LONDON, June 21, 2016 /PRNewswire/ -- The Sri Lankan government's commitment to the healthcare and education sectors is commendable. However, the demographic and epidemiological transformation is urging for reforming the primary healthcare delivery model of the country. Non-communicable diseases are on the rise and account for 85% of deaths in the country. The quality of healthcare services in Sri Lanka still lags behind the kind of services offered in more advanced countries. There is also little systematic dialogue and collaborations between public and private sectors for a smooth healthcare delivery. This Frost & Sullivan deliverable analyses the current scenario of the Sri Lankan healthcare sector along with the scope for a public-private co-functioning for universal healthcare access.
Key Findings in the Healthcare Sector
The total healthcare spending is expected to nearly double from $ billion in 2015 to $ billion in 2020, with the private sector set to account for % of the expenditure.
Non-communicable diseases (NCDs) such as cardiovascular diseases and diabetes will increase significant expenditures over the medium term.
During the long term, the expenditure disparity between diseases will narrow down.
The private healthcare market is estimated to expand at a compound annual growth rate (CAGR) of % between 2015 and 2020.
Medical tourism is expected to see robust growth due to the quality of care, facilities, low cost of services provided, and government initiatives to safeguard the interest of foreign tourists.
From the $ million recorded in 2015, the domestic pharmaceutical market is forecast to be valued at $ million in 2020.
Medical device sales are expected to increase significantly at an estimated CAGR of % from $ million recorded in 2015 to $ million in 2020.
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