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Wearable Medical Devices Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Industry: Medical Devices


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The initial report findings indicate the valuation of over US$20 Bn for global wearable medical devices market in 2021, which clearly awaits an excellent growth prospect at a solid double-digit rate through 2027.

Prevalence of Chronic Diseases Stimulates Expansion of Wearable Medical Devices Market

Adopting sedentary lifestyle coupled with lack of routine checkups has resulted in rapid proliferation of lifestyle based chronic ailments such as high blood pressure, diabetes, cardiovascular diseases, cancers, and respiratory diseases. These disorders are a major cause of huge economic burden for individuals as well as healthcare systems. This has resulted in high demand for timely routine checkups and diagnosis of individuals to reduce incidences of lifestyle diseases. In this backdrop, healthcare providers are carrying out efforts to gain visibility on individual health and vitals, which is expected to drive the growth of the wearable medical devices market.

Furthermore, regional, and national healthcare agencies have been actively promoting diagnosis via several campaigns such as awareness programs. This factor is likely to generate awareness among general population with regards to wearable medical devices for monitoring and diagnosing vitals. This prompted manufactures of wearable medical devices to come up with innovative products that can efficiently monitor, maintain, and track human vitals. For instance, in 2020, Fitbit Inc. introduced the Fitbit Charge4 which is an activity tracking device that includes advanced features such as exercise tracking, sleep tracking, pulse tracking, and heart monitoring. The new launches will keep the sales afloat in global wearable medical devices market.

Awareness Apropos to Fitness and Self Health Monitoring to Bode Well for the Wearable Medical Devices Market

The wearable medical devices market is likely to witness stable growth in the coming years on the back of increasing geriatric population worldwide. For instance, according to the report by United Nations, by 2050 the number of individuals aged 65 years and above is expected to cross1.5 billion, which is most likely to increase the burden of chronic diseases. In addition, with the outbreak of the COVID-19 pandemic, self monitoring of vitals gained high priority giving an impetus to wearable medical devices use. The pandemic also triggered awareness among the public apropos to fitness and diet regime to boost body immunity. This, in turn led to the adoption of modern wearable medical devices such as smart watches that can monitor the oxygen capacity of lungs, heartbeat, and pulse changes, and blood pressure. Apart from a superior clinical mobility experience, it has become a trend to use technologically advanced wearables backed by the notion of using superior tech while doing routine tasks. This factor is pivotal in driving the demand of healthcare wearables and is likely to fuel growth of the wearable medical devices market.

Diagnostic Devices Poised to Account for Significant Share in the Wearable Medical Devices Market

Diagnostic wearable medical devices have been gaining high traction since the past few years and are likely to maintain status quo. Among different diagnostic devices, demand for neuromonitoring wearables is expected to spearhead owing to increasing prevalence of neurological disorders. For instance, according to the analysis of GBD (Global Burden of Disease), prevalence of migraine in the United States was relatively high in 2020 and about 95% of individuals suffer from this neurological disorder in the country. In addition, growing awareness regarding capability of neurological wearable devices to measure cognitive abilities of individuals has further accelerated their use. That said, use of various diagnostic devices is expected to increase and are most likely to account for a significant revenue share in wearable medical devices market.

North America to Remain Bullish in Wearable Medical Devices Market

Developed nations in North America are likely to remain on the forefront apropos to use of wearable medical devices. This is mainly owing to increasing lifestyle disorders followed by improper diet regimes and high mortality rates due to occurrences of chronic ailments. Moreover, macro factors such as high GDP per capita, favourable medical infrastructure and government initiatives to promote healthcare in the region has attracted several majors operating in the wearable medical devices market. In this background, North America is projected to gain high value and volume share in the market.

Wearable Medical Devices Market: Competitive Landscape

Major players in the wearable medical devices market have been focusing on developing new products to strengthen their position by enhancing their product portfolio. For instance, in 2021, Omron Healthcare Inc. introduced Omron Complete. This is the company’s first single lead ECG (electrocardiogram) and BP (blood pressure) monitoring device designed for home use. Similarly, same year in May, Biobeat introduced a continuous ABPM (Ambulatory Blood Pressure Monitoring) device. In January 2021, a collaboration was signed between Apple and Biogen for a new research project that would help wearable manufacturers design effective products using efficient remote monitoring programs. This project focused on assessing efficiency of mHealth wearable medical devices in identifying early signs of cognitive impairment.

A few of the major players in the market include Beckton Dickinson, Fitbit Inc., Apple Inc., Ypsomed, Sonova, Philips, Omron Healthcare Inc., Samsung, AiQ Smart Clothing, and NeuroMetrix Inc.

The Global Wearable Medical Devices Market Is Segmented As Below:

  • North America
    • United States
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East & Africa

1. Executive Summary
     1.1. Global Wearable Medical Devices Market Outlook, 2019 - 2030 (US$ Million and Units)
     1.2. Global Wearable Medical Devices Market Incremental Opportunity, 2019 - 2030 (US$ Million)
     1.3. Key Industry Trends

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
            2.2.1. Drivers
                    2.2.1.1. Driver 1
                    2.2.1.2. Driver 2
            2.2.2. Restraints
                    2.2.2.1. Restraint 1
                    2.2.2.2. Restraint 2
            2.2.3. Market Opportunities Matrix
     2.3. Porters Five Forces Analysis
     2.4. Regulatory Guidelines & Reimbursement Scenario
     2.5. Covid-19 Impact Analysis

3. Pricing Analysis, 2021
     3.1. Average Selling Price, by Product,
     3.2. Average Selling Price, by Key Regions

4. Global Wearable Medical Devices Market Outlook, 2019 - 2030
     4.1. Global Wearable Medical Devices Market Outlook, by Product, Value (US$ Mn) and Volume (Units), 2019 - 2030
            4.1.1. Key Highlights
                    4.1.1.1. Diagnostics and Monitoring
                             4.1.1.1.1. Blood Pressure Monitors
                             4.1.1.1.2. Heart Rate Monitors
                             4.1.1.1.3. Blood Glucose Monitors
                             4.1.1.1.4. Pulse Oximeters
                             4.1.1.1.5. Breath Analyzers
                             4.1.1.1.6. Sleep Monitoring Devices
                             4.1.1.1.7. Neuromonitoring Devices
                             4.1.1.1.8. Others
                    4.1.1.2. Therapeutic
                             4.1.1.2.1. Pain Management Devices
                             4.1.1.2.2. Insulin Pumps
                             4.1.1.2.3. Respiratory Therapy Devices
                             4.1.1.2.4. Others
            4.1.2. BPS Analysis/Market Attractiveness Analysis

5. Global Wearable Medical Devices Market Outlook, 2019 - 2030
     5.1. Global Wearable Medical Devices Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2019 - 2030
            5.1.1. Key Highlights
                    5.1.1.1. Oncology
                    5.1.1.2. Autoimmune Disorders
                    5.1.1.3. Diabetes
                    5.1.1.4. Sleep Disorders
                    5.1.1.5. Sports & Fitness
                    5.1.1.6. Others
            5.1.2. BPS Analysis/Market Attractiveness Analysis
     5.2. Global Wearable Medical Devices Market Outlook, by End User, Value (US$ Mn) and Volume (Units), 2019 - 2030
            5.2.1. Key Highlights
                    5.2.1.1. Home Care Settings
                    5.2.1.2. Hospitals & Clinics
                    5.2.1.3. Sports & Fitness Centers
                    5.2.1.4. Others
            5.2.2. BPS Analysis/Market Attractiveness Analysis
     5.3. Global Wearable Medical Devices Market Outlook, by Region, Value (US$ Mn) and Volume (Units), 2019 - 2030
            5.3.1. Key Highlights
                    5.3.1.1. North America
                    5.3.1.2. Europe
                    5.3.1.3. Asia Pacific
                    5.3.1.4. Rest of the World
            5.3.2. BPS Analysis/Market Attractiveness Analysis

6. North America Wearable Medical Devices Market Outlook, 2019 - 2030
     6.1. North America Wearable Medical Devices Market Outlook, by Product, Value (US$ Mn) and Volume (Units), 2019 - 2030
            6.1.1. Key Highlights
                    6.1.1.1. Diagnostics and Monitoring
                             6.1.1.1.1. Blood Pressure Monitors
                             6.1.1.1.2. Heart Rate Monitors
                             6.1.1.1.3. Blood Glucose Monitors
                             6.1.1.1.4. Pulse Oximeters
                             6.1.1.1.5. Breath Analyzers
                             6.1.1.1.6. Sleep Monitoring Devices
                             6.1.1.1.7. Neuromonitoring Devices
                             6.1.1.1.8. Others
                    6.1.1.2. Therapeutic
                             6.1.1.2.1. Pain Management Devices
                             6.1.1.2.2. Insulin Pumps
                             6.1.1.2.3. Respiratory Therapy Devices
                             6.1.1.2.4. Others
            6.1.2. BPS Analysis/Market Attractiveness Analysis
     6.2. North America Wearable Medical Devices Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2019 - 2030
            6.2.1. Key Highlights
                    6.2.1.1. Oncology
                    6.2.1.2. Autoimmune Disorders
                    6.2.1.3. Diabetes
                    6.2.1.4. Sleep Disorders
                    6.2.1.5. Sports & Fitness
                    6.2.1.6. Other
            6.2.2. BPS Analysis/Market Attractiveness Analysis
     6.3. North America Wearable Medical Devices Market Outlook, by End User, Value (US$ Mn) and Volume (Units), 2019 - 2030
            6.3.1. Key Highlights
                    6.3.1.1. Home Care Settings
                    6.3.1.2. Hospitals & Clinics
                    6.3.1.3. Sports & Fitness Centers
                    6.3.1.4. Others
            6.3.2. BPS Analysis/Market Attractiveness Analysis
     6.4. North America Wearable Medical Devices Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2019 - 2030
            6.4.1. Key Highlights
                    6.4.1.1. U.S.
                    6.4.1.2. Canada
            6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Wearable Medical Devices Market Outlook, 2019 - 2030
     7.1. Europe Wearable Medical Devices Market Outlook, by Product, Value (US$ Mn) and Volume (Units), 2019 - 2030
            7.1.1. Key Highlights
                    7.1.1.1. Diagnostics and Monitoring
                             7.1.1.1.1. Blood Pressure Monitors
                             7.1.1.1.2. Heart Rate Monitors
                             7.1.1.1.3. Blood Glucose Monitors
                             7.1.1.1.4. Pulse Oximeters
                             7.1.1.1.5. Breath Analyzers
                             7.1.1.1.6. Sleep Monitoring Devices
                             7.1.1.1.7. Neuromonitoring Devices
                             7.1.1.1.8. Others
                    7.1.1.2. Therapeutic
                             7.1.1.2.1. Pain Management Devices
                             7.1.1.2.2. Insulin Pumps
                             7.1.1.2.3. Respiratory Therapy Devices
                             7.1.1.2.4. Others
            7.1.2. BPS Analysis/Market Attractiveness Analysis
     7.2. Europe Wearable Medical Devices Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2019 - 2030
            7.2.1. Key Highlights
                    7.2.1.1. Oncology
                    7.2.1.2. Autoimmune Disorders
                    7.2.1.3. Diabetes
                    7.2.1.4. Sleep Disorders
                    7.2.1.5. Sports & Fitness
                    7.2.1.6. Others
            7.2.2. BPS Analysis/Market Attractiveness Analysis
     7.3. Europe Wearable Medical Devices Market Outlook, by End User, Value (US$ Mn) and Volume (Units), 2019 - 2030
            7.3.1. Key Highlights
                    7.3.1.1. Home Care Settings
                    7.3.1.2. Hospitals & Clinics
                    7.3.1.3. Sports & Fitness Center
                    7.3.1.4. Others
            7.3.2. BPS Analysis/Market Attractiveness Analysis
     7.4. Europe Wearable Medical Devices Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2019 - 2030
            7.4.1. Key Highlights
                    7.4.1.1. Germany
                    7.4.1.2. France
                    7.4.1.3. U.K.
                    7.4.1.4. Italy
                    7.4.1.5. Spain
                    7.4.1.6. Rest of Europe
            7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Wearable Medical Devices Market Outlook, 2019 - 2030
     8.1. Asia Pacific Wearable Medical Devices Market Outlook, by Product, Value (US$ Mn) and Volume (Units), 2019 - 2030
            8.1.1. Key Highlights
                    8.1.1.1. Diagnostics and Monitoring
                             8.1.1.1.1. Blood Pressure Monitors
                             8.1.1.1.2. Heart Rate Monitors
                             8.1.1.1.3. Blood Glucose Monitors
                             8.1.1.1.4. Pulse Oximeters
                             8.1.1.1.5. Breath Analyzers
                             8.1.1.1.6. Sleep Monitoring Devices
                             8.1.1.1.7. Neuromonitoring Devices
                             8.1.1.1.8. Others
                    8.1.1.2. Therapeutic
                             8.1.1.2.1. Pain Management Devices
                             8.1.1.2.2. Insulin Pumps
                             8.1.1.2.3. Respiratory Therapy Devices
                             8.1.1.2.4. Others
            8.1.2. BPS Analysis/Market Attractiveness Analysis
     8.2. Asia Pacific Wearable Medical Devices Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2019 - 2030
            8.2.1. Key Highlights
                    8.2.1.1. Oncology
                    8.2.1.2. Autoimmune Disorders
                    8.2.1.3. Diabetes
                    8.2.1.4. Sleep Disorders
                    8.2.1.5. Sports & Fitness
                    8.2.1.6. Others
            8.2.2. BPS Analysis/Market Attractiveness Analysis
     8.3. Asia Pacific Wearable Medical Devices Market Outlook, by End User, Value (US$ Mn) and Volume (Units), 2019 - 2030
            8.3.1. Key Highlights
                    8.3.1.1. Home Care Settings
                    8.3.1.2. Hospitals & Clinics
                    8.3.1.3. Sports & Fitness Center
                    8.3.1.4. Others
            8.3.2. BPS Analysis/Market Attractiveness Analysis
     8.4. Asia Pacific Wearable Medical Devices Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2019 - 2030
            8.4.1. Key Highlights
                    8.4.1.1. China
                    8.4.1.2. Japan
                    8.4.1.3. India
                    8.4.1.4. South Korea
                    8.4.1.5. Australia & New Zealand
                    8.4.1.6. Rest of Asia Pacific
            8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Rest of the World Wearable Medical Devices Market Outlook, 2019 - 2030
     9.1. Rest of the World Wearable Medical Devices Market Outlook, by Product, Value (US$ Mn) and Volume (Units), 2019 - 2030
            9.1.1. Key Highlights
                    9.1.1.1. Diagnostics and Monitoring
                             9.1.1.1.1. Blood Pressure Monitors
                             9.1.1.1.2. Heart Rate Monitors
                             9.1.1.1.3. Blood Glucose Monitors
                             9.1.1.1.4. Pulse Oximeters
                             9.1.1.1.5. Breath Analyzers
                             9.1.1.1.6. Sleep Monitoring Devices
                             9.1.1.1.7. Neuromonitoring Devices
                             9.1.1.1.8. Others
                    9.1.1.2. Therapeutic
                             9.1.1.2.1. Pain Management Devices
                             9.1.1.2.2. Insulin Pumps
                             9.1.1.2.3. Respiratory Therapy Devices
                             9.1.1.2.4. Others
            9.1.2. BPS Analysis/Market Attractiveness Analysis
     9.2. Rest of the World Wearable Medical Devices Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2019 - 2030
            9.2.1. Key Highlights
                    9.2.1.1. Oncology
                    9.2.1.2. Autoimmune Disorders
                    9.2.1.3. Diabetes
                    9.2.1.4. Sleep Disorders
                    9.2.1.5. Sports & Fitness
                    9.2.1.6. Others
            9.2.2. BPS Analysis/Market Attractiveness Analysis
     9.3. Rest of the World Wearable Medical Devices Market Outlook, by End User, Value (US$ Mn) and Volume (Units), 2019 - 2030
            9.3.1. Key Highlights
                    9.3.1.1. Home Care Settings
                    9.3.1.2. Hospitals & Clinics
                    9.3.1.3. Sports & Fitness Centers
                    9.3.1.4. Others
            9.3.2. BPS Analysis/Market Attractiveness Analysis
     9.4. Rest of the World Wearable Medical Devices Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2019 - 2030
            9.4.1. Key Highlights
                    9.4.1.1. Latin America
                    9.4.1.2. Middle East & Africa
            9.4.2. BPS Analysis/Market Attractiveness Analysis

10. Competitive Landscape
     10.1. Company Market Share Analysis
     10.2. Company Profiles
            10.2.1. Apple, Inc.
                    10.2.1.1. Company Overview
                    10.2.1.2. Financial Overview
                    10.2.1.3. Product Portfolio
                    10.2.1.4. Recent Developments
*Above details will include, but not be limited to below list of companies based on availability
            10.2.2. Abbott Laboratories
            10.2.3. Wearable Medical Devices, Inc.
            10.2.4. Fitbit, Inc.
            10.2.5. Dexcom, Inc.
            10.2.6. NeuroMetrix, Inc.
            10.2.7. Medtronic plc
            10.2.8. Johnson & Johnson
            10.2.9. Insulet Corporation
            10.2.10. Omron Corporation
            10.2.11. Others

11. Appendix
     11.1. Research Methodology
     11.2. Report Assumptions
     11.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2022

  

2018 - 2022

2023 - 2030

Value: US$ Million

 

REPORT FEATURES

DETAILS

Product
  • Diagnostics and Monitoring
    • Blood Pressure Monitors
    • Heart Rate Monitors
    • Blood Glucose Monitors
    • Pulse Oximeters
    • Breath Analyzers
    • Sleep Monitoring Devices
    • Neuromonitoring Devices
    • Others
  • Therapeutic
    • Pain Management Devices
    • Insulin Pumps
    • Respiratory Therapy Devices
    • Others

Application
  • Oncology
  • Autoimmune Disorders
  • Diabetes 
  • Sleep Disorders
  • Sports & Fitness
  • Others

End Users
  • Home Care Settings
  • Hospitals & Clinics
  • Sports & Fitness Centers
  • Other

Geographic Coverage
  • North America
    • United States
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East & Africa

Leading Companies
  • Apply, Inc.
  • Abbott Laboratories
  • Wearable Medical Devices, Inc.
  • Fitbit, Inc.
  • Dexcom, Inc.
  • NeuroMetrix, Inc.
  • Medtronic plc
  • Johnson & Johnson
  • Insulet Corporation
  • Omron Corporation
  • Others

 Report Highlights

Key Market Indicators, Market Estimates and Forecast Value, Market Dynamics, Regulatory Guidelines, COVID-19 Impact Analysis, Regional and Country Insights, Competitive Landscape, Company Profiles

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Research Methodology

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Neonatal Hearing Screening Devices Market is set to grow from US$42 million in 2024 to US$66 million by 2031, with a CAGR of 4.9%.
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Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

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