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Global Forensic Technologies Market to Rise at 12.4% CAGR from 2013 to 2019

Wednesday, October 12, 2016 0:49
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(Before It's News)

Forensic technologies are used for the identification, analysis and evaluation of physical evidence gathered from the crime scene. The collected and analyzed forensic evidence is in turn used in criminal law to prove the guilt or innocence of the defendant. It is oft-quoted in crime/law enforcement fields that, “a zero crime rate is a hypothetical situation”. Consequently the forensic technologies/services witness a near-perennial demand (although the growth rate may vary depending on all other variables/factors).


The United Nations (UN), European Union (EU) and Bureau of Justice Statistics (BJS), U.S., have collectively classified physical crime into: Drug offences (includes the illegal possession, cultivation, production, supplying, transportation, importing, exporting and financing of drug operations); Homicide (includes intentional killing of a person/s, including murder, manslaughter, euthanasia and infanticide); Violent crime (physical assault, robbery (stealing by force or threat of force) and sexual offences (including rape and sexual assault)); Property crime (includes domestic burglary and theft of a motor vehicle).


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The market study presents a top-level strategic analysis of the global market and identifies the various forces that will impact the market’s progression across all segments.Worldwide, the rising crime rate, combined with the sophistication with which crimes are committed, is one of the major factors driving the global forensic technologies market. Forensic technologies are used for the identification, interpretation, and examination of physical evidence gathered from crime sites. Following this, the collected and analyzed forensic evidence can be used in courts.


Some of the top-notch organizations in the world, which include the United Nations, the Bureau of Justice Statistics, U.S., and the European Union have classified physical crime into: homicide, drug offences, violent crime, and property crime. For an end-to-end analysis of a physical crime, a combination of forensic technologies is required, a particular type of physical crime can be forensically analyzed with the help of one major forensic technology/service. For example, DNA profiles can be forensically examined using either restriction fragment length polymorphism (RFLP) methodology, short tandem repeat (STR), DNA chip technology, polymerase chain reaction (PCR), and mtDNA Profiling.


The report divides the global forensic technologies market on the basis of service, location, and geography. DNA profiling, chemical (drugs/toxicology/explosives) analysis, biometric/fingerprints analysis, and firearms identification and analysis are the segments of the market based on service.  


DNA profiling accounts for the largest share in the global market and will display a CAGR of 11% from 2013 to 2019. DNA profiling is vitally important for solving crimes that are otherwise impossible to be solved due to inadequate non-DNA-based evidence. The DNA profiling service segment holds immense potential in the global market due to the increasing dependence of law enforcement agencies on it.


In 2012, North America was the leading market for forensic technologies, closely trailed by Europe. The two regions collectively held a substantial share in the global market. However, the Asia Pacific and Rest of the World regions will display unprecedented growth during the forecast years. These two regions will collectively hold a share of 60% in the global market by the end of the forecast horizon.


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The forensic technologies market is anticipated to expand at a healthy 12.4% CAGR from 2013 to 2019, rising from a value of US$8.3 bn in 2012 to US$17.7 bn by 2019.


The report highlights the prominent players competing in the global forensic technologies market and evaluates them based on attributes such as company overview, business strategies, product portfolio, and financial standing. Eurofins Medigenomix Gmbh, SPEX Forensics, Pyramidal Technologies Ltd., GE Healthcare Life Sciences, NMS Labs, Inc., and LGC Forensics are some of the key companies in the forensic technologies market. A SWOT analysis conducted by analysts sheds light on the strengths, weaknesses, opportunities, and threats of these companies, giving clients sharp and actionable insight into their competitors.


About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.


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