Forensic Technology Market Size, Share

The global forensic technology market was valued at USD 14.78 billion in 2021 and is projected to reach USD 41.92 billion by 2030, registering a CAGR of 12.28% from 2022 to 2030.

Forensic technologies analyse samples and evidence for the purposes of criminal investigation and prosecution. Various technologies, such as scanning electron microscopy, DNA fingerprinting, alternative light photography, facial reconstruction, and LA-ICP-MS, are utilised in various sectors of forensic science to conduct investigations and analyse the evidence. These technologies give accurate and dependable results for addressing a variety of instances, including investigations of missing persons, identification of catastrophe victims, and paternity testing, among others.

Market Dynamics

Involvement of advanced technologies to solve criminal cases

The expansion of the worldwide forensics technology market is primarily driven by a rise in crime rates and the use of modern technologies to solve criminal cases. For example, according to Statista, there were over 746 thousand crimes reported in London in 2020. As a result, the market projection for forensics technology is anticipated to exhibit a more significant increase due to the rise in crime rates.

In addition, advancements in forensic science and the introduction of new technologies are predicted to help to the expansion of the forensics technology industry market. For example, Agilent Technologies Inc., a prominent provider of forensic technologies, introduced a new nanodis system for nanoparticle dissolving testing in November 2020. Nonetheless, the inaccuracy of these technologies limited market expansion during the projection period.

High cost

The high prices connected with this technology are the primary factor that is preventing the market from expanding, particularly in the developing and emerging nations of Asia Pacific and Africa.

Increase in crime rates

In recent years, there has been a global increase in the incidence of violent crimes, which is a crucial element driving market expansion. In addition, homicide on a global scale, robbery, sexual assault, and murder are secondary drivers driving market expansion through increasing demand for forensic science. In addition, American nations accounted for a disproportionate part of crime rates in recent years, followed by Africa and Asia, which is projected to generate growth opportunities during the forecast period.

Regional analysis of the global forensic technology market

The market is split into North America, Europe, Asia-Pacific, and LAMEA.

Due to the region's increasing rate of violent crime, North America commanded the greatest market share in 2019. In this region, the adoption of forensics by private firms and law enforcement authorities in numerous industries, including healthcare, has increased significantly, consequently attracting a larger market share. The development of the healthcare infrastructure has resulted in an increase in the effectiveness of forensic R&D, which is anticipated to stimulate market expansion.

The market in the Asia-Pacific region is anticipated to expand at a CAGR of 13.9% over the forecast period, primarily due to the increasing frequency of investments in human identification-related application sectors throughout the region.

In addition, the rise in criminal activity, particularly in growing economies such as China and India, has greatly boosted the use of DNA identification technologies designed to hasten convictions.

Key Highlights

The global silicone sealants market was valued at USD 14.78 billion in 2021 and is projected to reach USD 41.92 billion by 2030, registering a CAGR of 12.28% from 2022 to 2030.
The fingerprinting analysis segment dominated the forensics technology market size market in 2020
North America accounted for the largest market share in 2019