Horseradish Peroxidase Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Horseradish Peroxidase Market covers analysis By Product Type (Grade I, Grade II, Grade III); Application (Immunoassays, Biosensors); End-use (Biopharmaceutical Companies, Academic and Research Centers, Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Oct 2023

  • Report Code : TIPRE00029975
  • Category : Pharmaceuticals
  • Status : Upcoming
  • No. of Pages : 150
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Horseradish peroxidase (HRP) is an enzyme that catalyzes the conversion of chromogenic or chemiluminescent substrates for the detection of targets such as proteins, carbohydrates, and nucleic acids. It is also used to increase signal in photometric assays. Although HRP is easily conjugated to various molecules, it is commonly coupled with antibody, protein A, protein G, or avidin. In numerous popular techniques, such as western blotting, enzyme-linked immunosorbent assays (ELISAs), and microscopy, HRP conjugates are employed as reporters. Manufacturers of horseradish peroxidase are perfecting their techniques to produce enzymes with sensitivities that may be employed in various diagnostic procedures. Manufacturers are also focused on educating lab professionals on the importance of choosing ELISA substrates carefully for the best results in test systems, as a result, the price, usability, and sensitivity of ELISA substrates vary. Additionally, to prepare ELISA substrates for usage, researchers must go through various procedures such as assay methods, in this method signal detection depends on substrate preparation. Moreover, numerous ELISA substrate optimization techniques are becoming more understood widely used and may help test systems perform better. Manufacturers are ramping up the manufacturing of chromogenic substrates for ELISA tests, which are used in conjunction with horseradish peroxidase enzyme (HRP).

Armoracia rusticana roots are used to extract the HRP used in commercial products. However, the traditional production method is only desirable during certain seasons because of limited availability and lengthy cultivation times combined with low yields. Additionally, downstream processing is time-consuming, and the content of individual isoenzymes is frequently very low. As a result, a consistent enzyme preparation with clear properties is required, and recombinant protein manufacturing would solve this problem. Because yeasts are simple to grow and frequently employed for proteins with glycosylation and disulfide bonds, several research have focused on Saccharomyces cerevisiae or Pichia pastoris as hosts for the production of rHRP.

The "Global horseradish peroxidase market analysis to 2030" is a specialized and in-depth study of the pharmaceutical industry with a special focus on global market trend analysis. The report aims to provide an overview of the horseradish peroxidase market with detailed market segmentation by product type, application, end user, and geography. The report provides key statistics on the market status of the leading horseradish peroxidase market players and offers key trends and opportunities in the market.

The horseradish peroxidase market is segmented based on product type, application, end user, and region. Based on product type, the global horseradish peroxidase market is differentiated into Grade I, Grade II, and Grade III. By application, the horseradish peroxidase market is bifurcated into immunoassay and biosensor. By end user, the horseradish peroxidase market is bifurcated into biopharmaceutical companies, academic & research center and others.

The global horseradish peroxidase market is anticipated to grow owing to the wide application areas of for the enzyme. Horseradish peroxidase has been researched by scientists for ages and it has a significant function in these applications and has been widely employed as a reporter enzyme in histochemistry and diagnostics. Horseradish peroxidase's function in plants and its catalytic mechanism have both been the subject of several investigations. However, the manufacturing of its recombinant proteins has not made much progress. In industrial preparations, horseradish peroxidase is still separated from plant roots and these preparations are often blends of different isoenzymes, only a portion of which have been previously characterized. Due to its numerous uses in healthcare, biology, and biotechnology, such as cancer treatment, biosensor systems, bioremediation, and biocatalysis, horseradish peroxidase is regaining prominence. This enzyme is highly intriguing for future biotech applications because of its medical and commercial uses, recent discovery of additional natural isoenzymes with distinct biochemical properties, and challenges in recombinant manufacturing. The main application areas of HRP research includes Enzymological characterization, recombinant production using a variety of expression systems among others.

Furthermore, there are several gene therapy plans that have been put up for the treatment of cancer. Hydrogen peroxide is used by horseradish peroxidase to oxidize both organic and inorganic substances. Multiple studies have suggested that the HRP/paracetamol combination may be used for hypoxia-targeted gene therapy since it may generate cytotoxicity even in the presence of severe hypoxia (catalyst-induced anoxia). Additionally, chemifluorescence is a technique used for ELISA reactions to increase sensitivity. The sensitivity of ELISA results has improved owing to the increased awareness about technology among players operating in the horseradish peroxidase business. They employ photomultiplier tubes with fluorescence sensing to guarantee reaction stability.

North America accounts for largest revenue share in global horseradish peroxidase (HRP) market, among regional markets, North America emerged as the largest market in 2022. The main drivers of revenue growth in the North American horseradish peroxidase market are escalating biochemistry research and development, eco-friendly qualities that produce less pollution when destroyed, escalating technological innovation, and ongoing research. North America is projected to be followed by Europe because of the expansion of the pharmaceutical and biotech sectors in the region. In terms of growth rate, Asia Pacific is expected to register significant growth rate owing to the presence of developing economies. Various factors such as increased drug development, government initiatives, investment opportunities, expanding biochemistry, biotechnology, and pharmaceutical companies in the rehion are likley to support the market growth growth. Moreover, the increased use of enzymes to enhance the signal in photometric tests for the detection of important substances like proteins, carbohydrates, and nucleic acids are also expected to propel the growth of horseradish peroxidase market.

World Geography

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The report covers key horseradish peroxidase market developments, such as organic and inorganic growth strategies. Various companies such as Abcam plc, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Merck KGaA,, BBI Solutions, Takara Bio Company, Promega Corporation, Faizyme Laboratories, Hoffmann-La Roche Ltd., GenScript, TOYOBO Co., Ltd., Oriental Yeast Co., Ltd., and among others are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of horseradish peroxidase market players. The horseradish peroxidase market players from the horseradish peroxidase market are anticipated to have lucrative growth opportunities with the rising demand for horseradish peroxidase in the global market.

Key Developments in Global Horseradish peroxidase market

  • In January 2023, AlphaThera has launched oYo-Link Horseradish Peroxidase (HRP). Is the new addition to their range of site-specific antibody labeling reagents. oYo-Link antibody-HRP labeling technology will allow the rapid production of highly uniform primary antibody conjugates in just two hours, and with only 30 seconds hands-on time.
  • In June 2022, Creative Enzymes launched Horseradish Peroxidase for research & industrial production.
  • In March 2020, Epitope Diagnostics, Inc. launched immunoassay kits for the qualitative detection of COVID-19, in which recombinant COVID-19 antigen is identified with horseradish peroxidase (HRP) to perform the test.

The horseradish peroxidase report also includes key companies' profiles, their SWOT analysis, and horseradish peroxidase market size & startegies in the horseradish peroxidase market . In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information for the last three years, and key development in the past five years.

The Insight Partner’s dedicated research and analysis team comprises experienced professionals with advanced statistical expertise and offers various customization options in the current study.

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

The List of Companies

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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