Published Date: 30-Nov-2022
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According to a new report, published by KBV research, The Global Forensic Genomics Market size is expected to reach $1 billion by 2028, rising at a market growth of 14.4% CAGR during the forecast period.
The Paternity & Familial Testing segment is showcasing a CAGR of 14.7% during (2022 - 2028). When similar biological evidence is available, paternity, maternity, and ancestry can be determined with high accuracy using DNA analysis. An approach used to match individuals to samples of hair, saliva, semen, blood, or other DNA sources is genomic fingerprinting or DNA typing. New approaches for the initial screening test throughout new pregnancies are provided by the advent of effective and highly sensitive DNA sequencing techniques.
The Kits & Consumables segment acquired maximum revenue share in the Global Forensic Genomics Market by Product in 2021 thereby, achieving a market value of $501 Million by 2028. Clippers, pipettes, needles, reaction tubes, fingerprint powders, brushes, vials, labels, and crime scene equipment are all part of the consumables category. The percentage of criminal investigations is increasing so, governments are putting more effort into removing obstructions in criminal cases.
The Next-generation Sequencing segment has shown the growth rate of 14.6% during (2022 - 2028). The segment's expansion can be largely ascribed to NGS's high throughput capability and low cost. It has become a crucial tool for many businesses and genomic researchers. For instance, Verogen Inc. and Cellmark Forensic Services launched a forensic NGS solution. Verogen's MiSeq FGx Sequencing System and ForenSeq DNA Signature Prep Kit will aid in the resolution of challenging relationship situations and investigations and give the forensic community cutting-edge phenotypic insights.
The North America market dominated the Global Forensic Genomics Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $395.3 Million by 2028.The Europe market is exhibiting a CAGR of 14.2% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 15% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of General Electric (GE) Co. (GE Healthcare), Eurofins Scientific Group (Eurofins Discovery), Gene by Gene, Ltd., Verogen, Inc., Agilent Technologies, Inc., Illumina, Inc., Neogen Corporation, and Thermo Fisher Scientific, Inc.
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