According to a report by Fior Markets it is expected that the Global forensic equipment and supplies market is likely to witness a growth of $5.08 Billion between the years 2018-2026.
It was also revealed that a CAGR of 10.3% is also expected during the time period 2019 – 2026. The nation that is currently dominating the market is the USA as a result of public-private investments in the forensic sector.
The USA is also responsible for the advancements and innovation in technology when it comes to forensic equipment and also the commercialisation of these equipments. The market is being simulated by top market players to increase growth in the region.
Some of the leading names among the best forensic engineering agency and the forensic industry include companies such as Thermo Fisher Scientific, SCIEX, Agilent, Waters corporation, Air science and BVDA amongst others.
All these companies are offering great opportunities and are focusing on innovation and venturing their capital in order to gain a market share.
The CEO of Envista Forensics, Grover Davies, recently made a huge acquisition. He acquired a leading company that provides high technology equipment based in Denmark named AREPA. Now Envista has become a leading company in providing forensic engineering.
Another popular segment of the industry is classified instruments, reagents and consumables devices which accumulated approximately $1.64 Billion in 2018. As the investigation of criminal cases grows privately and on a government level, forensic laboratories are becoming an increasing demand throughout the global market.
Drug testing is also a major segment and values up to $1.69 billion in 2018.