Market Opportunities

Resource, Mar 2009 by Alocilja, Evangelyn

To sum it up

There is a growing need for biosensors in the food industry. Potential markets include microbial food safety, food defense, pesticide residue screening, testing for genetically modified organisms, government inspection agencies, and anyone else seeking a diagnostic tool for detecting pathogens quickly and accurately. In 2000, the U.S. market for food testing products was close to $150 million. In 2009, it is estimated to be $383 million at a CAGR of 9.9 percent. These markets are expected to grow annually as legislation creates new standards for microbial monitoring. Products with quicker detection times and reusable features will be much coveted by those interested in real-time diagnostics of disease-causing pathogens. As the world becomes more concerned with safe and secure food, the demand for rapid biosensors will only increase.

For further information

Alocilja, E. C., and S. Radke. 2003. Market analysis of biosensors for food safety. Biosensors and Bioelectronics Journal 18(5-6): 841-846.

BCC Report. 2001. The growing food testing: Highlighting pathogens, pesticides and GMOs. Report Code: FOD011 C. Available at: www.bccresearch.com/report/FOD011C.html.

Business Communications Company. 2000. The Growing Food Testing Business: Pathogens, Pesticides, Genetically Modified Organisms. Norwalk, Conn.

Business Wire. 2007. Market for medical biosensor products reaches $7 Billion. 26 April 2007. Available at: http://findarticles.com/p/articles/mi_mOEIN/ is_/ai_n272 16942.

Buzby, J. C., T. Roberts, C. T. J. Lin, and J. M. MacDonald. 1996. Bacterial foodborne disease: Medical costs and productivity losses. Agricultural Economics Report No. 741:100. Washington, D.C.: USDA Economic Research Service.

Frost and Sullivan. 1997. U.S. Rapid microbiology test market. Report No. A5601. New York, NY.

Mead, P. S., L. Slutsker, V. Dietz, L. F. McCaig, J. S. Bresee, C. Shapiro, P. M. Griffin, and R. V. Tauxe. 1999. Foodrelated illness and death in the United States. Emerging Infectious Diseases 5(5): Sept.-Oct.

Strategic Consulting. 2000. Pathogen testing in the U.S. food industry. Woodstock, Vt.

ASABE member Evangelyn Alocllja is an associate professor, Michigan State University Department of Biosystems and Agricultural Engineering, East Lansing, USA, alocilja@msu.edu.