Latin America
Cancer Biomarkers Market Overview:
Latin America Cancer Biomarkers Market was worth USD 805 million
in 2018 and estimated to be growing at a CAGR of 12%, to reach USD 1,751 million
by 2025.
A cancer
biomarker refers to a substance or process that is indicative of the presence
of cancer in the body. Biomarkers may be produced by
the cancer tissue itself or by other cells in the body in response to
cancer. They can be found in the blood, stool, urine, tumor tissue,
or other tissues or bodily fluids. A comparison of cancer biomarkers at two
different sites is very helpful for identifying metastatic tumors. Many
different types of biomarkers have been characterized earlier and are in use in
many different cancer diagnostic testing procedures.
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Drivers and
Restraints:
Biomarker
research is having high importance these days owing to its benefits such as
accurate detection, easier diagnosis, and low chances of misdiagnosis during an early cancer diagnosis. Key driving factors for the market in Latin America are
restructured drug delivery procedure, non-invasive technology, augmented rates
of survival. Boost in government and private funding for oncology also fuels market development. The regional market is constrained by the high cost of
diagnosis, issues linked to reimbursement, and some of the regulatory policies.
Prostate cancer, breast cancer, lung
cancer, colorectal cancer, cervical cancer and other cancers, are different
types of devices that are having the need for biomarkers. Risk assessment,
development of molecular diagnostics, disease diagnosis, drug discovery and
development and drug formulation are some of the prominent applications that
are expected to create opportunities for this market in the future.
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Geographical
Analysis:
The Latin America market is poised to record the second highest compound
annual growth rate in the forecast period after the Asia Pacific due to the
supporting government funding for cancer biomarker research, increasing
prevalence of cancer, rising demand for advanced healthcare facilities in
developing economies such as Brazil, Mexico and Argentina, growing number of
clinical trials, and rising focus of international players in emerging markets.
Some of the
major players in this Latin America cancer biomarkers market are Abbott Laboratories, Agendia Bv,
Biocurex Inc, Biomerieux S.A., Biomoda Inc, Astellas Pharma Us Inc, Correlogic
Systems Inc, Beckman Coulter Inc, Becton, Dickinson And Company, Clarient Inc,
Diadexus Inc, Ambrilia Biopharma, Affymetrix Inc and Aureon Laboratories Inc.
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