Analysis on Impact of COVID-19 - Forensic Technologies Market 2020-2024 | Evolving Opportunities with AB SCIEX LLC and Agilent Technologies Inc. | Technavio

LONDON--(BUSINESS WIRE)--The global forensic technologies market is expected to grow by USD 8.88 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 8%.

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The market is driven by the increasing crime rate demanding better investigation methods. In addition, the growing importance of next-generation sequencing (NGS) is anticipated to boost the growth of the forensic technologies market.

Globally, crime rates have increased over the years. This has created a need for advanced technology and intelligence in solving crimes. For instance, in 2016, the global average homicide rate in OCED countries stood at 4.1 murders per 100,000 inhabitants. The rise in the number of such incidences and sophistication of crimes has resulted in the growth of unresolved cases. This has, in turn, led to an increase in the number of crime laboratories worldwide, thus creating a significant demand for high-quality forensic products and services. These factors are fueling the growth of the global forensic technologies market.

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Major Five Forensic Technologies Companies:

AB SCIEX LLC

AB SCIEX LLC operates its business through the Unified product segment. The company offers a comprehensive range of forensic analysis solutions for anti-doping and forensic toxicology that are easy to incorporate into existing laboratory operations.

Agilent Technologies Inc.

Agilent Technologies Inc. operates its business through segments such as Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The company offers a line of products such as controlled substances/seized drugs, doping control, forensic toxicology, and workplace drug testing among others.

Cytiva

Cytiva operates its business through the Unified segment. The company offers a line of laboratory filtration products such as blot membranes, dipstick pads, lateral flow pads, and flow through membranes among others under the product line Whatman DX components.

Illumina Inc.

Illumina Inc. operates its business through the Unified segment. The company offers next-generation sequencing (NGS) technology and informatics that increases the degree of certainty in the focused power of NGS-based forensic genomics approaches.

LGC Ltd.

LGC Ltd. operates its business through the Unified segment. The company offers a line of products such as forensic blood toxicology, forensic analysis for explosives, and Forensic Isotope Ratio Mass Spectrometry (FIRMS) among others.

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Forensic Technologies Market Technique Outlook (Revenue, USD Billion, 2020-2024)

• Capillary electrophoresis
• PCR
• Others

Forensic Technologies Market Geography Outlook (Revenue, USD Billion, 2020-2024)

• North America
• Europe
• APAC
• South America
• MEA

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