The Latin America oncology drugs market size is estimated to reach USD 21.07 billion by 2026. In 2021, the market was sized at USD 13.10 billion, at a CAGR of 9.96% during 2021-2026.
Oncology helps study, diagnosis, and treatment of cancer. Cancer is a disease where abnormal cells grow uncontrollably and disrupt normal bodily functions.
Oncology drugs act against both metastatic and benign cancers which may include bone marrow cancer, lung cancer, bone cancer, skin cancer, gastrointestinal cancer, breast cancer, oral cancer, and gynecological cancer, etc. The LATAM oncology drugs market includes oral, intravenous, and parental drugs that act upon these abnormal cancerous cells and limit their growth.
The number of cancer diagnoses and deaths grows in lockstep with the need for cancer medications. As a result, this issue has a significant impact on the Latin America oncology drugs industry.
In addition, medical research is receiving increased focus to minimize cancer incidences. The sector is growing in line with rising healthcare costs in the region. The oncology industry has been bolstered by increasing cancer rates, moving the cancer therapy sector forward.
However, targeted therapy has gained in popularity as a cancer treatment in recent periods. They have a number of advantages over traditional treatment methods like chemotherapy and radiation.
An in-depth review of the market by product type elucidates the numerous types of oncology medications accessible.
On the other hand, The Latin American oncology drugs market is expected to be propelled by cutting-edge cancer treatment technologies and methodologies and increased healthcare spending in developing countries. As a result, CELGENE, Novartis, and Roche have established themselves as important players in the Latin American oncology pharmaceutical sector, with broad product portfolios and pipeline medicines garnering a significant market share.
Healthcare technology evaluation is becoming more widespread in most developed countries such as Brazil, Latin America, and Argentina.
Generic cancer pharmaceutical companies have formed strategic alliances to help them focus their efforts on developing high-efficacy generic oncology medicines. These strategic initiatives have paid off handsomely for these corporations, allowing them to preserve their market dominance in generic cancer medicines.
However, Chemotherapy drugs kill cancer cells while also destroying healthy cells in the body, causing many side effects for patients. The most common side effects include bone marrow suppression, gastrointestinal disorders, neuropathies, hair loss, fatigue, and skin illnesses. As a result, the market's growth is limited by the negative side effects of oncology treatments.
Stringent government regulations, expensive drug costs, and patient expiration are among the other factors restricting Latin American market expansion over the forecast period. Price management is a major concern in the oncology medication market, and financial risk-sharing agreements are routinely used. Pricing differences between original brands and generics are being looked into. Global trials are increasing patient recruitment to improve the local relevance of trials in Latin American regulatory processes and reduce time to market. Manufacturers should ensure that internal product development initiatives are linked from the beginning.
This research report on the Latin America oncology drugs market has been segmented and sub-segmented into the following categories:
By Drug Class Type:
By Distribution Channel:
By Route of Administration:
By Drug Classification:
The Latin America oncology drugs market is anticipated to witness a promising share during the forecast period. The regional market growth is projected to be fueled by the Proliferation of cancer rates, favorable reimbursement policies, and the presence of key market players. Breast cancer is also the most frequent type of cancer in American women. Brazil, Mexico, and Argentina play a significant role in the LATAM oncology drugs market. Even Peru and Chile are some countries that have a significant role in dealing with oncology drug development and providing better infrastructure. in some countries like Brazil, Mexico, and Argentina, prostate cancer is the most common in the regions. Cervical and liver cancers, on the other hand, are more common in other areas.
Brazil dominates the Latin America oncology drugs market during the forecast period, and it is likely to continue its growth in the coming years. The market growth is fueled by a significant increase in the healthcare infrastructure, healthcare expenditure, and growing awareness about oncology drugs. In addition, the government established healthcare investments, and several multi-national organizations are funding cancer medications.
On the other hand, Mexico is more likely to witness a promising share in the Latin America oncology drugs market in the coming years. Lung cancer is the most prevalent sort of drug use in the country. Mexico plays a significant role in the procurement of various anticancer prescription treatments in Latin America. Better cancer pharmaceutical treatments are being introduced to the market.
KEY MARKET PLAYERS:
F. Hoffmann-La Roche Ltd, Genentech, Inc., Novartis AG, Pfizer Inc., Bristol-Myers Squibb Company, GlaxoSmithKline plc, Eli Lilly and Company, AstraZeneca, Sanofi, and Bayer AG are some of the notable companies in the Latin America oncology drugs market.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferences
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Latin America Oncology drugs Market, By Type
6.2 Lung Cancer
6.3 Pancreatic Cancer
6.4 Breast Cancer
6.5 Prostate Cancer
6.6 Ovarian Cancer
6.7 Colorectal Cancer
6.8 Gastric Cancer
6.9 Kidney Cancer
6.10 Brain Cancer
6.11 Brain Cancer
6.12 Thyroid Cancer
6.12.1 Market Size Estimations & Forecasts (2021-2026)
6.12.2 Y-o-Y Growth Rate Analysis
6.12.3 Market Attractiveness Index
6.13 Latin America Oncology drugs Market, By Drug Class Type:
6.15 Targeted Therapy
6.16 Immunotherapy (Biologic Therapy)
6.17 Hormonal Therapy
6.17.1 Market Size Estimations & Forecasts (2021-2026)
6.17.2 Y-o-Y Growth Rate Analysis
6.17.3 Market Attractiveness Index
6.18 Latin America Oncology drugs Market, By Distribution Channel:
6.19 Hospital Pharmacies
6.20 Retail Pharmacies/Drug Stores
6.21.1 Market Size Estimations & Forecasts (2021-2026)
6.21.2 Y-o-Y Growth Rate Analysis
6.21.3 Market Attractiveness Index
6.22 Latin America Oncology drugs Market, By Route of Administration:
6.25.1 Market Size Estimations & Forecasts (2021-2026)
6.25.2 Y-o-Y Growth Rate Analysis
6.25.3 Market Attractiveness Index
6.26 Latin America Oncology drugs Market, By Drug Classification:
6.27 Branded Drugs
6.28 Generic Drugs
6.28.1 Market Size Estimations & Forecasts (2021-2026)
6.28.2 Y-o-Y Growth Rate Analysis
6.28.3 Market Attractiveness Index
7. Geographical Landscape
7.1 Latin America
7.1.1 By Country
18.104.22.168 Rest of Latin America
7.1.2 By Type
7.1.3 By Drug Class Type:
7.1.4 By Distribution Channel:
7.1.5 By Route of Administration:
7.1.6 By Drug Classification:
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Johnson & Johnson
8.4 Bristol-Meyers Squibb Company
8.5 AstraZeneca PLC
8.6 F Hoffmann-La Roche Ltd
8.7 Merck & Co
8.8 AbbVie Inc.
8.9 Astellas Pharma Inc.
8.10 Amgen Inc.
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
Regional, and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and also identify the areas that are still untapped.
The segment-level analysis in terms of type, drug class type, distribution channel, route of administration, drug classification, and region along with market size forecasts and estimations to detect key areas of industry growth in detail.
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development.
A comprehensive list of key market players along with their product portfolio, current strategic interests, essential financial information, legal issues, SWOT analysis, and analyst overview to study and sustain the market environment.
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies, and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions.
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations with a strong financial foothold in the market.