Sri Lanka's improvements in healthcare have created stronger commercial opportunities for drug makers in the country, which is experiencing an epidemiological shift towards chronic diseases, a recently released market report says.
The report "Sri Lanka Pharmaceuticals & Healthcare Report Q1 2015"by Business Monitor International (BMI) says that strong reliance on foreign aid as well as medicine price caps will however, limit increases in revenue- earning opportunities.
According to the report, Sri Lanka's Pharmaceutical Risk/Reward Index (RRI) score for Q1 2015 stands at 38.2 out of 100, making it the seventeenth-most attractive pharmaceutical market in the Asia Pacific region.
In 2013 Sri Lanka has spent Rs. 67.7 billion (US$ 524 million) for pharmaceuticals and Rs. 75.09 billion (US$ 570 million) in 2014
For Healthcare in 2013 Sri Lanka has spent Rs. 261.04 billion (US$ 2.02 billion). The amount has increased to Rs. 283.97 billion (US$ 2.16 billion) in 2014.
The Sri Lanka Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
The Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Sri Lanka pharmaceutical and healthcare industry.