Sri Lanka Electrical & Electronic Industry - Electrical & Electronics Services - EDB

Medical Equipment

With the proliferation of more advanced medical procedures, variants of pathogens and lifestyle based medical conditions, the array of equipment required is at the forefront of human existential factors. While the industry for medical equipment has been dominated by well-established players with large infrastructure, specialised equipment and variants required today has opened opportunities for niche product developers and producers.

Sri Lankan Design and Manufacturing Companies have forged relationships with Global Organisations to design and manufacture niche medical devices for overseas markets. The specialisation and skills adopted by the sector has expanded over the years and has brought several innovations through consistent and competent R&D, through to production.

Sri Lanka’s experience in sensory technology and design, based on medical testing and laboratory technology, has brought upon extensive exposure in the sector and can be expanded to many niche market vertices.

A report published by Data Bridge Market Research predicts that the electro-medical equipment market is expected to witness market growth at a rate of 7.7% in the forecast period of 2021 to 2028. The same is attributed to the rise in the number of research and development activities across the globe which has been identified as one of the most significant factors that drive the electro-medical equipment market. The increase in studies and research conducted to enhance the convenience and wider availability of consumer-focused medical devices and services have contributed immensely towards the expansion of this sector. The continuous advancements and improvements made towards healthcare infrastructure, increase in the population and expansion of pharmaceuticals have also influenced the global electro-medical equipment market. Increased new product launches and new product approvals for electro-medical devices have created more profitable opportunities.

The Sri Lankan medical equipment export sector mainly produces IVF devices/equipment for Workstations, Heated Glass Stages, Inverted Microscope with Micromanipulators, Incubators, Medical infrastructure, world-class healthcare equipment and turnkey solutions to hospitals among other products and services. The Ability to cater to different time zones globally, and in comparison, with other Southeast Asian competitors, the capability to provide high quality offerings at low MOQ, have stood out as competitive advantages of the local exporters in this sector. R&D services for Original Equipment Manufacturers (OEMs) at competitive costs has enabled this sector to grow significantly over a short period of time. The geographical location linking the West and the East, multilingual proficiency, highly skilled talent pool for research & development along with a range of market access enablers and tariff concessions (GSP, GSP+, bilateral trade) that Sri Lanka offers, presents the global buyers with several distinct advantages.

The Sri Lankan manufacturers of this sector offer complete lifecycle development, where the complete process of transforming a concept into a commercially viable, operational solution will be carried out. Whilst the high quality of the offering creates an edge for the Sri Lankan products and services above other exporters in the region, the economic value offering makes the country a strong alternative to high-cost manufacturing bases in Europe & Americas.

Medical Equipment

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Medical Equipment

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