Valuation of Forensic Technologies Market to Reach US$ 87.4 Bn by 2028, TMR Report

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Apr 05, 2022, 09:30 ET

Use of array of scientific, technological, and management tools such as closed circuit televisions and DNA confirmation equipment to investigate crime fuels the growth of the market
Mature markets such as the U.S. could influence stakeholders in the market for further R&D in applications of scientific methods and techniques for investigation of crime

ALBANY, N.Y., April 5, 2022 /PRNewswire/ -- Analysts at TMR project the forensic technologies market to expand at a CAGR of 13.2% over the forecast period from 2021 to 2028. The increase in crime rates that are carried out with sophistication and finesse account for the high demand for advanced forensic technologies for investigating and solving cases across industries, including healthcare, banking, and telecommunications.

Advancements in forensic technologies are gaining considerable traction since the past few years. The forensic technology constitutes principles of several fields of science that are increasingly being supported by avant-garde electronic devices. Law enforcement agencies are now investing in next-gen technology equipped to trace the smallest evidence left by lawbreakers during execution of crime.

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North America is a key region in the forensic technologies market. The extensive use of scientific methods and techniques for investigation of crimes in the U.S. makes it a mature market for stakeholders in the forensic technologies market to draw findings from. Consistent efforts of technicians and scientists in crime laboratories across the U.S. to develop technologies that serve to be standard to be adopted by forensic agencies in other parts of the world make the region significant in the forensic technologies market.

Furthermore, the expanding use of forensics by law enforcement agencies and private companies in various industries, including healthcare, explains the leading share of the North America forensic technologies market.

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Forensic Technologies Market – Key Findings of Report

Portable forensics and laboratory forensics are two key mediums used in the forensic technologies market. The laboratory forensics segment held considerable share of the forensic technologies market in 2020. Laboratory forensics enables examination of samples without any contamination since most of the evidence collected from the site of crime are contaminated.
Advanced technologies such as alternative light photography are increasingly becoming an integral part of forensic investigation. Alternative light photography uses blue and orange light filters to measure the magnitude of damage on the skin, drug testing, and facial reconstruction.
Significant rise in the number of cybercrimes stimulates the adoption of digital forensic technologies. Digital forensic technologies are adopted to respond to incidents of procurement fraud, IP infringement, and white-collar crimes.
Prolonged prevalence of COVID-19 posed obstacles for smooth investigation of crime for forensic agencies. Presence of coronavirus particles that are transmitted through air contaminated evidence at crime site, and thus affected outcomes of sample collection, laboratory examination, transport, and storage of evidence. This has roused stakeholders in the forensic technologies market to adopt best biosafety practices. Such practices will help to balance to conduct investigations and adopt necessary safety guidelines for protection against virus in the air.
Chemical analysis segment held the leading share of the forensic technologies market in 2020. Technological advancements such as GC/MS system for analysis of toxic substances and drugs fuels the growth of chemical analysis segment of forensic technologies market.

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Forensic Technologies Market – Growth Drivers

Significant rise in crime executed with sophistication and finesse across various industries that requires advanced forensic technologies to investigate and solve cases fuels the growth of forensic technologies market
Integration of principles of various fields including science, management, technology for effective investigation of crime boosts the forensic technologies market

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Forensic Technologies Market – Key Players

Some of the key players operating in the forensic technologies market are;

AB Sciex
Forensic Pathways
Eurofins Medigenomix GmbH
LGC Limited
NMS Labs
SPEX Forensics
Forensics Consulting Solutions
GE Healthcare Lifescience
Neogen Corporation
Thermo Fisher Scientific Inc.
Pyramidal Technologies Ltd.

The forensic technologies market is segmented as follows;

Forensic Technologies Market, by Service

DNA Profiling

PCR
Y-STR
RFLP
Mitochondrial DNA
Others

Chemical Analysis

Mass Spectrometry
Chromatography
Spectroscopy
Others

Biometric/Fingerprint Analysis
Firearm Analysis
Others (Computer Forensics, Network Forensics, Cloud Forensics, etc.)

Forensic Technologies Market, by Location

Laboratory Forensics (LIMS)
Portable Forensics (FaaS)

Forensic Technologies Market, by Region

North America

U.S.
Canada

Europe

U.K.
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific

China
Japan
Australia
India
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

South Africa
GCC Countries
Rest of Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:

DNA Forensic Market: The forensics and DNA market is expected to grow considerably on account of increasing concerns of security, technological innovations in diagnostics, and rising awareness of the serious implications of forensics use. Analysis of DNA is used to identify the genetic distinguishing factors of an individual. The plethora of areas of the genome are called polymorphic regions, which are used for forensic analysis and genetic mapping.

Forensic Swabs Market: Swabs are used for forensic purposes. These are specially developed for proper sample detection, analyzes, and securing the remains and traces left at the crime scene. Various types of samples can be used as forensic swabs such as saliva, blood, epithelial cells, or sperms from semen. The samples recovered on the forensic swabs are sent for DNA testing in order to find the culprit through genetic fingerprinting.

Gene Therapy Market: Gene therapy market was valued at US$ 1.3 Bn in 2020 and is projected to expand at a CAGR of 19.8% from 2017 to 2028. Gene therapy is a way of fixing genetic disorders by introducing a normal and healthy gene in place of the defective one in a cell to prevent or cure different types of genetic and chronic disorders for which no cure has been developed.

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