The adoption of advanced hybridization technologies for molecular forensics tests is driving market demand.
The global Molecular Forensics Market is forecasted to be worth USD 2,223.7 Million by 2027, according to a current analysis by Emergen Research. The market for molecular forensics is growing due to the advancement in technology and the adoption of advanced hybridization technologies for molecular forensics tests. Continuous investment in research and development and favorable regulations will propel the growth of the market. However, factors such as the high cost of techniques and complexities will restrain the market.
Molecular Forensics Market Size – USD 1,097.7 Million in 2019, Market Growth – CAGR of 9.8%, Market trends – Advancement in technology.
Forensics technology finds its application in court for the investigation of crime. An increase in the crime rate and the high demand for solving crimes using advanced technologies will create a demand for the market. Growing government initiatives to support forensic research supplements will also encourage market growth.
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Leading Players Analyzed in the Report are:
Analytik Jena AG, BioChain Institute Inc., Eurofins Scientific SE, Agilent Technologies, Inc., AS ONE International, Inc., Bio-Rad Laboratories, Inc., General Electric Company, Eurofins Scientific SE, Merck KGaA, and Illumina, Inc., among others
Molecular biology tools have improved the capability of the forensic scientist to characterize the biological evidence to the point where it is feasible to analyze the sample and achieve individualization. Lack of accuracy of the results attained from the use of technologies with impedes market growth. The advancement in technologies has also propelled the usage of technology in the criminal investigation.
Some Key Highlights from the Report:
- In May 2020, Renishaw launched the Raman system for forensic analysis. The inVia InSpect is the latest version of its bestselling inVia confocal Raman microscope, customized for usage in molecular forensic laboratories for trace evidence analysis.
- The software segment is anticipated to grow with a CAGR of xx% during the forecast period. The development in molecular software helps in tracking of sample handling throughout the process.
- NGS enables molecular forensics to generate data that span the human genome, and NGS-generated short tandem repeat calls are fully compatible. With its ultra-high scalability, throughput, and speed, Next Generation Sequencing allows researchers to perform different variety of applications and study biological systems at an advanced level.
- The nucleic acid analysis includes isolation as well as characterization of RNA and DNA for application in gene expression, genotyping, microbiome studies, and epigenetic analysis, among others. The segment includes nucleic acid extraction and cleans up, PCR, DNA/RNA quantification, and molecular sequencing.
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For the purpose of this report, Emergen Research has segmented into the global Molecular Forensics Market on the basis of product, technology, application, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Kits and Consumables
- Software and other products
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Polymerase Chain Reaction (PCR)
- Real-time PCR (q-PCR)
- Digital PCR (d-PCR)
- Capillary Electrophoresis
- SNP and STR Sequencing
- mtDNA Sequencing
- Mass Spectrometry
- Tandem MS
- Other Technologies
Application Outlook (Revenue, USD Billion; 2017-2027)
- Radioactive Toxicology
- Nucleic Acid Analysis
- Forensic Databasing
- Microbial Forensics
- Other Applications
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Law Enforcement
- Disaster Management
- Hospitals and Healthcare Providers
- Other End Users
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Rest of MEA
Key points covered in the report:
- A detailed outlook of the market with essential data beneficial for business
- Market segmentation based on product types, applications, and end-users. For further understanding, the key segments are further divided into sub-segments
- Growth factors, driving and restraining factors, product trends, and technological advancements are extensively discussed
- Latest product developments, incorporation of new techniques and profiles of major competitors
- An 8-year forecast estimation detailing the growth and expansion scope of the Molecular Forensics Market
- In-depth analysis of the historical years (2017-2018) and forecast period (2020-2027)
- Market dynamics with information of players, challenges, restraints, threats, and opportunities
- SWOT analysis and Porter’s Five Forces analysis of the top vendors
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