DNA Database Initiatives to Drive Forensic Technologies Market to US$17.7 billion by 2019

2024-11-08 05:32:42 News & Society

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The findings of a latest study by Transparency Market Research (TMR) state that the Forensic Technologies Market is poised to be worth US$17.7 billion by 2019, expanding at a CAGR of 12.4% between 2013 and 2019. According to the TMR report, as of 2012 the forensic technologies/services market was worth US$8.3 billion. These findings and further detailed analyses are discussed in the TMR report titled, ?Forensic Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019?.

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Forensic technologies or services are widely used for the identification and scrutiny of physical evidence that may be gathered a scene of crime or terrorist attack. Evidence thus collected via forensic technologies is admissible in the court of law, can be used by the either the defendant or petitioner as a means to prove innocence or guilt. From the global standpoint, the DNA profiling market is at a stage of high growth; according to the TMR report, it is poised to register an 11% CAGR through the forecast period. In the global market for forensic technologies and services, DNA profiling enjoys a place of prime importance as it has often assisted in solving crimes that would otherwise have been deemed unsolvable for the lack of concrete evidence.

DNA profiling has undergone numerous technological advances what with the introduction of ?microchip technologies? and 'miniaturization'. These breakthroughs have assisted in analyzing and testing DNA samples that date back to several decades or have decomposed or are microscopic. These benefits have led to DNA profiling applications enjoying wider acceptance globally in solving crimes such as rape cases, murders, terrorist attacks and so on. The wider adoption of this technology has helped bring down its cost, further fuelling its rate of adoption to include non-fatal crimes such as white collar crime or burglaries.

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The report on the forensic technologies/services market states that DNA profiling has benefited from much standardization and automation, especially in developed markets such as North America and Europe. These DNA profiles can even be digitalized and archived into records that form larger DNA databases. With the expansion of the forensic technologies market, this step will prove useful in the future when quick referencing is required.

Overall, the forensic technologies market has helped speed up the rate of solving crimes, and has contributed towards creating tamper-proof evidence that is admissible in the courts of law. In the last few years, fast-developing economies in the Asia Pacific region as well as Rest of the Word region have set up large-scale DNA database programs, fuelling the larger forensic technologies/services market as well as that of DNA profiling to a great extent.

From the standpoint of regional markets, North America and Europe hold a leading position because of their dominant market share. However, in the next few years, Asia Pacific and Rest of the World will rise at a rapid pace to constitute nearly 60% of the market share. Numerous forensic technologies/services (firearms identification and fingerprint identification) have been automated and standardized in Europe and North America. This will likely lead to lower costs and spend per full crime case resolution.

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The government sector constitutes a dominant market share in the forensic technologies/services market. Forensic laboratories with public funding are reported to hold about 60% of the entire market share. In comparison to this, private laboratories that can provide end-to-end forensic analysis are few and far between. However, there are a few private entities that are prominent in this market. They include: Thermo Fisher Scientific, LGC Forensics, Bode Technology, and Cellmark Forensic Services.

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