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The Forensic Technology Market Size was valued at USD 4.50 Billion in 2023, and is expected to reach USD 10.80 Billion by 2032, and grow at a CAGR of 9.07% over the forecast period 2024-2032.
Growing instances of crime including cybercrimes, terrorism, and organized crime a major driver for the forensic technology market. Cybercrime, for instance, has surged to over USD 6.9 billion just in 2021 across reported losses by the Federal Bureau of Investigation (FBI), a major increase from prior years. Our increasing vulnerability to ransomware and phishing scams necessitates more specialized digital forensic tools for investigation and mitigation. Mass shootings are on the rise, and over 60,000 terrorist incidents have taken place worldwide in recent years according to Global Terrorism Index data. These narratives illustrate the potential for using next-generation forensic technologies to deeply understand, and effectively counteract terrorist threats.
Organized crime groups are increasingly using technology to facilitate their operations, according to the United Nations Office on Drugs and Crime (UNODC). Enterprises need to employ digital forensics and surveillance technologies to trace cybercriminal networks and break them down. As these types of crime change and get more advanced, the need for law enforcement agencies and forensic professionals to utilize top-notch technologies that can help them deal effectively with such threats remains paramount. This increased necessity of sophisticated forensic solutions powers the growth in the market for forensic technology.
KEY DRIVERS:
The Increasing Incidence of Crimes, Including Cybercrimes, Terrorism, and Organized Crime, is A Significant Driver for The Forensic Technology Market.
The Expanding Applications of Forensic Technology Across Various Fields, Including Environmental Forensics, Automotive Forensics, And Healthcare, are Contributing to Market Growth.
RESTRAINTS:
The Lack of Standardized Regulations and Guidelines Across Different Countries Can Complicate the Approval and Commercialization Processes for Forensic Technology Products.
Stringent Regulatory Requirements and Privacy Laws, Such as GDPR In Europe and HIPAA In the United States, Can Restrict the Use of Certain Technologies or Methodologies, Complicating the Adoption and Integration Process.
OPPORTUNITY:
Continuous Advancements in Technology, Including Artificial Intelligence, Machine Learning, And Big Data Analytics, Are Creating New Opportunities for The Forensic Technology Market.
KEY MARKET SEGMENTATION:
By Type
The highest share in 2023 was owed to the capillary electrophoresis segment, which held up a value of about 33%, due to its advantages compared with other techniques. The techniques offer advantages such as reduced risk of cross-contamination, high-speed analysis, low sample consumption, and online detection capability among others integrated to realize advanced resolution and user-friendly design. The second also helps to estimate and give fast profiling of anionic components discovered in explosives, toxins, etc.
Though gel electrophoresis is not widely employed in forensic sciences, capillary electrophoresis finds a wide application because of its ability to micro-sample and it requires low sample preparation and easy detection. Due to its increased capability and sensitivity of DNA-based paternity testing as well as human identification in forensic situations with degraded biological samples. It also helps in the minimization of bias & errors and the generation of whole human genome data. This is anticipated to boost the NGS penetration and many companies are developing advanced, low-cost benchtop systems. An example in forensics: Verogen introduced a workflow ForenSeq MainstAY Kit that permits high-throughput next-generation sequencing (NGS) to be viable for the forensic laboratory, enabling support of volume case work sexual assault cases starting from May 2021.
By Service
DNA profiling held the largest market share of 45% in 2023. DNA profiling has the largest market share due to a variety of applications in disaster victim identification, paternity testing, forensic investigation, and blood fluid analysis. Furthermore, the surge in spending on R&D and the rising number of DNA databases is anticipated to propel its growth. In December 2020 NIJ awarded USD 17 million to fund 36 forensic science R&D projects aiming at improving the accuracy speed and reliability of the analysis.
Among the technologies, the forensic technology market is largely conquered by chemical analysis and holds almost 30% of the total share in these forensics. In terms of the growth rate forecast period, an impressive trend shows that this segment will grow at a CAGR above than last few years tuned to ~8. A large number of applications such as fingerprinting, bloodstain pattern analysis, and alcohol testing, etc. is expected to propel the segment growth during this period due to a huge potential in chemical forensic sciences including serology, fire debris analysis; trace evidence & toxicology studies polls. Additionally, higher adoption of chemical analysis by forensic experts in drug abuse cases is also propelling the growth of the segment. For example, if a patrol vehicle or police squad car notices alcohol intoxication THEN they will find out through a Breathalyzer.
By Application
Of these, the judicial/law enforcement segment dominated in 2023 with a share of 36%. This is attributed to rising initiatives by government authorities across regions, for the production of DNA databases. This led to the immediate creation of a national DNA database to aid forensic evidence and its wide range of uses related to justice. In the US such technique used is known as forensics) was initiated by the FBI Criminal Justice System when Congress passed its version of criminal activities (Veronica Tucson_case). Likewise, a myriad of other tools that help lab techs obtain information from DNA samples more cheaply and quickly are the easy flow for these rising judicial uses. Such quick turnarounds are also possible in the laboratory - by using more sophisticated methods, DNA profiles can be produced from swabs within 90 minutes.
By pharmacogenetics, the market is segregated into diagnostics and treatment. The growing need for solving crimes and decreasing the number of pending cases is expected to propel growth in the market. The study is carried out by studying the bones, teeth, and other tissues of this age-old corpse in a living dead man at the root level of the crime scene available to them. Additionally, the development of technologically advanced and innovative products along with several symposiums & conferences organized to raise awareness about the utilization of these technologies in day-to-day DNA analysis are slated to catapult the market growth over the forecast period.
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REGIONAL ANALYSIS:
In 2023, North America held the largest market share of 35% of the global forensic technologies and services as a result of rising criminal cases that led to a rise in the number of forensics analyses. In addition to other industries such as healthcare, law enforcement agencies, and private organizations are promoting the implementation of forensic services. Moreover, increasing progress in advanced forensic techniques and healthcare infrastructure is further anticipated to propel regional growth of the market for forensic analysis performed.
KEY PLAYERS:
The key market players include Eurofins Medigenomix GmbH, Agilent Technologies, NMS Labs, Thermo Fisher Scientific, Inc., Forensic Fluids Laboratories, Forensic Pathways, SPEX Forensics, LGC Forensics, Pyramidal Technologies Ltd, GE Healthcare & other players.
RECENT DEVELOPMENTS
Thermo Fisher Scientific also acquired Mesa Biotech in 2021, as a developer of point-of-care diagnostic tests. Molecular diagnostics and expand the forensic technology market by increasing its share in global markets
In 2021, Agilent Technologies released its new software solution called Agilent Forensic Toxicology Advisor, which has been introduced to get rid of the complexities in forensic toxicology analysis. These improvements are anticipated to tremendously escalate lab efficiency and precision, further solidifying Agilent's representation in the worldwide forensic tech industry.
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Report Attributes |
Details |
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Market Size in 2023 |
US$ 4.50 Billion |
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Market Size by 2032 |
US$ 10.80 Billion |
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CAGR |
CAGR of 9.07% From 2024 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024-2032 |
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Historical Data |
2020-2022 |
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Report Scope & Coverage |
Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
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Key Segments |
•By Type (Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Next Generation Sequencing (NGS), Rapid DNA Analysis, Automated Liquid Handling Technology, Microarrays & others) |
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Regional Analysis/Coverage |
North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
|
Company Profiles |
Eurofins Medigenomix GmbH, Agilent Technologies, NMS Labs, Thermo Fisher Scientific, Inc., Forensic Fluids Laboratories, Forensic Pathways, SPEX Forensics, LGC Forensics, Pyramidal Technologies Ltd, GE Healthcare & other players. |
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Key Drivers |
•The Increasing Incidence of Crimes, Including Cybercrimes, Terrorism, and Organized Crime, is A Significant Driver for The Forensic Technology Market. |
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RESTRAINTS |
•The Lack of Standardized Regulations and Guidelines Across Different Countries Can Complicate the Approval and Commercialization Processes for Forensic Technology Products. |
Ans: Process Analytical Technology Market size was valued at USD 4.50 billion in 2023.
Ans: The forensic technology market is expected to grow at 9.07% CAGR from 2024 to 2032.
Ans: According to our analysis, the forensic technology market is anticipated to reach USD 10.80 billion by 2032.
Ans: Rising criminal activity increases demand for forensic technology solutions.
Ans: Yes, you may request customization based on your company's needs.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Forensic Technology Market Segmentation, By Type
7.1 Introduction
7.2 Polymerase Chain Reaction (PCR)
7.3 Capillary Electrophoresis
7.4 Next Generation Sequencing (NGS)
7.5 Rapid DNA Analysis
7.6 Automated Liquid Handling Service
7.7 Microarrays
7.8 Others
8. Forensic Technology Market Segmentation, By Service
8.1 Introduction
8.2 DNA Profiling
8.3 Chemical Analysis
8.4 Biometric Analysis
8.5 Firearms Identification
8.6 Others
9. Forensic Technology Market Segmentation, By Application
9.1 Introduction
9.2 Pharmacogenetics
9.3 Biodefense & Bio surveillance
9.4 Judicial/Law Enforcement
9.5 Others
10. Forensic Technology Market Segmentation, By Location
10.1 Introduction
10.2 Laboratory Forensics Technology
10.3 Portable Forensics Technology
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 Trend Analysis
11.2.2 North America Forensic Technology Market by Country
11.2.3 North America Forensic Technology Market By Type
11.2.4 North America Forensic Technology Market By Service
11.2.5 North America Forensic Technology Market By Application
11.2.6 North America Forensic Technology Market By Location
11.2.7 USA
11.2.7.1 USA Forensic Technology Market By Type
11.2.7.2 USA Forensic Technology Market By Service
11.2.7.3 USA Forensic Technology Market By Application
11.2.7.4 USA Forensic Technology Market By Location
11.2.8 Canada
11.2.8.1 Canada Forensic Technology Market By Type
11.2.8.2 Canada Forensic Technology Market By Service
11.2.8.3 Canada Forensic Technology Market By Application
11.2.8.4 Canada Forensic Technology Market By Location
11.2.9 Mexico
11.2.9.1 Mexico Forensic Technology Market By Type
11.2.9.2 Mexico Forensic Technology Market By Service
11.2.9.3 Mexico Forensic Technology Market By Application
11.2.9.4 Mexico Forensic Technology Market By Location
11.3 Europe
11.3.1 Trend Analysis
11.3.2 Eastern Europe
11.3.2.1 Eastern Europe Forensic Technology Market by Country
11.3.2.2 Eastern Europe Forensic Technology Market By Type
11.3.2.3 Eastern Europe Forensic Technology Market By Service
11.3.2.4 Eastern Europe Forensic Technology Market By Application
11.3.2.5 Eastern Europe Forensic Technology Market By Location
11.3.2.6 Poland
11.3.2.6.1 Poland Forensic Technology Market By Type
11.3.2.6.2 Poland Forensic Technology Market By Service
11.3.2.6.3 Poland Forensic Technology Market By Application
11.3.2.6.4 Poland Forensic Technology Market By Location
11.3.2.7 Romania
11.3.2.7.1 Romania Forensic Technology Market By Type
11.3.2.7.2 Romania Forensic Technology Market By Service
11.3.2.7.3 Romania Forensic Technology Market By Application
11.3.2.7.4 Romania Forensic Technology Market By Location
11.3.2.8 Hungary
11.3.2.8.1 Hungary Forensic Technology Market By Type
11.3.2.8.2 Hungary Forensic Technology Market By Service
11.3.2.8.3 Hungary Forensic Technology Market By Application
11.3.2.8.4 Hungary Forensic Technology Market By Location
11.3.2.9 Turkey
11.3.2.9.1 Turkey Forensic Technology Market By Type
11.3.2.9.2 Turkey Forensic Technology Market By Service
11.3.2.9.3 Turkey Forensic Technology Market By Application
11.3.2.9.4 Turkey Forensic Technology Market By Location
11.3.2.10 Rest of Eastern Europe
11.3.2.10.1 Rest of Eastern Europe Forensic Technology Market By Type
11.3.2.10.2 Rest of Eastern Europe Forensic Technology Market By Service
11.3.2.10.3 Rest of Eastern Europe Forensic Technology Market By Application
11.3.2.10.4 Rest of Eastern Europe Forensic Technology Market By Location
11.3.3 Western Europe
11.3.3.1 Western Europe Forensic Technology Market by Country
11.3.3.2 Western Europe Forensic Technology Market By Type
11.3.3.3 Western Europe Forensic Technology Market By Service
11.3.3.4 Western Europe Forensic Technology Market By Application
11.3.3.5 Western Europe Forensic Technology Market By Location
11.3.3.6 Germany
11.3.3.6.1 Germany Forensic Technology Market By Type
11.3.3.6.2 Germany Forensic Technology Market By Service
11.3.3.6.3 Germany Forensic Technology Market By Application
11.3.3.6.4 Germany Forensic Technology Market By Location
11.3.3.7 France
11.3.3.7.1 France Forensic Technology Market By Type
11.3.3.7.2 France Forensic Technology Market By Service
11.3.3.7.3 France Forensic Technology Market By Application
11.3.3.7.4 France Forensic Technology Market By Location
11.3.3.8 UK
11.3.3.8.1 UK Forensic Technology Market By Type
11.3.3.8.2 UK Forensic Technology Market By Service
11.3.3.8.3 UK Forensic Technology Market By Application
11.3.3.8.4 UK Forensic Technology Market By Location
11.3.3.9 Italy
11.3.3.9.1 Italy Forensic Technology Market By Type
11.3.3.9.2 Italy Forensic Technology Market By Service
11.3.3.9.3 Italy Forensic Technology Market By Application
11.3.3.9.4 Italy Forensic Technology Market By Location
11.3.3.10 Spain
11.3.3.10.1 Spain Forensic Technology Market By Type
11.3.3.10.2 Spain Forensic Technology Market By Service
11.3.3.10.3 Spain Forensic Technology Market By Application
11.3.3.10.4 Spain Forensic Technology Market By Location
11.3.3.11 Netherlands
11.3.3.11.1 Netherlands Forensic Technology Market By Type
11.3.3.11.2 Netherlands Forensic Technology Market By Service
11.3.3.11.3 Netherlands Forensic Technology Market By Application
11.3.3.11.4 Netherlands Forensic Technology Market By Location
11.3.3.12 Switzerland
11.3.3.12.1 Switzerland Forensic Technology Market By Type
11.3.3.12.2 Switzerland Forensic Technology Market By Service
11.3.3.12.3 Switzerland Forensic Technology Market By Application
11.3.3.12.4 Switzerland Forensic Technology Market By Location
11.3.3.13 Austria
11.3.3.13.1 Austria Forensic Technology Market By Type
11.3.3.13.2 Austria Forensic Technology Market By Service
11.3.3.13.3 Austria Forensic Technology Market By Application
11.3.3.13.4 Austria Forensic Technology Market By Location
11.3.3.14 Rest of Western Europe
11.3.3.14.1 Rest of Western Europe Forensic Technology Market By Type
11.3.3.14.2 Rest of Western Europe Forensic Technology Market By Service
11.3.3.14.3 Rest of Western Europe Forensic Technology Market By Application
11.3.3.14.4 Rest of Western Europe Forensic Technology Market By Location
11.4 Asia-Pacific
11.4.1 Trend Analysis
11.4.2 Asia-Pacific Forensic Technology Market by Country
11.4.3 Asia-Pacific Forensic Technology Market By Type
11.4.4 Asia-Pacific Forensic Technology Market By Service
11.4.5 Asia-Pacific Forensic Technology Market By Application
11.4.6 Asia-Pacific Forensic Technology Market By Location
11.4.7 China
11.4.7.1 China Forensic Technology Market By Type
11.4.7.2 China Forensic Technology Market By Service
11.4.7.3 China Forensic Technology Market By Application
11.4.7.4 China Forensic Technology Market By Location
11.4.8 India
11.4.8.1 India Forensic Technology Market By Type
11.4.8.2 India Forensic Technology Market By Service
11.4.8.3 India Forensic Technology Market By Application
11.4.8.4 India Forensic Technology Market By Location
11.4.9 Japan
11.4.9.1 Japan Forensic Technology Market By Type
11.4.9.2 Japan Forensic Technology Market By Service
11.4.9.3 Japan Forensic Technology Market By Application
11.4.9.4 Japan Forensic Technology Market By Location
11.4.10 South Korea
11.4.10.1 South Korea Forensic Technology Market By Type
11.4.10.2 South Korea Forensic Technology Market By Service
11.4.10.3 South Korea Forensic Technology Market By Application
11.4.10.4 South Korea Forensic Technology Market By Location
11.4.11 Vietnam
11.4.11.1 Vietnam Forensic Technology Market By Type
11.4.11.2 Vietnam Forensic Technology Market By Service
11.4.11.3 Vietnam Forensic Technology Market By Application
11.4.11.4 Vietnam Forensic Technology Market By Location
11.4.12 Singapore
11.4.12.1 Singapore Forensic Technology Market By Type
11.4.12.2 Singapore Forensic Technology Market By Service
11.4.12.3 Singapore Forensic Technology Market By Application
11.4.12.4 Singapore Forensic Technology Market By Location
11.4.13 Australia
11.4.13.1 Australia Forensic Technology Market By Type
11.4.13.2 Australia Forensic Technology Market By Service
11.4.13.3 Australia Forensic Technology Market By Application
11.4.13.4 Australia Forensic Technology Market By Location
11.4.14 Rest of Asia-Pacific
11.4.14.1 Rest of Asia-Pacific Forensic Technology Market By Type
11.4.14.2 Rest of Asia-Pacific Forensic Technology Market By Service
11.4.14.3 Rest of Asia-Pacific Forensic Technology Market By Application
11.4.14.4 Rest of Asia-Pacific Forensic Technology Market By Location
11.5 Middle East & Africa
11.5.1 Trend Analysis
11.5.2 Middle East
11.5.2.1 Middle East Forensic Technology Market by Country
11.5.2.2 Middle East Forensic Technology Market By Type
11.5.2.3 Middle East Forensic Technology Market By Service
11.5.2.4 Middle East Forensic Technology Market By Application
11.5.2.5 Middle East Forensic Technology Market By Location
11.5.2.6 UAE
11.5.2.6.1 UAE Forensic Technology Market By Type
11.5.2.6.2 UAE Forensic Technology Market By Service
11.5.2.6.3 UAE Forensic Technology Market By Application
11.5.2.6.4 UAE Forensic Technology Market By Location
11.5.2.7 Egypt
11.5.2.7.1 Egypt Forensic Technology Market By Type
11.5.2.7.2 Egypt Forensic Technology Market By Service
11.5.2.7.3 Egypt Forensic Technology Market By Application
11.5.2.7.4 Egypt Forensic Technology Market By Location
11.5.2.8 Saudi Arabia
11.5.2.8.1 Saudi Arabia Forensic Technology Market By Type
11.5.2.8.2 Saudi Arabia Forensic Technology Market By Service
11.5.2.8.3 Saudi Arabia Forensic Technology Market By Application
11.5.2.8.4 Saudi Arabia Forensic Technology Market By Location
11.5.2.9 Qatar
11.5.2.9.1 Qatar Forensic Technology Market By Type
11.5.2.9.2 Qatar Forensic Technology Market By Service
11.5.2.9.3 Qatar Forensic Technology Market By Application
11.5.2.9.4 Qatar Forensic Technology Market By Location
11.5.2.10 Rest of Middle East
11.5.2.10.1 Rest of Middle East Forensic Technology Market By Type
11.5.2.10.2 Rest of Middle East Forensic Technology Market By Service
11.5.2.10.3 Rest of Middle East Forensic Technology Market By Application
11.5.2.10.4 Rest of Middle East Forensic Technology Market By Location
11.5.3 Africa
11.5.3.1 Africa Forensic Technology Market by Country
11.5.3.2 Africa Forensic Technology Market By Type
11.5.3.3 Africa Forensic Technology Market By Service
11.5.3.4 Africa Forensic Technology Market By Application
11.5.3.5 Africa Forensic Technology Market By Location
11.5.3.6 Nigeria
11.5.3.6.1 Nigeria Forensic Technology Market By Type
11.5.3.6.2 Nigeria Forensic Technology Market By Service
11.5.3.6.3 Nigeria Forensic Technology Market By Application
11.5.3.6.4 Nigeria Forensic Technology Market By Location
11.5.3.7 South Africa
11.5.3.7.1 South Africa Forensic Technology Market By Type
11.5.3.7.2 South Africa Forensic Technology Market By Service
11.5.3.7.3 South Africa Forensic Technology Market By Application
11.5.3.7.4 South Africa Forensic Technology Market By Location
11.5.3.8 Rest of Africa
11.5.3.8.1 Rest of Africa Forensic Technology Market By Type
11.5.3.8.2 Rest of Africa Forensic Technology Market By Service
11.5.3.8.3 Rest of Africa Forensic Technology Market By Application
11.5.3.8.4 Rest of Africa Forensic Technology Market By Location
11.6 Latin America
11.6.1 Trend Analysis
11.6.2 Latin America Forensic Technology Market by Country
11.6.3 Latin America Forensic Technology Market By Type
11.6.4 Latin America Forensic Technology Market By Service
11.6.5 Latin America Forensic Technology Market By Application
11.6.6 Latin America Forensic Technology Market By Location
11.6.7 Brazil
11.6.7.1 Brazil Forensic Technology Market By Type
11.6.7.2 Brazil Forensic Technology Market By Service
11.6.7.3 Brazil Forensic Technology Market By Application
11.6.7.4 Brazil Forensic Technology Market By Location
11.6.8 Argentina
11.6.8.1 Argentina Forensic Technology Market By Type
11.6.8.2 Argentina Forensic Technology Market By Service
11.6.8.3 Argentina Forensic Technology Market By Application
11.6.8.4 Argentina Forensic Technology Market By Location
11.6.9 Colombia
11.6.9.1 Colombia Forensic Technology Market By Type
11.6.9.2 Colombia Forensic Technology Market By Service
11.6.9.3 Colombia Forensic Technology Market By Application
11.6.9.4 Colombia Forensic Technology Market By Location
11.6.10 Rest of Latin America
11.6.10.1 Rest of Latin America Forensic Technology Market By Type
11.6.10.2 Rest of Latin America Forensic Technology Market By Service
11.6.10.3 Rest of Latin America Forensic Technology Market By Application
11.6.10.4 Rest of Latin America Forensic Technology Market By Location
12. Company Profiles
12.1 Eurofins Medigenomix GmbH
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Type s/ Services Offered
12.1.4 The SNS View
12.2 Agilent Technologies
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Type s/ Services Offered
12.2.4 The SNS View
12.3 NMS Labs
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Type s/ Services Offered
12.3.4 The SNS View
12.4 Thermo Fisher Scientific, Inc.
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Type s/ Services Offered
12.4.4 The SNS View
12.5 Forensic Fluids Laboratories
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Type s/ Services Offered
12.5.4 The SNS View
12.6 Forensic Pathways
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Type s/ Services Offered
12.6.4 The SNS View
12.7 SPEX Forensics
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Type s/ Services Offered
12.7.4 The SNS View
12.8 LGC Forensics
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Type s/ Services Offered
12.8.4 The SNS View
12.9 Pyramidal Technologies Ltd.
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Type s/ Services Offered
12.9.4 The SNS View
12.10 GE Healthcare
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Type s/ Services Offered
12.10.4 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Segments
By Type
Polymerase Chain Reaction (PCR)
Capillary Electrophoresis
Next Generation Sequencing (NGS)
Rapid DNA Analysis
Automated Liquid Handling Technology
Microarrays
Others
By Service
DNA Profiling
Chemical Analysis
Biometric Analysis
Firearms Identification
Others
By Application
Pharmacogenetics
Biodefense & Bio surveillance
Judicial/Law Enforcement
Others
By Location
Laboratory Forensics Technology
Portable Forensics Technology
Request for Segment Customization as per your Business Requirement: Segment Customization Request
Regional Coverage:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
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Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
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Geographic Analysis
Additional countries in any of the regions
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Detailed analysis and profiling of additional market players (Up to five)
The Ventricular Assist Device Market Size was USD 1.6 Billion in 2023 and is projected to grow to USD 3.3 Billion by 2032, with a CAGR of 8.8%.
The Healthcare Contract Management Software Market size was valued at USD 1.68 billion in 2023 and is expected to reach USD 10.75 billion by 2032 at a CAGR of 22.9% during the forecast period of 2024-2032.
The Veterinary Vaccine Adjuvants Market size was valued at USD 9.18 billion in 2023 and is estimated to reach USD 15.24 billion by 2032 with a growing CAGR of 5.8% from 2024 to 2032.
Bleeding Disorders Treatment Market was USD 16.35 billion in 2023 and is expected to reach USD 35.17 Bn by 2032, growing at a CAGR of 8.91% by 2024-2032.
The Laser Hair Removal Market Size was valued at USD 1.23 billion in 2023 and is witnessed to reach USD 5.02 billion by 2032 and grow at a CAGR of 17.81% over the forecast period 2024-2032.
The Immunomodulators Market size was USD 224.17 Billion in 2023 and is expected to Reach USD 391.78 Billion by 2032 and grow at a CAGR of 6.4% over the forecast period of 2024-2032.
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