New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 09/13/2012 -- BMI View: The small size of the Sri Lankan pharmaceutical market (US$444mn in 2011) and the subsequently restricted commercial opportunities for innovative drug companies mean the ban on sales representatives visiting doctors in public hospitals will not be of much worry to drug companies selling their products in the country. However, we believe that in the long term the lack of communication between sales reps and doctors will prevent patients from getting access to up-to-date treatments.
Headline Expenditure Projections
- Pharmaceuticals: LKR49.04bn (US$444mn) in 2011 to LKR53.79bn (US$450mn) in 2012; +9.7% in local currency terms and +1.5% in US dollar terms.
- Healthcare: LRK250.62bn (US$2.27bn) in 2011 to LKR278.99bn (US$2.34bn) in 2012; +11.3% in local currency terms and +3.0% in US dollar terms.
- Medical devices: LRK11.20bn (US$101mn) in 2011 to LKR11.94bn (US$100mn) in 2012; +6.6% in local currency terms and -1.3% in US dollar terms.
View Full Report Details and Table of Contents
Risk/Reward Rating: According to our Q312 regional matrix, Sri Lanka's is 17th out of the 18 markets in surveyed, above Cambodia. Sri Lanka's rewards and risks profiles are relatively evenly balanced, with low per capita expenditure on drugs and the modest overall market size some of key factors contributing to its low ranking.
Key Trends And Developments
- In March 2012, Sri Lanka's Ministry of Health banned medical sales reps from visiting doctors in public hospitals. Sales reps were previously permitted to arrange visits with doctors at 12-2pm on Thursdays, Fridays and Saturdays. The ban was enforced as the ministry said large numbers of sales reps were routinely interrupting doctors during work hours, often increasing patient waiting times.
BMI Economic View: Given the Central Bank of Sri Lanka (CBSL)'s largely unexpected slew of policy measures to combat overheating over the recent months, including currency devaluations and policy rate hikes, we have cut Sri Lanka's 2012 real GDP growth forecast to 5.0% (from 6.0% previously), implying a sharper slowdown from the 8.3% growth rate in 2011. Keeping in mind that the bank's measures were mainly in response to the country's external imbalances, we expect this year to mark the start of the country's 'rebalancing' as its external deficits moderate..
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:
- Kuwait Pharmaceuticals & Healthcare Report Q3 2012
- Lithuania Pharmaceuticals & Healthcare Report Q3 2012
- Romania Pharmaceuticals & Healthcare Report Q3 2012
- Cipher Pharmaceuticals Inc. (DND) - Pharmaceuticals & Healthcare - Deals and Alliances Profile
- Turkey Pharmaceuticals & Healthcare Report Q3 2012
- Chile Pharmaceuticals & Healthcare Report Q3 2012
- Singapore Pharmaceuticals & Healthcare Report Q3 2012
- Zimbabwe Pharmaceuticals & Healthcare Report Q3 2012
- Malaysia Pharmaceuticals & Healthcare Report Q3 2012
- Oman Pharmaceuticals & Healthcare Report Q3 2012
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)