According to Nova one advisor, during the forecast period of 2022 to 2030, the global Horseradish Peroxidase market is estimated to develop at a compound annual growth rate (CAGR) of 7.9%.
According to Nova one advisor, during the forecast period of 2022 to 2030, the global Horseradish Peroxidase market is estimated to develop at a compound annual growth rate (CAGR) of 7.9%. The global Horseradish Peroxidase market size was valued at USD 65 Million in 2021, and it is predicted to exceed USD 110 Million by 2030. The study investigates several elements and their consequences on the growth of the Horseradish Peroxidase market.
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Horseradish peroxidase (HRP) is a well-known and commercially available enzyme. Its substrates are used in immunostaining and immunodetection of specific proteins and antigens. HRP is a widely used label, often conjugated to secondary antibodies in immunochemical applications such as immunohistochemistry, western blotting, and ELISA. North America dominated the global horseradish peroxidase market in 2020. The trend is anticipated to continue during the forecast period. Rise in research & development activities in the healthcare industry increases the demand for horseradish peroxidase. This is expected to drive the market in the region.
Report Scope of the Horseradish Peroxidase Market
| Report Coverage | Details |
| Market Size | US$ 110 Million by 2030 |
| Growth Rate | CAGR of 7.9% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
ELISA Substrate Selection Determines End Results in Assay Systems
Manufacturers in the horseradish peroxidase market are gaining proficiency to develop enzymes with a range of sensitivities that play an instrumental role in different detection methods. They are increasing awareness about careful selection of ELISA substrates in order to obtain best results in assay systems. As such, ELISA substrates differ in price, ease-of-use, and sensitivity. Hence, researchers must opt for a variety of procedures to bring ELISA substrates in the working condition. The preparation of substrates plays a key role in detecting signals in assay systems. However, companies in the horseradish peroxidase market are increasing efforts to boost the availability of substrates that are in ready-to-use forms.
There is a growing awareness about various optimization methods for ELISA substrates, which help to deliver better results in assay systems. Manufacturers are increasing their production capabilities to develop chromogenic substrates for ELISA, which are used in combination with horseradish peroxidase enzyme (HRP).
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Strategic Acquisitions Help Leverage Opportunities in Sample Preparation Technologies
The horseradish peroxidase market is predicted to surpass the value of US$ 110 Mn by 2030. This is an important revelation, since companies are securing stakes of other companies even amidst the ongoing coronavirus pandemic. For instance, in March 2020, Thermo Fisher Scientific- a U.S. provisioner of reagents, consumables, and scientific instrumentation, announced the acquisition of QIAGEN— a provider of sample and assay technologies for molecular diagnostics to explore opportunities in sample preparation technologies.
In order to achieve increased sensitivity, the technique of chemifluorescence is being used for ELISA reactions. Thus, companies in the horseradish peroxidase market are becoming increasingly aware about this technique and has helped to increase the magnitude of sensitivity in ELISA reactions. They are using photomultiplier tubes with fluorescence detection in order to achieve stability in reactions.
Surge in Usage of Enzymes as Biocatalysts to Drive Horseradish Peroxidase Market
Horseradish peroxidase (HRP) has the ability to catalyze the transfer of two electrons from a substrate to hydrogen peroxide to generate water and an oxidized substrate. Furthermore, HRP-catalyzed reactions of biocatalytical interest include oxidative dehydrogenation, sulfoxidation, and nitrogen oxidation. Hence, biocatalysts such as horseradish peroxidase are utilized in the production of pharmaceuticals and other fine chemicals, which, in turn, fuel the demand for horseradish peroxidase.
TMB (3,3', 5,5”-tetramethylbenzidine) Segment to Dominate Global Market
In terms of substrate, the global horseradish peroxidase market has been classified into ABTS (2,2'-Azinobis [3- ethylbenzothiazoline-6-sulfonic acid]-diammonium salt), OPD (ophenylenediaminedihydrochloride), TMB (3,3',5,5'-tetramethylbenzidine), and others. TMB (3,3', 5,5”-tetramethylbenzidine) is highly sensitive and is often produced to detect signal quickly in ELISA, which helps to identify components such as proteins in the sample quickly. Moreover, it oxidizes rapidly compared to other substrates, resulting in faster color development. This drives the demand for the substrate.
Grade I to be Highly Attractive
Based on grade, the global horseradish peroxidase market has been categorized into grade I, grade II, and grade III. The grade I segment held a major share of the global market in 2020, as biopharmaceutical companies prefer to use high efficiency and good stability grade to conduct research.
Biopharmaceutical Companies to be Highly Lucrative
In terms of end user, the global horseradish peroxidase market has been divided into biopharmaceutical companies, academic & research institutes, and others. Research with horseradish peroxidase is increasing in the biopharmaceutical industry. In combination with a plant hormone, HRP can be utilized in specific enzyme-prodrug therapies. Moreover, rise in research & development activities of biopharmaceutical companies is likely to drive the demand for horseradish peroxidase in the biopharmaceutical companies segment.
North America to Dominate Horseradish Peroxidase Market
In terms of region, the global horseradish peroxidase market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global horseradish peroxidase market in 2020, followed by Europe. North America accounted for a major share of the global horseradish peroxidase market in 2020, primarily due to significant ongoing research & development activities of biopharmaceutical companies, increase in clinical R&D budget to develop new diagnostic tests, and expansion of laboratory test portfolio can be attributed to the region’s dominance.
Some of the prominent players in the Horseradish Peroxidase market include:
- Abcamplc
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories
- Merck KGaA,
- BBI Solutions
- Takara Bio Company
- Promega Corporation
- Faizyme Laboratories
- F. Hoffmann-La Roche Ltd.
- TOYOBO Co., Ltd.
- Oriental Yeast Co., Ltd.
- GenScript
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
Global Horseradish Peroxidase Market: Segmentation
- Horseradish Peroxidase Market, by Substrate
- ABTS (2,2'-Azinobis [3- ethylbenzothiazoline-6-sulfonic acid]-diammonium salt)
- OPD (ophenylenediaminedihydrochloride)
- TMB (3,3',5,5'-tetramethylbenzidine)
- Others
- Horseradish Peroxidase Market, by Grade
- Grade I
- Grade II
- Grade III
- Horseradish Peroxidase Market, by Application
- Immunoassays
- ELISA
- Blot Test
- Others
- Biosensors
- Immunoassays
- Horseradish Peroxidase Market, by End User
- Biopharmaceutical Companies
- Academic & Research Institutes
- Others
Regional Segmentation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
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Key Questions Answered in Horseradish Peroxidase Market Report
What will be the sales/revenue generated by Horseradish Peroxidase across all regions during the forecast period?
What are the opportunities in the global Horseradish Peroxidase market?
What are the major drivers, restraints, opportunities, and threats in the market?
Which regional market is set to expand at the fastest CAGR during the forecast period?
Which application is expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
What is the market position of different companies operating in the global market?
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