forensic technology market size, share, growth and forecast by 2025
DESCRIPTION
Global forensic technology market is expected to grow at a formidable CAGR of around 15% during the forecast period. The global forensic technology market is driven by the increasing R&D activities and supportive government policies. Furthermore, increasing crime rate is further anticipated to propel the market through 2025. The global forensic technology market is segmented based on product, technology, application, company and region. Based on application, the market can be categorized into law enforcements, enterprise, healthcare and others. The law enforcements segment is expected to dominate the market over the coming years. This can be ascribed to the consistent efforts by government authorities across the globe to create DNA databases. For instance, the DNA Identification Act 1994 in the U.S. provided the FBI authority to develop a national DNA database to assist in solving backlog criminal cases, which has resulted in significant upsurge in the adoption of forensics in enforcement of law.TRANSCRIPT
North America to Dominate Forensic Technology Market During
Forecast Period
Rapid adoption of forensic technologies and equipment such as DNA sequences,
magnetic fingerprinting, integrated ballistic systems, among others to drive
the growth of global forensic technology market
According to TechSci Research Report, “Global Forensic Technology
Market By Product, By Technology, By Application, By Region, Forecast
& Opportunities, 2025”, the global forensic technology market is expected
to grow at a robust rate during the forecast period on account of the
increasing investments by various public and private organizations for
forensic research. However, lack of accuracy in the results obtained using
these technologies can hamper the growth of market during forecast period.
Browse market data Tables and Figures spread through Pages and an in-depth TOC on" Global Forensic Technology Market" https://www.techsciresearch.com/report/forensic-technology-
market/4415.html
The global forensic technology market is segmented based on product,
technology, application, company and region. Based on technology, the
market can be fragmented into DNA profiling, fingerprinting analysis, drug
analysis, and firearm analysis. The DNA profiling segment is expected to
dominate the market during forecast period attributable to its wide range of
applications in body fluid identification, paternity testing, examination of
drug abuse, and identification of disaster victims.
3M Company, Agilent Technologies, Belkasoft, General Electric Company,
LGC Limited, MorphoTrust USA, NMS Lab, Thermo Fisher Scientific Inc,
Ultra-Electronics Forensic Technology, SPEX Forensics and others are
some of the leading players operating in global forensic technology market.
The companies operating in the market are using organic strategies such as
product launches, mergers and collaborations to boost their share.
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“North America is expected to dominate the market for forensic technology
during the forecast period, owing to the increase in the adoption of forensics
by private companies and law enforcement agencies amongst various
sectors including healthcare in the region. Additionally, an exponential rise
in the number of criminal activities in the region is further driving the
market in the region.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Forensic Technology Market By Product, By Technology, By
Application, By Region, Forecast & Opportunities, 2025” has evaluated
the future growth potential of global forensic technology market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along
with essential drivers, challenges and opportunities in global forensic
technology market.