The Molecular Forensics Market Size is valued at 1351.86 Million in 2023 and is predicted to reach 3099.92 Million by the year 2031 at a 11.18 % CAGR during the forecast period for 2024-2031.
The crucial scientific field of molecular forensics provides a thorough treatment of the value of molecular analysis in forensic research. It entails using forensic examination to implement molecular analysis technology. The investigation and establishment of relevant facts regarding criminal, administrative, and civil hearings are frequently done using molecular forensics. The market for molecular forensics is predicted to expand significantly due to rising security concerns, technological advancements in diagnostics, and growing awareness of the catastrophic consequences of forensics use.
The market for molecular forensics is expected to grow significantly as a result of increased security concerns at both domestic and foreign borders and ports, an increase in crimes like sexual assault, terrorist attacks, kidnapping, gun violence, and homicides, and a shortage of industry players to meet the rising consumer demand. The molecular forensic market is undergoing significant research and development and new product introductions, and this motivates producers to use efficient and effective methods to meet the rising client demand. Additional factors anticipated to propel market expansion in the future include a strong focus on enhancing human forensic case-work, increased investments in R&D activities, and government initiatives to assist forensic research.
However, over the projected period, constraints like high beginning costs, a lack of skilled workforce to handle sophisticated techniques, and uncertainty regarding the accuracy of outcomes from present technologies may restrain market expansion to some extent. The implementation of the legislation in several nations is being hampered by concerns about the provision of permission, the collecting of samples, the chain of custody, and privacy issues. Therefore, one of the main barriers to the molecular forensic market is the lack of consistency in regional government legislation.
Market Segmentation:
The molecular forensics market is segmented on the basis of products, technology, applications, and end-users. Based on product, the market is segmented as kits and consumables, instruments, software and other products. Based on technology, the market is characterized by polymerase chain reaction (PCR) (Real-time PCR (q-PCR) and Digital PCR (d-PCR)), capillary electrophoresis, NGS (SNP and STR Sequencing and mtDNA Sequencing), mass spectrometry (MS, Tandem MS and MS-FTIR) and other technologies. Based on applications, the market is characterized by radioactive toxicology, nucleic acid analysis, forensic databasing, microbial forensics, and other applications. Based on end-users, the market is characterized by law enforcement, disaster management, hospitals and healthcare providers, and other end users.
Based On Technology, The Next-Generation Sequencing (NGS) Segment Is Accounted As A Significant Contributor To The Molecular Forensics Market.
The vast DNA sequencing methods that support genomic research are referred to as next-generation sequencing (NGS). Along with ongoing technological improvements in sequencers, the widespread adoption of Next-Generation Sequencing (NGS) technologies due to their low cost and remarkable efficiency are some factors fostering the expansion of next-generation sequencing (NGS). In the coming years, it is also projected that growing technological developments in next-generation sequencing (NGS) equipment and technologies will significantly boost the segment's size. Through increased investment in next-generation sequencing (NGS) technologies worldwide, next-generation sequencing (NGS)-related R&D has risen to unprecedented heights. More demand for genome mapping programs and increased next-generation sequencing (NGS) use drive the segment expansion.
The Nucleic Acid Analysis Segment Witnessed Growth At A Rapid Rate.
The idea of nucleotide conservation for genomic sequences across distinct strains is the foundation for nucleic acid detection diagnostics, which enables the detection using multiple assays. Messenger RNA is a useful source for specimen examination in forensics with tissue-specific patterns for many transcripts. The primary drivers of the worldwide nucleic acid analysis sector are the rise in PCR kit demand and technological development in the research and healthcare sectors. The demand for technologically advanced diagnostic tools and rising government and commercial agency investment in developing novel biotechnological diagnostic procedures are anticipated to support the expansion of nucleic acid testing.
In The Region, The North American Molecular Forensics Market Holds A Significant Revenue Share.
During the projected period, North America is anticipated to have the most significant revenue share in the global market. Rising investments in molecular forensic research, increased criminal cases throughout the region, rapid adoption of improved PCR-based techniques, and extensive use of molecular forensic testing for criminal investigation can all contribute to revenue growth. Technological developments in the forensic sciences, rising investigation consent for sophisticated forensic processes like DNA profiling, and biometric analysis methods are driving the market expansion of molecular forensics in North America. With the availability of advanced forensic laboratories outfitted with cutting-edge forensic technologies, the market in North America has been expanding. In addition, the Asia Pacific region of the world's molecular forensic market is growing at the fastest rate. The demand for molecular forensics has grown significantly in recent years due to regulatory approval of tests in China, Australia, Japan, and other Asia Pacific countries. The technology will gain popularity as more innovative advancements are achieved in this field, and the government promotes using the method in the investigation process.
Competitive Landscape
Some Major Key Players In The Molecular Forensics Market:
- Agilent Technologies, Inc.
- Illumina, Inc.
- QIAGEN N.V.
- Bio-Rad Laboratories, Inc.
- Promega Corporation
- Eurofins Scientific SE
- General Electric Company
- Merck KGaA
- LGC Limited
- Thermo Fisher Scientific Inc.
Molecular Forensics Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 1351.86 Million |
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Revenue Forecast In 2031 |
USD 3099.92 Million |
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Growth Rate CAGR |
CAGR of 11.18 % from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Product, Technology, Application, End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Agilent Technologies, Inc., Illumina, Inc., QIAGEN N.V., Bio-Rad Laboratories, Inc., Promega Corporation, Eurofins Scientific SE, General Electric Company, Merck KGaA, LGC Limited, and Thermo Fisher Scientific Inc.. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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