Forensic Technologies Market size to record USD 6.58 billion growth from 2023-2027, Growing importance of NGS is one of the key market trends, Technavio

NEW YORK, May 1, 2024 /PRNewswire/ -- The global forensic technologies market size is estimated to grow by USD 6.58 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of almost 11.89% during the forecast period.

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Key Trends Fueling Growth

• Growing importance of NGS: 
• Next-generation sequencing (NGS) optimizes DNA sequencing, enhancing efficiency through parallel processing of fragments. This expedites data handling at reduced costs. NGS applications in forensics, like STR markers for individual identification and SNP analysis for ancestry or phenotype prediction, broaden investigative avenues.
• SNPs aid in geographical or phenotype profiling, enhancing crime scene analysis. Forensic tech market leaders, including Verogen - a collaboration between Illumina and Telegraph Hill Partners, leverage NGS advancements to enrich product offerings. Verogen leverages Illumina's NGS expertise to deliver cutting-edge forensic sequencing solutions. Such innovations drive market expansion, foreseeably fostering growth in the coming years.

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Major Challenges:

• Inherent issues in forensic science 
• Cloud-based applications allow users to access data across devices, but this convenience poses challenges. Users making simultaneous changes from different devices make it difficult to trace actions, increasing the risk of credential compromise and identity theft.
• Additionally, accessing email from both mobile and computer simultaneously can leave no trace of changes made on one device on the other. Forensic experts and police may lack commitment to quality standards, hampering evidence tracing. Limited funding for forensic science hinders progress, demanding increased support from police and legal aid agencies.
• DNA contamination in police custody and Sexual Assault Referral Centers poses risks of compromised evidence, impacting court cases. Such challenges are expected to impede market growth in the forecast period.

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Analyst Review

The forensic technologies market is witnessing significant growth, driven by advancements in various fields such as DNA analysis, digital forensics, and biometrics. With organizations like UNODC and NCBI spearheading research, there's a notable focus on portable technologies, facilitating on-the-go investigations by law enforcement agencies like the Illinois State Police and FBI.

Next-generation sequencing and rapid DNA analysis have revolutionized DNA profiling, aiding in paternity testing and identifying disaster victims efficiently. Moreover, the integration of AI enhances automated fingerprint identification systems, streamlining forensic processes.

Private companies and healthcare institutions are increasingly investing in forensic capabilities, particularly in pharmacogenetics and toxicology studies, contributing to the market's expansion. From bloodstain pattern analysis to facial reconstruction, the breadth of forensic technologies caters to various sectors, including judicial, law enforcement, and biodefense.

As demand rises for precise identification methods in cases of violent crimes like homicide and robbery, the forensic technologies market continues to evolve, offering innovative solutions for DNA identification and beyond.

Market Overview

The forensic technologies market encompasses a range of vital tools and methods for investigating crimes and identifying individuals. Laboratories equipped with advanced equipment like capillary electrophoresis and electron microscopy aid in analyzing evidence such as DNA and ballistic materials efficiently. Portable forensic technology enables field investigations, crucial for scenarios involving missing persons or catastrophe victims.

Digital and computer forensics tackle cybercrimes, while magnetic fingerprinting enhances traditional methods. The FBI and Forensic Capability Network play key roles in coordinating efforts and sharing resources. Artificial intelligence streamlines analysis processes, while next-generation sequencing revolutionizes DNA profiling. Light photography assists in documenting evidence effectively.

With the increasing demand for accurate identification and investigation, the forensic technologies market continues to evolve, supported by innovations and collaborations within the industry, as indicated by platforms like Statista.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape

• Application
• Law Enforcement Agencies
• Healthcare
• Others
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Website: www.technavio.com/

SOURCE Technavio