The Latin America Cervical Cancer Diagnostics and Therapeutics market has been estimated at USD 489.87 Million in 2022. It is projected to reach USD 643.28 Million by 2027, at a CAGR of 5.60% during the forecast period from 2022 to 2027.
Cervical cancer is mainly caused by the human papillomavirus (HPV), a common sexually transmitted infection. According to the Pan American Health Organization, over 60% of cervical cancers occur in women between 35 and 60. HPV is associated with approximately 75% of cervical cancers. According to the World Health Organization (WHO), more than 275,000 women die from cervical cancer each year. The death rate from cervical cancer is higher in developing countries due to inadequate detection in the early stages of the disease. About 6-11% of women infected with high-risk types of HPV develop persistent infections, which can lead to precancerous lesions. According to a recent report, nearly 70,500 new cases and over 25,000 deaths occur each year in Latin America. The incidence and mortality of cervical cancer are the second-highest among cancers among women in the region. All the above data indicates the rising prevalence of cervical cancer in Latin America; this will provide new growth opportunities for the market in the projected period.
The factors driving the growth of the Latin American cervical cancer diagnostics and therapeutics market are the increasing prevalence of cervical cancer, negligence to long-standing cervical infections, increased use of oral contraceptive pills, increased awareness of early diagnosis, and strong R&D associated with cervical cancer diagnosis and therapeutics. With the growing adoption of cervical cancer diagnostic tests for the early detection of cervical cancer, increasing older age group who are more prone for cervical cancer, raising awareness about cervical cancer, and local government and cancer organizations initiatives on the emphasis on early testing to detect and prevent cervical cancer. In addition, increased awareness of the general population about the care, prevention, and treatment of cervical cancer, smoking, certain genetic predisposition, and weak immunity are also linked to the cervical cancer diagnostic and therapeutics market in Latin America.
The awareness programs aim to target early detection and widespread cervical cancer prevention education in the region. Awareness programs have contributed to the market's growth, which conducts camps to cover Pap tests, pelvic exams, and clinical breast exams for cervical cancer screening every two years. These programs have seen positive effects over the last decade.
However, factors such as high costs for developing testing kits, developing healthcare infrastructure, lack of healthcare awareness in developing and underdeveloped regions, and social stigma associated with the diseases are estimated to be limiting the growth rate of the Latin America cervical cancer diagnostics and therapeutics market are the.
This research report on the Latin America cervical cancer diagnostics and therapeutics market has been segmented and sub-segmented into the following categories:
By Diagnostics Test:
Geographically, Mexico is expected to hold the largest share of the Latin American cervical cancer diagnostics and therapeutics market during the forecast period. The market is anticipated to grow at a healthy CAGR of 4%. The market growth is attributed to the increasing prevalence of cervical cancer and the government initiatives for early detection. For example, according to the Latin American cancer society, over 5,000 new cases were diagnosed in the region in 2019. In addition, the studied market has experienced considerable growth over the past decade, which is attributed to the cytology-based screening activities that have been implemented in most Latin American countries.
During the forecast period, Brazil and Argentina are also expected to occupy a considerable share in the Latin American market. This is due to the increase in healthcare expenditure, growing R&D associated with cervical cancer diagnostics and therapeutics, and a large number of senior people in these regions. Additionally, the increase in revenues can also be due to favorable government efforts over the past several decades.
KEY MARKET PLAYERS:
A few of the prominent companies operating in the Latin America Cervical Cancer Diagnostics and Therapeutics market profiled in this report are Abbott Diagnostics, Alere, Beckman Coulter, Clinical Genomics, Companion Dx, EDP Biotech, Epigenomics AG, Exact Sciences, Fujirebio, Genomic Tree, Metabiomics, Oncocyte (Biotime), Quest Diagnostics, Randox Laboratories, Siemens Healthcare, and Volition Rx.
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