LATAM Oncology Drugs Market - Forecast(2022 - 2027)

Report Code: HCR 1474 Report Format: PDF + Excel

Latin America Oncology Drugs Market Overview

In Latin America Oncology Drugs Market, the Mexico Market size was estimated at $1.3 billion in 2020 and is projected to grow at CAGR of 12.0% during the forecast period 2021-2026. Oncology is a medical specialty that focuses on cancer prevention, diagnosis, and therapy. Cancer is a disease characterized by abnormal cell proliferation that leads to the development of a tumor. Benign tumors, on the other hand, are not cancers. The aberrant tumor cells tend to spread through the blood and lymphatic system to other local tissues and various areas of the body. Cancer treatment is dependent by the disease's stage. An increase in cancer prevalence, an unhealthy lifestyle, and an aging population are the primary factors driving the growth of the Latin American oncology drugs market. The Latin America oncology Drugs Market is expected to grow considerably owing to the growing prevalence of cancer in this region. Throughout 2018, 1.3 million new cancer cases and 666,000 cancer deaths were recorded in Latin America and the Caribbean, according to a report issued by the American Cancer Society. Prostate, breast, and colorectal cancer incidences are notably high in Latin America and the Caribbean, according to the same source. Furthermore, owing to the increased medication approvals and the development of biosimilar medicines for cancer therapy, the oncology drugs industry has seen remarkable expansion in recent years. Rising cancer-related healthcare spending has prompted an increase in research and development operations aimed at generating new cancer medicines that are both highly effective and have few adverse effects. Several studies are being conducted to target cancer at the molecular level in order to develop novel cancer therapies. According to a report published in The Biopharmaceutical Pipeline in 2013, novel molecular entities for cancer therapy account for 80% of total cancer treatment pipeline items. 

Report Coverage

The report: “Latin America Oncology Drugs Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Latin America Oncology Drugs Market.
By Disease Type: GU Malignancies (Balder Cancer, Testicular Cancer, Prostate Cancer, Kidney Cancer), Carcinoma (Lungs Cancer, Breast cancer, Colon Cancer, Skin Cancer), Sarcoma (Bone Cancer, Alveolar, Cancer, Muscle Cancer), Leukaemia and Other
By Therapy Type: Chemotherapy, Hormone Therapy, Targeted Therapy and Immune Therapy
By Country: Mexico, South America (Brazil, Chile, Colombia, Argentina, Rest of South America)

Key Takeaways

  • Rising prevalence of cancer in Latin America is driving the Latin America Oncology Drugs Market. According to the Global Cancer Observatory's 2019 report, about 53,365 new instances of cancer were registered in Chile in 2018, with around 28,443 people dying from cancer. 
  • Furthermore, according to the same source, about 6,576 persons were diagnosed with prostate cancer in 2018, making it the most common kind of cancer in Chile.
  • Owing to the rising prevalence of cancer in the area, businesses are focusing on R&D of technologically sophisticated devices for cancer treatment, which is likely to fuel market expansion. 
  • Moreover, the growing consumption of alcohol and smoking are driving the market. According to the American Cancer Society and Vital Strategies, co-publishers of the Tobacco Atlas, hundreds of thousands of Latin Americans die each year from tobacco-related diseases. 

Latin America Oncology Drugs Market: Market Share (%) by Disease Type, 2020

Latin America Oncology Drugs Market

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Latin America Oncology Drugs Market Segment Analysis – By Disease Type:

Based on Disease Type, Latin America Oncology Drugs Market is segmented into, GU Malignancies, Carcinoma, Sarcoma, Leukaemia and Other. Carcinoma segment is accounted for the largest revenue market share in 2020 and is predicted to grow with the fastest CAGR of 13.3% in the forecast period 2021-2026 owing to the growing prevalence of cancer in this region. According to International Agency for Research on Cancer, in 2020, number of cancer cases reported in female are 292,098. Where, 88,492 (30.3%) is accounted for breast cancer, 27,756 (9.5%) in colorectum cancer, and 17,247 (5.9%) Lung cancer in female population. In most LATAM countries, lung cancer mortality has been decreasing in men but not in women, reflecting smoking patterns in countries such as Chile, Bolivia, and Brazil. According WHO’s 2013 report, the smoking rate in the Central and South America area was 1.2-9 times greater in males (12 years and above) than in women (12 years and above). The countries with greatest smoking prevalence in this area are, Chile with 40.6%, Cuba, Uruguay, Argentina, Ecuador and Venezuela ranging from 21%-25%. While EI Salvador, Belize and Costa Rica, had the lowest smoking prevalence (10.2%-12.8%). The WHO created the Framework Convention on Tobacco Control with the goal of reducing smoking prevalence and exposure to tobacco smoke by a third by 2025.

Latin America Oncology Drugs Market Segment Analysis – By Therapy Type:

Based on Therapy Type, Latin America Oncology Drugs Market is segmented into Chemotherapy, Hormone Therapy, Targeted Therapy, and Immune Therapy. Targeted Therapy accounted for the largest revenue market share in 2020 and is growing with fastest CAGR of 15.3% in the forecast period 2021-2026 owing to the increased incidence of cancers such as breast cancer, lung cancer, colorectal cancer, gastrointestinal cancer, and others, the market for targeted therapy treatments is growing. Targeted cancer therapies work by interfering with particular chemicals involved in cancer cell formation and expansion, such as DNA or proteins, to prevent cancer cells from growing and multiplying. Targeted cancer treatments differ from regular chemotherapy in numerous ways. Targeted treatments are very useful in the development of precision medicine because they employ information about a person's gene and protein to prevent, diagnose, and cure disease.

Latin America Oncology Drugs Market Segment Analysis – By Country:

Based on Country, Brazil in Latin America Oncology Drugs Market accounted for the 66% revenue share in 2020 and is growing with the fastest CAGR of 13.9% in the forecast period 2021-2026. This is majorly attributed to the rising prevalence of cancer in the nation, which is enabling demand for cancer treatment and growing approval of innovative products for cancer treatment. According to a World Health Organization study released in May 2019, there were about 5,59,371 cancer cases reported in Brazil in 2018, with 278,607 men and 280,764 females suffering from cancer. Furthermore, according to the same source, about 85,620 instances of breast cancer were detected in Brazil in 2018, the largest number of all cancer cases diagnosed. Brazil is one of the most promising oncology markets in emerging economies. Brazil is one of the most important and appealing markets for Oncology. Both private and public payers exist in the nation, and both are expanding their coverage of essential cancer treatments. In addition, the public infrastructure for cancer treatment is expanding. Brazil's National Cancer Institute (INCA) predicts that around 393,000 new cases of cancer are diagnosed each year based on national mortality statistics. According to International Agency for Research on Cancer in 2020, 592,212 new cancer cases and 259,949 deaths were reported in Brazil. Furthermore, according to the same source around 300,114 cancer cases are reported in males and 292,098 cases reported in females in the year 2020. The challenge for Brazil's health system is to rapidly detecting and diagnosing cancer patients who have fallen through the gaps, as well as to provide them with appropriate treatment. Pharmaceutical firms and health-care providers share common interests in this area. Pharmaceutical companies have financial incentives to go above and above to help patient identification efforts, given the critical patient advantages that cancer medicines bring.

Latin America Oncology Drugs Market Segment Analysis-Drivers

Increasing Prevalence of Cancer:

World Health Organization says Cancer is a significant cause of mortality worldwide and said that 10 million people died from cancer in 2020. According to the WHO, breast, colorectal, prostate, skin, stomach, and lung cancer are among the most prevalent malignancies. The rising number of cancer cases, as well as increased patient knowledge of the disease, are the primary drivers of market expansion. The rising number of cancer cases is projected to increase the demand for sophisticated cancer medicines in order to treat patients effectively. The expansion of the oncology industry is anticipated to be aided by an increase in the number of cancer cases throughout the world. The CDC reports that Cancer was the leading cause of death for 53,837 South Floridians between 2012 and 2016. According to POHO (Pan America Health Organization) Cancer deaths in the Americas region are expected to exceed 2.1 million by 2030. Between 2012 and 2030, the number of new cancer cases in Latin America and the Caribbean is anticipated to rise by 67%, a significantly faster rate than in North America. According to the 2019 report of International Agency for Research on Cancer's, around 190,667 persons in Mexico were newly diagnosed with cancer in 2018, with 83,476 patients dying as a result of the disease. Breast cancer was the most frequent cancer in Mexico in 2018, according to the same source, with 27,283 new cases.

Latin America Oncology Drugs Market Segment Analysis-Challenges

High Cost of Therapy:

Drugs for targeted therapy are highly expensive, costing about $14,000 per patient in the early stages of treatment. According to a research published in the Journal of Clinical Oncology in 2017, the medicines used in targeted therapy treatment are costly, with overall treatment costs ranging from $5,000 to $10,000 per month, totalling more than $100,000 per year. The targeted treatment medicines that are taken orally according to the prescription are covered by a variety of insurance providers. Intravenous medications, on the other hand, are covered differently by insurance companies, and patients wind up paying more money. According to a research issued by the Pharmaceutical Research and Manufacturers of America, cancer medications would account for around 20% of overall cancer treatment expenditures in 2019. The growing cost of targeted oral anticancer medications is a key contributor to the rising cost of targeted cancer treatments generally. According to American Cancer Society, Latin America has a 0.59 all-cancer mortality-to-incidence ratio compared to 0.35 in the U.S. This disparity is primarily due to severe illness stages at the time of initial presentation, as well as obstacles to care. Cancer cases are expected to rise by 35% in South America and 42% in Central America and Mexico by 2030, providing a significant challenge to Latin American health care systems, which are usually fragmented and underfunded.

Latin America Oncology Drugs Market Segment Landscape:

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Latin America Oncology Drugs Market. Latin America Oncology Drugs Market top 10 companies are Novartis AG, Hoffmann-La Roche Ltd, AstraZenca, Eurofarm, Pfizer, Johnson & Johnson Inc., Bristol-Myers Squibb Company, Amgen Inc., Merck KGaA and Abbive Inc.

Acquisitions/Product Launches:

  • In May 2019, Amgen Inc. and Syapse entered a precision medicine collaboration in oncology. Amgen and Syapse will collaborate to create observational research analytics to evaluate treatment results in cancer regions where there is a gap in therapy.

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1. Latin America Oncology Drugs Market Overview
    1.1 Definitions and Scope
2. Latin America Oncology Drugs Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Disease Type
    2.3 Key trends by Therapy Type
    2.4 Key trends by Country
3. Latin America Oncology Drugs Market - Comparative Analysis 
    3.1 Company Benchmarking
    3.2 Financials Analysis - Key Companies
    3.3 Market Share Analysis – Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis – Average Price
4. Latin America Oncology Drugs Market- Startup companies Scenario Premium Premium  
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Latin America Oncology Drugs Market – Industry Market Entry Scenario Premium Premium  
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Latin America Oncology Drugs Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Latin America Oncology Drugs Market -Strategic analysis
    7.1 Value chain analysis 
    7.2 Opportunities analysis
    7.3 Market life cycle
8. Latin America Oncology Drugs Market – By Disease Type (Market Size –$Million/$Billion)
    8.1 GU Malignancies
        8.1.1 Bladder Cancer
        8.1.2 Testicular Cancer
        8.1.3 Prostate Cancer
        8.1.4 Kidney Cancer
        8.1.5 Others
    8.2 Carcinoma
        8.2.1 Lungs Cancer
        8.2.2 Breast Cancer
        8.2.3 Colon Cancer
        8.2.4 Skin Cancer
        8.2.5 Others
    8.3 Sarcoma
        8.3.1 Bone Cancer
        8.3.2 Alveolar Cancer
        8.3.3 Muscle Cancer
        8.3.4 Others
    8.4 Leukemia
    8.5 Others 
9. Latin America Oncology Drugs Market – By Therapy Type (Market Size –$Million/$Billion)
    9.1 Chemotherapy
    9.2 Hormone Therapy
    9.3 Targeted Therapy
    9.4 Immune Therapy
10. Latin America Oncology Drugs Market - By Country (Market Size -$Million/$Billion)
    10.1 Mexico
    10.2 South America
        10.2.1 Brazil
        10.2.2 Chile
        10.2.3 Colombia
        10.2.4 Argentina
        10.2.5 Rest of South America
11. Latin America Oncology Drugs Market - Entropy
12. Latin America Oncology Drugs Market – Industry/Segment Competition Landscape Premium  
        12.1 Market Share by Countries- Key Companies
        12.2 Competition Matrix
        12.3 Best Practices for Companies
13. Latin America Oncology Drugs Market – Key Company List by Country Premium Premium
14. Latin America Oncology Drugs Market Company Analysis
    14.1 Company Revenue, Product & Services, M&A, Developments
    14.2 Company 1
    14.3 Company 2
    14.4 Company 3
    14.5 Company 4
    14.6 Company 5
    14.7 Company 6
    14.8 Company 7
    14.9 Company 8
    14.10 Company 9
    14.11 Company 10
    *Financials for private companies would be provided on a best-efforts basis”.