Forensic Equipment and Supplies Market Growing at a CAGR of 7.7%

Forensic Equipment and Supplies Market

According to research report the global forensic equipment and supplies 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. 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 the major factors driving the growth of the forensic equipment and supplies market.

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The global forensic equipment and supplies market is segmented based on product, application, end user, and region. Based on product, the market is segmented into instruments, reagents & consumables, evidence-drying cabinets, and low-temperature storage devices. The reagents & consumables segment is expected to witness the highest growth rate during the forecast period primarily due to the public-private investments in forensic sciences, rising awareness on DNA profiling in criminology across emerging & less-developed countries, and the growing focus of research laboratories on improving their research pipelines.

Based on application, the forensic equipment and supplies market is classified into DNA analysis, drug testing/toxicology, blood analysis, biometrics, and other applications. Drug testing/toxicology is expected to be the fastest-growing application segment in the market owing to the growing availability of innovative toxicity analysis platforms worldwide, increasing number of drug testing laboratories across major countries, and the rising incidence of drug abuse and related criminal cases.

Based on end user, the forensic equipment and supplies market is segmented into government forensic laboratories, independent forensic laboratories, and research laboratories & academic institutes. The government forensic laboratories segment is expected to register the highest growth rate during the forecast period. The high growth of this end-user segment can be attributed to the increasing number of crimes, drug abuse cases, and paternity/maternity disputes across major countries and the increasingly stringent guidelines for criminal investigations and their strict implementation across mature countries.

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The global forensic equipment and supplies market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific market is estimated to register the highest growth rate during the forecast period majorly due to the increasing number of R&D activities, growing awareness about the applications of forensic equipment in criminal investigations, increasing number of crimes, and the increasing focus by governments in several Asia Pacific countries on clearing the pending backlog of criminal cases for effective jurisdiction and law enforcement. Owing to the high-growth potential of the region, leading product manufacturers are undertaking strategic initiatives such as market expansion and product commercialization to increase their presence in the Asia Pacific market.