Forensic Technologies Market to Surpass 41.92 Billion by 2030 Drives Due to the Increasing Investments and Funding from Private and Public Organizations
SkyQuest projects that the forensic technologies market will attain a USD 41.92 billion value by 2030, with a CAGR of 12.28% over the forecast period (2023-2030). Forensic technology encompasses a range of scientific techniques used to evaluate, locate, investigate, and collect evidence from crime scenes. To conduct thorough forensic investigations, various equipment and methods are employed. DNA confirmation equipment is crucial in analyzing DNA samples, identifying suspects and linking them to the crime scene.
Westford, USA, July 03, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the forensic technologies market is experiencing significant growth, primarily driven by increasing investments and funding from private and public organizations. These investments reflect the recognition of the importance of forensic research in enhancing criminal justice systems and ensuring accurate and reliable investigations. An illustrative example is the announcement made in January 2022 by the National Institute of Justice, which allocated a substantial amount of USD 4.5 million in funding for the forensic technology center of excellence.
Browse in-depth TOC on the “Forensic Technologies Market”
- Pages – 242
- Tables – 153
- Figures –78
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Forensic technologies market encompasses a scientific system that involves investigating, searching, retrieving, and analyzing evidence gathered from crime scenes. This technology is crucial in collecting information to address various investigative, litigation, regulatory, and financial crime requirements. A wide range of procedures and equipment are utilized in forensic investigations.
Prominent Players in Forensic Technologies Market
- GE Healthcare
- Thermo Fisher Scientific Inc.
- Agilent Technologies Inc.
- LGC Limited
- Danaher Corporation
- Eurofins Scientific SE
- Forensic Technology WAI Inc.
- NMS Labs Inc.
- SCIEX
- Bruker Corporation
- Bode Technology
- Morpho (Safran)
- IDEMIA Group
- Qiagen N.V.
- NicheVision Forensics Co.
- Foster + Freeman Ltd.
- FLIR Systems Inc.
- Sirchie
- Firearm and Toolmark Examination Unit
- Forensic Pathology Services
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Capillary Electrophoresis Segment is Expected to Grow the Market Due to its Numerous Benefits Offered by the CE Technique
The capillary electrophoresis segment has emerged as the largest contributor, accounting for 32.6% in 2022. This dominance can be attributed to the numerous benefits of the CE technique. CE provides several advantages, including a reduced risk of cross-contamination due to the small sample volumes used, enabling highly accurate and reliable analysis. The method also offers high-speed separation, allowing for rapid analysis and increased productivity.
The market in North America emerged as the dominant market for forensic technologies, capturing the highest market share of 35.21%. This market leadership can be attributed to the growing incidence of criminal cases and the subsequent increase in forensic analyses in the region.
Next-Generation Sequencing Segment is Expected to Dominate the Market Due to the Advantages Offered by NGS Technology
The next-generation sequencing segment is anticipated to exhibit the highest CAGR of 14.7% between 2023 and 2030. This remarkable growth can be attributed to NGS technology’s significant advancements and advantages. NGS has revolutionized various applications in forensic science, particularly in paternity testing and human identification from degraded biological samples.
Regional markets in the Asia Pacific are predicted to exhibit the fastest growth rate during the forecast period, with a projected CAGR of 11.5%. This rapid growth can be attributed to the increasing level of awareness in the region regarding various forensic technologies and their applications.
A comprehensive analysis of the major players in the forensic technologies market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Forensic Technologies Market
- Governor Lamont recently announced that Connecticut would receive a grant to develop a unified state-wide forensic management interface. This initiative aims to facilitate the process of determining how guns were utilized in crimes. The Connecticut Forensic Science Laboratory will be able to establish the Connecticut Crime Gun Intelligence Centre, enhancing the state’s ability to investigate and analyze firearms-related incidents, with the support of a federal grant.
- DriveSavers, a prominent global player in data recovery, recently unveiled a special offer for individuals residing in Florida, North Carolina, South Carolina, and Georgia. Those who have experienced data loss due to Hurricane Ian and subsequent floods will receive a $1,000 discount on every data recovery service the company provides. This gesture demonstrates DriveSavers’ commitment to assisting individuals in recovering their crucial data during natural disasters.
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Key Questions Answered in Forensic Technologies Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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