Forensic Technology Market Insights:
Forensic Technology Market size was valued at USD 14.5 Billion in 2021, expecting a CAGR of 11.1% during the forecast period (2022-2030), and the market is projected to be worth USD 37.39 Billion by 2030.
The increased adoption of Forensic Technology in the Biotechnology industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Forensic Technology also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Forensic Technology in many sectors also boosts the market growth during the forecast period.
Forensic technologies are used to analyse samples and evidence in the course of criminal investigations and prosecutions. To conduct investigations and analyse evidence, many technologies such as scanning electron microscopy, DNA fingerprinting, alternative light photography, face reconstruction, and LA-ICP-MS are employed in various sectors of forensic science. These technologies produce accurate and dependable findings in a variety of scenarios, including missing person investigations, disaster victim identification, paternity testing, and others.
Forensic Technology Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Type (Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Next Generation Sequencing (NGS), Rapid DNA Analysis, Automated Liquid Handling Technology, Microarrays, Others), By Services (DNA Profiling, Chemical Analysis, Biometric Analysis, Firearms Identification, Others) By Application (Pharmacogenetics, Biodefense & Bio surveillance, Judicial/Law Enforcement, Others), By Location (Laboratory Forensics Technology, Portable Forensics Technology) and companies (LGC Forensics, Forensic Pathways, SPEX Forensics, Forensic Fluids Laboratories, Pyramidal Technologies Ltd, Agilent Technologies, GE Healthcare, Thermo Fisher Scientific, Inc., NMS Labs, Eurofins Medigenomix GmbH), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 11.1%, over the forecast period of 2022–2030.
Forensic Technology Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||37.39 Billion|
|By Type||Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Next Generation Sequencing (NGS), Rapid DNA Analysis, Automated Liquid Handling Technology, Microarrays, Others|
|By Services||DNA Profiling, Chemical Analysis, Biometric Analysis, Firearms Identification, Others|
|By Application||Pharmacogenetics, Biodefense & Bio surveillance, Judicial/Law Enforcement, Others|
|By Location||Laboratory Forensics Technology, Portable Forensics Technology|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||LGC Forensics, Forensic Pathways, SPEX Forensics, Forensic Fluids Laboratories, Pyramidal Technologies Ltd, Agilent Technologies, GE Healthcare, Thermo Fisher Scientific, Inc., NMS Labs, Eurofins Medigenomix GmbH|
The COVID-19 pandemic has had a substantial negative influence on the Forensic Technology market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
LGC Forensics, Forensic Pathways, SPEX Forensics, Forensic Fluids Laboratories, Pyramidal Technologies Ltd, Agilent Technologies, GE Healthcare, Thermo Fisher Scientific, Inc., NMS Labs, Eurofins Medigenomix GmbH
Market Segment Analysis:
- Polymerase Chain Reaction (PCR)
- Capillary Electrophoresis
- Next Generation Sequencing (NGS)
- Rapid DNA Analysis
- Automated Liquid Handling Technology
- DNA Profiling
- Chemical Analysis
- Biometric Analysis
- Firearms Identification
- Biodefense & Biosurveillance
- Judicial/Law Enforcement
- Laboratory Forensics Technology
- Portable Forensics Technology
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Forensic Technology industries in the region.
Key Forensic Technology Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Forensic Technology Market segments.
– Largest Market Share Held by Industry to Industry for Forensic Technology
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Forensic Technology Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
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