Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Global Forensic Technologies Market Report by Product, Service, Technique, Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
A comprehensive analysis of the global forensic technologies market has projected substantial growth between 2023 and 2032. Industry-driven research indicates the market size, valued at US$ 21.4 Billion in 2023, is expected to surge to US$ 51.6 Billion by 2032 with a CAGR of 10.27% during the forecast period. The high demand for forensic technologies is fueled by an ever-increasing crime rate, alongside more sophisticated and intricate criminal activities.
Additionally, the escalation of cybercrimes worldwide necessitates the advancement of digital forensic technologies, including data preservation and analysis tools essential for addressing procurement fraud and intellectual property infringements. The industry benefits from continuous technological enhancements, such as alternative light photography, which is vital in assessing skin damage, and other innovative practices including facial reconstruction and drug testing. Of particular note is the acceleration in DNA testing technology advancements, celebrated for their precision and reliability.
Government Support and Industry Growth
The market is positively influenced by supportive government policies, and a commitment to funding forensic R&D, catalyzing the adoption of cutting-edge techniques like Polymerase Chain Reaction (PCR), Next-Generation Sequencing, Rapid DNA Analysis, and Automated Liquid Handling Technology.
Key Market Segmentation
The market analysis outlines detailed segmentation based on product, service, technique, and application—shedding light on trends and forecasting within each sub-segment. Digital & computer forensics, ballistic forensics, and DNA testing emerge as principal areas within the product segment. Services such as laboratory forensics encompass a wide array of testing, including drug and DNA tests, whereas techniques like capillary electrophoresis and microarrays offer vital investigative tools. Applications span across pharmacogenetics, biodefense, and judicial/law enforcement, demonstrating the market's vast implication and utility.
Regional and Competitive Dynamics
With a global perspective, the report provides insights into key regional markets, including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The competitive landscape is also examined, highlighting leading entities within the industry that are pushing the boundaries of innovation and service delivery. The report is an invaluable resource for those within and connected to the forensic technologies sector, from investors to business strategists, offering a comprehensive assessment of the industry's economic drivers, challenges, competitiveness, and overall market dynamics.
Future Outlook
The future of the forensic technologies market shows robust potential, with promising advancements and a fortified industry structure poised for exponential growth. This analysis serves to guide and inform stakeholders about the trajectory and strategic positioning within this thriving industry sector.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 138 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $21.4 Billion |
| Forecasted Market Value (USD) by 2032 | $51.6 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
Companies Featured
- Agilent Technologies
- GE Healthcare
- LGC
- Promega
- IDEMIA
- Canon
- Thermo Fisher Scientific
- Bio-Rad Laboratories
- Shimadzu Corp
- NetBio
- SCIEX
- Forensic Fluids Laboratories
- NMS Labs
- Eurofins Medigenomix GmbH
- Forensic Pathways
- Pyramidal Technologies Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/x14nk3
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