Latin America Thyroid Cancer Market

Latin America Thyroid Cancer Market Size (2023 to 2028)

As per our report, the Latin American Thyroid Cancer Market size is expected to grow USD 163.51 million by 2028 from USD 45.02 million in 2023, registering a CAGR of 29.43% from 2023 to 2028.

Thyroid cancer occurs in the thyroid cells. Thyroid cancer does not always generate symptoms. When it expands, though, it produces pain and swelling in the neck. It occurs when thyroid cells suffer mutations, allowing the cells to grow fast.

The increasing number of thyroid cancer and the availability of advanced treatment procedures drive the thyroid cancer market in Latin America. In addition, the growing geriatric population is one of the factors influencing the thyroid cancer market during the forecast period.  Growing awareness about thyroid cancer prevalence affects the demand for treatment options in the region. Furthermore, increasing investment and funding by the government to develop healthcare infrastructure and R&D activities are boosting the market growth. The initiatives taken by the government to create awareness among the people about thyroid cancer prevalence and the availability of advanced treatment procedures are growing the thyroid cancer treatment market in the Latin American region. 

In addition, the technological advancements in the healthcare sector and the growing adoption of advanced treatment procedures are expected to accelerate the market growth. On the other hand, factors such as improving healthcare sectors, high healthcare spending, and the availability of advancing healthcare infrastructure influence market growth. Thyroid cancer diagnostics is witnessing significant growth due to the technologically advanced tools and innovative products such as drug delivery devices fuelling the market growth.  Other factors such as the growing population, the Adoption of an unhealthy diet filled with fat and sugar, and low exercise are the reasons attributed to the increasing causes of thyroid cancer. According to the WHO record, the disease prevalence is majorly high among children and teens, nearly 2.0%. 

However, the high treatment cost and the lack of standardization are expected to be hampering the growth of the Latin American thyroid cancer market. 

This research report on the Latin American thyroid cancer market has been segmented and sub-segmented into the following categories.

By Treatment:

• Surgery
• Iodine Therapy
• External Therapy
• Thyroxine treatment
• Chemotherapy
• Drugs

By Drug: 

• Levothyroxine
• Radioiodine

By End User: 

• Hospitals
• Oncology Centres
• Hospital Pharmacies
• Retail Pharmacies

By Country: 

• Brazil
• Argentina
• Mexico
• Chile
• Rest of Latin America

Latin America is anticipated to record a moderate share in the market during the forecast period. The factors include improvement in the healthcare infrastructure, increasing disposable income, and the presence of key manufacturers. In addition, the regional government is taking initiatives to create awareness through medical tourism and develop cancer testing centers across the region. 

Emerging countries like Argentina, Mexico, and Brazil contribute to regional market growth.

Brazil is most likely to register the majority share of the Latin American thyroid cancer market owing to the increasing thyroid cancer cases, technological advancements in the healthcare sector, and high healthcare expenditure. 

The Mexican market is one of the fastest-growing markets in Latin America. The market is anticipated to register a significant share during the forecast period. Thyroid cancer is the most concerning problem across Mexico. The initiatives taken by the government, growing consumer awareness, and increasing the aging population are fuelling the market growth. 

Argentina, on the other hand, is estimated to showcase a promising share in the market during the forecast period. The rising number of people affected by autoimmune disorders, increasing number of thyroid disorders, and supportive government policies augment the market growth. 

KEY MARKET PLAYERS:

Companies playing a significant role in the Latin American thyroid cancer market profiled in this report are Baxter International Inc., Mylan Pharmaceuticals Inc., Alara Pharmaceutical Corporation, Bristol Myers co, Abbott laboratories, Teva parenteral medicines Inc., App pharmaceuticals LLC, and Jerome Stevens Pharmaceuticals Inc.