Forensic Technologies Market Size to Hit USD 90.8 Billion by 2030

According to Nova one advisor, the global Forensic Technologies market size is expected to hit around USD 90.8 billion by 2030 from valued at USD 52.28 billion in 2021 and growing at a CAGR of 15.2% from 2022 to 2030. Increase in the number of crimes across the world is projected to boost the growth of the global forensic technologies market during the forecast period. Rise in brutal wrongdoings across the globe is a major driver of the market.

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Report Scope of the Forensic Technologies Market

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Technological Advancements in Forensics

• Technological advancements in forensics have gained considerable importance in the past few years. Forensic technology consolidates distinctive fields of science. Law enforcement agencies have more devices and assets available, making it harder for lawbreakers to escape with their activities. Therefore, interest in crime scene investigation innovation has increased in the past few years.
• Mergers, coordinated efforts, and understandings are business strategies adopted by various companies to develop products and distribution channels. This fuels the growth of the global market. Additionally, increase in crime rates across the world and rise in demand for chemical analysis are anticipated to drive the global forensic technologies market during the forecast period.

Strengthening Crime Laboratories and Collaboration between Industry and University to Propel Global Market

• Scientists and technicians in crime laboratories across the U.S. are working on developing technologies that could be effectively utilized to bring criminals to justice and prevent the innocent from imprisonment
• Various institutions are being set up to boost research related to forensic science. For instance, the National Institute of Justice (NIJ) invested US$ 127 Mn from 2009 to 2014 in R&D. In 2015, the National Institute of Justice (NIJ) entered into a partnership with the National Science Foundation (NSF) and the National Institute of Standards and Technology (NIST) to develop novel technologies in forensic science.
• In 2014, the National Institute of Justice and National Science Foundation started an Industry/University Cooperative Research Center to improve university and industry collaboration in forensic science R&D and education

Sophisticated Healthcare Infrastructure in North America Reflects in Market Growth

Stakeholders in the forensic technologies market should draw findings from mature markets such as the U.S. in North America to increase R&D in applications of scientific methods and techniques for investigation of crimes. Technicians and scientists in crime laboratories across the U.S. are working on developing technologies that could be effectively utilized to prevent the innocent from imprisonment and bring criminals to justice.

The growing acceptance of forensics by law enforcement agencies and private companies in various industries, including healthcare, has increased in North America. This explains why the region holds a dominant share of the market and is likely to retain its position even during the forecast period. The development of assistive and sophisticated healthcare infrastructure has led to improvements in the efficiency of forensic studies. This is expected to fuel the expansion of the market in North America.

Adoption of Biosafety Practices by Investigators amid COVID-19 Pandemic

Airborne transmission and long-lasting persistence of coronavirus particles pose serious threat for law enforcement agencies and forensic investigators. The COVID-19 pandemic has caused many negative impacts on forensic investigation at the scene of a crime, thus affecting outcomes for laboratory examination, sample collection, transport, and storage of evidences.

Stakeholders in the forensic technologies market are adopting the best biosafety practices in the forensic science community, which includes law enforcement agencies. Such practices will help in balancing to conduct investigations and protection against novel viral infections by following the safety guidelines formulated by the concerned central and state governments.

Growing Use of Laboratory Information Management Software Benefits Technicians

In terms of location, participants in the global forensic technologies market are targeting their activities in portable forensics and laboratory forensics. The laboratory forensics segment accounted for a considerable share of the global forensic technologies market in 2021. This can be attributed to effective and efficient results in laboratory settings, as samples can be analyzed without any contamination since most of the pieces of evidence at a crime scene tend to be contaminated.

Technological advancements such as the adoption of laboratory information management software (LIMS) to perform multiple tasks at a time in laboratory settings is expected to augment market growth.

Company Mergers Enable Innovations in Crime Scene Investigation

New developments in forensics have gained considerable importance over the past few years. Forensic technology consolidates distinctive fields of science. Law enforcement agencies are now investing in devices and assets, making it challenging for lawbreakers to escape with their criminal activities. This indicates why the forensic technologies market is slated to register a robust CAGR during the forecast period. Therefore, interest in crime scene investigation innovations has increased in the past decade.

Mergers, coordinated efforts, and understandings are strategies adopted by various companies in the forensic technologies market to develop products and explore new distribution channels. This fuels the growth of the global market. Furthermore, increase in crime rates across the world and rise in demand for chemical analysis are anticipated to drive the global forensic technologies market during the forecast period.

Forensic Technologies Market: Key Developments

• Key players in the global forensic technologies market are expanding their market position by adopting various strategies such as mergers & acquisitions and research collaborations with other companies to launch innovative products and consolidate their market positions across the world. A few expansion strategies adopted by players operating in the global forensic technologies market are:
• In March 2017, Agilent Technologies launched a research-grade Triple Quadruple LC/MS System. The product launch expanded the company’s offerings and venture into various research applications including forensic toxicology, clinical research, environmental testing, and peptide quantitation.
• The report on the global forensic technologies market discusses individual strategies, followed by company profiles of manufacturers of forensic technologies market products. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global forensic technologies market.

Some of the prominent players in the Forensic Technologies Market include:

• AB Sciex (Danaher Corporation)
• Eurofins Medigenomix GmbH
• Forensics Consulting Solutions
• Forensic Pathways
• GE Healthcare Lifescience
• LGC Limited
• Neogen Corporation
• NMS Labs
• Pyramidal Technologies Ltd.
• SPEX Forensics
• Thermo Fisher Scientific, Inc.
• among others

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Forensic Technologies market

• Service
  • DNA Profiling
    • PCR
    • Y- STR
    • RFLP
    • Mitochondrial DNA
    • Others
  • Chemical Analysis
    • Mass Spectrometry
    • Chromatography
    • Spectroscopy
    • Others
  • Biometric/Fingerprint Analysis
  • Firearm Analysis
  • Others (Computer Forensics, Network Forensics, Cloud Forensics, etc.)
• Location
  • Laboratory Forensics (LIMS)
  • Portable Forensics (FaaS)

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Forensic Technologies industry analysis from 2022 to 2030 to identify the prevailing Forensic Technologies industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Forensic Technologies industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Forensic Technologies industry trends, key players, market segments, application areas, and market growth strategies.

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