The National Institute of Justice and the Forensic Technology Center of Excellence's National Opioid and Emerging Drug Threats Policy and Practice Forum – Forensic Technology Center of Excellence

According to a new report published by Allied Market Research, titled, “Forensic Technology Market by Product and Service: Global Opportunity Analysis and Industry Forecast, 2016-2023,” the global forensic technology market was valued at $9,458 million in 2016, and is projected to reach $22,905 million by 2023, growing at a CAGR of 13.4% from 2017 to 2023. Biometric devices segment held more than one-third share of the total market in 2016.

Advent of new technologies such as alternative light photography, ballistic photography and DNA sequencer and rise in incidence of crime are the key factors that drive the market growth. In addition, rise in government initiatives to support forensic research such as funding availability are anticipated to fuel the demand for forensic technologies globally. However, lack of results obtained from these technologies restrict the market growth.

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COVID-19 scenario analysis:

1) The COVID-19 impact on the Forensic technology market is unpredictable and is expected to remain in force till the fourth quarter of 2021.

2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.

3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.

4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.

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Key Findings of the Forensic Technology Market:

•The services segment is expected to grow at a significant CAGR of 15.4%, during the forecast period.

•The chemical analysis segment accounted for more than one-fourth share of the global forensic technologies by services market in 2016.

•Biometric devices accounted for nearly two-fifths share of the global forensic technologies market by product in 2016.

•France and Germany collectively contributed for nearly one-third share of the European forensic technology market in 2016.

•Japan is the major shareholder in the Asia-Pacific forensic technology market, accounting for more than one-fourth share in 2016.

List of Key Players Profiled in the Report:

The major companies profiled in the report are 3M Company, Agilent Technologies Inc., Belkasoft, Eurofins Medigenomix Forensik GmbH, GE Healthcare, LGC Limited, MorphoTrust USA, NMS Labs, Thermo Fisher Scientific Inc., and Ultra Electronics Holdings plc.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.