The drug analysis service segment generated the maximum revenue, accounting for more than one-fourth of the global forensic technology market in 2018
— Allied Market Research
NE WIN SIVERS DRIVE, PORTLAND, UNITED STATES, January 11, 2022 /EINPresswire.com/ — According to the report by Allied Market Research, titled, “Forensic Technology Market by Product (DNA Testing, Biometric Devices, Digital Forensics, and Ballistic Forensics), Service (DNA Profiling, Fingerprinting Analysis, Drug Analysis, and Firearm Analysis) – Global Opportunity Analysis and Industry Forecast, 2018-2025″. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
The global forensic technology market was valued at $9,458 million in 2015, and is projected to reach $22,905 million by 2023, growing at a CAGR of 13.4% from 2017 to 2023. Biometric devices segment held more than one-third share of the total market in 2016. Forensic technology involves the use of data/sample collected from the crime scene.The market has witnessed significant growth in the recent past due to development of new types of technologies to solve crimes.
Advent of new technologies such as alternative light photography, ballistic photography and DNA sequencer and rise in incidence of crime are the key factors that drive the market growth. In addition, rise in government initiatives to support forensic research such as funding availability are anticipated to fuel the demand for forensic technologies globally. However, lack of results obtained from these technologies restrict the market growth.
1) The COVID-19 impact on the Forensic Technology Market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.
3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.
4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.
•This report entails a detailed quantitative analysis along with the current global Forensic Technology Market trends from 2018 to 2025 to identify the prevailing opportunities along with the strategic assessment.
•The Forensic Technology Market forecast is studied from 2018 to 2025.
•The Forensic Technology Market size and estimations are based on a comprehensive analysis of key developments in the endoscopic retrograde cholangiopancreatography industry.
•A qualitative analysis based on innovative products facilitates strategic business planning.
•The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the Forensic Technology Market.
3M Company, Agilent Technologies Inc., Belkasoft, Eurofins Medigenomix Forensik GmbH, GE Healthcare, LGC Limited, MorphoTrust USA, NMS Labs, Thermo Fisher Scientific Inc., and Ultra Electronics Holdings plc.
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Q1. What are the leading market players active in the Forensic Technology Market?
Q2. What current trends will influence the market in the next few years?
Q3. What are the driving factors, restraints, and opportunities in the market?
Q4. What are the projections for the future that would help in taking further strategic steps?
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.