About Forensic Technologies and Services
Forensic technology and service are used for identification, interpretation and assessment of substantial evidence gathered from the site of the crime. For instance, enhanced fingerprint retrieval from metal objects such as gun cartridges and various metal ammunition, the role of chemistry to identify the chemical and biological weapons, and integration of advanced technologies which can improve the detection of various drugs and explosives materials at security checkpoints. These technological advancements have helped the market with reduced costs in practical applications, which enhances the affordability of forensic applications in various fields and thus, increases the demand for the very market..
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
CAGR | 9.3% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Forensic Technologies and Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Agilent Technologies (United States), Promega (United States), Thermo Fisher Scientific (United States), QIAGEN (Netherlands), Eurofins (Luxembourg), LGC Forensics (United Kingdom), NMS Labs (United States) and MSAB (Sweden) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Forensic Technologies and Services market by Type (Automated Liquid Handling Technology, Capillary Electrophoresis, Polymerase Chain Reaction (PCR), Next Generation Sequencing, Rapid DNA Analysis, Microarrays and Others), Application (Pharmacogenetics, Biodefense & Biosurveillance, Judicial/Law Enforcement and Others) and Region.
On the basis of geography, the market of Forensic Technologies and Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Service Type, the sub-segment i.e. DNA Profiling will boost the Forensic Technologies and Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Location Based, the sub-segment i.e. Laboratory Forensic Technology will boost the Forensic Technologies and Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing technological advancement in the forensic technologies
Market Growth Drivers:
Growing penetration rate of cybercrime on a global scale, Increasing research and development activities in the DNA sequencing area coupled with automated fingerprint identification and facial reconstruction and Surging investment by government and numerous supportive reimbursement policies
Challenges:
High cost of forensic technologies and The administrative limitations in wide-ranging industries
Restraints:
Lack of highly skilled operator in emerging economies
Opportunities:
Growing cases that require support from advanced forensic technology is creating lucrative opportunities for growth in the upcoming years.
Market Leaders and their expansionary development strategies
In September 2023, LeadsOnline LLC announced it has acquired Forensic Technology Inc., a leader in 3-D imagery and automated ballistic identification, from Ultra Electronics. With this transaction, two leading technology companies join forces to provide global law enforcement agencies with enhanced data and tools to advance their cases faster – from thefts to homicides and, particularly, gun crimes.
In August 2023, CBF Forensics, a northwest Indiana forensic and education startup, has launched two new products, virtual reality (VR) programming for forensic crime scene training and a system to quantify the amount of THC in manufactured CBD and hemp products.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.