The Latin American Kidney Cancer Diagnostics and Therapeutics Market was worth USD 0.26 billion in 2022 and is estimated to grow at a CAGR of 5.21%, reaching USD 0.34 billion by 2027.
Kidney cancer is one of the most commonly diagnosed cancers nowadays.
People with high blood pressure, family history of kidney cancer, genetic and hereditary risk factors, advanced kidney disease, changes in lifestyle such as less physical activity are most likely to get diagnosed with kidney cancer. Excessive consumption of unhealthy food, drinking and smoking, and approval of novel drugs for treatment could also lead to kidney cancer. Y-O-Y rise in the incidence of kidney cancer in Latin American countries primarily promotes the market's growth rate.
In addition, factors such as rising healthcare expenditures and unique medication development breakthroughs also contribute to the market's growth.
The public's understanding of kidney disorders and how to treat them has greatly improved, particularly in developing regions such as Latin America. In addition, the rise of different therapies in cancer treatment, such as immunotherapy, has rekindled interest among eligible patients because it is a newly developed treatment modality with fewer side effects than radiation therapy and chemotherapy, which are traditional therapeutic options in kidney cancer management. However, rising consumer preference for generic pharmaceuticals and the high costs of branded cancer drugs are projected to stifle market growth during the forecast period.
This research report on the Latin American kidney cancer diagnostics and therapeutics market has been segmented and sub-segmented into the following categories:
The market in the Latin American region is anticipated to grow steadily during the forecast period due to several factors, such as the rising aging population and the robust economic growth of countries in this region. In addition, the growth of the Latin American kidney cancer medications market is primarily influenced by the presence of a huge patient pool, major market vendors, and well-established healthcare infrastructure.
Among various countries of Latin America, Mexico is predicted to register a healthy growth rate during the forecast period. According to NCBI resources, approximately 20% of adult Mexicans are current smokers. According to the American Cancer Society (ACS), over 64,000 persons in Mexico are diagnosed with kidney cancer each year, with men accounting for roughly 64% of those diagnosed. The average age of cancer diagnosis is 64 years old and up. In Mexico, new cases are expected to total 76,080 in 2022, with 13,780 persons dying from kidney cancer.
KEY MARKET PLAYERS:
Companies playing a major role in the Latin America kidney cancer diagnostics and therapeutics market profiled in this report are GlaxoSmithKline, Bayer, Pfizer, Sanofi S.A, Hoffmann La Roche, Novartis, and Abbott Laboratories.
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