The size of the Bladder Cancer Therapeutics market in Latin America is expected to reach USD 43.49 million by 2027 from USD 33.78 million in 2022, growing at a CAGR of 5.18% from 2022 to 2027.
Bladder cancer is the sixth most frequently diagnosed male cancer and the ninth leading cause of cancer death worldwide.
Factors such as technological advancements, innovative treatments, advanced healthcare services, increased awareness of people about cancer therapies, and rising healthcare spending will drive the bladder cancer therapy market. Factors such as the growing influence of specific biologics, the introduction of new drugs, and the acceptance of effective diagnostic tools may increase the LATAM market demand for bladder cancer therapies. Bladder cancer is very common and increases with age. According to a 2020 report from Cancer Research UK, the incidence of bladder cancer increases with age. Besides, the geriatric population in Latin American countries is expected to increase in the future, according to a 2020 United Nations report titled “Aging World Population” 2020.
The most advanced treatment modalities for bladder cancer include immunotherapy, but the most widely used modality for bladder cancer is radiation therapy. Due to the historical prevalence of radiotherapy used in various forms of cancer and because chemotherapy is associated with low specificity and side effects. Radiation therapy also provides best-in-class efficacy in terms of dose frequency and price compared to other therapeutic modalities in bladder cancer treatment. Advances in radiotherapy and the expected increase in the number of patients with bladder cancer are expected to contribute to this market's growth.
The high costs of bladder cancer therapies and the disease's asymptomatic nature may slow market growth.
This research report on the Latin America Bladder Cancer Therapeutics market has been segmented & sub-segmented the market into the following categories:
The Latin American bladder cancer therapeutics market is estimated to hike at a steady growth rate during the forecast period. According to data from the World Health Organization (2020), the number of new bladder cancer cases in Brazil was 10,214, about 4.1% of all cancers in 2020. In recent years, awareness of bladder disease and its management has improved dramatically, especially in developing regions such as Latin America. Besides, the rise of different therapies such as immunotherapy in cancer treatment has rekindled the interest of eligible patients as it is a newly developed treatment modality and has fewer side effects than radiation therapy and chemotherapy, which are options conventional therapies in the treatment of bladder cancer. Therefore, with the growing awareness of bladder cancer and related therapies, the market for bladder cancer diagnostics and therapies in Latin America is expected to grow in the near future. Apart from this, factors such as increasing healthcare expenditure and innovations in developing new drugs.
Key companies leading the LATAM Bladder Cancer Therapeutics Market profiled in this report are Sanofi S.A. (France), Novartis AG (Switzerland), Pfizer Inc. (U.S.), GlaxoSmithKline plc (U.K.), Eli Lilly and Company (U.S.), AstraZeneca plc (U.K.), Bristol-Myers Squibb (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), and Celgene Corporation (U.S.).
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