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Home ➤ Life Science ➤ Biotechnology ➤ Latin America Monoclonal Antibodies For Cancer Market
Latin America Monoclonal Antibodies For Cancer Market
Latin America Monoclonal Antibodies For Cancer Market
Published date: April 2025 • Formats:
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  • Home ➤ Life Science ➤ Biotechnology ➤ Latin America Monoclonal Antibodies For Cancer Market

Latin America Monoclonal Antibodies For Cancer Market Product Type (Bevacizumab, Cetumaximab, Ipilimumab, Nivolumab, Pembrolizumab, Pertuzumab, Rituximab, Trastuzumab Trastuzumab and Emtansine), Cancer Type (Breast Cancer, Colorectal Cancer, Lung Cancer, Ovarian Cancer, Blood Cancer, Melanoma, Liver Cancer and Others), Source (Humanized mAb, Human mAb and Chimeric mAb), End-User (Hospitals, Research Institutes and Others), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2025-2034

  • Published date: April 2025
  • Report ID: 145515
  • Number of Pages: 227
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
  • Request a Free Sample
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    • Report Overview
    • Key Takeaways
    • Product Type Analysis
    • Cancer Type Analysis
    • Source Analysis
    • End-User Analysis
    • Key Market Segments
    • Drivers
    • Restrains
    • Opportunities
    • Impact of Macroeconomic / Geopolitical Factors
    • Latest Trends
    • Country Analysis
    • Key Countries
    • Key Players Analysis
    • Recent Developments
    • Report Scope

    Report Overview

    The Latin America Monoclonal Antibodies For Cancer Market size is expected to be worth around US$ 16.6 Billion by 2034 from US$ 5.8 Billion in 2024, growing at a CAGR of 11.1% during the forecast period from 2025 to 2034.

    Latin America Monoclonal Antibodies for Cancer Market, Global Analysis, 2020-2024 (US$ Billion)

    Latin America 2020 2021 2022 2023 2024 CAGR
    Revenue 5.1 5.0 5.1 5.4 5.8 11.1%

    The monoclonal antibodies (mAbs) industry in Latin America is experiencing significant growth, driven by increased investments in cancer research, biotechnology advancements, and a shift toward personalized medicine. Governments in Brazil, Mexico, and Argentina are prioritizing cancer treatment within their public health initiatives, fueling demand for innovative therapies like mAbs, which offer targeted approaches to cancer care and are gaining prominence in the region’s healthcare landscape.

    Latin America Monoclonal Antibodies For Cancer Market Size

    Brazil and Mexico are emerging as key biopharmaceutical hubs, attracting both international pharmaceutical companies and local manufacturers through strategic collaborations aimed at expanding the production of original mAbs and biosimilars. Biosimilars play a crucial role in Latin America, providing cost-effective alternatives to high-priced biologics and improving treatment accessibility. Argentina’s mAbxience and Brazil’s Biomm are leading biosimilar manufacturers, helping to expand the market and enhance affordability.

    Despite challenges such as high costs, regulatory complexities, and disparities in healthcare access, the industry is witnessing growing partnerships between global pharmaceutical firms and local producers. Investment in biotechnology research centers and cancer treatment infrastructure is expanding, particularly in Brazil and Mexico, reinforcing their position as regional leaders in biopharmaceutical innovation.

    • In June 2024, Sinovac announced a US$ 100 Billion investment in Brazil to advance cell therapy, vaccine production, and monoclonal antibody development. Additionally, Sinovac and Fiocruz have expressed their commitment to joint R&D efforts focused on tackling health crises through vaccine innovations and cutting-edge biopharmaceutical solutions.

    Key Takeaways

    • The Latin America monoclonal antibodies for cancer market generated a revenue of US$ 5.8 Billion and is predicted to reach US$ 16.6 Billion, with a CAGR of 11.1%.
    • Based on the product type, the Pembrolizumab generated the most revenue for the market with a market share of 20.5%.
    • Based on the cancer type, the breast cancer segment generated the most revenue for the market with a market share of 23.4%.
    • Based on the source, the humanized mAb segment generated the most revenue for the market with a market share of 62.6%.
    • Based on the end-user, the hospitals segment generated the most revenue for the market with a market share of 70.9%.
    • Country-wise, Brazil remained the lead contributor to the market, by claiming the highest market share, amounting to 37.0%.

    Product Type Analysis

    Pembrolizumab recorded the highest compound annual growth rate (CAGR) in the Latin America monoclonal antibodies for cancer market in 2024. Its significant market share is largely driven by the growing number of clinical trials and research initiatives focused on immunotherapy in the region.

    Latin America has witnessed an increase in oncology research, particularly evaluating Pembrolizumab in combination therapies and its application in earlier cancer stages. These studies have yielded promising clinical data, reinforcing the drug’s strong position in cancer treatment.

    Additionally, multinational pharmaceutical companies conducting clinical research in Brazil and Argentina have played a pivotal role in accelerating Pembrolizumab’s adoption. Governments in the region are collaborating with these companies to expedite the availability of advanced cancer therapies.

    • For instance, in 2020, Argentina’s National Administration of Drugs, Food, and Medical Technology (ANMAT) approved Pembrolizumab for metastatic NSCLC, based on successful local and global clinical trials. Similarly, COFEPRIS in Mexico has fast-tracked approvals for Pembrolizumab, highlighting the region’s commitment to expanding access to innovative cancer treatments.

    Latin America Monoclonal Antibodies for Cancer Market, Product Type Analysis, 2020-2024 (US$ Billion)

    Product Type 2020 2021 2022 2023 2024
    Bevacizumab 0.28 0.29 0.26 0.25 0.24
    Cetumaximab 0.01 0.01 0.01 0.01 0.01
    Ipilimumab 0.11 0.15 0.17 0.17 0.18
    Nivolumab 0.61 0.66 0.69 0.74 0.80
    Pembrolizumab 0.58 0.69 0.84 1.00 1.20
    Pertuzumab 0.20 0.19 0.19 0.20 0.21
    Rituximab 0.40 0.28 0.22 0.19 0.17
    Trastuzumab 0.44 0.33 0.25 0.21 0.19
    Trastuzumab Emtansine 0.09 0.10 0.10 0.10 0.11
    Other Product Types 2.35 2.34 2.37 2.51 2.71

    Cancer Type Analysis

    Breast cancer held the largest share in the cancer type segment of the Latin America monoclonal antibodies for cancer market, primarily due to the high prevalence of the disease and the effectiveness of monoclonal antibody treatments, particularly for HER2-positive breast cancer.

    Monoclonal antibodies such as trastuzumab and trastuzumab emtansine (T-DM1) specifically target HER2 receptors, which are overexpressed in a substantial subset of breast cancer patients. These therapies have transformed breast cancer treatment, significantly improving overall survival rates and reducing recurrence risks.

    According to the Pan American Health Organization (PAHO), breast cancer is the leading cause of cancer-related death among women in Latin America. The growing incidence of the disease, along with increased awareness and improved access to targeted therapies, has fueled the demand for monoclonal antibodies in breast cancer treatment.

    • For instance, in Brazil, approximately 73,610 new breast cancer cases are projected annually from 2023 to 2025, with an adjusted incidence rate of 41.89 cases per 100,000 women. Similarly, Mexico and Argentina are witnessing a rising burden of breast cancer, prompting governments and healthcare institutions to expand treatment options and enhance access to monoclonal antibody-based therapies.

    Additionally, advancements in biosimilar monoclonal antibodies are improving affordability, allowing more patients in Latin America to benefit from cutting-edge breast cancer treatments. This continued emphasis on targeted therapies is expected to further strengthen the dominance of breast cancer treatments in the monoclonal antibody market in the region.

    Latin America Monoclonal Antibodies for Cancer Market, Cancer Type Analysis, 2020-2024 (US$ Billion)

    Cancer Type 2020 2021 2022 2023 2024
    Bevacizumab 1.15 1.15 1.17 1.25 1.36
    Cetumaximab 0.82 0.81 0.81 0.85 0.92
    Ipilimumab 0.89 0.89 0.91 0.96 1.05
    Nivolumab 0.26 0.26 0.26 0.27 0.29
    Pembrolizumab 0.50 0.50 0.51 0.54 0.58
    Pertuzumab 0.61 0.61 0.62 0.65 0.71
    Rituximab 0.42 0.41 0.42 0.44 0.47
    Trastuzumab 0.42 0.41 0.41 0.42 0.45

    Source Analysis

    Humanized monoclonal antibodies (mAbs) dominated the Latin America monoclonal antibodies for cancer market, primarily due to their enhanced specificity and reduced immunogenicity compared to murine or chimeric antibodies. Designed to closely resemble human antibodies, humanized mAbs, such as pembrolizumab and trastuzumab, offer superior cancer-targeting capabilities while minimizing adverse immune reactions, making them ideal for long-term treatments.

    The widespread adoption of humanized mAbs in Latin America is driven by the rising prevalence of cancers, including breast cancer, lung cancer, and melanoma, all of which respond well to targeted therapies. Trastuzumab, widely used for HER2-positive breast cancer, has demonstrated significant clinical success in improving survival rates and reducing recurrence risks.

    According to the World Health Organization (WHO) and Global Cancer Observatory (GCO), breast cancer is the most common cancer among women in Latin America, further underscoring the importance of treatments like trastuzumab in the region.

    To meet this growing demand, pharmaceutical companies are ramping up investments in the development and production of humanized mAbs, enhancing treatment accessibility and expanding market growth. The increasing availability of these advanced therapeutics is expected to further drive the Latin American monoclonal antibody market, solidifying humanized mAbs as the leading segment in cancer treatment across the region.

    Latin America Monoclonal Antibodies for Cancer Market, Source Analysis, 2020-2024 (US$ Billion)

    Source 2020 2021 2022 2023 2024
    Humanized mAb 2.95 2.97 3.07 3.30 3.65
    Human mAb 1.35 1.53 1.59 1.71 1.83
    Chimeric mAb 0.76 0.54 0.43 0.38 0.35

    End-User Analysis

    The hospital segment leads the Latin America monoclonal antibodies (mAbs) for cancer market, driven by the high prevalence of complex cancer cases that require specialized care and advanced treatment facilities. Hospitals serve as the primary healthcare institutions for administering mAb therapies, particularly for advanced-stage cancers such as breast, colorectal, and lung cancer.

    The demand for state-of-the-art medical infrastructure, trained professionals, and continuous monitoring for therapies like rituximab, trastuzumab, and pembrolizumab further solidifies hospitals as the dominant segment in this market.

    According to the Global Cancer Observatory (GCO) and the Pan American Health Organization (PAHO), the rising incidence of cancer across Latin America has led to increased hospital admissions and treatments. Hospitals are equipped with the necessary resources for administering intravenous mAb therapies, which often require long-term administration and close monitoring to manage potential adverse effects.

    • Government initiatives in Brazil, Argentina, and Mexico are also improving access to cancer treatments by expanding public and private hospital networks and investing in healthcare digitalization. For instance, Brazil’s Ministry of Health announced a $200 Million investment in 2023 to digitalize the public healthcare system (SUS), with further investments expected in the coming years, enhancing mAb accessibility and hospital-based cancer care across the region.

    Latin America Monoclonal Antibodies for Cancer Market, End-User Analysis, 2020-2024 (US$ Billion)

    End-User 2020 2021 2022 2023 2024
    Hospitals 3.63 3.60 3.63 3.83 4.13
    Research Institutes 0.55 0.55 0.55 0.59 0.64
    Others 0.89 0.89 0.91 0.97 1.06

    Latin America Monoclonal Antibodies For Cancer Market Share

    Key Market Segments

    By Product Type

    • Bevacizumab
    • Cetumaximab
    • Ipilimumab
    • Nivolumab
    • Pembrolizumab
    • Pertuzumab
    • Rituximab
    • Trastuzumab
    • Trastuzumab Emtansine

    By Cancer Type

    • Breast Cancer
    • Colorectal Cancer
    • Lung Cancer
    • Ovarian Cancer
    • Blood Cancer
    • Melanoma
    • Liver Cancer
    • Others

    By Source

    • Humanized mAb
    • Human mAb
    • Chimeric mAb

    By End-User

    • Hospitals
    • Research Institutes
    • Others

    Drivers

    Rise in Cancer Cases     

    The rising incidence of cancer in Latin America is a major driver of growth in the monoclonal antibodies (mAbs) market for cancer treatments. Several factors contribute to the increasing cancer burden, including an aging population, lifestyle changes, and environmental influences.

    As life expectancy rises, more individuals reach ages where cancer risk is heightened. Additionally, unhealthy lifestyle habits, such as higher tobacco and alcohol consumption and poor diets, have contributed to the growing prevalence of cancers such as lung, liver, and colorectal cancer.

    Latin America also faces healthcare disparities, which hinder early detection and prevention efforts. According to the World Health Organization (WHO), limited screening programs and inadequate healthcare infrastructure often lead to late-stage cancer diagnoses, making treatment more challenging.

    The Pan American Health Organization (PAHO) reports that cancer is the second leading cause of death in the region, with 1.5 Million new cases annually, projected to reach 2.1 Million by 2030. In Brazil alone, more than 700,000 new cancer cases are diagnosed each year, with breast, lung, and colorectal cancers being the most common.

    FDA-approved monoclonal antibodies for lung cancer, such as bevacizumab (Avastin) and ramucirumab (Cyramza), work by blocking blood vessel formation that supports tumor growth. According to the World Cancer Research Fund International, there were 2,480,675 new lung cancer cases worldwide in 2022, with China leading at 1,060,584 cases, followed by the U.S. with 226,033 cases.

    With cancer cases continuing to rise, the demand for targeted therapies like mAbs is increasing, as these treatments offer greater precision and fewer side effects compared to traditional chemotherapy. This growing demand is expected to fuel further expansion of the mAbs market in Latin America.

    Restrains

    High Cost of Therapy

    The high cost of monoclonal antibody (mAb) therapies remains a significant challenge for the cancer treatment market in Latin America. While mAbs are highly effective and provide targeted treatment, their steep prices make them inaccessible to a large portion of the population. The cost per treatment cycle can range from thousands to tens of thousands of dollars, placing a heavy financial strain on both patients and healthcare systems, particularly in low- and middle-income countries.

    Although government-funded healthcare programs, such as Brazil’s Sistema Único de Saúde (SUS), include mAbs in their public coverage, budget constraints limit their widespread accessibility. For instance, widely used drugs like trastuzumab and bevacizumab, which are essential for breast and colorectal cancer treatment, cost between US$50 to US$200 per defined daily dose (DDD), depending on the country. While Brazil and Mexico offer some of the lowest pricing in the region, affordability remains a major concern when compared to average income levels and healthcare funding.

    In many Latin American countries, patients need to work more than 20 days at minimum wage just to afford a single DDD of certain therapies, such as rituximab, underscoring the significant financial burden associated with mAb treatments. Biosimilars offer a cost-effective alternative, but their adoption has been slow due to regulatory challenges and infrastructure limitations. As a result, high treatment costs continue to be a major barrier to mAb accessibility and adoption across the region..

    Opportunities

    Increasing Development and Approval of Biosimilar

    The growth of biosimilars presents a significant opportunity for the expansion of the monoclonal antibodies (mAbs) market for cancer treatment in Latin America. As patents on major mAbs like trastuzumab and rituximab expire, the region is witnessing an increase in the development and approval of biosimilar versions, which provide the same therapeutic efficacy as original mAbs but at significantly lower costs.

    This is particularly critical for Latin American healthcare systems, which are often constrained by limited budgets and face challenges in providing widespread access to high-cost cancer treatments. In Brazil, for example, the approval of biosimilars like Trastuzumab-dkst and Rituximab-abbs has already begun to make cancer treatment more accessible.

    Countries such as Argentina and Brazil are leading the charge in biosimilar production, with local companies such as mAbxience and Biosidus contributing to the creation of affordable alternatives. These biosimilars are helping reduce the financial burden on both healthcare systems and patients, improving access to life-saving therapies across the region. As more biosimilars gain regulatory approval, competition is expected to increase, further driving down prices and expanding the availability of cancer treatments.

    The rise of biosimilars represents a critical growth opportunity in the Latin America mAbs market, as it addresses both the cost and accessibility barriers that have traditionally limited the use of advanced cancer therapies.

    Impact of Macroeconomic / Geopolitical Factors

    The Latin American monoclonal antibodies (mAbs) for cancer market is significantly influenced by macroeconomic and geopolitical factors. Economic instability, currency fluctuations, and inflation in countries like Argentina and Venezuela have made imported cancer therapies costly, limiting patient access. Additionally, budget constraints in public healthcare systems restrict the widespread adoption of mAbs, despite government efforts to expand cancer treatment programs.

    Geopolitical factors, such as trade policies and international relations, also impact the market. U.S. and European pharmaceutical companies dominate mAb production, and trade restrictions or supply chain disruptions can lead to drug shortages and higher prices. Furthermore, political instability in countries like Peru and Brazil affects healthcare investments and regulatory approvals, slowing the introduction of new mAb therapies.

    Latest Trends

    The Latin America monoclonal antibodies (mAbs) for cancer market is evolving with several key trends shaping its growth. One of the most significant trends is the rising adoption of biosimilars, which offer cost-effective alternatives to expensive branded mAbs. Countries like Brazil, Mexico, and Argentina are seeing increased local production of biosimilars, helping to improve affordability and access.

    Another trend is the expansion of public healthcare coverage for mAb treatments. Governments are integrating mAbs into national cancer treatment programs, as seen with Brazil’s Sistema Único de Saúde (SUS). Additionally, foreign investments in biopharmaceutical manufacturing are increasing, with companies like Sinovac investing $100 Million in Brazil to enhance local production.

    Moreover, advancements in personalized medicine are driving the development of targeted therapies, improving treatment efficacy while reducing side effects. As research in immunotherapy expands, combination treatments using mAbs with other cancer therapies are becoming more prevalent, further boosting market growth.

    Country Analysis

    Brazil Leads the Latin America Monoclonal Antibodies (mAbs) for Cancer Market

    Brazil dominated the Latin American mAbs for cancer market, accounting for over 37.0% of the region’s healthcare expenditure. The country boasts the largest healthcare market in Latin America, supported by a well-established healthcare infrastructure and a strong public healthcare system (Sistema Único de Saúde – SUS). These factors facilitate wider access to advanced cancer treatments, including monoclonal antibodies.

    • With over 625,000 new cancer cases annually, Brazil faces a significant disease burden, driving demand for innovative therapies. According to the Ministry of Health, between 2012 and 2022, 21,000 cases were reported. Additionally, it is estimated that 23.8% of men and 18.3% of women in Brazil will develop cancer before turning 75 years old.

    The Brazilian government actively supports the development and accessibility of biopharmaceuticals. ANVISA (Agência Nacional de Vigilância Sanitária) has streamlined regulatory approvals for biosimilars and mAbs, accelerating their market entry. Moreover, government programs like the National Policy for Cancer Prevention and Control emphasize early diagnosis and improved access to treatments, further strengthening the country’s mAbs market for cancer care.

    Latin America Monoclonal Antibodies for Cancer Market, Country Analysis, 2020-2024 (US$ Billion)

    Country 2020 2021 2022 2023 2024
    Brazil 1.87 1.87 1.90 1.99 2.16
    Mexico 1.12 1.16 1.16 1.24 1.35
    Argentina 0.73 0.72 0.74 0.80 0.87

    Key Countries

    • Brazil
    • Mexico
    • Argentina
    • Chile
    • Columbia
    • Rest of Latin America

    Key Players Analysis

    The competitive landscape of the Latin America monoclonal antibodies (mAbs) market for cancer is shaped by the presence of multinational pharmaceutical companies, local drug manufacturers, and an emerging biosimilar market.

    Major players such as Roche, Bristol-Myers Squibb, and Merck dominate the market, offering a wide range of innovative mAbs used in cancer treatments. These companies benefit from their strong research and development capabilities and established brand presence, particularly in larger markets like Brazil, Mexico, and Argentina.

    However, local pharmaceutical firms in Argentina and Brazil are gaining traction, particularly in the production of biosimilars, which provide more affordable alternatives to original mAb therapies. Companies such as Biosidus in Argentina are leading the way in developing biosimilar versions of monoclonal antibodies, aiming to reduce the cost of cancer treatments and expand access.

    Top Key Players

    • Hoffmann-La Roche Ltd.
    • Bristol-Myers Squibb Company
    • Merck & Co.
    • GSK plc.
    • Johnson & Johnson
    • Novartis AG
    • AstraZeneca plc
    • Eli Lilly and Company
    • AbbVie Inc.
    • Amgen, Inc.

    Recent Developments

    • In July 2024, mAbxience, a developer and manufacturer of biopharmaceutical products, and part of the Fresenius Kabi and Insud Pharma groups, has entered an agreement with Biosidus, an Argentine company specialized in biotechnology, focused in the area of CDMO (Contract Development and Manufacturing Organization). Under the agreement, mAbxience will be responsible for the manufacture of the active ingredient Agalsidase Beta, developed by Biosidus as a biosimilar of Fabrazyme.
    • In September 2024, MacroGenics, Inc. a biopharmaceutical company focused on developing, manufacturing and commercializing innovative antibody-based therapeutics for the treatment of cancer, announced that its partner, Gilead Sciences, Inc., nominated the first of two research programs, leveraging MacroGenics’ DART® and TRIDENT® platforms for generating bispecific antibodies. This nomination grants Gilead an exclusive option, upon achievement of a pre-defined preclinical milestone, to license worldwide rights to the research program.

    Report Scope

    Report Features Description
    Market Value (2024) US$ 5.8  Billion
    Forecast Revenue (2034) US$ 16.6 Billion
    CAGR (2025-2034) 11.1%
    Base Year for Estimation 2024
    Historic Period 2019-2023
    Forecast Period 2025-2034
    Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
    Segments Covered Product Type- Bevacizumab, Cetumaximab, Ipilimumab, Nivolumab, Pembrolizumab, Pertuzumab, Rituximab, Trastuzumab Trastuzumab and Emtansine, Cancer Type-Breast Cancer, Colorectal Cancer, Lung Cancer, Ovarian Cancer, Blood Cancer, Melanoma, Liver Cancer and Others, Source- Humanized mAb, Human mAb and Chimeric mAb, End-User- Hospitals, Research Institutes and Others.
    Competitive Landscape F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company , Merck & Co., GSK plc. , Johnson & Johnson, Novartis AG, AstraZeneca plc, Eli Lilly and Company, AbbVie Inc. and Amgen, Inc.
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)
    Latin America Monoclonal Antibodies For Cancer Market
    Latin America Monoclonal Antibodies For Cancer Market
    Published date: April 2025
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    • Hoffmann-La Roche Ltd.
    • Bristol-Myers Squibb Company
    • Merck & Co.
    • GSK plc.
    • Johnson & Johnson
    • Novartis AG Company Profile
    • AstraZeneca Plc Company Profile
    • Eli Lilly and Company
    • AbbVie Inc. Company Profile
    • Amgen, Inc.
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