In a 2019 News Straits Times article, the then Prime Minister of Malaysia, Tun Dr. Mahathir Mohammed stated that Malaysia must take advantage of the positive trend in the global market for the medical devices industry by positioning the nation as a preferred destination among foreign investors. The PM said that by providing a conducive business environment for multinational companies, Malaysia could strengthen its competitiveness in the global market.
He commented that this would encourage some much needed foreign capital inflow and technology that will consequently accelerate growth for the country. “The medical device industry is expected to impact positively on the Malaysian economy. It has been designated as one of the ‘3+2’ high-growth sub-sectors under the 11th Malaysian Plan” the PM added.
With the nation moving towards Industry 4.0, there was an accelerated movement in innovation in the medical devices industry. Many local companies were beginning to seriously undertake research and development into their manufacturing processes, that is, until the Covid-19 pandemic hit the globe.
In the age of the internet, where more and more patients and consumers are researching information about their medical condition and searching for suitable medical goods and services they wish to invest in, never has there been a greater need for the industry and the medical fraternity to come together. The Covid-19 pandemic may have slowed down research and manufacturing, but its very existence provides a compelling reason for the industry and the medical fraternity to come together. This is so that lockdowns can be a thing of the past.
In Malaysia, in view of the present climate of limited job prospects and a toxic work environment, many doctors are opting for nonclinical professions where their education and experience can be relevant. The time is ripe for industry to come in and swoop up the experts available to them and think of various ways of business development so that pandemics can never again paralyze the economy and debilitate life as we know it.
Malaysian doctors are able to offer their expertise in various sectors such as research and innovation, pharmacy, education, media, technical work, and law among other things.
Disruptive Doctors has risen to the occasion and has been offering training, workshops, and webinars to help doctors transit to the various industries where their education and experience can be put to a greater good. It’s time for the industry to see the myriad of business possibilities staring at them in the face with an industry-ready pool of doctors.
