IP Protection in Malaysia for the Medical Device and Healthcare Industries

insurance-1991276_1920In today’s blog post we are taking a closer look at IP protection in the medical device and healthcare industries in Malaysia. You will learn more about the importance of patents in medical device industry and the various patents that can be applied in Malaysia as well as about the importance of brand protection. 

As one of the main pillars of Malaysia’s economy, supported by numerous governmental initiatives, medical device and healthcare industry is growing fast in Malaysia, making the country one of the top destinations for medical tourism. Healthcare industry in Malaysia is expected to grow close to 30% per year up to 2020[1] and as Malaysian government is creating various incentives for foreign investments, this sector is expected to offer many promising business opportunities for European SMEs.

Malaysia has a large ageing population with rising disposable income and European SMEs can find business opportunities in many sectors including elderly care. As digitalization is still one of the challenges in Malaysia’s medical device and healthcare sector and since the government is encouraging the implementation of the E-Health Strategy, European high-tech solutions are much welcome in Malaysia. Furthermore, as Malaysia’s population is becoming increasingly affluent, consumers pay a lot of attention to wellness and disease preventions, meaning that there is growing market for medical devices that are used to self-monitor one’s health condition like blood glucose and pressure monitors[2].

European SMEs wishing to do business in Malaysia’s healthcare and medical device sector should pay attention to protecting their intellectual property rights, because even though Malaysia’s IP regulations have improved over the past years, counterfeiting and other IP violations are still commonplace in the country. At the same time, neglecting to protect IP rights can often quickly end European SMEs’ business endeavors in South-East Asia. Continue reading “IP Protection in Malaysia for the Medical Device and Healthcare Industries” »

IP Considerations in the Medical Device & Healthcare Industry in South-East Asia

the-device-1822457_1920In today’s blog post we are discussing how to best protect your IP in the medical device and healthcare sector in South-East Asia. You will learn more about patent protection, design protection and trade mark protection in this industry. Since medical device and healthcare industry is very R&D intensive, we are also discussing how to protect your IP while conducting R&D activities in South-East Asia.  

Rapid demographic changes and health reforms within South-East Asia are expected to create enormous demands in the health care market in the near future. Growth in average annual healthcare expenditure between 2014-18 is expected to be around 11% of GDP in ASEAN – but with highly varied rates among the countries: Vietnam with the highest at 6.6% and Myanmar with the lowest at 1.8%.[1] At the same time, amongst many South-East Asia countries, local pharmaceuticals are not well trusted, making way for foreign players with strong brands to establish significant market share in South-East Asia. This offers many promising business opportunities for the European SMEs engaged in medical device and healthcare industries, as European brands with high and positive brand recognition are expected to be favored by local governments and clinicians over their lesser-known competitors.

The healthcare industry in South-East Asia also serves a rapidly growing medical tourism industry which is expanding globally at a rate of about 25% and it is claimed that nearly a third of all medical tourists in the world receive medical attention in South-East Asia[2]. Furthermore, many South-East Asian countries like Thailand and Singapore aspire to become the medical and healthcare hubs in the region, offering various opportunities for the European SMEs.

Even though, IP laws and regulations have improved a lot in South-East Asia over the past five years, counterfeiting and other IP violations are still commonplace in the region. EU SMEs would therefore benefit from understanding the different intellectual property rights that are relevant to the medical device & healthcare industry and determine the effective way to protect their IP rights in South-East Asia. Continue reading “IP Considerations in the Medical Device & Healthcare Industry in South-East Asia” »

IP Considerations in Thailand for Healthcare and Medical Technologies Sector

medic-563423_1920In Today’s blog post we are taking a closer look at the IP protection in Thailand’s healthcare and medical technologies sector that similarly to Singapore, covered last week, has been offering promising business opportunities for the European SMEs. You will learn more about what types of IP are connected to the healthcare industry and how you can best protect these types of IP in Thailand.

Being one of the leading destinations for medical tourism in Asia Pacific region with the ambition of becoming the international key driver of medical devices growth, Thailand offers many promising opportunities business opportunities to European SMEs engaged in healthcare and medical technologies sector, whose topnotch technology is increasingly sought after. Furthermore, as Thai population is aging rapidly, with the expectation that by 2025 people over 60 will make up 22% of the whole population, the demand for medical devices and technologies will increase considerably[1].

European SMEs who are engaged in the field of diagnostic imaging, orthopaedics & prosthetics and dental products can expect to find plenty of business opportunities in Thailand, as these areas are currently developing fastest in the country. Furthermore, as 85.2% of the medical device market in Thailand is supplied by imports[2], there will also be business opportunities for European SMEs engaged in other areas of healthcare and medical technologies industry. Due to good geographical location, Thailand could also serve as a springboard to Myanmar, Vietnam, Laos and Cambodia.

Intellectual Property Rights are very relevant in the healthcare and medical sector as companies operating in the field heavily rely on technology, software, and brand reputation. Not only a way to help protect innovations and new products from competitors, IP assets can also be an important source of cash-flow through licensing deals or selling IP, as well as a significant pull-factor when attracting investors. European SMEs should also not forget to pay attention to protecting their IP, because IP infringements are still commonplace in Thailand. Well-managed IP is often a key factor for business success and neglecting these rights could be costly. Thus, a comprehensive IPR strategy is needed, when entering Thailand’s market, says Valentina Salmoiraghi, IP Business Advisor. Continue reading “IP Considerations in Thailand for Healthcare and Medical Technologies Sector” »

IP Considerations in Singapore for Healthcare and Medical Technologies Sector

insurance-1991276_1920In Today’s blog post we are taking a closer look at the IP protection in Singapore’s healthcare and medical technologies sector that has been offering promising business opportunities for the European SMEs for a few years now. You will learn about what types of IP are connected to the healthcare industry and how you can best protect these types of IP in Singapore.

Underpinned by both raising disposable income and progressively aging population, Singapore offers various promising business opportunities to European SMEs engaged in healthcare and medical technologies sector, whose topnotch technology is increasingly sought after. Furthermore, Singapore’s healthcare expenditure is expected to grow about 10% by 2020 and the government is committed to offering better healthcare to its citizens as it has dedicated a budget of 2.64 billion EUR to developing the health and biomedical sciences sector in Singapore over the next 5 years.[1]

European SMEs who are engaged in developing medical diagnostics tools, especially in the areas of immunochemistry, point-of-care devices, and molecular diagnostics, or developing medical solutions catered towards functional ageing and fighting obesity-related and chronic diseases, can expect to find plenty of business opportunities in Singapore, as these areas are currently developing fastest in the country. Similarly, SMEs that are engaged in digital dentistry, can expect to find promising business opportunities, as there is rising interest in digital dentistry in Singapore.[2] As Singapore aspires to become Asia’s digital healthcare hub, European SMEs can also use Singapore as a gateway to other South-East Asian countries, whose demand for healthcare technologies is similar to Singapore.

Intellectual Property Rights are very relevant in the healthcare and medical sector as companies operating in the field heavily rely on technology, software, and brand reputation. Not only a way to help protect innovations and new products from competitors, IP assets can also be an important source of cash-flow through licensing deals or selling IP, as well as a significant pull-factor when attracting investors. European SMEs should, however, not forget to pay attention to protecting their IP and implement a strategy tailored to their needs. Well-managed IP is often a key factor for business success and neglecting these rights could be costly. Thus, a comprehensive IPR strategy is needed, when entering Singapore’s market, says Valentina Salmoiraghi, IP Business Advisor. Continue reading “IP Considerations in Singapore for Healthcare and Medical Technologies Sector” »

IPR Protection Strategies within the Healthcare Sector in China

The healthcare sector in China is developing rapidly as the rising middle class becomes more and more concerned about quality healthcare services, which are currently quite scarce in China. This, on the other hand,  provides many opportunities for the European SMEs active in the healthcare sector. However, SMEs should pay attention to protecting their IP rights when entering to the lucrative market of China because counterfeiting and other IP infringements still persist in China. For today’s blog post we have chosen to share with you an infographic that will provide you with a basic and easy to read  overview of IP protection in the healthcare sector in China.

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