Fast Market Research recommends "Sri Lanka Pharmaceuticals & Healthcare Report Q4 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 10/25/2013 -- While Sri Lanka's negative pharmaceutical trade balance is expected to widen over the next five years, we are encouraged by the government's focus on increasing local production of medicines, both on a national level and by inviting foreign investment. The vast majority of imported medicines come from neighbouring India. However, a number of Indian companies have in recent months been found to be in breach of regulations and subsequently denied importing rights, which will affect the level of imports.
Headline Expenditure Projections
- Pharmaceuticals: LKR59.86bn (US$469mn) in 2012 to LKR67.77bn (US$524mn) in 2013; +13.2% in local currency terms and +11.8% in US dollar terms.
- Healthcare: LKR252.10bn (US$1.98bn) in 2012 to LKR281.89bn (US$2.18bn) in 2013; +11.8% in local currency terms and 10.4% in US dollar terms.
According to our Q413 regional matrix, with a score of 39 out of 100.0 Sri Lanka is ranked 17th out of the 18 markets surveyed - above Cambodia and below Bangladesh. Sri Lanka's rewards and risks profiles are relatively evenly balanced, Low per capita expenditure on drugs and the modest overall market size are two of the key factors contributing to its low ranking.
View Full Report Details and Table of Contents
Key Trends And Developments
In September 2013, the World Bank signed a loan agreement to provide a US$200mn loan to the Sri Lankan health sector, according to country's finance and planning ministry. The loan will fund measures to fight malnutrition; the prevention and control of non-communicable diseases; the promotion of maternal and child health; and to improve country's overall healthcare system. The World Bank finance will aid the Sri Lankan government's total budgetary requirement for the ongoing five-year health programme valued at US $5,170mn.
In October 2013, four Indian companies were banned from supplying medicines to Sri Lanka - after being faulted for supplying low-quality medicines to the country for a period of four years. BMI Political View: The strategic space for Sino-Lanka ties to continue strengthening should remain wide, if not become even wider, due to the ongoing friction between Sri Lanka and India. Stronger ties with China could greatly enhance the already extensive positive economic spillovers this relationship has bestowed from the island's perspective. In this article, we briefly flesh out the recent developments in this key economic partnership.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Healthcare research reports at Fast Market Research
You may also be interested in these related reports:
- Nigeria Pharmaceuticals & Healthcare Report Q4 2013
- Kenya Pharmaceuticals & Healthcare Report Q4 2013
- Kuwait Pharmaceuticals & Healthcare Report Q4 2013
- Croatia Pharmaceuticals & Healthcare Report Q4 2013
- Estonia Pharmaceuticals & Healthcare Report Q4 2013
- Latvia Pharmaceuticals & Healthcare Report Q4 2013
- Hungary Pharmaceuticals & Healthcare Report Q4 2013
- Singapore Pharmaceuticals & Healthcare Report Q4 2013
- Pakistan Pharmaceuticals & Healthcare Report Q4 2013
- Lebanon Pharmaceuticals & Healthcare Report Q4 2013