The cancer therapeutics market size is expected to reach US$ 24,601.57 million by 2031 from US$ 11,494.24 million in 2024. The market is estimated to record a CAGR of 11.59% from 2025 to 2031.
The cancer therapeutics market in South and Central America is witnessing steady growth with increasing prevalence of cancer, the expansion of healthcare infrastructure, and augmented government programs for cancer treatment. Progress in targeted therapies, immunotherapies, and personalized medicine are improving the outcomes of the treatments in the region. Market growth is driven by Brazil and Argentina due to higher healthcare spending and accessibility of advanced treatments. Companies are focusing on strategic initiatives such as partnerships, clinical trials, and product launches to increase their regional footprint. With the market continuing to attract investment and create awareness, the market is likely to witness moderate but consistent growth over the next few years, with rich opportunities for innovation and market penetration.
Key segments that contributed to the derivation of the cancer therapeutics market analysis are therapy type, indication, and distribution channel.
The South and Central America cancer therapeutics market is growing, with Brazil and Argentina becoming the contributors of market growth. In May 2022, In Brazil, pharmaceutical group Eurofarma has signed an agreement with Shanghai Henlius Biotech to manufacture biosimilars, thus making more cancer therapies available in South and Central America. The Brazilian government has also funded a CAR T-cell treatment trial for blood cancers undertaken by the University of São Paulo and the Butantan Institute. In Argentina, Hugo Sigman's Grupo Insud is a major biotechnology company, with its mAbxience subsidiary developing biosimilars for oncology. The Argentine government has been spearheading cancer research through initiatives like the National Cancer Institute with an aim to improve the delivery of treatment and promote public-private partnerships. The efforts indicate the dynamic and evolving market of cancer therapeutics in Argentina.
Based on region, the South and Central America cancer therapeutics market is further segmented into Mexico, Brazil, Argentina, Peru, Chile, Colombia. The Brazil held the largest share in 2024.
The market of cancer therapeutics in South and Central America is growing, driven by increasing incidence of cancer and development of treatment modalities. The major players are also driving the growth with their strategic moves. PharmaMar, a Spanish pharmaceutical firm, has received permission to submit a marketing authorization application to the European Medicines Agency for lurbinectedin (Zepzelca) + atezolizumab (Tecentriq) as a first-line maintenance therapy for small cell lung cancer that is advanced. Moreover, in May 2025, PharmaMar and its collaborative company, Adium Pharma S.A, through its subsidiary Raffo in Argentina, have obtained the marketing authorization for Zepzelca (lurbinectedin) from Argentina's National Administration of Drugs, Foods and Medical Devices (ANMAT) for adult patients with metastatic small cell lung cancer (SCLC) who have progressed on or after platinum-based chemotherapy. Brazilian-based Eurofarma, a multinational organization, continues to be a market leader, distributing a wide range of pharmaceuticals, including oncology therapeutics, and growing its reach across South and Central America. Such drivers are indicative of an evolving and dynamic cancer therapeutics market in South and Central America.
Astellas Pharma Inc; Eli Lilly and Co; Novartis AG; Merck KGaA.; Johnson & Johnson; AstraZeneca; Pfizer Inc; Bristol Myers Squibb; F. Hoffmann-La Roche Ltd; and AbbVie are among the key players operating in the market. These companies are engaged in collaborative drug development to bring novel therapeutics for cancer in the market, aiming to stay ahead on competitive edge.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.
Business Market Insights conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include: