Forensics Products and Services Market Size, Share, Growth, and Industry Analysis by Type (DNA Profiling, Chemical Analysis, Biometric/Fingerprint Analysis, Firearm Analysis, and Others) By Application (Laboratory Forensics (LIMS) and Portable Forensics (FaaS), Regional Insights, and Forecast From 2024 To 2031

Forensics Products And Services Market Overview

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The global forensics products and services market size was USD 12950 million in 2022 and is projected to touch USD 22242.59 million by 2031, at a CAGR of 6.2% during the forecast period.

In order to process samples and evidence for criminal investigations and prosecutions, forensic technologies are used. In order to perform investigations and review the evidence, different forensic science disciplines use a variety of technologies, including scanning electron microscopy, DNA fingerprinting, alternative light photography, facial reconstruction, and LA-ICP-MS. For the resolution of numerous types of cases, including missing person investigations, disaster victim identification, paternity testing, and others, these technologies offer efficient and trustworthy outcomes.

The demand for cloud computing, remote device monitoring, and data transfer through wireless devices has increased as a result of the expansion of IoT applications. The issues of data theft and data protection during wireless transmission are unique to cloud computing and remote equipment. The amount of sensitive and secret data that is saved on various remotely linked devices has expanded as a result of the rise in BYOD culture, remote working, and digitalization of business processes.

COVID-19 Impact: Industry Imbalance Causes Market Distortion

The global COVID-19 pandemic has been unprecedented and staggering, with the forensics products and services experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

For advance materials, the COVID-19 outbreak resulted in issues like unstable markets, a decline in client confidence, and challenges with import and export business. The global supply chain includes the sourcing of raw materials, packaging, and distribution. Moving commodities, chemicals, and other items has become challenging due to lockdowns. It had a financial impact on the markets for material in addition to having an immediate impact on markets, supply chains, supply and demand, and all of these other things.

LATEST TRENDS

Rising Investment to Boost Market Growth

Investments in digital forensics solutions have grown as a result of the surge in cyberattacks, malware, ransomware, and other methods to obtain data through illegal means. Additionally, the forensics products and services market growth as a result of the expansion of government requirements to adhere to data protection standards. Such factors are expected to drive the forensics products and services market growth in the coming years.

Forensics Products And Services Market Segmentation

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• By Types 

Based on type, the market is classified into (DNA Profiling, Chemical Analysis, Biometric/Fingerprint Analysis, Firearm Analysis, and Others.

• By Application

Based on the market is categorized into Laboratory Forensics (LIMS) and Portable Forensics (FaaS).

DRIVING FACTORS

Increasing Demand in Crime Scene to Give Market Extra Boost

The use of cutting-edge technologies to solve crimes and the rise in crime rates are the two main reasons driving the growth of the worldwide forensics technology industry. For instance, according to Statista's records, more than 746 thousand crimes were reported in London in 2020. As a result, the prediction for the forensics technology industry indicates that growth in crime rates will lead to increased growth.

Technological Development to Encourage Market Expansion

The judicial system is under increasing pressure to finish cases that are backlogged, and governments in many nations are outsourcing case findings, which presents lucrative prospects for market participants who provide forensic services and propels the forensics technology sector. The development of the forensics technology market is, however, constrained by these technologies' lack of precision.

RESTRAINING FACTORS

Strict Regulations to Impede Market Expansion

The strict regulatory restrictions are anticipated to restrain the development of the forensic technology sector in developing nations. Federal agencies are required to abide by Quality Assurance Standards (QAS), which include testing requirements for the expertise of forensic laboratories and analysts engaged in DNA analysis. The high cost of sophisticated forensic techniques and the scarcity of experienced specialists are two further issues that in some ways limit the expansion of the global industry.

Forensics Products And Services Market Regional Insights

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Increasing Cases of Criminal Cases to Flourish Market in North America

Due to the rising number of violent crimes in the region, North America is anticipated to have a prominent position in the global forensics products and services market share throughout the forecast period. For instance, according to a report from The Federal Bureau of Investigation (FBI), there were 16,214 murders in the U.S. in 2018 but no occurrences of negligent manslaughter. The rising incidence of criminal cases, which causes an increase in crime scene analyses in the region.

Due to the rising number of forensic laboratories opening in this region, Asia Pacific is anticipated to have considerable expansion in the global market for forensics products and services over the course of the forecast period. The Asia Pacific is expected to grow significantly in the future due to the rising awareness regarding various analytical technologies and the rising investments in the region for criminal identification

KEY INDUSTRY PLAYERS

Leading Manufacturers to Boost Product Demand

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

LIST OF TOP FORENSICS PRODUCTS AND SERVICES COMPANIES

• Danaher Corporation (U.S.)
• Thermo Fisher Scientific (U.S.)
• GE Healthcare (U.S.)
• Agilent Technologies (U.S.)
• Eurofins Medihenomix GmbH (Germany)
• Forensics Consulting Solutions (U.S.)
• Forensic Pathways (U.K.)
• LGC Limited (U.K.)
• Neogen Corporation (U.S.)
• NMS Labs (U.S.)
• Qiagen (Germany)
• SPEX Forensics (U.S.)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost market share.