Forensic Technologies: New and Growing Markets
The global market for forensics technology is estimated to increase from $20.9 billion in 2022 to reach $42.1 billion by 2027, at a compound annual growth rate (CAGR) of 15.0% from 2022 through 2027.
- 27 data tables and 19 additional tables
- An overview of global markets for forensic technologies
- Analyses of global market trends, with data from 2021, 2022, estimates for 2023 and projections of CAGRs through 2027
- Coverage of history and governmental oversight of forensic science, and discussion on increasing crime rates and forensic backlogs and need of secured forensic databases
- Insights into current technologies underlying the market as well as the effects new technologies will have on the market
- Information on recent mergers, acquisitions, collaborations, agreements, partnerships, product launches, and expansions in the market and a relevant patent analysis
- Profiles of the major companies, including Abbott Diagnostics, Eurofins, Nikon Corp., Hoffmann-La Roche Ltd., Thermo Fisher Scientific and Zentek Forensics Ltd.
The current report offers a detailed picture of the forensic technology market.
This report highlights the current and future market potential for forensic technology and provides a detailed analysis of the competitive environment, regulatory scenario, drivers, restraints, opportunities, and trends in the market. The report also covers market projections through 2027 and key market players.
This report discusses forensic technology and its various resources. It covers the overall forensic technology market, including forensic technology products. In addition, the report also analyzes various products in forensic technology, including biometric analysis, firearm identification, DNA profiling, and digital forensics. Furthermore, a complete regional analysis of the market is also presented in the report.
The market has been segmented based on geography into North America, Europe, Asia-Pacific, and the Rest of the World (including Latin America, the Middle East, and Africa). Detailed analyses of major countries (the U.S., Canada, Germany, the UK, France, Spain, Italy, Japan, China, and India) are covered in regional segments. For market estimates, data has been provided for 2021 as the base year, with forecasts for 2022 through 2027. Estimated values are based on revenue from forensic technology companies as total revenues. Projected and forecasted revenue values are in constant U.S. dollars that have not been adjusted for inflation.
Frequently Asked Questions (FAQs)
- Government initiatives for forensic technology
- Increasing crime rates
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
|Base year considered||2021|
|Forecast period considered||2022-2027|
|Base year market size||$18.3 billion|
|Market size forecast||$42.1 billion|
|Growth rate||CAGR of 15.0% for the forecast period of 2022-2027|
|Units considered||$ Millions|
|Segments covered||product, location, application, and region|
|Regions covered||North America, Europe, Asia-Pacific, and Rest of the World|
|Countries covered||Mexico, Canada, France, Germany, Italy, United Kingdom, Spain, China, Japan, and India|
|Key Market Drivers||
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
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.