Industry Background:
Horseradish Peroxidase (HRP) is an enzyme that is found in the roots of horseradish. Horseradish Peroxidase is used extensively for application in biochemistry. Horseradish Peroxidase is often used in conjugates which are the molecules that have been joined chemically to determine the presence of a molecular target. It is also commonly used in techniques like ELISA and IHC because of its monomeric nature and how easily it produces colored products. Horseradish Peroxidase also might be used to detect the amount of specific protein in western blot which is used in biotechnology. Due to its smaller, more stable, and less expensive nature, Horseradish Peroxidase is used in many applications. Horseradish peroxidase is also used to remove hydroxylated aromatic compounds from the removal of industrial wastewater.This growth is primarily driven by Increasing Demand for Biotechnology in Industrial Applications and Need in the Removal of Pollutants From Water.
Globally, a noticeable market trend is evident Growing Demand of Horseradish Peroxidase in Techniques Like ELISA And IHC
. Major Players, such as Abcam plc (United States), Thermo Fisher Scientific, Inc. (United States), Bio-Rad Laboratories (United States), Merck KGaA, (United States), BBI Solutions (United States), Takara Bio Company (Japan), Promega Corporation (United States), Faizyme Laboratories (United States), F. Hoffmann-La Roche Ltd. (Switzerland) and TOYOBO Co., Ltd. (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 4th March 2021, Abcam, a leader in the production of Horseradish Peroxidase and global innovator in life science reagents and tools announced the expansion of its footprint in China with the opening of new custom-built facilities in Hangzhou and Shanghai. According to Abcam; expanded customer service, logistics, and manufacturing capabilities are strengthening Abcam’s position as a leading collaborator for academia and industry in the region.
Market Drivers
- Increasing Demand for Biotechnology in Industrial Applications
- Need in the Removal of Pollutants From Water
Market Trend
- Growing Demand of Horseradish Peroxidase in Techniques Like ELISA And IHC
- Increasing Demand of Horseradish Peroxidase in Immunochemistry
Restraints
- Horseradish Peroxidase Has Low Tolerance Towards Preservatives
Opportunities
Increasing Demand of Horseradish Peroxidase Due to Increasing Applications of Biotechnology and Growing Demand of Horseradish Peroxidase from Developing Economies
Challenges
Horseradish Peroxidase May Result in Non-Specific Staining in Certain Tissues or Cells and Horseradish Peroxidase Is Sensitive to Breakdown
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