Due to factors such as growing prevalence of cancer in Latin America, oncology devices play a significant role in healthcare. According to the Global Cancer Observatory’s 2019 study, about 53,365 new cases of cancer were reported in Chile in 2018, with about 28,443 people dying from cancer. Furthermore, according to the same source, about 6,576 people were diagnosed with prostate cancer in 2018, making it the most common form of cancer in Chile.
Furthermore, due to an increase in cancer incidence in the area, key companies are focusing on research and development of technologically advanced devices for cancer care, which is expected to drive market growth. In January 2019, Medtronic PLC revealed that the 12-month findings of the NAVIGATE review, the largest prospective multicenter trial testing electromagnetic navigation bronchoscopy (ENB) procedures using the super Dimension navigation system to help in lung cancer detection, staging, and treatment, were published in the Journal of Thoracic Oncology. NAVIGATE revealed that 65 percent of patients diagnosed with primary lung cancer by doctors were in the early stages of the disease (Stage I or II).
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In 2020, the Latin America oncology device market is projected to be worth US$ 31.08 million, rising at a CAGR of 5.5 percent over the forecast period (2020-2027).
Increasing demand for oncology instruments due to the rising cases of cancer, is expected to stimulate growth of the Latin America oncology device market during the forecast period.
According to the International Agency for Research on Cancer’s 2019 study, around 190,667 patients were newly diagnosed with cancer in Mexico in 2018, and around 83,476 patients died as a result of cancer.
Increasing incidence of cancer is driving demand for oncology devices for the treatment of cancer. For instance, according to the International Agency for Research on Cancer’s 2019 report, in Mexico, around 190,667 patients were newly diagnosed with cancer and around 83,476 patients died due to cancer in 2018. According to the same article, breast cancer was the most common cancer in Mexico in 2018, with about 27,283 new cases.
Furthermore, according to the International Agency for Research on Cancer’s 2019 survey, around 190,667 patients were newly diagnosed with cancer in Mexico in 2018, and around 83,476 patients died as a result of cancer.
According to the same article, breast cancer was the most common cancer in Mexico in 2018, with about 27,283 new cases.
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Impact of COVID-19 epidemic
COVID-19 has spread to over 100 countries worldwide since its outbreak in December 2019, causing the World Health Organization to declare it a public health emergency.
According to a study published by the World Health Organization, the coronavirus (COVID-19) has infected over 14 million people worldwide as of July 24, 2020.
Due to the COVID-19 pandemic, key players in the Latin American oncology device market are facing significant challenges on multiple fronts.
One of the most significant difficulties in obtaining raw materials due to shipping irregularities.
Furthermore, due to the increasing incidence of COVID -19, distributors are seeing erratic demand for goods from retailers.
Furthermore, as the number of Covid-19 infections rises across the world, there is a growing shortage of life-saving equipment and other critical medical supplies needed to stop the pandemic from spreading and provide the best possible treatment to infected patients.
Furthermore, before a pharmacological treatment is established, ventilators are an important treatment option for COVID-19 patients who may need critical care. Moreover, for a wide variety of test-kits, there is an immediate need for rapid acceleration in the manufacturing process (antibody tests, self-administered, and others).
Reasons to Purchase this Report
• To gain an in-depth understanding of Latin America Oncology Device market globally
• To identify the on-going trends and anticipated growth in the next nine years
• To help industry consultants, Latin America Oncology Device market other stakeholders align their market-centric strategies
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• To gain competitive knowledge of leading market players
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- According to Chemotherapy Administration: Pump Chemotherapy Administration, Gravity Chemotherapy Administration, Syringe Chemotherapy Administration, Others.
- According to Accessories and consumables: Infusion Sets
Venous Access: Ports, Needle.
Catheter: CVC, PIC.
Syringe Filters, Needleless Connectors, Software.
- According to Age Group:
Pediatric: Teenager/ Adolescent (11 to 19 years), Infant (from birth to 1 year), Children (4 to 10 years), Adults.
- According to End User
Private Hospitals/ Clinics: Specialized Clinics, General Hospitals with Oncology Centers, Specialized Hospitals.
Public Hospitals / Clinics: General Hospitals with Oncology centers, Research Institutes, Hospitals, and Clinics.
Others: Homecare Settings.
The oncology devices market in Mexico is expected to develop significantly, owing to increased distribution agreements between key players seeking to expand their presence in the region.
For example, Novosanis, a Belgian medical device company, announced a distribution partnership with Distribuidora GAP in July 2016. Distribuidora GAP will market Novosanis’ Colli-PeeTM, a medical system for collecting first void urine, in Mexico as part of this deal. The Colli-PeeTM device makes detecting the Human papillomavirus, which can cause cervical cancer, simpler and more patient-friendly.
Furthermore, rising prevalence of cancer is expected to fuel growth of the Chilean oncology devices industry.
According to the National Center for Biotechnology Information, the estimated annual incidence of cancer in Chile in 2015 was about 35,000 new cases per year, with modified infection rates of 226 and 180 per 100,000 male and female participants, respectively, according to the National Center for Biotechnology Information.
Key companies contributing in the Latin America oncology device market are B. Braun Melsungen AG, Codan Argus AG, Medtronic plc, VOGT Medical, Becton, Smiths Medical, Inc., KGaA, Baxter International Inc., Dickinson and Company, ACE Medical, Fresenius SE & Co., Samtronic Industria e Comercio LTDA, Medical Components, Inc., Micrel Medical Devices, and EuroLife Healthcare Pvt. Ltd.
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