(I-BusinessNews.Com, September 17, 2020 ) Factors such as the growing number of crimes across major countries, ongoing technological advancements in forensic sciences, growing public-private investments in the field of forensics, and the rising awareness among investigators about the role of DNA profiling in criminology are driving the growth of the forensic equipment market.
According to research report the global forensic equipment market is projected to reach USD 8.7 billion by 2024 from USD 6.0 billion in 2019, at a CAGR of 7.7% during the forecast period.
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Â Based on application, the forensic equipment and supplies market is segmented into DNA analysis, drug testing/toxicology, blood analysis, biometrics, and other applications. The drug testing/toxicology segment is expected to grow at the highest CAGR during the forecast period
Â Based on product, the forensic equipment market is segmented into instruments, reagents & consumables, evidence-drying cabinets, and low-temperature storage devices. The instruments segment is expected to account for the largest share of the forensic equipment market in 2019.
Â Based on end user, the forensic equipment and supplies market is segmented into government forensic laboratories, independent forensic laboratories, and research laboratories & academic institutes. Government forensic laboratories are estimated to be the largest end-users of forensic equipment and supplies, and this trend is expected to continue during the forecast period.
The major players operating in the forensic equipment and supplies market include Thermo Fisher Scientific (US), PerkinElmer (US), Agilent Technologies (US), Waters Corporation (US), and SCIEX (Danaher Corporation, US). Other prominent players in this market include GE Healthcare (US), QIAGEN NV (Netherlands), Spectris (UK), Air Science (US), Lynn Peavey Company (US), Sirchie (US), BVDA International (Netherlands), Safariland, LLC (US), Horiba (Japan), and Illumina, Inc. (US).
> Thermo Fisher Scientific (US) dominated the market in 2018. The company offers a broad range of forensic equipment and supplies that are used in various applications, such as forensic DNA analysis, forensic toxicology, and blood analysis. The company has a strong geographic presence across North America, Europe, the Asia Pacific, Africa, and the Middle East.
> Agilent Technologies (US) held the second position in the global forensic equipment and supplies market. The company has a strong presence in major markets such as the US, Germany, Brazil, China, Japan, Australia, Canada, France, and Spain. To strengthen its current position and gain a larger share of the market, the company mainly focuses on product commercialization.
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The forensic equipment market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. North America is estimated to be the largest regional market for forensic equipment and supplies in 2019 majorly due to the high and growing adoption of DNA testing technology in the region and the ongoing technological advancements in forensic equipment.
Mr. Aashish Mehra
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Mr. Aashish Mehra