South & Central America Lung Cancer Therapy Market

The South & Central America lung cancer therapy market was valued at US$ 1,250.04 million in 2022 and is expected to reach US$ 3,308.30 million by 2030; it is estimated to grow at a CAGR of 12.9% from 2022 to 2030.

Increase in Cases of Lung Cancer Drive South & Central America Lung Cancer Therapy Market

Lung cancer is among the main causes of mortality across the world. This type of cancer can be treated more effectively if it is diagnosed early. Therefore, people at a high risk of lung cancer need to undergo routine testing to detect the formation of cancerous growth inside their lungs. Globally lung cancer is the most common cancer in men and the second most common cancer in women. According to the World Health Organization (WHO), lung cancer is the leading cause of cancer-related deaths globally, in both men and women. As per the World Cancer Research Fund International, ~2.2 million new lung cancer cases were registered worldwide in 2020. Lung cancer is among one of the main causes of mortality across the world. Lung cancer screening is a critical component of cancer prevention approaches. The prognosis of lung cancer patients is better when the disease is diagnosed early, so people at high risk of lung cancer are encouraged to undergo routine testing to detect the formation of cancerous growth in their lungs. According to studies, lung cancer is one of the leading causes of death in Latin America and the Caribbean (LAC) region. Also, lung cancer accounted for 7% of the total common cancers in 2020. The most common cancer to cause death was still lung cancer (12%). However, mortality rates varied greatly between nations. By 2040, there would be 2.4 million new instances of cancer annually in LAC, increasing by 67% on the premise that rates don't change. Further, rates varied by up to a factor of 10, with the highest incidence and fatality rates in both men and women being found in Uruguay, Cuba, and Argentina and the lowest rates in Guyana and Central American nations. Thus, the rising incidences of lung cancer are contributing to the initiation of lung cancer therapy programs, which in turn, drive the market growth. Thus, the rising incidence of lung cancer worldwide is contributing to the research and development activities for lung cancer therapy, which is, in turn, driving the market growth.

South & Central America Lung Cancer Therapy Market Overview

The Rest of South & Central America lung therapy market is segmented into Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, and others. According to the International Association For The Study of Lung Cancer, NSCLC management in Chile follows international guidelines and can be outlined by stage as follows: stage I, surgery alone; stage II, surgery followed by adjuvant chemotherapy; stage III, definitive concurrent chemoradiation (which is the most frequent approach) and induction chemotherapy followed by surgery in select patients; and stage IV, chemotherapy and palliative care. The Peruvian Society of Cardiothoracic and Vascular Surgery is composed of 120 active members at present, with 10 of them being women. Approximately a quarter of all these specialists are mainly advocated to the Thoracic Surgery subspecialty, and few of them have training in Thoracic Surgical Oncology. These specialists are concentrated in Lima and three other regions of Peru (La Libertad, Arequipa, and Lambayeque). Only one center in the country provides specialized training in Thoracic Surgical Oncology. A shortage of specialists results in cardiothoracic surgeons also performing operations for the treatment of lung cancer, and this results in prolonged waiting times for operations in the public sector. Video-assisted thoracic operation for performing lobectomy is available in highly specialized centers, mostly in Lima, at which thoracic oncology surgeons. Radiotherapy (RT) is key in the management of early, locally advanced, and metastatic lung cancer. Currently, in 2021, there are 104 radiation oncologists, 100 radiotherapists, and 40 physicists in Peru. According to the National Institute on Nuclear Energy (IPEN), 3,728 centers have RT services that are distributed over six of 25 regions in Peru (Lima, La Libertad, Lambayeque, Arequipa, Junín, and Cusco), with 15 of them located in Lima.

South & Central America Lung Cancer Therapy Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Lung Cancer Therapy Market Segmentation 

The South & Central America lung cancer therapy market is segmented based on therapy type, indication, end user, and country.

Based on therapy type, the South & Central America lung cancer therapy market is bifurcated into noninvasive and minimally invasive. The noninvasive segment held a larger share in 2022. The minimally invasive segment is further subsegmented into radiofrequency ablation, microwave ablation, thermal ablation, cryoablation, chemical ablation, photodynamic ablation, and others.

By indication, the South & Central America lung cancer therapy market is bifurcated into non-small cell lung cancer and small cell lung cancer. The non-small cell lung cancer segment held a larger share in 2022.

By end user, the South & Central America lung cancer therapy market is segmented into hospitals, oncology clinics, research centers, and others. The hospitals segment held the largest share in 2022.

Based on country, the South & Central America lung cancer therapy market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America lung cancer therapy market in 2022.

Bioventus Inc, Johnson & Johnson, Medtronic Plc, Merck KGaA, Olympus Corp, RF Medical Co Ltd, and Sun Pharmaceutical Industries Ltd are some of the leading companies operating in the South & Central America lung cancer therapy market. 

South & Central America Lung Cancer Therapy Strategic Insights

Strategic insights for the South & Central America Lung Cancer Therapy provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Lung Cancer Therapy Report Scope

South & Central America Lung Cancer Therapy Regional Insights

The geographic scope of the South & Central America Lung Cancer Therapy refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.