Horseradish Peroxidase Market: Research Consumption, Market Size, Companies , Industry Report Analysis and Future Demand and Forecast: 2022-2031

Horseradish Peroxidase Market: Overview

  • According to the latest report on the global horseradish peroxidase market for the historical period 2018–2019 and forecast period 2022-2031, the global horseradish peroxidase market is driven by rise in research & development activities of biopharmaceutical companies
  • According to the report, the global horseradish peroxidase market was valued at ~US$ 49 Mn in 2019 and is anticipated to expand at a CAGR of ~7% from 2022-2031

Rise in Research & Development Activities of Biopharmaceutical Companies and Surge in Usage of Enzymes as Biocatalysts: Key Drivers of Horseradish Peroxidase Market

  • Research organizations across the public sector and pharmaceutical & biotech industries are investing in research & development of new drugs to address the increase in incidence of rare and chronic diseases. The biopharmaceutical industry in the U.S. invested an estimated US$ 102 Bn in R&D in 2018.

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  • In general, for medical diagnostics, it is important to have a stable and robust biopharmaceutical system employing enzymes without any variations in the glycosylation pattern to guarantee reliable and reproducible results. Hence, horseradish peroxidase has become a key component in biopharmaceutical research.
  • Additionally, horseradish peroxidase evolved as a biocatalyst in the research filed due to chemical properties. Hence, it is widely utilized in the study of different pharmaceuticals and other fine chemicals products.

Drawbacks of HRP as Enzyme in Chemiluminescence: Key Restraint of Horseradish Peroxidase

  • The first minor drawback of using horseradish peroxidase is that it could result in non-specific staining that may occur from the endogenous peroxidase activity observed in certain tissues or cells. When thin frozen section of tissues are made, these often reveal a mild to moderate amount of endogenous peroxidase activity. This is likely to act as a deterrent for researchers to use horseradish peroxidase.

Penetration into Novel Applications: Key Opportunities for Horseradish Peroxidase Market

  • A number of gene therapy strategies has been proposed for the treatment of cancer. Horseradish peroxidase utilizes hydrogen peroxide to oxidize both organic and inorganic compounds.
  • Several studies have shown that the cytotoxicity was also observed under conditions of severe hypoxia (catalyst induced anoxia) indicating that the HRP/paracetamol combination could be suitable for hypoxia-targeted gene therapy. This, in turn, is expected to create an opportunity for suppliers of horseradish peroxidase.

Horseradish Peroxidase Market: Competition Landscape

  • This report profiles major players in the global horseradish peroxidase market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments

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  • The global horseradish peroxidase market is highly fragmented, owing to the presence of numerous international as well as regional players
  • Leading players operating in the global horseradish peroxidase market include 
    • 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.
    • GenScript

Horseradish Peroxidase Market: Key Developments

  • Key players in the global horseradish peroxidase market are engaged in regulatory approvals, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to augment the global horseradish peroxidase market. A few expansion strategies adopted by players operating in the global horseradish peroxidase market are:
    • In March 2020, Epitope Diagnostics, Inc. introduced immunoassay kits exclusively for the qualitative detection of COVID-19, where horseradish peroxidase (HRP) labeled recombinant COVID-19 antigen is added to perform the test
  • The report on the global horseradish peroxidase market discusses individual strategies, followed by company profiles of manufacturers and suppliers of horseradish peroxidase substrate. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global horseradish peroxidase market.

Horseradish Peroxidase Market – Scope of the Report

The report on the global horseradish peroxidase market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2020 to 2030. The report provides revenue of the global horseradish peroxidase market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global horseradish peroxidase market during the forecast period.

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The report has been prepared after extensive primary and secondary researches. Primary research involves bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global horseradish peroxidase market.

Secondary research also includes Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global horseradish peroxidase market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global horseradish peroxidase market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global horseradish peroxidase market.

The report delves into the competition landscape of the global horseradish peroxidase market. Key players operating in the global horseradish peroxidase market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global horseradish peroxidase market that have been profiled in this report.

Key Questions Answered in Horseradish Peroxidase Market Report

  • What is the scope of growth of product companies in the global horseradish peroxidase market?
  • What will be the Y-o-Y growth of the global horseradish peroxidase market between 2020 and 2030?
  • What is the influence of changing trends in life science research on the global horseradish peroxidase market?
  • Will North America continue to be the most profitable market for horseradish peroxidase providers?
  • Which factors are anticipated to hamper the growth of the global horseradish peroxidase market during the forecast period?
  • Which are the leading companies in the global horseradish peroxidase market?

Research Methodology

A unique research methodology has been utilized to conduct comprehensive research on the growth of the global horseradish peroxidase market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary researches, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts during the production of the global horseradish peroxidase market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, and market intelligence managers who contributed to the production of the study on the horseradish peroxidase market as primary research sources.

These primary and secondary research sources have provided exclusive information during interviews, which serves as a validation from the horseradish peroxidase market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global horseradish peroxidase market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching estimates on future prospects of the global horseradish peroxidase market more reliably and accurately.

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