Worldwide Forensic Technologies Market 2022 | Stunning Growth at CAGR of 10.9%, to reach a value of USD 27,705.23 Million by 2028
WASHINGTON, April 05, 2022 (GLOBE NEWSWIRE) — Vantage Market Research published a report, titled, “Forensic Technologies Market Size, Share & Trends Analysis Report by Product (Digital & Computer Forensics, Ballistic Forensics, DNA Testing, Biometrics), by Service (Laboratory Forensics, DNA Testing, Drug Testing, Biometrics), by Technique (Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Next-Generation Sequencing, Rapid DNA Analysis), by Application (Pharmacogenetics, Biodefense & Bio-Surveillance, Judicial and Law Enforcement, Others), by Region (North America, Asia Pacific, Europe, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)“. According to the report, the global Forensic Technologies industry generated USD 14,892.72 Million in 2021, and is anticipated to generate USD 27,705.23 Million by 2028, witnessing a CAGR of 10.9% from 2022 to 2028.
The Forensic Technologies Market is expected to witness significant growth due to its several factors such as interpretation, identification, and assessment of important evidence collected from the site of crime. Forensic Technologies Market science has perceived tremendous progress in its technologies which has increased its demand and application in the market during the forecast period. Forensic Technologies Market technology offers reliable and effective results which are increasing its demand for resolving many disputes which is expected to drive the growth of the Forensic Technologies Market in upcoming years. The growth of the Forensic Technologies Market is primarily attributed to increasing crime rates and finesse in crime which is projected to boost the demand for the Forensic Technologies Market to solve such cases. Moreover, the rising importance of DNA testing is greatly contributing to the development of the Forensic Technologies Market during the forecast period. The terrifyingly increasing crime rates are also a prime factor driving the growth of the Forensic Technologies Market during the forecast period. Furthermore, the rising incidences of cybercrimes have provided a boost to the digital Forensic Technologies Market that are used for retorting the incidences for procurement of fraud, IP infringement, and white-collar crimes during the forecast period. Moreover, cybercrime experts use technology-based Forensic Technologies Market for data preservation, data recovery and analysis, and document control. In addition, the adoption of several government policies and the funds to support Forensic Technologies Market research and development is projected to have a positive impact on the growth of the Forensic Technologies Market in the upcoming years. The increasing backlog of cases demanding Forensic Technologies Market aid and the cases outsourcing resulting by the government are the factors expected to provide growth opportunities for the Forensic Technologies Market during the forecast period. Besides, the regulatory restrictions for these technologies are the factor limiting the growth of the Forensic Technologies Market during the forecast period.
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Key Insights & Findings from the Report:
According to our primary respondents’ research, the Forensic Technologies market is predicted to grow at a CAGR of roughly 10.9% during the forecast period.
The Forensic Technologies market was estimated to be worth roughly USD 14,892.72 Million in 2021 and is expected to reach USD 27,705.23 Million by 2028; based on primary research.
On the basis of region, North America is projected to dominate the worldwide Forensic Technologies market.
List of Prominent Players in the Forensic Technologies Market:
Thermo Fisher Scientific
Forensic Fluids Laboratories
Eurofins Medigenomix GmbH
Forensic Pathways and Pyramidal Technologies Ltd.
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Forensic Technologies Market is Segmented as Follows:
Polymerase Chain Reaction (PCR)
Rapid DNA Analysis
Automated Liquid Handling Technology
Middle East & Africa
The increased crime rates and finesse in crime are the major factors driving the growth of the Forensic Technologies Market during the forecast period. The rise in the funds and government initiative for the growth of Forensic Technologies Market technology is expected to fuel the growth of the market in upcoming years. The effective and reliable result of the crime incidence is also an important factor driving the growth of the Forensic Technologies Market in years to come. Moreover, the continuous research and development in Forensic Technologies Market science are projected to drive the Forensic Technologies Market technology market growth during the forecast period.
The government restrictions for this technology are the major factor limiting the Forensic Technologies Market technology market growth during the forecast period.
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North America is expected to grow at the highest CAGR during the forecast period. The growth of North America is mainly attributed to rising in the adoption of new technologies and the rapidly increasing violent crime in the developed countries of North America such as the United States and Canada. According to the statistics provided by the FBI murder rates in the United States analyzed are 10.8% in 2020. Furthermore, the government of various regions/countries are making various laws and strict restrictions for this technology which is limiting the growth of the market but the effective results of Forensic Technologies Market technology are driving the market growth in North America. Experts in North America are continuously working on the research and development of Forensic Technologies Market science which is projected to increase the demand for Forensic Technologies Market in the years to come.
The report on the Forensic Technologies Market highlights:
Assessment of the market
COVID Impact Analysis
Historic Data, Estimates, and Forecast
Global and Regional Dynamics
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Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Forensic Technologies Market?
How will the Forensic Technologies Market change in the upcoming six years?
Which application and product will take a lion’s share of the Forensic Technologies Market?
What is the Forensic Technologies market drivers and restrictions?
What will be the CAGR and size of the Forensic Technologies Market throughout the forecast period?
This market titled “Forensic Technologies Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:
Market Size Provided for Years
° Digital & Computer Forensics
° Ballistic Forensics
° DNA Testing
° Laboratory Forensics
° DNA Testing
° Drug Testing
° Forensic Consulting
° Polymerase Chain Reaction (PCR)
° Capillary Electrophoresis
° Next-Generation Sequencing
° Rapid DNA Analysis
° Automated Liquid Handling Technology
° Biodefense & Bio-Surveillance
° Judicial and Law Enforcement
Region & Counties Covered
• North America
° Rest Of Europe
• Asia Pacific
° South Korea
° South East Asia
° Rest Of Asia Pacific
• Latin America
° Rest Of Latin America
• Middle East & Africa
° GCC Countries
° South Africa
° Rest Of Middle East & Africa
• Agilent Technologies
• GE Healthcare
• Thermo Fisher Scientific
• Bio-Rad Laboratories
• Shimadzu Corp
• Net Bio
• Forensic Fluids Laboratories
• NMS Labs
• Eurofins Medigenomix GmbH
• Forensic Pathways and Pyramidal Technologies Ltd.
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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