Abstract
Since there are well over 500 companies and research organizations worldwide involved in biosensor development. It is important to note that the major biosensor players were identified in terms of the following criteria: publication output / quality, scientific impact, reputation, and size. The commercialization of biosensor technology has significantly lagged behind the research output. The rationale behind the slow and limited technology transfer could be attributed to cost considerations and some key technical barriers.. Successful biosensors must be versatile to support interchangeable biorecognition elements, and in addition miniaturization must be feasible to allow automation for parallel sensing with ease of operation at a competitive cost. A significant upfront investment in research and development is a prerequisite in the commercialization of biosensors. The progress in such endeavors is incremental with limited success, thus, the market entry for a new venture is very difficult unless a niche product can be developed with a considerable market volume.
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