Penang’s approved MedTech investments total RM2.3 billion
The state aims to double its homegrown MedTech companies producing MDA-registered devices from 20 to 40, Chief Minister Chow Kon Yeow said.
Penang’s 40 approved medical technology (MedTech) projects accounted for RM2.3 billion in investments and nearly 4,500 jobs between 2021 and the first quarter of 2026, according to Chief Minister Chow Kon Yeow.
At the Malaysia Medtech Industry Summit 2026 in George Town on Oct 6, Chow outlined plans to move beyond manufacturing scale. He said the state government was focusing on design, research and development, alongside regulatory and testing capabilities.
The state’s target is to double its homegrown MedTech companies producing devices registered with the Medical Device Authority (MDA), taking the number from 20 to 40. Chow said industry players and academia would work with the state to develop engineers, technicians and quality specialists for the sector.
Exports in the category covering optical, precision, medical and surgical instruments totalled RM238 billion between 2021 and mid-2026, Chow said. Penang contributed an average 64 per cent of Malaysia’s exports in that category.
Chow named Abbott, Boston Scientific, B. Braun, Smith+Nephew, STERIS, Dexcom and Intuitive Surgical as the seven businesses operating in Penang that rank among the world’s top 30 MedTech companies. He also attributed the sector’s development to the state’s semiconductor and advanced electronics expertise, built over more than five decades.
