Global Molecular Forensics Market to Reach $2,595.9 Million by 2029

FREMONT, California, Nov. 14, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research titled "Global Molecular Forensics Market - Analysis and Forecast, 2019-2029", the global molecular forensics market was valued at $996.9 million in 2018 and is anticipated to grow over $2,595.9 million by 2029. The global molecular forensics market is expected to grow at a CAGR of 9.09% during the forecast period from 2019 to 2029. The evolution of the market is aided by the impressive growth in the underlying manufacturing market.

Browse 01 Market Data Tables and 149 Figures spread through 184 Pages and in-depth TOC on "Global Molecular Forensics Market"

With the completion of the Human Genome Project (HGP), a new wave of technologies, called next-generation sequencing (NGS) was introduced in the healthcare industry. Polymerase chain reaction (PCR) and NGS have fundamentally changed the genomics research and enabled the scientists to research extensively on the gene variants to specific molecular diagnostics. These technologies have aided the development of targeted therapeutics depending on the genetic profile of an individual. The completion of the project, subsequently, created platform for the development of precision medicine.

One of the revolutionary breakthroughs which NGS has resulted in is molecular forensics. Molecular forensics involves a detailed study of an individual information to identify and characterize the molecular sequences, resulting in target-based identification. This method approach based on biomarker study is perceived to be promising in driving a paradigm shift in the molecular forensics industry, facilitating elimination of uncertainty pertaining to the trial-and-error method of medications, and certainly eliminating unnecessary healthcare spending. With sequencing being the pivotal step involved in biomarker study and in the field of genetics, the development of the sequencing technologies played a crucial role in the evolution of molecular forensics.

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According to Nitish Kumar Singh, Lead Analyst at BIS Research, "North America is the leading contributor to the molecular forensics market and contributed approximately 42.18% to the global market value in 2018. This region is anticipated to grow at a CAGR of 8.71% during the forecast period 2019-2029 and continue dominating the global market in 2029 as well. However, the Asia-Pacific region is expected to grow at an impressive CAGR of 9.50% during the forecast period from 2019-2029. The Europe region also contributed a significant share of 27.27% to the global market and is anticipated to grow at a CAGR lower than Asia-Pacific but higher than North America during the forecast period from 2019 to 2029."

Research Highlights:

• Nucleic acid analysis is expected to witness a robust CAGR of 8.99% during the forecast period 2019-2029. However, the molecular forensics market for forensic databasing is anticipated to witness the fastest growth during the forecast period 2019-2029.
• Thermo Fisher Scientific Inc. is currently the largest shareholder in the global molecular forensics market. This market dominance is attributed to the company's presence within the market through its expansive product portfolio, led by dedicated products.

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This market intelligence report provides a multi-dimensional view of the global molecular forensics market in terms of market size and growth potential. This research report aims at answering various aspects of the global molecular forensics market with the help of key factors driving the market, restraints that can possibly inhibit the overall growth of the market, and the current growth opportunities that are going to shape the future trajectory of the market expansion.

Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches and approvals, partnerships, collaborations, business expansions, as well as mergers and acquisitions. The research report provides a comprehensive analysis of the product sales, manufacturers, service providers, and trend analysis by segment, and growth share analysis by region. Additionally, the report provides a comprehensive attractive analysis and opportunity analysis for the entire molecular forensics market for 2018 and 2029.

This report is a meticulous compilation of research on more than 50 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also comprises 16 detailed company profiles including several key players, such as Agilent Technologies, Inc., Illumina, Inc., QIAGEN N.V., Bio-Rad Laboratories, Inc., Promega Corporation, Eurofins Scientific SE, General Electric Company, Merck KGaA, LGC Limited, and Thermo Fisher Scientific Inc. among others.

Key Questions Answered in the Report

• What was the revenue generated by the global molecular forensics market in 2018 and how much is it expected to grow during the forecast period?
• What are the major market drivers, challenges, and opportunities in the market?
• What are the underlying structures resulting in the emerging trends within the global molecular forensics market?
• What are the gaps in regularizing optimum molecular forensics? How are these gaps being tackled?
• What are the key development strategies which are implemented by the major players in order to sustain in the competitive market?
• What are the key regulatory implications in developed and developing regions for cell and gene therapy?
• How each segment of the molecular forensics market is projected to grow during the forecast period from 2019 to 2029, on the basis of
• Product, including kits and consumables, instruments, and software and other products
• Technology, including polymerase chain reaction (PCR), capillary electrophoresis, next-generation sequencing (NGS), mass spectrometry, and other technologies
• Application, including radioactive toxicology, nucleic acid analysis, forensic data basing, microbial forensics, and other applications
• End user, including law enforcement, disaster management, hospitals and healthcare providers, and other end users
• Region, including North America, Europe, Asia-Pacific, Latin-America, and Rest-of-the-World (ROW)
• Who are the key manufacturers and service providers in the global molecular forensics market, and what are their contributions?
• What is the growth potential of each major molecular forensics manufacturer?

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