Photonic sensing technology and in particular the field of fiber optic sensing, has entered a period of dynamic
market growth. Studies of anticipated world demographic shifts and climate change projections suggest areas in which
significant opportunities for the use of the technology exist and will continue to grow. In this paper, the general currents
and trends in photonic/fiber optic sensor technology will be discussed with a focus upon fiber optic biosensors. In 2004,
the fiber optic biosensor market was estimated to be in the $6-8B range, while this year, its value is projected to be in the
$7-11B range, an annual growth rate of between 6 and 10% during the period. The market is substantial with continued
growth expected over the next 5 years at least. It is large enough and growing fast enough to offer a significant
opportunity for penetration by appropriate fiber optic biosensor products.