Global Forensic Technologies Market: Snapshot
The global market for forensic technologies is prosperous, with a projected CAGR of 8.3% during the forecast period of 2017 to 2025. Some of the key factors augmenting the demand in the forensic technologies market are: increasing crime rate, government efforts to stay vigilant against growing acts of terrorism, sophistication of crime, and latent demand for portable forensic technologies and services at the crime scene for time-efficient results. On the other hand, high cost of the instruments and regulatory concerns are hindering the market from achieving its true potential. Nevertheless, the global forensic technologies market is estimated to be worth US$80.7 bn by 2025, substantially up from its evaluated valuation of US$39.6 bn in 2016.
Chemical Analysis In-demand Services Segment, While DNA Profiling Gaining Fast
Based on services, the global forensic technologies market has been segmented into DNA profiling, chemical analysis, biometric or fingerprint analysis, firearm analysis, and others such as computer forensics, network forensics, and cloud forensics. The DNA profiling segment has been further sub-segmented into PCR, Y- STR, RFLP, and mitochondrial DNA, whereas chemical analysis segment has been bifurcated into mass spectrometry and chromatography spectroscopy. In 2016, the chemical analysis segment accounted for the most significant chunk of demand-share in the global forensic technologies market. This was a reflection of recent technological advancements, such as GC/MS system for analysis of drugs or toxicology. On the other hand, the DNA analysis segment is anticipated to expand at a better-than-average CAGR of during the forecast period, owing to its ability to provide accurate and efficient result in short period of time, with low cost. Based on DNA profiling, the Y-STR sub-segment is expected to expand at an impressive rate in the near future. However, the PCR sub-segment presents significant opportunities in North America, with high attractiveness index during the forecast period.
By location, forensic technologies market is categorized into laboratory forensics (LIMS) and portable forensics (FaaS) segment. The laboratory forensics segment accounted for a considerable chunk of share of the global forensic technologies market in 2016. This is attributable to effective and efficient results in laboratory settings, as samples can be analyzed without any contamination (most of the pieces of evidence at a crime scene tend to be contaminated). Moreover, technological advancements (adoption of laboratory information management system (LIMS) software to perform multiple tasks at a time) in laboratory settings are expected to augment the market during the forecast period. Whereas the portable forensic segment is anticipated to expand at a high CAGR from 2017 to 2025 due technological advancements in detection of the offender/crime details at the crime scene.
North America Emerges as Most Lucrative Region
North America is the most profitable region in the global forensic technologies market, owing to high adoption rate of new technology and rapid rise in violent crime in the developed country of the U.S. According to the statistics provided by FBI, murder rates in the country rose nearly 10.8% in the U.S. in 2015 as compared to 2014. The North America forensic technologies market has been estimated to be worth US$39.3 bn by 2025, which is nearly half of the projected global value. Europe is currently the second most lucrative region, although Asia Pacific and Latin America are anticipated to exhibit the best two growth rates.
Some of the key companies currently holding prominent positions in the global forensic technologies market are: Agilent Technologies, Thermo Fisher Scientific, LGC Limited, Forensics Consulting Solutions, LLC, SPEX Forensics, NMS Labs, Eurofins Medigenomix GmbH, GE Healthcare Life Sciences, Neogen Corporation, SCIEX (Danaher Corporation), and Forensic Pathway.
Global Forensic Technologies Market: Overview
This report provides in-depth region wise and country wise analysis of the forensic technologies market. Stakeholders of this report include manufacturers and service provider of forensic device, raw material suppliers, research institutes involve in the research of forensic technologies and new players planning to enter the market.
The report provides qualitative and quantitative analysis of the global forensic technologies market. Qualitative analysis comprises market dynamics, trends, product overview, and country-level market information. Quantitative analysis includes major players with their reported revenue, market size, and forecast for the North America, Europe, Asia Pacific, Latin America and Middle East & Africa forensic technologies market in major countries such as the U.S., Canada, Germany, Italy, France, United Kingdom, Spain, Japan, China, Brazil, and Saudi Arabia. Market revenue is provided in terms of US$ Mn from 2015 to 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 for all the segments, considering 2016 as the base year. The executive summary of the report provides a snapshot of the forensic technologies with information on leading segments, country wise market information with respect to the market size, growth rate (CAGR %), and growth factors.
The market overview section comprises impact factors such as drivers, restraints, and opportunities for the global forensic technologies market. These factors would aid the stakeholders in establishing a strong foothold in the global forensic technologies market. Furthermore, the market overview section comprises key industry events, product overview, market attractiveness analysis and emerging trend in the Forensic technologies market. The market attractiveness analysis provides a graphical view comparing the growth and market dynamics in various segments and country wise to identify the most attractive market.
Global Forensic Technologies Market: Segmentation
The forensic technologies market has been segmented as by services, by location and by geography. Based on services, the market has been segmented into DNA Profiling, Chemical Analysis, Biometric / Fingerprint Analysis, Firearm Analysis, and Others (computer forensics, network forensics, cloud forensics, etc.) Based on location, the market has been segmented into Laboratory Forensics (LIMS) and Portable Forensics (FaaS)
Geographically, the forensic technologies market has been categorized into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Moreover, analysis for the major countries comprising U.S. Canada, Germany, Italy, France, U.K., Spain, Rest of Europe, Japan , China, India, Australia, Rest of APAC, Brazil, Mexico, Rest of LATAM, South Africa, Saudi Arabia and Rest of MEA have also been provided in the report. A detailed qualitative analysis of the factors responsible for driving and restraining the growth of the forensic technologies market in various regions has been provided in this section.
This report also includes various ups and downs about particular country or geography that has impacted the overall market globally. The report provides a detailed outline/blueprint of the forensic technologies market globally that will assist new companies in establishing their presence and market players in expanding their market share in the market.
Global Forensic Technologies Market: Competitive Landscape
The report concludes with the company profile section which includes company overview, financial overview, SWOT analysis, product portfolio, business strategies and recent developments for market players. The major players that are profiled in the report include, NMS Labs, SPEX Forensics, GE Healthcare Life Sciences, Neogen Corporation, Forensics Consulting Solutions, LLC, Forensic Pathway, SCIEX (Danaher Corporation),Thermo Fisher Scientific and others.
Global Forensic Technologies Market has been segmented into:
- Global Forensic Technologies Market, by services
- DNA profiling
- Y- STR
- Mitochondrial DNA
- Chemical Analysis
- Mass Spectrometry
- Biometric / Fingerprint Analysis
- Firearm Analysis
- Others (computer forensics, network forensics, cloud forensics, etc.)
- DNA profiling
- Global Forensic Technologies Market, by Location
- Laboratory Forensics (LIMS)
- Portable Forensics (FaaS)
- Global Forensic Technologies Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America