• Fri. Jan 22nd, 2021

Forensic Technologies Market 2021 Recent Development and Trends, Expected Growth and its Factors, CAGR, Industry Size, Business Prospects and Forecast 2025

REPORT HIGHLIGHT

The forensic technologies market is estimated to represent a global market of USD 12,689.5 million by 2016 with growth rate of 9.8%.

Market Dynamics

Forensic technologies is defined as the use of advanced technologies to search, retrieve and analyse complex data sets to address investigational, litigation, crime and regulatory issues. Factors such as favourable government initiatives, technological advancements, increasing crime incidents, and other support the market growth. Upsurge in number of violent crime such as murder, intentional homicide, rape, robbery globally is considered to be one of the high impact growth-rendering driver for the uptake of forensic technologies. The study conducted by the United Nations Office on Drugs and Crime (UNODC) in 2021 stated that the global average of intentional homicide was reported to be 6.2 per 100,000 people. Continuous rise in such incidences will boost the demand for advanced forensic technologies, leading the market growth. However, the uncertainty in the pricing policy associated with forensic instruments & reagents, high cost of marketing and sales, unregulated competition from reagents & kits manufacturers may restrict the growth to a considerable level. Additionally, current regulatory scenario is expected to create further impetus for development of forensic field, hence hampers the market growth.

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Technology Takeaway

The market is divided into Capillary Electrophoresis, Next Generation Sequencing (NGS), Rapid DNA Analysis, Polymerase Chain Reaction (PCR), Automated Liquid Handling Technology and others. Capillary Electrophoresis and PCR captured giant share of the total market, more than 58.00% share of the market. Increasing use of these techniques in numerous applications such as paternity testing and criminal investigations have supported the market growth. Services segment is categorized into Chemical Analysis, DNA Profiling, Firearms Identification Biometric Analysis, and Others. DNA profiling is expected to overtake the market of chemical analysis in long rung owing to the rising research and development and growing DNA database across the globe. Application segment is studied as Law Enforcements, Pharmacogenetics, and others. By site, the market is analysed into Laboratory Forensic and Portable Forensic.

Regional Takeaway

Regionally, developed regions such as North America and Europe accounted for significant share of the global market, 65.23% in 2016. Advancement in technologies coupled with sophisticated healthcare infrastructure helped these regions to achieve strong growth. Asia Pacific and Middle East countries are also expected to grow with strong growth rate over the forecast period owing to the continuous rise in crime incidents. According to the study published by the CIVITAS Institute for the Study of Civil Society, countries such as South Africa, India, Venezuela, Belize, and Honduras are the top five countries with highest number of crime rates. This would in turn boost the demand for forensic technologies in countries, leading to the market growth. Further, according to the statistics from the Institute for Security Studies, in Africa, incidence of murder has increased from 16,259 murders in 2013 to 17,068 in 2014, 5.0% up compared to the previous year.

Key Vendor Takeaway

Companies such as Agilent Technologies, GE Healthcare, SPEX Forensics, Thermo Fisher Scientific, and others are profiled. Companies are investing large amount in research and development activities to develop novel technologies, aiming to capture large customer base. Introduction of new products help companies to expand their product offering as well as geographic reach. For instance, in December 2014, Pennsylvania based NMS Labs launched RapidHIT Platform, a system designed for rapid human DNA identification. This product launch is anticipated to facilitate public crime laboratories to control costs in DNA testing and provide more probative evidence in the early stages of investigation.

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The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2015 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2016 to 2025 for every reported segment.

The years considered for the study are:

Historical Year – 2014 & 2015

Base Year – 2015

Estimated Year – 2016

Projected Year – 2025

TARGET AUDIENCE

Traders, Distributors, And Suppliers

Manufacturers

Hospitals

Government and Regional Agencies and Research Organizations

Consultants

Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY TECHNOLOGY

Capillary Electrophoresis

Next Generation Sequencing

Rapid DNA Analysis

Polymerase Chain Reaction

Automated Liquid Handling Technology

Others

MARKET, BY SERVICES

Chemical Analysis

DNA Profiling

Firearms Identification

Biometric Analysis

Others

MARKET, BY APPLICATION

Law Enforcements

Pharmacogenetics

Others

MARKET, BY SITE

Laboratory Forensic

Portable Forensic

MARKET, BY REGION

North America

Europe

Asia Pacific

Rest of the World

MARKET, BY COUNTRY

Further Breakdown of The North America Market

U.S.

Canada

Further Breakdown of The Europe Market

Germany

France

Rest of Europe

Further Breakdown of The APAC Market

India

China

Rest of APAC

Further Breakdown of The Rest of the World Market

Middle East and Africa

Latin America

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