Report: Sensor market to reach $4B by 2007

April 2, 2003 — Despite interest and expectations heightened by war and terrorism, development of MEMS sensors for real-time detection and monitoring of biological and chemical weapons remains a few years away, according to a new report.

The report by In-Stat/MDR, “Biological and Chemical Sensors: Watching the Next Generation Evolve,” said many companies are focusing product development in weapons detection. That’s one of several areas expected to push revenues for the market from $2.3 billion in 2002 to nearly $4 billion in 2007, at a compound annual growth rate of 11.5 percent.

The report, which costs $3,495, also identified biosensors in blood glucose testing as the biggest market now and in the future. Microfluidics coupled with multiple sensor technologies is a distant second, although that sector is growing as more companies enter the field and launch products.

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