PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477189
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477189
Forensic Technologies and Services Market size was valued at USD 17,676.34 Million in 2023, expanding at a CAGR of 11.5% from 2024 to 2032.
The Forensic Technologies and Services Market encompasses the provision of tools, techniques, and expertise utilized in legal investigations, criminal justice proceedings, and scientific analyses. Recent trends in the market involve advancements in forensic DNA analysis techniques, such as next-generation sequencing, leading to more accurate and rapid identification of suspects and victims. However, restraints include the high cost associated with advanced forensic technologies and the limited budgets of law enforcement agencies. Opportunities in the market lie in the increasing demand for forensic technologies in both law enforcement and private sector applications, driven by the rising incidence of crime, regulatory requirements, and technological advancements.
Forensic Technologies and Services Market- Market Dynamics
Surge in DNA profiling and fingerprint technologies driving forensic testing visibility
The surge in DNA profiling and fingerprint technologies is significantly enhancing the visibility of forensic testing. Recent data reveals a sharp increase in the utilization of these advanced techniques, with DNA profiling witnessing a double-digit growth rate in forensic applications over the past few years. Similarly, fingerprint technologies are experiencing a resurgence in popularity, with modern advancements enabling more precise and reliable identification methods. A 2017 report from the National Institute of Standards and Technology (NIST) found that the adoption of fingerprint technology has increased by 40%. This heightened adoption underscores the growing importance of forensic testing in criminal investigations and legal proceedings, signalling a paradigm shift towards more sophisticated and effective investigative techniques.
Forensic Technologies and Services Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.5% over the forecast period (2024-2032)
Based on Type segmentation, Capillary Electrophoresis was predicted to show maximum market share in the year 2023
Based on Services segmentation, DNA profiling was the leading type in 2023
Based on Location segmentation, Laboratory forensics technology was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Forensic Technologies and Services Market is segmented based on Type, Services, Location, Application, and Region.
The market is divided into five categories based on Type: Several key technologies stand out in the Type category, including Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Next Generation Sequencing (NGS), Rapid DNA Analysis, Microarrays, and other emerging methods. These technologies serve as the foundational tools for forensic analysis.
The market is divided into four categories based on Services: The services category delineates the various applications of these technologies in forensic investigations. These services encompass DNA Profiling, facilitating identification through genetic analysis; Chemical Analysis, aiding in the examination of substances for forensic purposes; and firearm-related investigations.
Forensic Technologies and Services Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America and Europe lead in market share, driven by robust forensic infrastructure and advanced technologies. The Asia-Pacific region shows significant growth potential, fueled by increasing investments in forensic capabilities and rising awareness of forensic science in emerging economies such as China and India. Emerging markets in Latin America and Africa are also witnessing growth, spurred by government initiatives to modernize forensic practices and improve crime investigation outcomes.
The Competitive Landscape of the Forensic Technologies and Services Market is characterized by notable players such as Thermo Fisher Scientific, Agilent Technologies, and LGC Limited. These industry leaders leverage their advanced technologies and comprehensive service offerings to maintain market dominance. Strategic partnerships, mergers, and acquisitions are common strategies employed to expand market share and enhance capabilities. Additionally, emerging players and startups contribute to market competitiveness by introducing innovative forensic technologies and services tailored to specific industry needs.
In September 2022, Governor Lamont announced Connecticut received a grant for the development of a unified statewide forensic management interface that will strengthen investigations of firearms in crimes.
GLOBAL FORENSIC TECHNOLOGIES AND SERVICES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Agilent Technologies, Inc.
BAE Systems plc.
Capsicum Group LLC
Computer Forensic, Inc
Creative Forensic Services
eDirect Impact, LLC
Eurofins Medigenomix Gmbh
Forensic Fluids Laboratories
Forensic Pathways
Ge Healthcare
Illumina, Inc.
Lgc Forensics
Nms Labs
Pyramidal Technologies Ltd
Spex Forensics
Thermo Fisher Scientific Inc.
Others