Transparency Market Research in its new report titled, “Horseradish Peroxidase Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the horseradish peroxidase market. The TMR report anticipates that the significant amplification of HRP conjugates, cost-effectiveness of HRP kits, and increase in R&D in the biochemistry sector will drive the horseradish peroxidase market during the forecast period i.e, 2018-2026. However, rise in preference for alkaline phosphatase enzymes over horseradish peroxidase owing to stable and long-lasting signals generated by the latter is expected to restrain the global horseradish peroxidase market during the forecast period, says the report.
The TMR report has segregated the global horseradish peroxidase market based on substrate type, application, and end-user. In terms of substrate type, the market is categorized into tetramethylbenzidine (TMB), o-phenylenediamine dihydrochloride (OPD), 2, 2′-Azino-bis(3-ethylbenzothiazoline-6-sulfonic acid) diammonium salt (ABTS), 3,3'-diaminobenzidine (DAB), and others. The TMB segment accounted for the largest share of the market in terms of revenue in 2017, owing to significant compatibility with the detection imaging equipment. The segment is expected to continue to dominate the market during the forecast period, as TMB substrate oxidizes more quickly than others, resulting in faster color development. In terms of application, the global horseradish peroxidase market is divided into enzyme-linked immunosorbent assay (ELISA), Western blot test, Southern blot test, flow cytometry, and others. The ELISA segment captured the largest market share in terms of revenue in 2017, and the trend is likely to continue during the forecast period. Technological advancements in biomarkers and specific sensitivity of ELISA test are the key drivers of the segment. However, the Western blot test segment is expected to expand at the highest CAGR from 2018 to 2026 due to rise in R&D on highly sensitive biochemical tests involving less number of analytes. On the basis of end-user, the global horseradish peroxidase market is classified into academic institutes, research laboratories, diagnostic laboratories, biotechnological companies, and others.
On a geographical stand, the global horseradish peroxidase market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, North America accounted for the largest market share in 2017, attributed to strategic presence of key biotechnological companies in the U.S. and Canada, and government participation in promoting research on chronic diseases such as AIDS and cancer. Increase in demand for cost-effective biomarkers and indirect assays in Europe are anticipated to augment the global horseradish peroxidase market in the region from 2018 to 2026. However, the market in Asia Pacific is projected to expand at the highest CAGR during the forecast period, driven by rise in research grants and funding leverage to research laboratories in India and China. Prominent players operating in the global horseradish peroxidase market are profiled in this report to give a better competitive analysis of the market and these include Thermo Fisher Scientific, Inc., GenScript, RayBiotech, Inc., Promega Corporation, Takara Bio Company, Merck KGaA, Bio-Rad Laboratories, Inc., and Jackson ImmunoResearch, Inc.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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