Healthcare Scenario in Sri Lanka: Public Vs Private Sector –
According to a survey in 2014:
- The state sector of Sri Lanka under the Ministry of Health operates and manages the greatest number of hospitals (593) in Sri Lanka and accounts for 90% of inpatients by number.
- There are approximately 197 private hospitals distributed islandwise, of which Asiri Hospitals Holdings, Durdans PLC, Nawaloka Hospitals PLC, and Lanka Hospitals PLC dominate the market. All 4 have a significant concentration of facilities in Colombo with a regional presence. Private Sector caters to 60% of the outpatients and one tenth of the inpatients.
- Though the Public sector dominates the market, there is increasing expenditure towards private medical care with an increase in disposable income.
Medical equipment and devices: Expansion of private and public healthcare in Sri Lanka is expected to increase demand for Medical Devices from the private and public sector. Over the last 5 years, 17% compound annual growth rate has been witnessed in the market for medical equipment and devices.
Growing Demand for Orthopedic Implants: Patient specific instrument and ortho implants are predictable to drive growth in the hip and knee markets. The orthopedic device and instruments market is expected to witness a CAGR of 5.5% during the prediction of 2018-2023.
Sri Lanka has several good orthopedic surgeons & hospitals. Due to the low cost of medical treatment, it is also an attractive destination for Medical Tourism, an opportunity expected to be dominated by private sector players.
A major share of medical device requirements of the country is met by imports. Local manufacturing typically occupies low value healthcare consumables such as cotton wool, beds etc. The country fulfills its requirement of orthopedic implants and surgical instruments by importing them from other nations.
Siora Surgicals Pvt. Ltd. has been servicing public sector hospitals of Sri Lanka for more than 20 years. Its products are well accepted and widely used by these hospitals, supplies to which are managed by SPC, a State-owned organization. SIORA products are registered with National Medicines Regulatory Authority (NMRA) – Sri Lanka.
Siora Surgical Pvt Ltd has its manufacturing unit in Rai industrial area, Sonipat, close to national capital Delhi. The factory is equipped with modern manufacturing machines and other allied facilities. SIORA has implemented a Quality Assurance System audited and certified to confirm with International Standard ISO 13485. Orthopaedic Implants are offered in high-quality Stainless Steel and Titanium, which are tested and proven for bio-compatibility. All products are designed and manufactured so that patient’s safety is not compromised.
To cater to the growing market for orthopaedic implants in private sector in Sri Lanka, we are ready to associate with a distributor in Sri Lanka having good sales team and infrastructure to cater to all parts of the country.