What Has Been the Progress and Growth of the Forensic Technology Market in Recent Years?
The forensic technology market has seen considerable growth due to a variety of factors.
• The forensic technology market has grown rapidly in recent years. It is projected to rise from $20.87 billion in 2024 to $23.48 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.6%.
This growth is attributed to enhanced forensic analysis capabilities, an increase in crime rates, greater demand for DNA testing, improvements in DNA analysis accuracy, and the broader adoption of forensic services by private companies.
How Does the Forecast Look for the Forensic Technology Market?
The forensic technology market is expected to maintain its strong growth trajectory in upcoming years.
• The forensic technology market is expected to grow rapidly, reaching $37.36 billion by 2029 at a CAGR of 12.3%.
This growth is driven by an increase in violent crimes, investment in modernizing forensic capabilities, and the rise in cybercrime. Key trends include technological advancements, biometric solutions, AI-powered forensic tools, strategic partnerships, and new product launches.
What Are The Leading Drivers Of Growth In The Forensic Technology Market?
The increasing crime rates are expected to propel the growth of the forensic technology market. Rising crime rates, driven by factors such as economic inequality and rapid urbanization, have prompted the need for more advanced forensic technology to assist law enforcement. For instance, in October 2023, the Office for National Statistics reported a 4% rise in crime in England and Wales between 2022 and 2023. Therefore, rising crime rates are contributing to the growth of the forensic technology market.
How Are The Segments Defined Within The Global Forensic Technology Market?
The forensic technology market covered in this report is segmented –
1) By Type: Next Generation Sequencing (NGS), Capillary Electrophoresis, Polymerase Chain Reaction (PCR), Microarrays, Rapid DNA Analysis, Automated Liquid Handling Technology, Other Types
2) By Service: DNA Profiling, Chemical Analysis, Biometric Analysis, Firearms Identification, Other Services
3) By Location: Laboratory Forensics Technology, Portable Forensics Technology
4) By Application: Pharmacogenetics, Biodefense And Biosurveillance, Judicial Or Law Enforcement, Other Applications
Subsegments:
1) By Next Generation Sequencing (NGS): Whole Genome Sequencing, Targeted Sequencing, RNA Sequencing
2) By Capillary Electrophoresis: DNA Fragment Analysis, STR Analysis (Short Tandem Repeat), Genetic Fingerprinting
3) By Polymerase Chain Reaction (PCR): Real-Time PCR (qPCR), Digital PCR (dPCR), Multiplex PCR
4) By Microarrays: DNA Microarrays, RNA Microarrays, SNP Microarrays (Single Nucleotide Polymorphisms)
5) By Rapid DNA Analysis: Portable DNA Analysis Systems, Rapid DNA Test Kits
6) By Automated Liquid Handling Technology: Automated Pipetting Systems, Liquid Handling Robotics, High-Throughput Screening (HTS)
8) By Other Types: Mass Spectrometry, Forensic Imaging Technologies, Luminol-Based Detection Systems, Biosensors And Biochips
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What Trends Are Shaping The Forensic Technology Market?
Companies in the forensic technology market are introducing AI-powered tools to improve forensic investigation accuracy and efficiency. For example, in May 2024, Alvarez and Marsal, a U.S.-based firm, launched ChatView, an AI-powered tool for forensic investigations. It transcribes and translates voice memos and video files, making it easier for detectives and lawyers to analyze vast amounts of chat data from various platforms, improving data handling, security, and efficiency.
Who Are the Key Players In The Forensic Technology Market?
Major companies operating in the forensic technology market are:
• Hitachi Corporation
• F. Hoffmann-La Roche AG
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Danaher Corporation
• Siemens Healthineers AG
• Thales SA
• GE HealthCare Technologies Inc.
• Agilent Technologies Inc.
• Nikon Corporation
• Shimadzu Scientific Instruments
• IDEMIA Group
• Bio-Rad Laboratories Inc.
• Bruker Corporation
• QIAGEN N.V.
• HORIBA Ltd.
• Carl Zeiss AG
• FLIR Systems Inc.
• Ultra Electronics Holdings Plc
• LGC Forensics Ltd
• AB SCIEX Pte Ltd
• Leica Microsystems GmbH
• Neogen Corporation
• Promega Corporation
• Pacific Biosciences of California Inc.
• Bode Cellmark Forensics Inc.
• Sirchie
• Morpho
What Is The Most Dominant Region In The Forensic Technology Market?
North America was the largest region in the forensic technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the forensic technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
