Market Trends of Latin America Melanoma Diagnostics and Therapeutics Industry
This section covers the major market trends shaping the Latin America Melanoma Diagnostics & Therapeutics Market according to our research experts:
Biological Therapy is Expected to Witness High Growth Over the Forecast Period
Immunotherapy or biological therapy is the treatment of disease by activating or suppressing the immune system. Immunotherapy has a significant share, which can be attributed to the effectiveness of drugs used in immunotherapy and the increase in their approval. For example, in April 2021, PlantForm Corporation, PlantPraxis Biotecnologia, and Bio-Manguinhos/Fiocruz (Ministry of Health of Brazil) announced an R&D collaboration agreement to develop biosimilar pembrolizumab for the Brazilian market. The original antibody drug, pembrolizumab, is widely used in immunotherapy to treat a variety of cancers, including melanoma, lung cancer, head and neck cancer, and stomach cancer. Such collaborations enhance the research of biological therapy for melanoma in the region and support the growth of the segment.
As per the article published by the AGRIS in 2021, the operations range in dendritic cell (DC) numbers and injection times, for which therapy significantly reduces the tumor. The study concluded that pulsed dendritic cell immunotherapy prevents tumor relapse when doses and periods fall within a certain range. This rising research and the growing incidence of melanoma in these regions further boosts growth over the forecast period.
Brazil is Expected to have a Higher CAGR over the Forecast Period
An increase in the incidence of skin cancer in Brazil is anticipated to drive the melanoma diagnostics and therapeutics market in the country. For instance, according to the article published in Sociedade Brasileira de Dermatologia, 2021, melanoma skin cancer represents 3% of malignant skin tumors in Brazil. In the evaluated sample, 60.5% of cases were diagnosed with basal cell carcinoma, 30.2% squamous with cell carcinoma, and 9.3% with melanoma. Furthermore, the increasing launches and initiatives in the country propel the growth of the market over the forecast period. In December 2021, the December Orange campaign, a melanoma awareness campaign conducted every year in Brazil combined the care for the covid-19 pandemic with the prevention of skin cancer. The campaign recommends adopting the habit of photoprotection in society. Such initiatives create an awareness of the diagnosis and in turn propel the treatment market as well in the country.
