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Horseradish Peroxidase Market Size

Report ID: GMI9712
Published Date: May 2024
Report Format: PDF

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Horseradish Peroxidase Market Size

Horseradish Peroxidase Market size was valued at USD 64.1 million in 2023 and is anticipated to showcase growth at 7.5% CAGR from 2024 and 2032. Increasing demand for immunoassays in disease diagnosis, growing investments in biomedical research, and growing demand for drug development and drug quality control is driving the revenue growth in market. Additionally, advances in enzyme engineering and production are also strengthening the revenue growth in the market.

Horseradish Peroxidase Market

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Horseradish peroxidase is an enzyme derived from the roots of the horseradish plant and belongs to the peroxidase family of enzymes. This enzyme is extensively used in various biochemical, biotechnological, and biomedical applications due to its versatile catalytic properties.

Horseradish Peroxidase Market Report Attributes
Report Attribute	Details
Base Year:	2023
Horseradish Peroxidase Market Size in 2023:	USD 64.1 Million
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	7.5%
2024 – 2032 Value Projection:	USD 121.7 Million
Historical Data for:	2021 – 2023
No. of Pages:	155
Tables, Charts & Figures:	278
Segments covered:	Substrate, Grade, Application, End-user, and Region
Growth Drivers:	Increasing demand for immunoassays in disease diagnosis Growing investments in biomedical research Growing demand for drug development and drug quality control Advances in enzyme engineering and production
Pitfalls & Challenges:	Risk related to consistent availability of raw materials Concerns related to storage and low shelf life

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global horseradish peroxidase market size was valued at USD 64.1 million in 2023 and is anticipated to showcase growth at 7.5% CAGR from 2024 – 2032, driven by increasing demand for immunoassays in disease diagnosis and growing investments in biomedical research.

The immunoassays segment held 65.7% of the market share in 2023 and will grow rapidly through 2032, attributed to increasing use of horseradish peroxidase-based antibody assays across diagnostic testing requiring high sensitivity.

North America horseradish peroxidase market accounted for 40.6% share in 2023 and is predicted to reach USD 47.8 million by 2032, attributed to increasing demand of horseradish peroxidase-based assays for diagnostic testing.

Abcam Limited, Abnova Corporation, BBI Solutions, Bio-rad Laboratories, Inc, Creative Enzymes, Enzo Life Sciences, Inc, F. Hoffman-La Roche Ltd., Faizyme Laboratories (Pty) Ltd, GenScript, and Merck KGaA among others.