The global catenin beta market is anticipated to grow at a considerable CAGR of 5% during the forecast year. Catenin beta is a protein encoded with the CTNNB1 gene in humans. It is also called beta-catenin 1 and is a dual function protein that is involved in the regulation and coordination of cells, gene transcription, and cell adhesion. The major factor leveraging the growth of the market is the rising prevalence of cancer across the globe. According to a report published by World Health Organization (WHO) in February 2022, cancer is the major cause of deaths globally with a mortality rate of around 10 million people in 2020. The number of cancer patients is expected to rise to 29.5 million with a mortality rate of around 16.4 million by 2040. Moreover, it actively contributes to the progression of tumors of several cancers such as colon cancer, pancreatic cancer, lung cancer, ovarian cancer, and hepatocellular carcinoma. Hence to prevent cancer patients and increase cancer cases catenin beta with its various medicinal benefits is contributing to the market growth. The factor that is hampering the market growth is when a person intakes defective beta-catenin its leads a person to depression.

Impact of COVID-19 on Global Catenin Beta Market

COVID-19 not only brings tremendous pressure to the medical system but it has also brought new challenges for the global economy. It has impacted catenin beta market due to the impact on various diagnosis, treatments, and research and development all were focused on working for COVID-19 the catenin beta demand was less than the revenue of the catenin beta market also laid down. The catenin beta market in the COVID-19 pandemic due to its application in several medicinal departments including dermatology, oncology, and genetic disorder for the treatment of various diseases and also in research and development of various drugs.

Segmental Outlook

The global catenin beta market is segmented into type and application. Based on type, the market is sub-segmented into BBI-801, exisulind, M-101, and nefopam HCL. Based on application, the market is sub-segmented into dermatology, oncology, and genetic disorders. Among the application segment, the Oncology segment is dominating in the global catenin beta market owing to its use in major oncology procedures also it is overexpressed and constitutively activated in human cancer and contributes to cancer initiation, progression, metastasis, drug resistance, and immune evasion of various cancers.

Global Catenin Beta Market by Type, 2021(%)

The Nefopam (HCL) Segment is anticipated to Hold a Major Share in the Global Catenin Beta market.

The nefopam HCl sub-segment of type segment of catenin beta is expected to hold a major share in the global catenin beta market as it has various benefits associated with it. Moreover, rising surgery procedures in the hospitals are increasing the demand for nefopam HCL for the treatment of pain. This is a non-opioid analgesic drug that can be used as a painkiller for moderate to severe pain. It also provides relief from moderate to severe pain caused due to several reasons including pain after the surgery, injury, dental pain, joint pain, and many others. Thus, driving the growth of the nefopam HCL type segment among the global catenin beta market. 

Regional Outlooks

The global catenin beta market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia Pacific), and the Rest of the World (the Middle East & Africa, and Latin America). The North American region is expected to hold the major share in the global catenin beta market due to the presence of several key players.

Global Catenin Beta Market Growth by Region, 2022-2028 

The Asia Pacific Region is expected to Fastest growing in the Global Catenin Beta Market 

The Asia Pacific region in the global catenin beta market is anticipated to grow fastest-growing during the forecast year, due to the prevalence of cancer in the various countries in the region such as India, China, Japan and among others. In 2020, As per the report published by National Cancer Registry Programme, in India, there around 1,392,179 estimated patients with cancer in the year 2020. The common cancer cases in India include mouth cancer, cervix cancer, lung cancer, tongue cancer, and breast cancer. The report also stated that the trends of cancer cases that show an increase in cancer patients in both males and females. Thus, the increase in cancer patients in the region is increasing the demand of the application of catenin beta that in turn is expected to increase the use of beta-catenin in medicinal procedures the is factor that is contributing in the Asia Pacific market fastest growth. 

Market Players Outlook

The major companies serving the global Catenin Beta market include AstraZeneca, GlaxoSmithKline plc., Merck Group, Novartis International AG, Sumitomo Dainippon Pharma Oncology, Inc.,  and many others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, fundings, and new product launches. For instance, in November 2021, Eisai and PRISM BioLab has collaborated has received the proof of concept CREB-binding protein (CBP) / ?-catenin inhibitor E7386. It will suppress tumor growth dependent on the Wnt signaling. 1 E7386 is also expected to release the suppression of tumor-infiltrating T cells by the Wnt signaling activation.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global catenin beta market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market