The size of the Pancreatic Cancer Market in Latin America is predicted to value USD 0.46 billion by 2027 from USD 0.31 billion in 2022, growing at a CAGR of 7.88% during the forecast period.
The Latin American pancreatic cancer market is projected to be fuelled by the increasing tobacco consumption, smoking, obesity, and growing awareness about various treatment options. Unlike traditional treatments such as chemotherapy, targeted therapy isolates specific receptors found in cancer cells and does not harm the body's healthy peripheral cells.
On the other hand, the expansion of the pancreatic cancer therapy market may be due to the rising healthcare expenditures for pancreatic medicines and increased therapies. Moreover, throughout the projected period, effective treatment for pancreatic cancer is likely to boost the market.
The rising prevalence of pancreatic cancer is propelling the pancreatic cancer therapeutics market in developed countries due to the lack of treatment techniques for early-stage diagnosis. The high prevalence of pancreatic cancer, which causes germline mutations, is increasing market demand. Also, the growing geriatric population is more prone to various diseases, including Pancreatic cancer. The peak incidence of pancreatic cancer is seen in the age group of 65 to 75 years; therefore, increasing the geriatric population in Latin America propels market growth.
Developing countries such as Brazil, Mexico, and Argentina are witnessing advanced technology in the healthcare sector.
The market has been expanding at a rapid rate in recent years. The increase is primarily due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously resulted in restrictive containment measures such as social distancing, remote working, and the closure of commercial activities, all of which created operational challenges.
However, adverse effects from medicines and a low treatment success rate are likely to limit the market for pancreatic cancer therapeutics in the Latin American region.
This research report on the Latin American Pancreatic Cancer Market has been segmented & sub-segmented into the following categories:
By Treatment Type:
By Cancer Type:
By End User:
Geographically, the Latin America Pancreatic cancer market is growing at a moderate rate. Pancreatic cancer is more common in Latin American countries, with Brazil and Mexico having the most significant proportion of pancreatic cancer patients in the region. As a result, Latin America is expected to account for a considerable portion of the pancreatic cancer treatment market in the coming years, with the highest revenue share. The enhanced healthcare infrastructure, widespread acceptance of pancreatic treatment techniques, and a large target population are all factors. Furthermore, the rising prevalence of pancreatic cancer is driving up demand for treatment options. Also, the presence of significant growth contributors such as Brazil and Mexico are expanding the Latin American pancreatic market. The presence of well-established hospitals and an increasing patient pool suffering from the pancreas are majorly driving the market in these countries. Also, the favorable government initiative and investments encourage the market participant to cope with the regional market players expanding the market growth in Latin America.
KEY MARKET PLAYERS:
A few of the prominent companies operating in the Latin American pancreatic cancer market profiled in this report are Eli Lilly, Amgen, Inc., Celgene Corp., F. Hoffmann-La Roche, Clovis Oncology Inc., Pfizer, Novartis AG, Threshold Pharmaceuticals Inc., Aduro BioTech Inc., Infinity Pharmaceuticals Inc., and NewLink Genetics Corp.
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