The severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), commonly known as COVID-19, created rack and ruin and erupted as a global epidemic. Nearly 482.3 million cases and approximately 6.1 million deaths have been reported. The World Health Organization (WHO) designated it an international medical emergency on January 30, 2020; shortly in March 2020, it was declared a pandemic. To address this situation, governments and scientists around the globe were urged to combat and prevent its spread, mainly when no treatment was available. Presently, quantitative real-time polymerase chain reaction (qRT-PCR) is the most widely utilized technique for diagnosing SARS-CoV-2. But this method is cumbersome, tedious, and might not be quickly accessible in isolated areas with a circumscribed budget. Therefore, there is a quest for novel diagnostic techniques which can diagnose the disease in a lesser time in an economical way. This paper outlines the potential of biosensors in the diagnosis of SARS-CoV-2. This review highlights the current state of presently available detection techniques, expected potential limits, and the benefits of biosensor-implicated tests against SARS-Cov-2 diagnosis. CRISPR-Cas9 implanted paper strip, field-effect transistor (FET) implanted sensor, nucleic-acid centric, aptamers-implanted biosensor, antigen-Au/Ag nanoparticles-based electrochemical biosensor, surface-enhanced Raman scattering (SERS)-based biosensor, Surface Plasmon Resonance, potential electrochemical biosensor, optical biosensor, as well as artificial intelligence (AI) are some of the novel biosensing devices that are being utilized in the prognosis of coronaviruses.