As per the report found in Pro Market Statistics, the global forensic technologies market was estimated at USD 43.34 billion in 2017 and presumed to reach the value of USD 98.90 billion by 2025. Moreover, the market is slated to expand at a CAGR of 9.7% during the forecast period (2017-2025).
Various factors leaving a positive impact on the global forensic technologies market include a growing number of funding programs that focus on pneumonia research and the presence of a strong product pipeline. However, the high number of patent expiration could cause hindrance to the ongoing market development in the coming years.
Yet, with the increasing number of crime rates coupled with the sophistication of crimes across the globe, the need for advanced technology and intelligence in solving crimes is increasing as well. These technologies identify increasing crime rate, which demands improved investigation techniques, based on which the market will be experiencing a massive turnover before the end of the forecast period. Moving ahead, forensic technologies are exceptionally instrumental in a number of criminal investigations as the increasing number of criminal cases augments the backlog of pending cases. Hence, influenced by the combination of these factors, various crime laboratories equipped with high-caliber forensic products as well as services are presently being set up around the world.
The global forensic technologies market is segmented Based on product, type, location, service, and application.
Depending on the product, the market is fragmented into, bio metric forensics, digital forensics, ballistic forensics, DNA testing and others.
By type, the market is segmented into capillary electrophoresis, microarrays, next-generation sequencing, rapid DNA analysis, automated fluid handling technology and others. Capillary electrophoresis are said to be the major revenue segment in the global forensic science market, based on its utilization in various forensic applications. The capillary electrophoresis technique leads to chemical analysis of organic and inorganic samples during DNA testing as well as forensic ballistics. On account of the advantages like accuracy, technological advancement, ability and greater reducibility, ability to handle high throughput sample, the forensic technologies market is set to note considerable development in this segment.
Location-wise, the market is segmented into Laboratory Forensic Technology and Portable Forensic Technology.
The services covered in the report include, DNA Profiling, Fingerprinting Analysis, Chemical Analysis, Firearm Analysis and others. Various applications of forensic technologies are pharmacogenetic, judicial/law enforcement, pharmacogenetic, biodefense and bio surveillance.
Regions covered in the forensic technologies market include, North America, Asia Pacific, South America, Europe, and the Middle East and Africa.
North America is projected to account for the highest market share owing to high incidences of crime, coupled with technological advancements in forensic sciences and high investigator's compliance for advanced forensic techniques like DNA profiling, biometric analysis techniques, and firearm analysis. Additionally, the presence of many forensic laboratories is also elevating the demand for forensic technologies market.
Then again, increasing investment by government along with a number of supportive reimbursement policies is supporting the development of the market in Europe. Moreover, growing applications of forensic technologies across various end use industries are also bolstering the development of the market in the region.
Asia Pacific has been climbing the global ladder steadily as well, backed by growing focus, and research activities in the DNA sequencing area as well as automated fingerprint identification and facial reconstruction in the region.
General Electric Company, Capsicum Group, LLC, Computer Forensics Inc, 3M Company, Agilent Technologies Inc, Ge Healthcare (A Healthcare Division Of Ge Company), Creative Forensic Services, LGC Limited, Eurofins Medigenomix Forensic Gmbh (Forensic Division Of Eurofins Scientific S.E.), NMS Lab, SPEX Forensics, BAE Systems Plc, Belkasoft, MorphoTrust USA, Thermo Fisher Scientific Inc, and Ultra Electronics Forensic Technology Inc. (Subsidiary Of Ultra Electronics Holdings Plc), are some of the leading companies in the forensic technologies market