The global Horseradish Peroxidase market gathered revenue around USD 65 Million in 2021 and market is set to grow USD 110 Million by the end of 2030 and is estimated to expand at a modest CAGR of 7.9% during the prediction period 2022 to 2030.
Growth Factors:
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
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Report Coverage |
Details |
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Market Size |
US$ 110 Million by 2030 |
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Growth Rate |
CAGR of 7.9% from 2022 to 2030 |
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Largest Market |
North America |
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Fastest Growing Market |
Asia Pacific |
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Base Year |
2021 |
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Forecast Period |
2022 to 2030 |
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Segments Covered |
Substrate, Grade, Application, End User and Region, |
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Companies Mentioned |
Abcam plc, 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., and GenScript.. |
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).
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 (ophenylenediamine dihydrochloride), 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:
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
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Horseradish Peroxidase Market Study:
Chapter 1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
Chapter 2. Assumptions and Research Methodology
Chapter 3. Executive Summary: Global Horseradish Peroxidase Market
Chapter 4. Market Overview
4.1. Introduction
4.1.1. Product Overview
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunity
Chapter 5. Key Insights
5.1. Pricing Analysis - Horseradish Peroxidase Market, by Region
5.2. Global Horseradish Peroxidase Market - Trends in the Market
5.3. Global Horseradish Peroxidase Market - Key Industry Development
5.4. COVID-19 Impact Analysis (demand for its uses in research, supply chain, etc.)
Chapter 6. Global Horseradish Peroxidase Market Analysis and Forecast, by Substrate Type
6.1. Key Findings / Developments
6.2. Introduction & Definition
6.3. Global Horseradish Peroxidase Market Value Forecast, by Substrate Type, 2018–2030
6.3.1. ABTS (2,2'-Azinobis [3- ethylbenzothiazoline-6-sulfonic acid]-diammonium salt)
6.3.2. OPD (ophenylenediamine dihydrochloride)
6.3.3. TMB (3,3',5,5'-tetramethylbenzidine)
6.3.4. Others
6.4. Global Horseradish Peroxidase Market Attractiveness Analysis, by Substrate Type
Chapter 7. Global Horseradish Peroxidase Market Analysis and Forecast, by Grade Type
7.1. Key Findings / Developments
7.2. Introduction & Definition
7.3. Global Horseradish Peroxidase Market Value Forecast, by Grade Type, 2018–2030
7.3.1. Grade I
7.3.2. Grade II
7.3.3. Grade III
7.4. Global Horseradish Peroxidase Market Attractiveness Analysis, by Grade Type
Chapter 8. Global Horseradish Peroxidase Market Analysis and Forecast, by Application
8.1. Key Findings / Developments
8.2. Introduction & Definition
8.3. Global Horseradish Peroxidase Market Value Forecast, by Application, 2018–2030
8.3.1. Immunoassays
8.3.1.1. ELISA
8.3.1.2. Blot Test
8.3.1.3. Others
8.3.2. Biosensors
8.4. Global Horseradish Peroxidase Market Attractiveness Analysis, by Application
Chapter 9. Global Horseradish Peroxidase Market Analysis and Forecast, by End-user
9.1. Key Findings / Developments
9.2. Introduction & Definition
9.3. Global Horseradish Peroxidase Market Value Forecast, by End-user, 2018–2030
9.3.1. Biopharmaceuticals Companies
9.3.2. Academic and Research Centers
9.3.3. Others
9.4. Global Horseradish Peroxidase Market Attractiveness Analysis, by End-user
Chapter 10. Global Horseradish Peroxidase Market Analysis and Forecast, by Geography/Region
10.1. Geographical Representation
10.2. Global Warts Therapeutics Market Value Forecast, by Region
10.2.1. North America
10.2.2. Europe
10.2.3. Asia Pacific
10.2.4. Latin America
10.2.5. Middle East & Africa
10.3. Global Horseradish Peroxidase Market Attractiveness Analysis, by Region
Chapter 11. North America Horseradish Peroxidase Market Analysis and Forecast
11.1. North America Horseradish Peroxidase Market Value Forecast, by Country , 2018–2030
11.1.1. U.S.
11.1.2. Canada
11.2. North America Horseradish Peroxidase Market Value Forecast, by Substrate, 2018–2030
11.3. North America Horseradish Peroxidase Market Value Forecast, by Grade, 2018–2030
11.4. North America Horseradish Peroxidase Market Forecast, Application, 2018–2030
11.5. North America Horseradish Peroxidase Market Value Forecast, by End-user, 2018–2030
11.6. North America Horseradish Peroxidase Market Attractiveness Analysis, 2020–2030
11.6.1. By Country
11.6.2. By Substrate
11.6.3. By Grade
11.6.4. By Application
11.6.5. By End-user
Chapter 12. Europe Horseradish Peroxidase Market Analysis and Forecast
12.1. Europe Horseradish Peroxidase Market Value Forecast, by Country/Sub-region, 2018–2030
12.1.1. Germany
12.1.2. France
12.1.3. U.K.
12.1.4. Spain
12.1.5. Italy
12.1.6. Rest of Europe
12.2. Europe Horseradish Peroxidase Market Value Forecast, by Substrate, 2018–2030
12.3. Europe Horseradish Peroxidase Market Value Forecast, by Grade, 2018–2030
12.4. Europe Horseradish Peroxidase Market Forecast, Application, 2018–2030
12.5. Europe Horseradish Peroxidase Market Value Forecast, by End-user, 2018–2030
12.6. Europe Horseradish Peroxidase Market Attractiveness Analysis, 2020–2030
12.6.1. By Country/Sub-region
12.6.2. By Substrate
12.6.3. By Grade
12.6.4. By Application
12.6.5. By End-user
Chapter 13. Asia Pacific Horseradish Peroxidase Market Analysis and Forecast
13.1. Asia Pacific Horseradish Peroxidase Market Value Forecast, by Country/Sub-region, 2018–2030
13.1.1. Japan
13.1.2. China
13.1.3. India
13.1.4. Australia & New Zealand
13.1.5. Rest of Asia Pacific
13.2. Asia Pacific Horseradish Peroxidase Market Value Forecast, by Substrate, 2018–2030
13.3. Asia Pacific Horseradish Peroxidase Market Value Forecast, by Grade, 2018–2030
13.4. Asia Pacific Horseradish Peroxidase Market Forecast, Application, 2018–2030
13.5. Asia Pacific Horseradish Peroxidase Market Value Forecast, by End-user, 2018–2030
13.6. Asia Pacific Horseradish Peroxidase Market Attractiveness Analysis, 2020–2030
13.6.1. By Country/Sub-region
13.6.2. By Substrate
13.6.3. By Grade
13.6.4. By Application
13.6.5. By End-user
Chapter 14. Latin America Horseradish Peroxidase Market Analysis and Forecast
14.1. Latin America Horseradish Peroxidase Market Value Forecast, by Country/Sub-region, 2018–2030
14.1.1. Brazil
14.1.2. Mexico
14.1.3. Rest of Latin America
14.2. Latin America Horseradish Peroxidase Market Value Forecast, by Substrate, 2018–2030
14.3. Latin America Horseradish Peroxidase Market Value Forecast, by Grade, 2018–2030
14.4. Latin America Horseradish Peroxidase Market Forecast, Application, 2018–2030
14.5. Latin America Horseradish Peroxidase Market Value Forecast, by End-user, 2018–2030
14.6. Latin America Horseradish Peroxidase Market Attractiveness Analysis, 2020–2030
14.6.1. By Country/Sub-region
14.6.2. By Substrate
14.6.3. By Grade
14.6.4. By Application
14.6.5. By End-user
Chapter 15. Middle East & Africa Horseradish Peroxidase Market Analysis and Forecast
15.1. Middle East & Africa Horseradish Peroxidase Market Value Forecast, by Country/Sub-region, 2018–2030
15.1.1. GCC Countries
15.1.2. South Africa
15.1.3. Rest of Middle East & Africa
15.2. Middle East & Africa Horseradish Peroxidase Market Value Forecast, by Substrate, 2018–2030
15.3. Middle East & Africa Horseradish Peroxidase Market Value Forecast, by Grade, 2018–2030
15.4. Middle East & Africa Horseradish Peroxidase Market Forecast, Application, 2018–2030
15.5. Middle East & Africa Horseradish Peroxidase Market Value Forecast, by End-user, 2018–2030
15.6. Middle East & Africa Horseradish Peroxidase Market Attractiveness Analysis, 2020–2030
15.6.1. By Country/Sub-region
15.6.2. By Substrate
15.6.3. By Grade
15.6.4. By Application
15.6.5. By End-user
Chapter 16. Competitive Landscape
16.1. Market Share Analysis, by Company, 2019
16.2. Company Profiles (Details - Overview, Financials, Recent Developments, Strategy)
16.2.1. Abcam, plc
16.2.1.1. Company Details
16.2.1.2. Company Description
16.2.1.3. Business Overview
16.2.1.4. SWOT Analysis
16.2.1.5. Financial Analysis
16.2.1.6. Strategic Overview
16.2.2. Thermo Fisher Scientific, Inc.
16.2.2.1. Company Details
16.2.2.2. Company Description
16.2.2.3. Business Overview
16.2.2.4. SWOT Analysis
16.2.2.5. Strategic Overview
16.2.3. Bio-Rad Laboratories, Inc.
16.2.3.1. Company Details
16.2.3.2. Company Description
16.2.3.3. Business Overview
16.2.3.4. SWOT Analysis
16.2.3.5. Strategic Overview
16.2.4. Merck KGaA
16.2.4.1. Company Details
16.2.4.2. Company Description
16.2.4.3. Business Overview
16.2.4.4. SWOT Analysis
16.2.4.5. Strategic Overview
16.2.5. BBI Solutions
16.2.5.1. Company Details
16.2.5.2. Company Description
16.2.5.3. Business Overview
16.2.5.4. SWOT Analysis
16.2.5.5. Financial Analysis
16.2.5.6. Strategic Overview
16.2.6. Takara Bio Company
16.2.6.1. Company Details
16.2.6.2. Company Description
16.2.6.3. Business Overview
16.2.6.4. SWOT Analysis
16.2.6.5. Financial Analysis
16.2.6.6. Strategic Overview
16.2.7. Promega Corporation
16.2.7.1. Company Details
16.2.7.2. Company Description
16.2.7.3. Business Overview
16.2.7.4. SWOT Analysis
16.2.7.5. Financial Analysis
16.2.7.6. Strategic Overview
16.2.8. Faizyme Laboratories
16.2.8.1. Company Details
16.2.8.2. Company Description
16.2.8.3. Business Overview
16.2.8.4. SWOT Analysis
16.2.8.5. Financial Analysis
16.2.8.6. Strategic Overview
16.2.9. F. Hoffmann-La Roche Ltd.
16.2.9.1. Company Details
16.2.9.2. Company Description
16.2.9.3. Business Overview
16.2.9.4. SWOT Analysis
16.2.9.5. Strategic Overview
16.2.10. TOYOBO CO., Ltd.
16.2.10.1. Company Details
16.2.10.2. Company Description
16.2.10.3. Business Overview
16.2.10.4. SWOT Analysis
16.2.10.5. Strategic Overview
16.2.11. Oriental Yeast Co., Ltd.
16.2.11.1. Company Details
16.2.11.2. Company Description
16.2.11.3. Business Overview
16.2.11.4. SWOT Analysis
16.2.11.5. Strategic Overview
16.2.12. GenScript
16.2.12.1. Company Details
16.2.12.2. Company Description
16.2.12.3. Business Overview
16.2.12.4. SWOT Analysis
16.2.12.5. Strategic Overview
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