Beta Catenin Market Analysis & Forecast 2032

Β-catenin is a multifunctional protein that is essential for preserving physiological homeostasis. A variety of illnesses, including cancer, are caused by its aberrantly high expression. The human equivalent of the drosophila armadillo gene is called β-catenin. It serves as an adapter protein for intracellular adhesion as well as a transcriptional co-regulator.

Global beta catenin market is estimated to be valued at US$ 2,492.0 million in 2022 and is expected to exhibit a CAGR of 9.6 % during the forecast period (2022-2030).

Figure 1.Global Beta Catenin Market Share (%) in Terms of Value, by Type, 2022

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Rise in the incidence of genetic disorders is expected to drive growth of the beta catenin market.

Rise in the incidence of genetic disorders is expected to drive growth of the beta catenin market. For instance, according to data published on May 2022, by Centers for Disease Control and Prevention (CDC), Sickle Cell Disease (SCD) affects approximately 100,000 Americans every year.

Figure 2. Global Beta Catenin Market Share (%), By Region, 2022

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Increase in approval of gene therapies drugs is expected to drive the market growth during the forecast period.

Increase in approval of gene therapies drugs is expected to drive the market growth during the forecast period. For instance, in May 2019, the U.S Food and Drug Administration (FDA) approved Zolgensma, for the treatment of pediatric patients less than two years of age with a specific type of spinal muscular atrophy (SMA) with bi-allelic mutations in the survival motor neuron 1 (SMN1) gene.

Global Beta Catenin Market– Impact of Coronavirus (COVID-19) Pandemic

COVID-19 has created significant difficulties for the world economy in addition to placing a great deal of strain on the medical system. COVID-19 has created significant difficulties for the world economy in addition to placing a significant amount of strain on the medical system. Due to the effect on different diagnoses, therapies, and research and development that were all focused on working for COVID-19, the catenin beta market was impacted. Catenin beta demand was lower than the catenin beta market's revenue, which also decreased. the COVID-19 pandemic due to the catenin beta market's use in a number of medical fields, such as dermatology, oncology, and genetic disorders for the treatment of various diseases as well as in the development of a number of medications.

Global Beta Catenin Market: Restraint

The major factors that are expected to hinder growth of the global beta catenin market include high cost involved in the treatment of cancer. For instance, according to data published on April 2022, by National Cancer Institutewhich is the federal government's principal agency for cancer research and training, states that  the average cost of medical care and drugs can cost up to US $42,000 in the year following a cancer diagnosis. Some treatments can exceed $1 million.

Key Players

Major players operating in the global beta catenin market include Boston Biomedical Inc, Dicerna Pharmaceuticals Inc., Marina Biotech Inc.,Propanac Biopharma Inc, Warp Drive Bio Inc.,prism pharma co ltd,aileron therapeutics inc, MD2 Biosciences Inc,WntRx Pharmaceuticals Inc, Sapience Therapeutics Inc, and Venn Therapeutics LLC.