Horseradish Peroxidase Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Horseradish Peroxidase Market is Segmented By Substrate (ABTS Reagents, OPD (ophenylenediamine dihydrochloride), TMB (3,3’,5,5’-tetramethylbenzidine), Others), By Application (Immunoassays, Biosensors, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Horseradish Peroxidase Market Overview

The global "horseradish peroxidase (HRP)  market" size is estimated to reach at a high CAGR during the forecast period 2023-2030

Horseradish peroxidase is an enzyme that catalyzes the conversion of chromogenic or chemiluminescent substrates to detect targets such as proteins, carbohydrates, and nucleic acids in photometric assays.

Horseradish Peroxidase Market Scope

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Horseradish Peroxidase Market Dynamics

The increasing use of horseradish peroxidase (HRP)  for different applications is expected to drive market growth.

Increasing use of horseradish peroxidase (HRP)  for different applications is expected to drive the global horseradish peroxidase (HRP)  market

For centuries, scientists have been studying horseradish peroxidase. It has been extensively used as a reporter enzyme in diagnostics and histochemistry and plays an important role in these applications. Numerous studies on the role of horseradish peroxidase in the plant and its catalytic mechanism have been conducted. However, there has been little progress in its recombinant production. Horseradish peroxidase is still isolated from plant roots in commercial preparations. These preparations are typically mixtures of various isoenzymes, only a subset of which has been described thus far. Horseradish peroxidase is regaining popularity due to its wide range of applications in medicine, life sciences, and biotechnology, including cancer therapy, biosensor systems, bioremediation, and biocatalysis.

The medical and commercial applications, the recent discovery of new natural isoenzymes with different biochemical properties, and the difficulties in recombinant production make this enzyme particularly appealing for future biotech applications. HRP research typically focuses on enzymological characterization, recombinant production in various expression systems, and, to a large extent, applications and their optimization through mutagenesis and chemical engineering. Furthermore, due to their biochemical diversity, the large number of HRP isoenzymes form a useful toolbox of plant peroxidases from which an isoenzyme that best meets the requirements of an application can be selected. For example, enzyme stability in the presence of external factors (such as peroxide species and temperature) is critical in biocatalysis and bioremediation.

Disadvantages of horseradish peroxidase are expected to hamper the market growth

The first minor disadvantage of using horseradish peroxidase is that it may cause non-specific staining due to endogenous peroxidase activity observed in specific tissues or cells. When thin frozen sections of tissues are taken, they frequently reveal mild to moderate endogenous peroxidase activity. This is likely to deter researchers from using horseradish peroxidase. Another minor disadvantage of HRP is its sensitivity to breakdown. Alkaline phosphatase and HRP are large enzymes in general, and their size interferes with the biochemical function of the protein to which they are attached.

COVID-19 Impact Analysis

Leading horseradish peroxidase companies are gaining a competitive advantage over emerging players by providing enzymes and other products and services to end-users in areas where travel is restricted. A technique known as ELISA can be used to test for antibodies (Enzyme-Linked Immunosorbent Assay). Consider an ELISA a chain, with the first link being your target antigen (SARS-COV-2) attached to a plate or membrane.

Bioengineering researchers at Stanford School of Medicine contacted Agilent in late March 2020 for  HRP conjugated IgG, IgA, and IgM. Agilent also met a second request for 50,000 ELISA plates in half the time expected, delivering the critical material in four weeks. Hence, the COVID-19 had a positive impact on the global horseradish peroxidase (HRP)  market.

Horseradish Peroxidase Market Segment Analysis

ABTS Substrate segment is expected to dominate the  global horseradish peroxidase (HRP)  market

For horseradish peroxidase-based ELISA systems, ABTS is regarded as a safe, sensitive substrate. Enzymatic activity produces a blue-green colour that can be measured at 405-410 nm. With the addition of acid, the reaction can be stopped and evaluated at unstopped wavelengths. If the reaction is allowed to proceed for 30 minutes, the reagent system can be compared to TMB. For example, CHEMICON offers a single component room temperature stable ABTS reagent system for ELISA procedures. The exclusive non-organic formulation provides the researcher with a horseradish peroxidase detection system that can be used as a kinetic or endpoint procedure evaluated at the same wavelength.

Companies in the horseradish peroxidase market are expanding their manufacturing capabilities to develop room-temperature stable single component ABTS reagents, which are widely used in ELISA procedures. As a result, for horseradish peroxidase detection systems, researchers are turning to non-organic formulations. Manufacturers primarily optimized for ELISA assays in microwell plates or test tubes, ABTS reagents are being developed. For example, BBI Solutions, a multinational pharmaceutical company based in the United States, has a diverse product portfolio of blue-green colour ABTS single reagents that enhance enzymatic activities.

Global Horseradish Peroxidase Market Geographical Share

North America region accounted for the largest market share in the global horseradish peroxidase (HRP) market

The increased research and development and presence of key players in this region are expected to drive market growth.

To address the rise in the incidence of rare and chronic diseases, research organizations in the public sector and the pharmaceutical and biotech industries are investing in the research and development of new OPD (ophenylenediamine dihydrochloride). For instance, in 2018, the biopharmaceutical industry in the United States invested an estimated US$ 102 billion in R&D. Bio-Rad Laboratories, Inc. is based in the United States that develops and manufactures specialized technological products for the clinical diagnostics and life science research markets. The company has HRP Conjugates and the Bio-Rad HRP substrate-based ECL. The Western Clarity Western ECL Substrate uses HRP conjugate to produce a long signal duration with high sensitivity and low background.

Horseradish Peroxidase Market Companies and Competitive Landscape

The global horseradish peroxidase (HRP) market is highly competitive, owing to major key players. Some of the major key players in the market are Abcam plc, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Merck KGaA, BBI Solutions, Takara Bio Company, Promega Corporation, F. Hoffmann-La Roche Ltd., TOYOBO Co., Ltd., Oriental Yeast Co., Ltd., and GenScript.

Bio-Rad Laboratories

Overview: Bio-Rad Laboratories, Inc. is based in the United States. The company develops and manufactures specialized technological products for the life science research and clinical diagnostics markets.

Product Portfolio: The company manufactures HRP and AP Conjugates. The company’s Blotting-grade HRP conjugates (horseradish peroxidase) and AP conjugates (alkaline phosphatase) produce specific results in western blotting immunoassays, eliminating false positives.

Key Development: On 8th April,  Bio-Rad Laboratories, Inc. acquired Celsee, Inc., which provides instruments and consumables for single-cell isolation, detection, and analysis. Bio-Rad will go into greater detail about the acquisition during its first-quarter 2020 financial results conference call.