REPORT HIGHLIGHTS

The global market for biosensors and other bioelectronics is projected to grow from $6.1 billion in 2004 to $8.2 billion in 2009, at an AAGR (average annual growth rate) of about 6.3%. Biosensors, particularly glucose sensors, accounted for nearly all of the market in 2003. Sales of other bioelectronic devices are projected to increase significantly over the next five years. Continued success in commercializing nonsensor bioelectronic technologies largely will depend on the extent to which more major companies focus their attention on bioelectronic technologies. Biomedical and life sciences applications dominate the market, accounting for 99%, with environmental monitoring and remediation applications a distant second.

Global Market for Biosensors and Other Bioelectronics, 2003-2009 ($ Billions)          Source: BCC, Inc.

INTRODUCTION

Biosensors sometimes are broadly defined as any device designed to gather biological information, such as the presence of a particular biomolecule, and convert it into an analytical signal. This report uses the stricter definition of biosensors used by The National Research Council (NRC), part of the U.S. National Academy of Sciences. The NRC has defined a biosensor as a detection device that incorporates a) a living organism or product derived from living systems (e.g., an enzyme or an antibody) and b) a transducer to provide an indication, signal, or other form of recognition of the presence of a specific substance in the environment.

New markets for biosensors and other bioelectronic devices are developing. For example, heightened security concerns in the wake of the 9/11 terrorist attacks have focused attention on the development of new sensors to detect dangerous chemical and biological agents. The first protein-based optical memory media have begun appearing on the market.

This BCC report identifies and describes segments of the biosensors and other bioelectronics markets with the greatest commercial potential in the near to midterm, projects future demand in these segments, and evaluates the challenges that must be overcome for each segment to realize its full commercial potential.

Andrew McWilliams

Data and analysis provided courtesy of  BUSINESS COMMUNICATIONS COMPANY, INC., 25 Van Zant Street, Norwalk, CT 06855,  Telephone: (203) 853-4266; ext. 309,  Email: publisher@bccresearch.com