Latin American Oncology Therapeutics Markets

esearch Overview

This Frost & Sullivan research service titled Latin American Oncology Therapeutics Market provides an overview of key market drivers and restraints shaping the current market and depicting the future trends together with a comprehensive quantitative analysis covering current market size, market share and a 5-year market forecast for the three countries covered in the study. In this study, Frost & Sullivan's expert analysts thoroughly examine the following markets: Oncology products for cytotoxic and hormonal therapies combating lung, breast, and colorectal cancer in Brazil, Mexico, and Argentina.

Market Sectors

Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:

• Oncology products combating lung cancer
• Oncology products combating breast cancer
• Oncology products combating colorectal cancer

Technologies

The following technologies are covered in this research:

• Cytotoxic
• Hormonal

Market Overview

New Treatments for Cancer to Emerge in Latin America

Oncology therapy products markets are undergoing dynamic development in many countries around the world. New molecules are constantly being researched and launched by large pharmaceutical companies aiming to develop their portfolios and replace expired drugs. However, advances first introduced in the United States and Europe reach Latin America with some delay. "Nevertheless, as the disease’s rate increases steadily in this region and companies become more global everyday, this time gap will progressively reduce," says the analyst of the study. "In the long term, if the political and economic situation continues to improve, those advances will reach Latin America almost simultaneously as the rest of the world."

Until 2000, cancer treatment (diagnosis, surgery, chemotherapy, radiotherapy, and palliative care) was available almost exclusively only in hospitals based in big Latin American cities. As a result, a large number of people, especially inhabitants from farther regions, still have no access to cancer diagnosis and treatment. This uncovered population can also easily cause an under-estimation of cancer incidence in Latin America. Over the past five years, however, governments are making efforts to expand the coverage of treatment to this population thus expanding the horizons of oncology therapeutics markets.

Pharmaceutical Companies’ Extensive Product Lines to Boost Latin American Oncology Markets

Latin America offers a diverse landscape in terms of market development for oncology products. Most tier 1 pharmaceutical companies have subsidiaries in important countries in this region and compete for price and qualitative differentiation. This competition is also extended toward local companies selling copies of patent-expired products. Due to their competitive edge in terms of price, firms selling generics are well positioned with regard to public sector purchases.

The Latin American oncology market is growing - both the quantity and variety of the compositions in the pharmaceutical company’s drug pipelines contribute to this. Due to its size and demographic attributes, this region is a permanent receptor of new drugs. A direct result is that multinational companies are focusing more than ever on R&D activities. Even though regulations for the approval of new products are difficult to comply with, for the medium term companies become successful at introducing their new discoveries into this market. "Successful R&D performances become pharmaceutical companies’ main assets," explains the analyst. "Their commercial interests mainly consist of generating the necessary resources to feed R&D activities and generate new and effective drugs and this is likely to boost the growth of the oncology therapeutics market in this region."