Penang:Penang has secured RM2.3 billion in approved investments in the medical technology (MedTech) sector from 2021 to the first quarter of 2026, involving 40 projects and creating nearly 4,500 jobs, as announced by Chief Minister Chow Kon Yeow.
According to BERNAMA News Agency, this development reflects the strengthening of Penang's MedTech ecosystem and its shift towards higher-value manufacturing. MedTech has become a key component of the state's high-value manufacturing framework, as noted by Chow in his speech at the Malaysia Medtech Industry Summit 2026. The event was attended by notable figures such as Medical Device Authority chief executive Datuk Dr P. Muralitharan and Malaysian Investment Development Authority executive director of manufacturing development, Surayu Susah.
Chow highlighted that Penang now hosts seven of the world's top 30 MedTech companies, including Abbott, Boston Scientific, B. Braun, Smith+Nephew, STERIS, Dexcom, and Intuitive Surgical. The state recorded RM238 billion in exports of optical, precision, medical, and surgical instruments between 2021 and mid-2026, making up an average of 64 percent of Malaysia's total exports in this category.
The synergy between the electrical and electronics (E and E) sector and the MedTech industry has been beneficial, leveraging over five decades of expertise in semiconductors and advanced electronics. This expertise directly contributes to the production of surgical instruments, implants, and high-accuracy medical devices.
The state government aims to progress beyond manufacturing scale to focus on higher-value activities such as design, research and development, and enhancing regulatory and testing capabilities. Penang is targeting to double the number of homegrown MedTech companies producing MDA-registered devices from the current 20 to 40. These local companies produce a range of MDA-registered devices, including orthopedic implants, surgical instruments, wound care products, dental products, infection-control solutions, and medical consumables.
Chow emphasized that Penang's foundation in building its semiconductor industry serves as a strong base for advancing MedTech development, underscoring the role of precision manufacturing in promoting human health. The state plans to collaborate with industry players and academia to cultivate the necessary workforce, including engineers, technicians, and quality specialists, to support the sector's growth.