Forensic Technology Market Size to Reach USD 52.04 Billion in 2027
Emergen Research has published its latest report titled “Forensic Technology Market By Type (Polymerase Chain Reaction, Capillary Electrophoresis, Next Generation Sequencing, Rapid DNA Analysis, Automated Liquid Handling Technology, Microarrays), By Application (Healthcare, Law Enforcement Agencies, Banking & Financial Institutions, Telecom) and By Regions Forecasts to 2027”
Download sample @ https://www.emergenresearch.com/request-sample/310
According to Emergen Research, the global forensic technology market size was USD 19.72 billion in 2019 and is expected to reach USD 52.04 Billion in 2027 and register a revenue CAGR of 12.9% during the forecast period, 2020–2027.
Market Size — USD 19.72 billion in 2019, Market Growth — at a CAGR of 12.9%, Market Trends — Increasing use of advanced technologies to solve crimes
Market Dynamics:
Forensic science plays an important role in criminal justice. Forensic scientists study and analyze evidence and data in criminal investigations in order to achieve objective results that can aid in the investigation and prosecution of criminals, or exonerate an innocent person. This helps law enforcement officials in solving crimes and ensuring public health and safety. This has been boosting demand for forensic technologies and is expected to drive market revenue growth during the forecast period. Further, in different domains of forensic science, various techniques are developed to conduct investigations and analyze evidence. Among them include: DNA fingerprinting, scanning electron microscopy, facial reconstruction, alternative light photography, and LA-ICP-MS. These advancements in technology reduce overall costs and improve accuracy of tests. From just a few skin cells, the polymerase chain reaction (PCR) can produce millions of copies of DNA. These DNA procedures can help in the identification of criminals as well as their victims. These technological advancements in forensic science and increasing the use of DNA technology are some other factors expected to drive market revenue growth over the forecast period.
However, high cost of forensic technologies, complexity in user interface, inaccuracy of results and lack of forensic science technicians are factors that can hamper market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
· Social distancing and restrictions severely disrupted businesses and operations
· Lockdowns caused disruptions in transportation and logistics
· Impacted manufacturing activities and mining operations globally
· Took a toll on economy of various countries
· Caused sudden and drastic downturn in economic activity
· Disrupted agriculture, fisheries, dairy, and other sectors
· Caused loss of employment and financial crisis
· Supply impacts were further compounded owing to reduced disposable income
· Emergence of variants continue to cause concerns and impact normal routines
Polymerase Chain Reaction (PCR) Segment Revenue to Expand at a Rapid CAGR:
Polymerase Chain Reaction (PCR) segment is expected to register a rapid revenue CAGR over the forecast period as it is widely used in genetic fingerprinting and in the field of molecular biology for the detection of mutations. The polymerase chain reaction (PCR) is a commonly used technology to make millions of copies of a specific DNA sample, allowing researchers to take a tiny sample of DNA and amplify it to a large amount to investigate in depth.
Increasing research activities on DNA-related testing, advancements in forensic technologies, and rising crime rates are some key factors expected to drive market growth
Healthcare Segment to Register Significant Revenue Growth:
Healthcare segment is expected to register significant revenue growth over the forecast period owing to government initiatives to improve healthcare infrastructure, advancements in DNA testing, increase in research and development activities in alternative light photography, automated fingerprint identification and other forensic technologies.
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to increasing criminal activities, resulting in adoption of forensics by law enforcement agencies and private companies among various sectors including healthcare. Further, technological innovations in healthcare industry has led to advancements in forensic studies and related DNA identification, which is further expected to boost market growth in the region.
Download sample @ https://www.emergenresearch.com/request-sample/310
Major Companies in the Market Include:
· Cytiva
· 3M
· Eurofins Scientific
· Agilent Technologies
· NMS Lab
· LGC Group
· LGC Limited
· Thermo Fisher Scientific
· Micro Systemation
For the purpose of this report, Emergen Research has segmented the forensic technology market on the basis of type, application, and region:
Type Outlook (Revenue, USD Billion; 2017–2027)
- Polymerase Chain Reaction (PCR)
- Capillary Electrophoresis
- Next Generation Sequencing
- Rapid DNA Analysis
- Automated Liquid Handling Technology
- Microarrays Arms
Application Outlook (Revenue, USD Billion; 2017–2027)
· Healthcare
· Law enforcement agencies
· Banking and financial institutions
· Telecom
Regional Outlook (Revenue, USD Billion; 2017–2027)
· North America
o U.S.
o Canada
o Mexico
· Europe
o Germany
o France
o U.K.
o Italy
o Spain
o BENELUX
o Rest of Europe
· Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
· Latin America
o Brazil
o Rest of LATAM
· Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Turkey
o Rest of MEA
Check Out our other Publications:
Recurrent Atrial Fibrillation Market
Molecular Quality Controls Market
Wireless Fidelity Chipset Market
Temperature Sensing Solution Market
