LAMEA Metastatic Cancer Drugs Market Size, Share & Industry Trends Analysis Report By Distribution Channel, By Indication, By Therapy (Targeted Therapy, Immunotherapy, Hormonal Therapy and Chemotherapy), By Country and Growth Forecast, 2023 - 2030
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Market Report Description
The Latin America, Middle East and Africa Metastatic Cancer Drugs Market would witness market growth of 11.3% CAGR during the forecast period (2023-2030).
The market has expanded due to substantial developments in metastatic cancer research & development. Ongoing research has resulted in a greater understanding of the molecular mechanisms underlying metastatic cancer, identifying novel targets, and the development of innovative therapeutics. The discovery and development of targeted medicines and personalized medical methods have been helped by technological developments such as genomics, proteomics, and high-throughput screening techniques.
Increased use of targeted medicines, which explicitly target molecules and pathways implicated in metastatic cancer progression, has also become an essential therapy component. Trastuzumab, pertuzumab, and CDK4/6 inhibitors, among other medications, have demonstrated notable success in particular metastatic breast, ovarian, and prostate cancer subtypes. In addition, immunotherapies that use the immune system to combat cancer cells, such as immune checkpoint inhibitors, have shown promise in subgroups of patients with breast, colorectal, and prostate cancer. The creation and acceptance of these immunotherapies and targeted treatments have increased treatment options and fueled market expansion.
According to data from the International Agency for Research on Cancer's (IARC) GLOBOCAN 2018 database, the estimated results of 36 cancer types available from 47 countries in WHO's African region (AFRO) revealed that 811,200 new cancer cases (4.5% of the total world) and 534,000 cancer deaths (7.3% of the total world) were reported in AFRO countries in 2018. The estimated cancer burden in AFRO countries is mostly due to breast cancer, which accounts for 27.7% of all cancer cases, trailed by cervical cancer, which accounts for 19.6% of all cases. When taken as a whole, this is the most prevalent in African girls. Prostate cancer was the most frequent cancer in African men, accounting for 18.1% of all cases, followed by liver cancer (9.7% of all cases) and colon cancer (6.9% of all cases). In terms of pediatric cancer survival rates, they are as low as 20% in African children and as high as 80% in high-income countries. This high incidence of cancer cases raises the need for metastatic cancer drugs in LAMEA region.
The Brazil market dominated the LAMEA Metastatic Cancer Drugs Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,552.3 million by 2030. The Argentina market is showcasing a CAGR of 11.9% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 11% during (2023 - 2030).
Based on Distribution Channel, the market is segmented into Hospital Pharmacies, Drug Store & Retail Pharmacies and Online Providers. Based on Indication, the market is segmented into Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer and Melanoma & Others. Based on Therapy, the market is segmented into Targeted Therapy, Immunotherapy, Hormonal Therapy and Chemotherapy. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bristol Myers Squibb Company, Merck & Co., Inc., AstraZeneca PLC, Novartis AG, Eli Lilly And Company, Pfizer, Inc., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Amgen, Inc. and Sanofi S.A.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel
- Hospital Pharmacies
- Drug Store & Retail Pharmacies
- Online Providers
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Colorectal Cancer
- Melanoma & Others
- Targeted Therapy
- Hormonal Therapy
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Bristol Myers Squibb Company
- Merck & Co., Inc.
- AstraZeneca PLC
- Novartis AG
- Eli Lilly And Company
- Pfizer, Inc.
- F.Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Amgen, Inc.
- Sanofi S.A.
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