HERG screening market size to reach US$ 2.9 Billion by 2026 at a CAGR of 13%
Noida, Uttar Pradesh, India, February 19 2021 (Wiredrelease) Report Ocean Pvt Ltd –:The growing novel drug approvals and the ever-increasing heart disease prevalence are the main driving factors for the global hERG screening market that expected to enhance the market size in the coming years. Moreover, hERG screening is primarily used for drug discovery practice. The rising number of product launches is projected to fuel the demand for hERG screening in the coming years. According to the Center for Drug Evaluation and Research (CDER) annual report, there an estimated 25 drugs received novel drug approved for marketing in 2016, whereas 59 in 2018. This continuous increasing number of novel drug approvals is expected to support the drug discovery process that helps the hERG screening market grow.
However, the high cost related to the hERG screening products is expected to hinder the market’s growth over the forecast period. Nevertheless, untapped markets are probable to set a lucrative opportunity for the hERG screening market’s growth throughout the forecast period. Following these promising developments, the Global hERG Screening Market is estimated to see healthy growth, pegged at a CAGR of around 13% throughout the forecast period 2020-2026.
North America is expected to create opportunities for manufacturers worldwide
North America is estimated to be held for over 36% market share in the global hERG screening market in 2019 and forecasted to continue its dominance worldwide due to technological development and the high cardiac disease prevalence in the domestic market. In Europe, the presence of developed countries such as the UK, Germany, France, and Italy, coupled with the increased focus of major players of these countries into new launches and acquisitions in the hERG screening market. Such factors will further increase the regional market share during the forecast period.
However, the Asia Pacific is expected to grow at the highest CAGR of 16.1% in the hERG screening market over the forecast period due to emerging economies such as China, India, and South Korea. Also, the growth in these countries is further attributed to the several cardiac disorders patient cases. The rising need for drug formulation and development to cure these disorders also lead to the growth of the region in the future.
The hERG (the human Ether-à-go-go-Related Gene) is a genetic factor (KCNH2) that codes for a protein recognized as Kv11.1, the alpha subunit a potassium ion channel. This ion channel (sometimes denoted as ‘hERG’) is best known for its influence on the heart’s electrical activity that coordinates the heart’s beating. Moreover, hERG screening in the growth stage of drug discovery and development, along with the robust growth in the pharmaceutical companies for hERG screening of lead compounds, and challenges in developing products useful for biotechnology and pharmaceutical applications. Such factors are expected to create opportunities in the global market in the coming years.
Segmentation Overview of the Global hERG Screening Market
The hERG screening market is segmented based on Type, Ion Channel, and Application. These major market segments are further categorized into various sub-segments to study the market in detail.
By Type Outlook (Gene KCNH2, Mutant KCNH2)
By Ion Channel Outlook (Voltage Gated, Ligand Gated)
By Application Outlook (Antiarrhythmic, Antipsychotic, Antibiotics, Others)
Key Players Insights
Charles River Laboratories, Eurofins Scientific, Merck KGaA, Cyprotex Limited, BSYS GmbH, Creative bioarray, Metrion biosciences, and Aurora Biomed, among others, are some significant players included in the research study of the global hERG screening market.
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