Market Analysis of Biosensors for Food Safety

Abstract

This paper is presented as an overview of the pathogen detection industry. The reviewincludes pathogen detection markets and their prospects for the future. Potential markets include themedical, military, food, and environmental industries. Those industries combined have a market sizeof $563 million for pathogen detecting biosensors and are expected to grow at a compounded annualgrowth rate (CAGR) of 4.5%. The food market is further segmented into different food productindustries. The overall food pathogen testing market is expected to grow to $192 million and 34million tests by 2005. The trend in pathogen testing emphasizes the need to commercializebiosensors for the food safety industry as legislation creates new standards for microbial monitoring.With quicker detection time and reusable features, biosensors will be important to those interested inreal time diagnostics of disease causing pathogens. As the world becomes more concerned with asafe food and water supply, the demand for rapid detecting biosensors only increases.