Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 18.29 Billion | USD 52.78 Billion | 12.50% | 2023 |
The global Forensic Technologies Market size was worth around USD 18.29 Billion in 2023 and is predicted to grow to around USD 52.78 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 12.50% between 2024 and 2032.
The report covers forecast and analysis for the forensic technologies market on a global and regional level. The study provides historic data of 2018 to 2022 along with a forecast from 2023 to 2032 based revenue (USD Billion).
Forensic technology is the scientific method of investigating, looking for, recovering, and analysing evidence acquired at the scene of a crime. The system enables the user to gather data for investigations, litigation, regulatory, and financial crime requirements. To perform forensic investigations, a variety of processes and equipment, such as information accumulation and charting tools, recordkeeping systems (RMS), closed circuit televisions (CCTV), licence plate recognition (LPR) systems, and DNA confirmation equipment, are employed. Sophisticated technology, such as alternative light photography, which employs blue and orange light filters to detect the amount of skin damage, as well as facial reconstructions and drug testing, have become frequently employed as part of forensic inquiry in recent years.
Forensic technology is used for identification, interpretation, and assessment of substantial evidence gathered from the site of the crime. Intentional homicide, murder, rape, and robbery are the primary reasons propelling the need for forensics, thereby fueling market growth. According to United Nations Office on Drugs and Crime (UNODC), in their last study conducted in 2012, the global average of intentional homicide was reported to be 6.2 per 100,000 people. In addition, amongst all regions, Americas accounted for the highest rate of intentional homicide followed by Africa and Asia.
According to FBI, in the U.S., there were 5.3 murders per 100,000 people on 2016 which has resulted in the increased growth of global forensic technology market as governments are using forensic technology to be also some of the drivers for the demand in the forensic technology market. The market is also driven by the increase in investments by public and private organizations for forensic research. For instance, the Debbie Smith Act provides grants to United States federal government to conduct DNA analyses of backlogged DNA samples collected from crime sites. Due to the high cost of the equipment and technologies, many emerging nations cannot afford it. This acts as a restraint for the growth of the forensic technology market.
The study includes drivers and restraints for the forensic technologies market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the forensic technologies market on a global level.
In order to give the users of this report a comprehensive view on the forensic technologies market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein service type segment, type of form segment and application segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, technology and regional expansion of major participants involved in the market on global and regional basis. Moreover, the study covers price trend analysis, product portfolio of various companies according to region.
The study provides a decisive view on the forensic technologies market by segmenting the market based on service type, application and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2017 to 2023.
Based on service type the market is segmented into DNA profiling, chemical analysis, biometric/ fingerprint analysis, firearm analysis and others. In the forecast period, the chemical analysis segment is expected to dominate the service type segment.
Based on application the market is segmented into pharmacogenetics, biodefense and biosurveillance, judicial/law enforcement and others category. Judicial or law enforcement is expected to dominate the market because of the consistent efforts by government authorities to create DNA databases.
Report Attributes | Report Details |
---|---|
Report Name | Forensic Technologies Market Size Report |
Market Size in 2023 | USD 18.29 Billion |
Market Forecast in 2032 | USD 52.78 Billion |
Growth Rate | CAGR of 12.50% |
Number of Pages | 188 |
Forecast Units | Value (USD Billion), and Volume (Units) |
Key Companies Covered | AB Sciex (Danaher Corporation), Eurofins Medigenomix GmbH, Forensics Consulting Solutions, Forensic Pathways, GE Healthcare Lifescience, LGC Limited, Neogen Corporation, NMS Labs, Agilent Technologies, SPEX Forensics, and Others. |
Segments Covered | By Service Type, By Application,and By region |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East & Africa with its further bifurcation into major countries including the U.S., Rest of North America, U.K., Germany, France, Rest of Europe, China, Japan, India, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Saudi Arabia, UAE, South Africa and Rest of Middle East and Africa. This segmentation includes demand for forensic technologies market based on individual service type, and application in all the regions and countries.
North America held a dominant share of the international market for forensic technology market and the region is projected to continue with its regional supremacy over the forthcoming years as well. The growth of this regional market is due to rapid increase in the crimes and the higher adoption rate of new technology. Asia-Pacific is projected to grow at a significant CAGR, due to rising investments in human identification application.
The report also includes detailed profiles of end players such as -
Global Forensic Technologies Market: Service Type Segment Analysis
Global Forensic Technologies Market: Application Segment Analysis
Global Forensic Technologies Market: Regional Segment Analysis
FrequentlyAsked Questions
The global Forensic Technologies Market size was worth around USD 18.29 Billion in 2023 and is predicted to grow to around USD 52.78 Billion by 2032
compound annual growth rate (CAGR) of roughly 12.50% between 2024 and 2032.
The largest share of the Forensic Technologies Market is held by Asia Pacific. Developing countries of Asia Pacific such as China, Japan, and India will be dominating the market scenario mainly due to the rising constructional activities. The growth of Asia-Pacific region is expected to be followed by the Middle East and North America. Also, significant growth is expected from Western Europe owing to the developments taking place in this region especially in countries such as Italy, Germany, the U.K, France, and Spain. However, growth in Africa, Latin America, and Eastern Europe is anticipated to be moderate over the forecast period.
AB Sciex (Danaher Corporation), Eurofins Medigenomix GmbH, Forensics Consulting Solutions, Forensic Pathways, GE Healthcare Lifescience, LGC Limited, Neogen Corporation, NMS Labs, Agilent Technologies, SPEX Forensics, and Others.
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