Modern day sensors have come a long way from their predecessors, which used transistors made of bulky semi-conducting materials. Advent of micro fabrication technology has led to miniaturization of biosensors. Indeed under stages of development currently are nano-sized electronic components. However, biosensors market is characterized by slower pace of commercialization, which is primarily attributed to high cost, availability of effective alternative technologies, and issues related to stability, sensitivity, and quality assurance. Biosensors in medical applications remains a hugely untapped market, attracting several new players, who in hopes of leveraging dormant market opportunities, are foraying into the marketplace.
As stated by the recent report published by Global Industry Analysts Inc, United States and Europe dominate the global market for medical biosensors, collectively capturing 69.73% share estimated in 2008. The market in Asia-Pacific is projected to reach US$794 million by the year 2012. In medical diagnostics, majority of the biosensors (about 90%) are included in blood gas analyzers, electrolyte analyzers, glucose meters, and metabolite analyzers.
Over half of the biosensors produced worldwide are employed in glucose meters. With a diabetes epidemic underway, there exists strong growth opportunities for diabetes management tools, such as glucose meters. Over the years, glucose-monitoring meters have undergone a sea change, with recent entries featuring wireless and sensor technologies and noninvasive glucose monitors. Sales in United States, the largest market for Glucose biosensors is expected to reach US$1.28 billion by 2012. In Europe, Germany, United Kingdom and France, together, collar 55.3% of the biosensors market estimated in 2008. Bioluminescence-based biosensors gained immense popularity as a screening procedure for testing water quality in the key nations such as France, Germany, Spain and Sweden. Revenues in the German Environmental Biosensors market are projected to climb at the fastest rate to reach US$32.7 million by the year 2015.
The biosensors industry comprises of two types of participants including companies developing biosensor-based devices and developers of biosensor technology. Key players engaged in developing biosensor technology include AgaMatrix Inc., Cranfield Biotechnology Center, LifeSensors Inc., M-Biotech, and Nova Biomedical. Leading manufacturers of biosensor-based devices include - Abbott Point Of Care Inc., Affinity Sensors, Neosensors Limited, Siemens Healthcare Diagnostics Inc, Animas Corporation, LifeScan Inc., Medtronic Diabetes, and Roche Diagnostics Ltd.
The report titled "Biosensors in Medical Diagnostics: A Global Strategic Business Report" published by Global Industry Analysts, Inc., covers major market dynamics, trends, issues, and competition pertaining to the market. The report enumerates recent developments, mergers, acquisitions and other strategic industry activities. The report analyzes the market across three major product categories, namely Medical Biosensors (Glucose Biosensors and Other Medical Biosensors), Environmental Biosensors, and Other Biosensors. The report reviews various factors impeding the commercialization of biosensors. Apart from exploring applications in medical diagnostics, the report offers a broader perspective of biosensors by examining environmental, and industrial applications. Analysis is presented for established and emerging markets including United States, Canada, Japan, France, Germany, United Kingdom, Italy, Asia-Pacific, and Latin America.