Forensic Technology Market Size To Reach $40.4 Billion By 2025

The global Forensic Technology Market is expected to reach USD 40.4 billion by 2025, according to a new report by Grand View Research, Inc. Innovations in forensic science lead to the development of advanced techniques for solving crimes and increasing the efficiency of DNA testing. Government initiatives for achieving progress in research in forensic science, which is critical for public safety, is widening the scope for forensic technologies market growth. For instance, National Institute of Justice (NIJ) entered into a partnership with National Institute of Standards and Technology (NIST), and National Science Foundation (NSF) to develop new techniques. 

These organizations have also jointly initiated Industry/University Cooperative Research Centers Program that aids in industry and academic collaborations for efficient R&D in forensic science. One of the major contributions by this program includes development of practices for preservation and handling of DNA &other biological evidence. These agenda of this program is to enhance the interoperability of national as well as regional automated fingerprinting identification systems, limit investigator bias, and develop standards for efficient analysis in criminal cases.

U.S. forensic technology market by product, 2014 - 2025 (USD Million)

Browse Details of Report @
http://www.grandviewresearch.com/industry-analysis/forensic-technology-market

Further Key Findings Fromthe Report Suggest:

• Capillary electrophoresis accounted for the largest part of the type segment in 2016. This can beattributed to high penetration in various applications such as toxicology studies, illicit drug analysis, and ballistics
• In the services segment, chemical analysis captured the dominant share in 2016. This is a result of increasing adoption of this technique in fire debris analysis, serology, bloodstain pattern analysis, and fingerprinting
• In the application segment, judicial/law enforcement held the largest part in 2016 owing to the growing number of government initiatives intended toward clearing backlogs of criminal cases that require concrete evidence
• Laboratory technology held a substantial share of the location segment. This is a consequence of consistent usage due to its ability to analyze a large number of samples
• North America held the largest share of the market owing to the increase in number of supportive government initiatives aimed toward promoting usage of forensic technologies
• Asia Pacific is anticipated to witnesslucrative CAGR during the forecast period. The lucrative growth rate can be attributed to development of advanced infrastructure fortesting facilities
• High competition has been observed as a result of key players adopting strategies that include new product development and strategic collaborations & agreements to gain competitive advantage

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