exports grew 16% in Q1 2024, reaching RM8.93B.
• MATRADE committed to strengthening Malaysia's healthcare exports and local industry capabilities.