During the pandemic Sri Lanka received international support to purchase the necessary medication to help them fight COVID-19. However, due to the current economic crisis the Government of Sri Lanka has had to impose import restrictions due to limited foreign reserves in the country.
With a lack of foreign reserves in the country due to the current economic crisis, the Government of Sri Lanka has had to impose import restrictions. These restrictions have impacted the supply of some consumer health products which have not been as widely available in the market, with retailers unable to meet the demand in some cases.
The Sri Lankan government had to implement import limits due to a shortage of foreign funds amid the height of the country's economic crisis. Due to these limitations, there have not been enough consumer health goods on the market to satisfy demand.
With price rises and limited access to imported consumer health products, many customers have turned to purchasing locally produced items from State Pharmaceuticals Corporation of Sri Lanka and State Pharmaceuticals Manufacturing Corporation. However, according to some pharmacists, the effectiveness of these locally produced products has failed meet the criteria set by international standards.
One of the biggest issues that has arisen due to the introduction of import restrictions has been the inability to purchase fuel and this has created a massive issue in relation to transport in the country. The lack of fuel has restricted the ability of distributors and manufacturers to get goods into stores, including when it comes to consumer health.
As per the regulations issues by the National Medicines Regulatory Authority of Sri Lanka these have been no significant new developments or changes seen in 2022-2023.
As per the regulations issues by the National Medicines Regulatory Authority of Sri Lanka there have been no update on the vitamins and dietary supplements registration and classification in 2022/2023.
It is seen as vital that Sri Lanka addresses the shortfall in the supply of consumer health products in the country to ensure the health of the population is not threatened. Unless this is addressed then there could be further shortages of medication which could put an added strain on the public healthcare system while also limiting the growth opportunities within consumer health.
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Consumer Health
It is the aggregation of OTC, Vitamins and Dietary Supplements (VDS), Sports Nutrition, and Weight Management and Wellbeing
See All of Our DefinitionsThis report originates from Passport, our Consumer Health research and analysis database.
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