Forensic Technologies: New and Growing Markets
The major U.S. forensic products and services market reached nearly $12.7 billion in 2016. This market is expected to grow to nearly $13.3 billion in 2017 and $19.2 billion by 2022 at a compound annual growth (CAGR) of 7.7% for the period 2017 to 2022.
- An overview of new and growing markets for forensic technologies
- Analyses of market trends in forensic technologies, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Information on all areas of the forensics market, including identification of current and future technologies, products, market segments and end markets, and regulatory agencies
- Information on major patents filed
- Information on participating companies in light of technological strengths and weaknesses, relative market shares, marketing strengths, and innovative marketing practices
In preparing this report, an overall study of the crime laboratory segment of the U.S. forensic science market was undertaken. Related areas provided key information; as newer areas such as computer forensics make up a growing share of the total forensics business. All areas of the forensics market are addressed including identification of current and future technologies, products, market segments/end markets, and government and regulatory agencies. Participating companies are discussed in light of technological strengths and weaknesses, relative market share, marketing strengths and innovative marketing practices.
Kevin Gainer, research analyst, holds both B.A. and M.A. degrees in economic analysis and forecasting, and has more than 25 years of economic and market research experience. He is the author of six published books and dozens of technical papers, analyses and studies published in conference proceedings, including many unpublished proprietary analyses within corporations. He has worked as a Research Editor and Project Analyst at BCC Research since 1985, and has authored numerous BCC technology market research reports and periodicals.
The major U.S. forensic products and services market reached $10.9 billion in 2012. This market is expected to grow to $11.2 billion in 2013 and nearly $16.3 billion in 2018, a compound annual growth CAGR of 7.8% for the period 2013 to 2018.
- An overall study of the U.S. forensic science market.
- Analyses of forensic technologies market trends, with data from 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018.
- Information on all areas of the forensics market including: identification of current and future technologies, products, market segments/end markets, and government and regulatory agencies.
- Information on participating companies in light of technological strengths and weaknesses, relative market share, marketing strengths and innovative marketing practices.
- Information on major patents filed.
BCC estimates that total sales of forensic products and services were nearly $10.1 billion in 2010 and that sales will grow at a 9.4% compound annual growth rate (CAGR) through 2016 to more than $17 billion.
- The U.S. market for forensic products and services increased from $9.5 billion in 2007 to an estimated $10.3 billion by the end of 2008. It should reach $17.5 billion by 2013, a com¬pound annual growth rate (CAGR) of 11%.
- DNA testing has become the definitive forensic technology. Other technologies such as blood group identification have become obsolete.
- Fingerprinting continues to move rapidly away from ink-based methods to biometric tech¬nologies such as electronic fingerprinting and electronic scanners.
The overall U.S. value of forensic products reached nearly $1.48 billion in 2004 and is projected to rise at an AAGR (average annual growth rate) of 14.3% to more than $3.29 billion in 2010.
DNA testing is expected to grow at a 15.9% AAGR, rising from $745.2 million to more than $1.75 billion in the period.
Fingerprinting/biometrics are forecasted to grow at a 13.8% AAGR, rising to some $1.38 billion from $637.7 million in 2004.
The majority of forensic testing is done in publicly funded laboratories. Only a few private consultant laboratories offer services to analyze forensic evidence in the U.S.