Latin America Cancer Therapeutics Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 150 | Report Code: BMIRE00031446 | Category: Life Sciences
No. of Pages: 150 | Report Code: BMIRE00031446 | Category: Life Sciences
The cancer therapeutics market size is expected to reach US$ 28,107.60 million by 2031 from US$ 14,043.49 million in 2024. The market is estimated to record a CAGR of 7.8 % from 2025 to 2031.
The cancer drug market in Latin America has seen notable growth, driven by rising cancer incidence rates, increasing awareness, and improvements in healthcare infrastructure. The region continues to witness a surge in the demand for innovative cancer treatments, including biologics, targeted therapies, and immunotherapies. Although affordability and difficulty accessing newer therapies present significant challenges to the market, the Pan American Health Organization (PAHO) is making efforts to provide essential cancer drugs at reduced costs to improve access to treatments. The market for cancer drugs in Latin America is poised for further growth through both local production and international partnerships.
Key segments that contributed to the derivation of the cancer therapeutics market analysis are therapy type, indication, and distribution channel.
Cancer is one of the prevalent chronic diseases in Latin American countries including Mexico, Peru, and Argentina. According to the data published by the International Agency for Research on Cancer, Argentina is recording an alarming rise in cancer cases. The source has stated that every 60 minutes, 15 people are diagnosed with a type of cancer. Every year, ~0.12 million new cases are registered in the country. According to The Global Cancer Observatory, in 2020, ~0.13 million new cases of cancer were reported in the country, with ~0.07 million deaths. The country has the highest incidences of cervical, colorectal, and breast cancers. According to GLOBOCAN 2020, there were ~15,895 new colorectal cancer cases in the country.
Moreover, Argentina has been investing significantly in its healthcare infrastructure, improving access to cancer treatments, and enhancing its healthcare system. The implementation of various government initiatives for the early diagnosis and better treatment of cancer is also expected to boost market growth during the forecast period
Based on region, the Latin America cancer therapeutics market is further segmented into Mexico, Brazil, Argentina, Peru, Chile, Colombia. The Brazil held the largest share in 2024.
According to the PAHO, Brazil had more than 30 million older adults aged 60 and above as of 2022, indicative of 13% of its population. By 2030, the number of people from this age group will reach nearly 50 million, which will be 24% of its total population. Brazil has seen a rising incidence of cancer, particularly with common types such as breast, prostate, and lung cancers, as its population ages. With the median age steadily increasing, there would be a significant demand for effective cancer treatments in the country in the near future.
The Brazilian government has invested in healthcare infrastructure, enabling better access to oncology services. Initiatives such as the Brazilian National Cancer Institute (INCA) have played a crucial role in enhancing cancer care and supporting research. These combined factors, along with a growing emphasis on early detection and personalized medicine, propel the expansion of the cancer therapeutics market in Brazil.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 14,043.49 Million |
| Market Size by 2031 | US$ 28,107.60 Million |
| Global CAGR (2025 - 2031) | 7.8 % |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Therapy Type
|
| Regions and Countries Covered | Latin America
|
Hitachi Ltd; Shin-Etsu Chemical Co Ltd; TDK Corp; Arnold Magnetic Technologies.; Galaxymagnets; Goudsmit Magnetics; Electron Energy Corporation; Dexter Magnetic Technologies; Adams Magnetic Products, LLC; and NINGBO YUNSHENG co., Ltd are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive in the market and offer innovative products to their consumers.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note:
All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include:
The Latin America Cancer Therapeutics Market is valued at US$ 14,043.49 Million in 2024, it is projected to reach US$ 28,107.60 Million by 2031.
As per our report Latin America Cancer Therapeutics Market, the market size is valued at US$ 14,043.49 Million in 2024, projecting it to reach US$ 28,107.60 Million by 2031. This translates to a CAGR of approximately 7.8 % during the forecast period.
The Latin America Cancer Therapeutics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Latin America Cancer Therapeutics Market report:
The Latin America Cancer Therapeutics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Latin America Cancer Therapeutics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Latin America Cancer Therapeutics Market value chain can benefit from the information contained in a comprehensive market report.
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