Latin America Cancer Diagnostics Market Size & Outlook
Latin America cancer diagnostics market, 2018-2030 (US$M)
Related Markets
Latin America cancer diagnostics market highlights
- The Latin America cancer diagnostics market generated a revenue of USD 8,989.5 million in 2023.
- The market is expected to grow at a CAGR of 6.2% from 2024 to 2030.
- In terms of segment, consumables was the largest revenue generating product in 2023.
- Consumables is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 8,989.5 million |
| Market revenue in 2030 | USD 13,718.1 million |
| Growth rate | 6.2% (CAGR from 2023 to 2030) |
| Largest segment | Consumables |
| Fastest growing segment | Consumables |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Services, Instruments, Consumables |
| Key market players worldwide | Abbott Laboratories, Roche Holding AG, GE HealthCare Technologies Inc Common Stock, Qiagen NV, Becton Dickinson & Co, Koninklijke Philips NV, Siemens Healthineers AG ADR, Hologic Inc, Thermo Fisher Scientific Inc, Illumina Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.4% of the global cancer diagnostics market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 35,952.3 million by 2030.
Consumables was the largest segment with a revenue share of 59.97% in 2023. Horizon Databook has segmented the Latin America cancer diagnostics market based on services, instruments, consumables covering the revenue growth of each sub-segment from 2018 to 2030.
The Latin America cancer diagnostics market has exhibited significant growth in the past few years owing to the increase in prevalence of various types of cancer in the region. Several surveys by various government and nonprofit organizations revealed that overall cancer mortality in Latin America is almost twice that of high-income countries.
Moreover, according to data published by the European Society for Medical Oncology, there have been approximately 1.5 million new cancer cases and 700,000 deaths reported in Latin America and the Caribbean region annually.
These factors are expected to contribute to market growth during the forecast period. In the past few years, the region has witnessed rapid growth in cancer screening techniques, along with other cancer detection methods, owing to increasing funding & implementation of various cancer programs.
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Cancer Diagnostics Market Scope
Cancer Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America cancer diagnostics market size, by country, 2018-2030 (US$M)
Latin America Cancer Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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