According to IMARC Group’s latest report, titled “Forensic Technologies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global forensic technologies market reached a value of US$ 17.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 34.3 Billion by 2027, exhibiting a CAGR of 12.8% during 2022-2027.
Forensic technology refers to the application of scientific techniques and systems for investigating, searching, retrieving, and analyzing evidence from a crime scene. It enables investigators to gather information and evidence to support investigations, litigations, regulatory compliances, and financial crime cases. It involves various procedures and equipment, including data examination and charting tools, record management systems, closed circuit televisions, license plate recognition systems, and deoxyribonucleic acid (DNA) confirmation equipment. The primary advantage of forensic technology includes reliable and accurate reconstruction of past events through gathered data, which is why it is largely used to investigate homicide, theft, and terrorist attacks.
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Forensic Technologies Market Trends:
The rising sophistication of crimes committed across the banking, healthcare, and telecommunication industries has surged the demand for advanced forensic technologies, which represents one of the primary factors propelling the market growth. Additionally, the escalating cases of cybercrimes have led to an increase in demand for digital forensic technologies, which are utilized to respond to procurement fraud, white-collar crimes, and intellectual property infringement, further accelerating the market growth. Besides this, the rapid development in DNA testing technology and burgeoning government funding in forensic research and development (R&D) initiatives are positively impacting the market growth.
Competitive Landscape with Key Players:
The report has also analyzed the competitive landscape of the market with some of the key players.
- Agilent Technologies
- GE Healthcare
- Thermo Fisher Scientific
- Bio-Rad Laboratories
- Shimadzu Corp
- Forensic Fluids Laboratories
- NMS Labs
- Eurofins Medigenomix GmbH
- Forensic Pathways
- Pyramidal Technologies Ltd
Key Market Segmentation:
The report has categorized the market based on product, service, technique and application.
Market Breakup by Product:
- Digital & Computer Forensics
- Ballistic Forensics
- DNA Testing
Market Breakup by Service:
- Laboratory Forensics
- DNA Testing
- Drug Testing
- Forensic Consulting
Market Breakup by Technique:
- Polymerase Chain Reaction (PCR)
- Capillary Electrophoresis
- Next-Generation Sequencing
- Rapid DNA Analysis
- Automated Liquid Handling Technology
Market Breakup by Application:
- Biodefense & Bio-Surveillance
- Judicial and Law Enforcement
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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