Forensic Technologies and Services Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis

The Global Forensic Technologies and Services Market was valued at US$ 10,035.1 million in 2015 and is projected to expand at a CAGR of 12.4% during the forecast period (2016-2024), as highlighted in a new report published by Coherent Market Insights. Rise in crime activities globally will fuel demand for DNA profiling forensic services hence augment the market growth.
DNA is one of the most important differentiating factor for all living beings. The base of this different nature and individuality lies in the genetic material encoded by each organism in its deoxyribonucleic acid. As every person has a unique DNA sequence, it becomes easy for a forensic expert to identify the criminal, it states as human or a particular species of bird or animal, individuals within each group will have their own exclusive sequences. The DNA profiling helps the experts with genetic information which is stored in DNA cells, with the detailed linear order of spirals of four chemicals (called nucleotides) constitute individual genes. These genetic factor or genes translate the specific protein products that are needed for the cells of an organism to multiply and function. In each individual, the deoxyribonucleic acid in every cell is split into 23 pairs of chromosomes. When the coding sequence is disrupted by long stretch DNA, then it is called junk DNA and in biotechnology these changes are captured and recorded forms the basis of DNA profiling which further allows scientists to discriminate between individuals
There are two types DNA fingerprinting tests globally and are referred as Restriction fragment length polymorphism and polymerase chain reaction and amplification of short tandem repeats (STRs). Other diagnostic methods exist, but these methods lack accuracy and precision.
Restriction fragment length polymorphism is considered as more efficient because of the sample size and fresh DNA sample utility. Though the Restriction fragment length polymorphism is relatively expensive and takes a longer time to detect the substance, the experts prefer this as it has very negligible chances of error in detecting the junk DNA as compared to short tandem repeats (STRs). Some of the application of DNA fingerprinting are Paternity and Maternity Determination, Personal Identification, Diagnosis of Inherited Disorders, Development of Cures for Inherited Disorders, Detection of AIDS, and Breeding Program etc.
Key takeaways of the forensic technologies and services market:
• The global forensic technologies and services market is expected to expand at a CAGR of 12.4% during the forecast period (2016-2024) as there exists a huge unrealized market especially in Asia Pacific, Latin America, Middle East and Africa
• The DNA profiling segmented under by type will dominate the forensic technologies and services market as there are many unresolved crime cases which can only be solved after DNA identification
• Laboratory Forensic dominates the market in terms of market share and revenue throughout the forecast period.
• Some of the major players involved in global forensic technologies and services market are Agilent Technologies, Inc., Creative Forensic Services, eDirect Impact, LLC, Capsicum Group LLC, Computer Forensic, Inc., Illumina, Inc., BAE Systems plc, and others.

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