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South and Central America Cell Therapy Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Therapy Type ; Product ; Technology ; Application ; End User and Country

South and Central America Cell Therapy Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Therapy Type ; Product ; Technology ; Application ; End User and Country

  • February 2021
  • 123 pages
  • ID: 6027867
  • Format: PDF
  • The Insight Partners

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The South and Central America cell therapy market is expected to reach US$ 415.8 million by 2027 from US$ 271.9 million in 2019; it is anticipated to grow at a CAGR of 5.5 % during 2019-2027.
The South and Central America cell therapy market is growing primarily due to increasing prevalence of chronic diseases, rising adoption of regenerative medicines, and growing number of approvals for cell-based therapies. Factors such as high cost of cell therapy manufacturing restraining the growth of the market.
Mainly stem cells are used for cell therapies because of their ability to differentiate specific cells required for repairing damaged or defective tissues or cells.Moreover, cell therapy also has applications in the development of regenerative medicines.

The Middle East & Africa is hindered due to the burden of chronic diseases owing to the lack of proper healthcare system across the region and low awareness about the novel therapeutics available in the market.The prevalence of cancer in South and Central America is constantly increasing.

According to the American Cancer Society report 2018, around 1.3 million new cancer cases and 666,000 cancer deaths occurred in Latin America and the Caribbean. Moreover, according to the same source, out of all the cancer cases, the number of prostate, breast, and colorectal cancer cases is high in the Latin America and Caribbean region.
According to National Cancer Institute (INCA) estimates, Brazil reports about 393,000 new cases of cancer per year.According to the World Health Organization’s (WHO) report published in May 2019, around 559,371 cases of cancer were observed in Brazil in 2018, out of which, 278,607 males and 280,764 females were suffering from cancer.

Moreover, according to the same source, in 2018, about 85,620 cases of breast cancer were diagnosed in Brazil, which was the highest among all types of cancer cases recorded in the country. In 2018, WHO also reported that out of 1.3 million deaths in Brazil, around 74% were due to noncommunicable diseases (NCDs), which include cardiovascular disease, diabetes, cancer, and chronic lung diseases. Many of these chronic conditions can be treated with cell therapies, which would increase the demand for cell therapies in the coming years.
The COVID-19 pandemic has become the most significant challenge across South and Central America.Countries such as Brazil and Argentina have also registered a significant number of positive patients.

As per Worldometers, in Brazil, the number of cases increased to about 8.82 million, with 216,000 deaths till date (January 21st 2021). With the second wave of the COVID-19 outbreak, there has been an increasing number of cases in Latin America. Currently, the Brazil is rapidly increasing its clinical programs to fight against the outbreak. There has been a rising focus on cell and gene therapies to treat COVID-19 effectively. For instance, Brazilian Association of Hematology, Hemotherapy and Cellular Therapy have constituted a panel of experts to carefully examine and review the use of cell therapies for the treatment of COVID 19.
In 2019, the allogeneic segment accounted for a larger share of the South and Central America cell therapy market.The growth of the market for this segment is attributed to the factors such as increasing number of product launch to accelerate the overall product availability for stem therapy using allogeneic stem cell therapeutics.

However, the autologous segment is likely to register a higher CAGR in the market during the forecast period.
A few of the significant secondary sources referred to while preparing the report on the South and Central America cell therapy market are the World Health Organization (WHO), Food and Drug Administration (FDA), Centers of Disease Control and Prevention (CDC), American Cancer Society, and Brazil National Health Surveillance Agency or ANVISA, and Brazilian Association of Hematology, Hemotherapy and Cellular Therapy.
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