Molecular Forensics Market worth $2.75 Billion by 2030 - Exclusive Report by InsightAce Analytic

Global Molecular Forensics Market is estimated to reach over USD 2.75 billion by 2030, exhibiting a CAGR of 10.44% during the forecast period.

NEW JERSEY, SATTE NJ, USA, October 4, 2022 /EINPresswire.com/ -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Molecular Forensics Market By Products (Kits And Consumables, Instruments, Software And Other Products), Technology (Polymerase Chain Reaction (PCR) (Real-time PCR (q-PCR) and Digital PCR (d-PCR)), capillary electrophoresis, NGS (SNP and STR Sequencing and mtDNA Sequencing), mass spectrometry (MS, Tandem MS and MS-FTIR) and other technologies), Application (Radioactive Toxicology, Nucleic Acid Analysis, Forensic Databasing, Microbial Forensics, And Other Applications), End-Users (Law Enforcement, Disaster Management, Hospitals And Healthcare Providers, And Other End Users)- Trends, Industry Competition Analysis, Revenue And Forecast To 2030."

The Global molecular forensics market is estimated to reach over USD 2.75 billion by 2030, exhibiting a CAGR of 10.44% during the forecast period.
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The focus of molecular forensics is on molecular methods like repetitive deoxyribonucleic acid (DNA) and deoxyribonucleic acid (DNA) profiling in the human genome, which are in higher demand as deoxyribonucleic acid (DNA) testing becomes more widely used. Identification of people already in the system is made using molecular forensic techniques. The development of new genetic markers could perhaps surpass the drawbacks of deoxyribonucleic acid (DNA) profiling techniques currently in use. During the forecast period, factors including rising molecular forensics applications in criminal investigations, rapid adoption of advanced hybridization techniques in molecular tests, and expansion of molecular forensics-focused laboratories and research centres are anticipated to propel global market revenue growth. In the upcoming years, improvements in human forensic casework are anticipated due to developments in genomics, genetics, and molecular biology. Additional factors expected to propel market expansion in the future include a strong focus on enhancing human forensic casework, increased investments in R&D activities, and government initiatives to assist forensic research.

Prominent Players in the Molecular Forensics Market:
Agilent Technologies, Inc.
Illumina, Inc.
QIAGEN N.V.
Bio-Rad Laboratories, Inc.
Promega Corporation
Eurofins Scientific SE
General Electric Company
Merck KGaA
LGC Limited
Thermo Fisher Scientific Inc

Market Dynamics:
Drivers-
Collections of biological samples (if retained), computerized DNA profiles, and other information like ethnicity and criminal history that may help identify offenders, as well as organism genetics, are all included in molecular databases. This database will be relevant if there is a match between the suspect's DNA profile and the DNA profile from the crime scene. With the lack of government funding, DNA databases have historically been limited. The standards and laws governing DNA technology and molecular databases in forensics are changing with the rising crime rate and the volume of outstanding cases. This growing government support and legislation enhance the usage of DNA testing kits and related goods in forensics. Additionally, in crime labs worldwide, scientists and technologists are collaborating to advance the technology that can prosecute criminals and successfully protect the innocent from detention. Innovations in forensic science research and development (R&D) address and improve forensic testing accuracy and effectiveness.

Challenges:
Despite the many advantages that molecular databases offer, creating such a database and revising the legislation has drawn significant criticism. The implementation of the act in several nations is being hampered by concerns about the provision of permission, collecting samples, the chain of custody, and privacy issues. DNA from a blood drop or hair bulb containing a hair shaft is considered to enhance the risk that a person may acquire a terminal or chronic disease. Additionally, in certain states/countries, unrestricted DNA collection and investigation by the police is seen as DNA theft concerning genetic information theft and blackmail that compromises the donor's identity. Thus, the use of molecular technology is being constrained by privacy issues brought on by DNA testing and inconsistent rules.

Regional Trends:
During the projected period, North America is anticipated to have the biggest revenue share in the global market. Rising investments in molecular forensic research, increased criminal cases throughout the region, rapid adoption of improved PCR-based techniques, and extensive use of molecular forensic testing for criminal investigation can all contribute to revenue growth. The market expansion of molecular forensics in North America is driven by technological advancements in forensic sciences and high investigation consent for advanced forensic procedures like DNA profiling and biometric analysis techniques. The market in North America has been flourishing due to the availability of sophisticated forensic laboratories equipped with cutting-edge forensic technologies. The area with the rapid rate of growth in the global molecular forensic market is the Asia Pacific. With the regulatory clearance of tests in China, Australia, Japan, and other Asia Pacific nations, the demand for molecular forensics has experienced tremendous growth in recent years. As further cutting-edge developments are made in this area, and the government supports the use of the technique in the inquiry process, the technology will see increased acceptance.

Recent Developments:
• In June 2021, QIAGEN N.V. announced a commercialization partnership with Verogen, a human identification specialist based in San Diego, to provide unique tools and comprehensive support for human identification (HID) workflows in both companies' laboratories.
• In October 2020, Bruker announced the release of the Vutara VXL. It is a high-resolution fluorescence microscope designed for use in nanoscale biological imaging. The system includes single-molecule localization technology, which improves spatial genomics capabilities for study.

Key Developments: https://www.insightaceanalytic.com/report/global-molecular-forensics-market/1378

Segmentation of Molecular Forensics Market-
By Product
• Kits and Consumables
• Instruments
• Software and Other Products
By Technology
• Polymerase Chain Reaction (PCR)
o Real-time PCR (q-PCR)
o Digital PCR (d-PCR)
• Capillary Electrophoresis
• NGS
o SNP and STR Sequencing
o mtDNA Sequencing
• Mass Spectrometry
o MS
o Tandem MS
o MS-FTIR
• Other Technologies
By Application
• Radioactive Toxicology
• Nucleic Acid Analysis
• Forensic Databasing
• Microbial Forensics
• Other Applications
By End User
• Law Enforcement
• Disaster Management
• Hospitals and Healthcare Providers
• Other End Users
By Region-
• North America-
o US
o Canada
o Mexico
• Europe-
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe
• Asia-Pacific-
o China
o Japan
o India
o South Korea
o South East Asia
o Rest of Asia Pacific
• Latin America-
o Brazil
o Argentina
o Rest of Latin America
• Middle East & Africa-
o GCC Countries
o South Africa
o Rest of the Middle East and Africa

For Information: https://www.insightaceanalytic.com/report/global-molecular-forensics-market/1378

Priyanka Tilekar
Insightace Analytic Pvt. Ltd.
+1 551-226-6109
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