Human Identification Market Industry: Segmentation, Targeting, Positioning With Manufacturing Process and CAGR Forecast by 2029
The market for human identification is expected to grow at a CAGR of 8.8% during the forecast period and reach US$ 1.95 billion in value by the end of 2029.
The global market for Human Identification has been projected to register a CAGR of 6% throughout the forecast period 2017 to 2022, according to Future Market Insights’ (FMI) recently published report. The global human identification market is estimated to account for more than US$ 1,000 Mn revenues by 2022-end.
Use of Skin Microbiome for Human Identification — A Major Trend
One of the major trends observed in the global human identification market is use of skin microbiome. Although this process is excessively time consuming, extending to approximately 3 years, it is anticipated to offer a preliminary market panel, creating opportunity for future development of a reproducible & robust technique for human identification. New product developments, and increasing M&A activities are other key trends being witnessed in the market. A key challenge for market players is price erosion in genomics services as well as instruments. Several molecular detection procedures for human identification are yet in their validation stage. However, few of them are available in the market, and are being implemented in several laboratories worldwide.
The global human identification market has been experiencing a continuous launch of new & advanced products over the recent past. In addition, rapid DNA analysis has gained immense traction in improving the process of human identification. Leading companies in the human identification market are shifting their focus towards minimization of cost & time required for DNA analysis. Several governments around the world are offering funds for R&D activities related to human identification technologies.
A sample of this report is available upon request@ https://www.futuremarketinsights.com/reports/sample/rep-gb-5078
Forensic Investigation to Remain Dominant Modality of Human Identification
On the basis of modality, forensic investigation will retain its dominance in the global human identification market, with revenues estimated to surpass US$ 450 Mn by 2022-end. Paternity testing will also remain a lucrative modality of human identification, and will account for nearly one-fourth share of the market throughout the forecast period. In contrast, anthropology is expected to be the least lucrative modality of human identification.
Based on end-users, research institutes will witness the fastest expansion in the global human identification market through 2022. Contract research organizations, on the other hand, will witness a relatively slower expansion than other end-users in the market through 2022. In addition, forensic laboratories and hospitals are projected to account for the largest revenue shares of the market during the forecast period.
Increased Government Spending on Forensic Science to Drive the Market Growth in North America
Currently, North America dominates the global market for human identification, and the trend is anticipated to continue over the forecast period. Growth of the market in North America can be highly attributed to increased government spending on forensic science, coupled with robust expansion of DNA database in the U.S. North America will witness the fastest expansion in the global human identification market through 2022. Asia-Pacific excluding Japan (APEJ) will also register a significant CAGR in the market. This is mainly because of various government initiatives for increasing awareness about forensic technologies and their implementation in DNA analysis. China and India are expected to be the fastest growing markets for human identification in APEJ.
By technique, dominance of polymerase chain reaction in the global human identification market is expected to remain unchallenged over the forecast period, followed by capillary electrophoresis. Next generation sequencing technique will register an impressive expansion through 2022, as it has the potential of being the ultimate platform of genotyping for human identification. In addition, rapid DNA analysis will continue to register the highest CAGR in the market through 2022.
Company Profiles
Key players identified by FMI’s report on the global human identification market include Promega Corporation, New England Biolabs Inc., LGC Limited, Roche Holding AG, IntegenX Inc., Flinn Scientific, Inc., QIAGEN N.V., Bio-Rad Laboratories Inc., Merck & Co. Inc., General Electric Company, and Thermo Fischer Scientific, Inc.