The market studied is majorly driven by factors, such as the increasing prevalence of pancreatic cancer and the increasing demand for diagnostic tests and treatments of this disease. As a result, many governments and non-profit organizations have taken initiatives to spread awareness regarding pancreatic cancer in the South American region.
Moreover, the technological advancements in diagnostics and treatments have have led to solutions that are more efficient. Hence, all these are the major factors that have propelled the growth of the market.
Key Market Trends
Chemotherapy Segment is Expected to Cover a Large Share of the Pancreatic Cancer Therapeutics & Diagnostics Market
Chemotherapy is the use of drugs to destroy cancer cells, usually by ending the cancer cells ability to grow and divide. A chemotherapy regimen, or schedule, usually consists of a specific number of cycles given over a set period of time. There is usually a rest period in between cycles. A patient may receive 1 drug at a time or a combination of different drugs given at the same time. Chemotherapy thus is an important part of multimodality pancreatic cancer treatment. After curative resection, adjuvant chemotherapy can significantly improve disease-free survival and overall survival. Therefore this will increase the demand for chemotherapy therapy in future, which is expected to help the market growth.
South America is a developing region. Although the healthcare system in many countries in the region are not highly developed, these countries are spending more each year in their healthcare system. This has encouraged many global companies to enter the market and as a result, many global players in the pancreatic cancer therapeutics and diagnostics market are present in the region. These factors have made the region very competitive.
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