The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Sri Lanka's pharmaceutical and healthcare markets will continue to expand over the next 10
years driven by economic development. Despite an increased level of fiscal tightening in the coming
quarters, healthcare system strengthening and facilities upgrade will remain a policy priority. We expect
growing demand for healthcare and medical treatment of chronic diseases to create commercial
opportunities for drugmakers and medical operators, although the government's pro-generic drugs stance
and low spending per capita on medicine will continue to tarnish the market potential appeal to innovative
Headline Expenditure Projections
? Pharmaceuticals: LKR82.88bn (USD610mn) in 2015 to LKR90.57bn (USD610mn) in 2016; +9.3 in
local currency terms and +0.4 in US dollar terms. Forecast broadly in line with last quarter.
? Healthcare: LKR273.32bn (USD2.01bn) in 2015 to LKR293.79bn (USD1.99bn) in 2016; +7.5 in local
currency terms and -1.2 in US dollar terms. Forecast revised downwards from last quarter.