Latin America cancer biomarkers market is growing at a CAGR of around 11.1% during the forecast period. The significant increase in prevalence of cancer is the major factor behind fueling the Latin America cancer biomarker market. Change in life style, vulnerability to various infectious disease, lack of awareness about the disease and lack of infrastructure are the major reason attributed for the prevalence of cancer.
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The key driving factors for the growth of the Latin America cancer biomarker market include rise in the number of cancer cases. Due to rise in the number of cases, there has been an increasing demand for highly effective chemotherapeutic agents which in turn drives the market. In Latin America, the estimates show there will 72% rise in incidence of cancer in men and 62% in women by 2030.
The major cause behind the malignant disease is living more sedentary lifestyle, smoking, and consumption of unhealthy food in Latin America. The prevalence of prostate cancer is highest, and it has increased significantly from 477,000 to 540,402, with 3 years from 2014-2016. Prostate cancer leads to highest deaths in the region. Breast cancer follows the former type, it is attributable for second largest amount of death due to cancer, the prevalence rate has also increased in the same pace. The other types of cancer have prevailed but not significantly in past few years.
The Latin American region is growing with a positive pace in cancer biomarker market owing to advancement in medical healthcare facilities which encourage the diagnostics of the cancers. Government support and involvement of WHO from the last two decades enable to promote awareness and promoted health coverage (Insurance) in low-middle income countries.
The government in Latin America is continuously investing around 6.2% of their GDP in the healthcare sector. Breast cancer is the most common cancer and leading cause of cancer deaths in women of Latin America. Several countries exhibit some of the highest mortality rates in the world, highlighting the health disparities in the region. Earlier diagnosis in addition to the advances in treatment has led to better outcomes and longer survival for women with breast cancer. Thus, it will contribute to the Latin America cancer biomarker market growth during the forecast period.
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Latin America Cancer Biomarker Market
By Biomarker Type
- Genetic Biomarker
- Protein Biomarker
By Cancer Type
- Lung Cancer
- Prostate Cancer
- Breast Cancer
- Colorectal Cancer
- Cervical Cancer
- Drug Discovery and Development
- Risk Assessment
By Profiling Technology
- Omics Technology
- Abbott laboratories Inc.
- Astellas Pharma Inc.
- Becton, Dickson and Co.
- Bio-Rad Laboratories, Inc.
- Danaher Corp.
- F. Hoffmann-La Roche Ltd.
- Merck and Co., Inc.
- Novartis AG
- Pfizer Inc.
- QIAGEN GmbH
- Thermo Fisher Scientific Inc.
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