Wellesley, MA (PRWEB) October 21, 2013
According to a new technical market research report, Forensic Technologies: New and Growing Markets from BCC Research (http://www.bccresearch.com), the U.S. market for forensic products and services was valued at more than $10.9 billion in 2012 and is expected to reach $11.2 billion in 2013. BCC Research projects the market to grow to $16.3 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 7.8% from 2013 to 2018.
Collection and evaluation of forensic evidence at the scene of a crime are of extreme importance in the law enforcement and legal sectors. This market includes many different products, many of which provide highly specific identification of chemical or biological substances. In addition, there is a large and growing segment of products related to electronic or digital evidence. This latter category includes both software and hardware to recover and analyze electronic evidence, in addition to the related data consulting services.
Advancements in forensic technology have led to significant demand for forensic products and services, particularly in the legal and law enforcement sectors. Examples include enhanced techniques for computer data and mobile device recovery (electronic evidence), successful use of “touch DNA” to prosecute property crimes, higher throughput and even “real-time” DNA sequencing machines for DNA identification, and improved fingerprint recovery from metals such as gun cartridges and bomb fragments. Other developments include the use of the chemistry of color to identify chemical and biological weapons and sensing technologies that are improving the detection of drugs and explosives at security checkpoints.
Market demand within the forensic science industry is moving toward inexpensive, reliable and efficient products that are based on techniques accepted by the scientific community. The development of accurate and fast portable products for field use has always been the key objective while designing forensic testing. Research and development spending, increasing accuracy and quality, lower costs, and rising demands will drive growth in this market for the foreseeable future.
This report discusses forensic science industry technologies, commercial products, services, research and development initiatives, and the overall market context in which forensic science exists. The report provides descriptions of technologies and products, an evaluation of trends in the application of these technologies and products, identification of notable patents, company profiles of leading companies, and measurements and forecasts of market demand through 2018. The product and service categories examined in this report include analytical instrumentation and supplies, drug identification, toxicology, fingerprinting and biometrics, DNA profiling and allied areas such as laboratory information management systems (LIMS), forensic accounting and computer/digital forensics, forensics consulting, and other important niches.
With its broad scope and in-depth analyses, this study will prove to be a valuable resource, particularly for anyone interested in the forensic market for analytical instrumentation, drug and toxicology analysis, DNA profiling, fingerprinting/biometrics, and computer forensics. Specifically, this report is intended for researchers, laboratory, and government personnel working in research or company settings, as well as business professionals involved with analytical instrumentation, drug and toxicology analysis, DNA profiling, fingerprinting/biometrics, and computer forensics. Potential investors and members of the general public interested in acquiring a business oriented view of the forensic science industry will also benefit from this report.