October 09, 2017
WELLESLEY, Mass. Oct. 09, 2017—The market for forensic technology and equipment continues to expand as the collection and evaluation of crime scene evidence remains extremely important in the United States’ legal system. According to the report Forensic Technologies: New and Growing Markets, BCC Research expects the total market for forensic technologies to reach $19.2 billion in 2022 from 12.7 billion in 2016 at a compound annual growth rate (CAGR) of 7.7%.
Computer forensics and forensics accounting will remain the largest sectors of this market; following in market size are DNA testing and fingerprinting/biometrics. Analytical instruments and supplies are predicted to have the lowest growth rate.
Although crime rates across the United States are dropping, the forensics market is paradoxically growing—attributed to technological advancements creating new market openings and new categories of crime. For example, the implication of data on computers has created new kinds of forensics, such as forensic accounting and computer forensics.
“Market demand within the forensic science industry is moving toward inexpensive, reliable and efficient products that are based on techniques accepted by the scientific community,” said Kevin Gainer, BCC Research analyst and author of the report. “A key objective in designing for forensic testing has been to develop accurate and fast, portable products for field use.”
The majority of instruments in forensics testing are used to provide chemical information about crime scene evidence. Tests performed on these instruments compare and identify substances. Of forensic tools, DNA testing is still the definitive form. New technologies and applications for the collection and analysis of DNA continue to contribute to a growing market, expected to increase at a 6.0% CAGR over the next five years.
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Companies included in this report: PerkinElmer, Agilent, Waters Corp., Bruker Instruments Inc., Spectris, J&W Scientific, Thermo Electron, Nartec and more than 40 others.
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Forensic Technologies: New and Growing Markets( SAS003F )
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