The import of pharmaceutical goods to Malaysia experienced significant fluctuations from 2013 to 2023. After peaking at $30.821 million in 2014, imports saw a sharp decline, dropping to $18.79 million by 2017. From 2018 onwards, imports stabilized around the $18 million mark, seeing minor year-on-year variations. However, 2022 saw a notable decline of 10.45% to $17.984 million, followed by a further slight decrease to $17.717 million in 2023.
Looking ahead, the forecast indicates a continued gradual decline in imports, with a five-year CAGR of -1.22%. By 2028, imports are expected to reach $16.553 million, representing an overall reduction in demand for imported pharmaceutical goods.
Future trends to watch for:
- Potential changes in Malaysia's domestic pharmaceutical production capabilities might impact import levels.
- Shifting healthcare policies, including government incentives for local production, could affect future import volumes.
- Global supply chain disruptions might alter the forecast, necessitating close monitoring.
