The size of the liver cancer therapeutics market in Latin America was worth USD 97.08 million in 2022 and estimated to be growing at a CAGR of 9.68%, to reach USD 154.08 million by 2027.
The Latin American liver cancer therapeutics market is being propelled forward by a growing aging population, unmet needs for liver cancer treatment, cancer medication inventions, expanding government initiatives, rising cancer occurrences, and rising healthcare spending. In addition, the fifth most common cancer and the third leading cause of cancer-related deaths on the continent is liver cancer. As a result, the market for liver cancer diagnosis and treatment is expected to become more competitive in the next years. Therefore, the Latin American Liver Cancer Therapeutics Market expects to see many novels targeting therapeutics soon.
According to Globocan, 1.2 million new instances of liver cancer have been reported worldwide. Because of expanded research and development activities targeted at treating dangerous diseases, the FDA has approved more medicines for hepatocellular carcinoma, which accounts for 90% of liver cancer. In addition, the usage of alcoholic beverages, smoking, and greater urbanization have all been associated with liver cancer due to increased government support and funding from international health organizations. When a range of treatment choices are available, there may be a surge in demand for liver cancer treatments in the near future. These factors are expected to showcase a positive impact on the Latin American market during the forecast period.
The expansion of the Latin American liver cancer therapies market is hampered by strict regulatory processes, large capital inputs, a low success rate in drug clinical trials, and low accessibility in distant locations. The COVID-19 has had a negative impact on the market for liver cancer therapies. Pharmaceutical businesses are implementing preparations to maintain the supply chain's balance while increasing product sales in response to the COVID 19 emergency. During the COVID 19 crisis, healthcare organizations have set rigorous criteria for handling hepatocellular carcinoma patients. Patients with HCC, according to research, are at significant risk of developing the illness. As a result, patients are classified as emergencies during the crisis.
This research report on the Latin American liver cancer therapeutics market has been segmented and sub-segmented into the following categories
By End Users:
The Latin American liver cancer therapeutics market is expected to rise steadily during the forecast period. Changes in people's present lifestyles have exposed a substantial portion of the population to the risk factors that contribute to liver cancer. Hepatocellular carcinoma is the most prevalent type of liver cancer, and it primarily affects people with chronic liver disease such as cirrhosis. Hepatocellular carcinoma is one of the biggest causes of cancer-related death worldwide. The disparity in major risk factors, such as hepatitis C virus (HCV) and hepatitis B virus (HBV) infections, causing the hepatocellular carcinoma in those regions has been observed, resulting in higher incidence rates of hepatocellular carcinoma in the developing Latin American countries than developed countries.
Brazil is expected to be the market leader in the Latin American liver cancer therapeutics market during the projected period. In addition, hepatocellular carcinoma therapies are predicted to be in high demand due to an increase in the frequency of the disease.
After Brazil, Argentina is predicted to hold the second-largest proportion of the Latin American market for liver cancer therapy. The market would be driven by the rising cancer incidence and significant unmet medical requirements in this area over the forecast period.
KEY MARKET PLAYERS:
Companies playing a prominent role in the Latin America liver cancer therapeutics market profiled in this report are Alnylam Pharmaceuticals Inc., ImClone Systems Inc., Onyx Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd., Pfizer Inc., ArQule Inc., Jennerex Biotherapeutics Inc., Celsion Corp., Bayer Schering Pharma AG, 4SC AG, and Bristol-Myers Squibb Company.
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