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Premium Report Details
Base Year: 2024
Companies covered: 12
Tables & Figures: 127
Countries covered: 19
Pages: 135
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Wearable Medical Devices Market
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Wearable Medical Devices Market Size
The global wearable medical devices market size was estimated at USD 120.1 billion in 2024. The market is expected to grow from USD 137.7 billion in 2025 to USD 543.9 billion in 2034, at a CAGR of 16.5% during the forecast period. The global market is experiencing significant growth due to the growing prevalence of chronic diseases worldwide.
For instance, in 2021, as per data from the World Health Organization (WHO), non-communicable diseases were responsible for 43 million deaths worldwide, among which cardiovascular disease was responsible for at least 19 million deaths followed by cancer with 10 million, chronic respiratory diseases with 4 million, and diabetes with over 2 million deaths. The wearable medical devices facilitate the continuous monitoring of these chronic diseases, supporting the early detection of any complication and improved disease management. Thus, as the prevalence of these chronic diseases continues to grow, so does the need for effective health monitoring devices such as wearable medical devices, thereby propelling market growth.
Moreover, the rising awareness regarding physical fitness and wearable devices is a key catalyst that is pushing the growth of the market. With more individuals worldwide becoming conscious regarding their physical health and adopting a healthy lifestyle, the demand for wearable devices which can monitor and track their fitness and health-related insights and progress is boosting. Wearable devices such as smart watches and fitness bands help individuals to track their heart rate, calorie related insights, physical activity, and sleep patterns in real time. Thus, the growing awareness regarding fitness coupled with technological advancements is stimulating the growth of the market.
Wearable medical devices are diagnostic tools or health-monitoring devices that are designed to be attached or worn on the body. These devices collect, analyze and monitor real time health related data, which provides valuable insight into a person's health status. Moreover, these devices can be integrated with digital platforms as well as smartphones.
Wearable Medical Devices Market Trends
Wearable Medical Devices Market Analysis
In 2021, the global market was valued at USD 85.7 billion. The following year, it saw a slight increase to USD 93.8 billion, and by 2023, the market further climbed to USD 105.1 billion. Based on devices, the market is segmented into activity/fitness monitors, diabetes devices, cardiac monitors, neurological monitors, respiratory monitors, body and temperature monitors, in-ear devices, and other devices. The activity/fitness segment held revenues of USD 30 billion in 2024, and the segment is poised for significant growth at a CAGR of 16.9% during the forecast period.
Based on application, the wearable medical devices market is segmented into cardiac health, obesity control, diabetes care, fitness monitoring, sleep tracking, and other applications. The diabetic care segment was valued at USD 20.2 billion with a revenue share of 16.9% in 2024.
Based on end use, the wearable medical devices market is segmented into home healthcare, remote patient monitoring, and fitness and sports. The home healthcare segment held the largest revenue of USD 59.8 billion in 2024.
The North America wearable medical devices market dominated the global market with a market share of 32.2% in 2024. The market is driven by advanced healthcare infrastructure, strong consumer awareness, and rapid adoption of digital health technologies in the region.
The U.S. wearable medical devices industry was valued at USD 25 billion and USD 27.3 billion in 2021 and 2022, respectively. The market size reached USD 34.9 billion in 2024, growing from USD 30.6 billion in 2023.
Europe wearable medical devices market accounted for USD 28 billion in 2024 and is anticipated to show lucrative growth over the forecast period.
Germany wearable medical devices market is anticipated to witness considerable growth over the analysis period.
The Asia Pacific wearable medical devices market is anticipated to grow at the highest CAGR of 17% during the analysis timeframe.
China wearable medical devices market is predicted to grow significantly over the forecast period.
Brazil is experiencing significant growth in the Latin America wearable medical devices market.
Saudi Arabia wearable medical devices industry is poised to witness substantial growth in Middle East and Africa market during the forecast period.
Wearable Medical Devices Market Share
The top 5 players of the market account for approximately 42% of the market share, which includes companies such as Apple, Xiaomi Corporation, Samsung, Alphabet, and Abbott Laboratories. Moreover, strategic partnerships with fitness centers, healthcare providers, research institutes, and government agencies play a primary role in advancing the development of products and obtaining the necessary permits. The development of public awareness through campaigns, social media platforms, and endorsement of these devices through health and wellness influencers will encourage consumer interest in wearable devices, enabling market players to strengthen their position in this growing sector.
Wearable Medical Devices Market Companies
Some of the eminent market participants operating in the wearable medical devices industry include:
Wearable Medical Devices Industry News:
The wearable medical devices market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2034 for the following segments:
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Market, By Device
Market, By Application
Market, By End Use
The above information is provided for the following regions and countries: