Wearable Medical Devices Market Size To Achieve USD 430.76 Bn By 2034 | Statifacts

2025-04-15 11:01:20

(MENAFN- GlobeNewsWire - Nasdaq) The global wearable medical devices market size surpassed USD 42.71 billion in 2024 and is anticipated to reach around USD 430.76 billion by 2034, registering a CAGR of 26% from 2025 to 2034. A study published by Statifacts a sister firm of Precedence Research.

Ottawa, April 15, 2025 (GLOBE NEWSWIRE) -- According to Statifacts, the global wearable medical devices market size is predicted to increase from USD 53.81 billion in 2025 to approximately USD 430.76 billion by 2034, expanding at a CAGR of 26% between 2025 and 2034. The growing incidences of chronic diseases drive the wearable medical devices market growth, increasing awareness of health, growing senior population, adoption of artificial intelligence (AI) and internet of things (IoT), advanced technologies, and health and fitness awareness.

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Market Overview

Wearable medical devices refer to the devices that patients attach to their bodies to collect health and fitness data, which they may provide to insurers, healthcare providers, doctors, and other related parties. Wearable devices like biosensors, fitness trackers, and blood pressure monitors. In healthcare, wearable technology benefits include detecting potential health issues early, increasing access to healthcare data, and improving real-time health monitoring.

The wearable medical devices market refers to the production, distribution, and use of wearable medical devices which is autonomous, non-invasive, and perform a specific medical function like monitoring or support over a prolonged period. The term wearable suggests that the device is either supported by the human body or clothing. The benefits of wearable medical devices include enhanced chronic disease management, early disease detection and prevention, and proactive health management.

Using artificial intelligence (AI) technologies like deep learning and machine learning (ML) in wearable medical devices helps in many applications, including mental health tracking, sleep monitoring, gait analysis, fall detection, and beyond. Innovations in wearable medical devices include personalized healthcare, continuous monitoring, biosensing technologies, and innovative drug delivery systems.

In July 2024, SONU, the World's first FDA-authorized, AI-based, wearable device for treating nasal congestion because of allergic and non-allergic Rhinitis launched by SoundHealth and received a $7 million round of funding.

Wearable Medical Devices Market Key Highlights

North America led the market with the biggest market share of 39.1% in 2024.
Asia Pacific is projected to expand at the fastest CAGR during the forecast period.
By site, the strap/clip/bracelet segment has held the major revenue in 2024.
By site, the shoe sensors segment is projected to grow significant growth in the market during the forecast period.
By product, the diagnostic devices segment has held the largest revenue share of 63.1% in 2024.
By product, the therapeutic device segment is projected to expand rapidly in the market in the coming years.
By application the home healthcare segment registered the maximum market share of 54.1% in 2024.
By application the remote patient monitoring segment is predicted to witness significant growth in the market over the forecast period.
By distribution channels, the online channels segment underwent notable growth in the wearable medical devices market during 2024 and is expected to grow at the fastest rate in the market during the forecast period of 2025 to 2034.

Major Key Trends in the Wearable Medical Devices Market:

Growing senior population: The growing senior population needs wearable medical device benefits, including medication management and wearables, common health tracking devices, supportive cognitive health, professional monitoring, improving social connections, promoting physical activity, GPS tracking, fitness monitoring, continuous health monitoring, medication reminders, and fall detection.
Rising awareness about health and fitness: These are simple wearable devices that allow users to keep an eye on their health by monitoring basic parameters like pulse or heart rate. Smart helmets can monitor the wearer's vital signs, detect hazardous conditions or impacts, and send alerts to emergency responders or supervisors if required.
Rising prevalence of chronic diseases: Using wearable medical devices in chronic disease management allows individuals to have continuous access to their health data. Real-time monitoring encourages proactive involvement and enhances awareness of personal well-being.

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Limitations & Challenges in the Wearable Medical Devices Market:

Data security issues: The distinctive features of wearable devices introduce different security and data issues, including the potential for unauthorized access to physiological, sensitive, and medical data.
High cost of wearable devices: The high cost of wearable devices includes batteries, sensors, and chips that may need regular replacement, which may increase the overall cost of the device. High investment is required for research and development related to wearable devices, leading to increased costs.

Development of Wearable Medical Devices Platforms: Market's Largest Potential

These wearable medical devices offer real-time tracking of vital signs and provide necessary health information. With wearable devices, individuals can take control of their health, making informed decisions about their medical care and lifestyle. Wearable medical device technology is transforming healthcare in many ways. It allows for constant monitoring of vital signs, helping to detect abnormalities early and allowing timely intervention. It allows patients to take control of their health, making them active participants in their care.

In April 2024, advanced wearable technology to revolutionize fitness and health coaching in India was launched by WHOOP, the world's most advanced wearable fitness and health technology company.

Regional Analysis:

North America Held the Dominant Position: Technological Advancement to Support Growth

North America held the largest share of the wearable medical devices market in 2024. Rising access to healthcare data, improved healthcare monitoring, and lower healthcare expenditures are driving the growth of the market in the North American region.

Major Factors for the Market's Expansion in North America

In April 2024, wearable smart rings were manufactured in the United States for the first time in a domestic facility, marking further growth in the domestic wearable device market.
In November 2024, Aktiia's continuous blood pressure monitoring (CBPM) bracelet acquired approval from Health Canada and was launched in the country to represent the company's first market expansion outside of Europe.

What Expect From Asian Countries till 2034?

Asia Pacific is anticipated to grow at the fastest rate in the market during the forecast period. Rising remote monitoring preference, which helps to reduce costs for providers and patients, rising interest in personal health drives adoption, and rising prevalence of chronic diseases needs continuous monitoring, which drives the growth of the wearable medical devices market in the Asia Pacific region.

Top Asian Countries for Wearable Medical Devices Treatment

India: The rising wearable medical devices market in India due to its offering remote patient monitoring, aiding in preventing readmissions, and reducing hospital visits. In addition, it plays an important role in cost reduction in healthcare.

In December 2024, the third cohort of its executive course in healthcare entrepreneurship and management was launched by IIT Delhi (CEP), building on the success of the second batch.

Japan: Japan's wearable medical devices market is experiencing growth driven by continuous advancements in wearable device techniques, improvement in healthcare infrastructure, and an increasing senior population.

In November 2024, a Japanese Robotic Company developed wearable suits that are set to help former Ukrainian soldiers who suffered severe injuries in the war against Russia regain muscular function.

Wearable Medical Devices Market Scope

Report Attribute	Key Statistics
Market Size in 2025	USD 53.81 Billion
Market Size by 2034	USD 430.76 Billion
Growth Rate from 2025 to 2034	CAGR of 26%
Base Year	2024
Forecast Period	2025 to 2034
Segments Covered	By Site, By Product, By Application, By Grade Type, By Distribution Channel, and By Region
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Site Insights

The strap/clip/bracelet segment held a dominant presence in the market in 2024. Increasing consumer demand for convenient strap/bracelet type devices is leading to growth in the space. Favourable regulatory policies and support for wearable medical devices are also contributing to market expansion. Class I wearable medical devices are exempt from certain premarket approval processes. The strap, clip, and bracelet fall under the Class I wearable medical devices and are low risk compared to other Class II devices.

The shoe sensors segment is predicted to witness significant growth in the market over the forecast period. Growing inclusivity and increasingly health-conscious consumers are driving demand for wearable sensors. These devices also have applications for the visually impaired to help them navigate the environment. These are also used in disaster management applications, including for fire-fighters to estimate water levels and as altitude sensors for rescuers in high-altitude regions. These devices are usually equipped to detect magnetic flux, track angular momentum and walking patterns.

Product Insights

The diagnostic devices segment registered its dominance over the wearable medical devices market in 2024. Diagnostic devices are devices used to identify the nature or cause of a specific phenomenon, generally related to a medical disorder. Diagnostic devices include pacemakers, magnetic resonance imaging apparatuses, and temperature sensors. The benefits of diagnostic devices include continuous monitoring and telemedicine, enhanced patient experience, integration with digital health technologies , ease of training and use, reduction in operational cost, and accuracy and reliability of results.

The therapeutic device segment is projected to expand rapidly in the market in the coming years. Therapeutic devices are used to treat medical disorders. Therapeutic devices have many benefits, including wound healing, osteoarthritis treatment, muscle rehabilitation, and pain management. Digital therapeutic solutions help to enhance medication adherence with personalized nudges that strengthen long-term behavioral change in patients.

Application Insights

The home healthcare segment enjoyed a prominent position in the wearable medical devices market during 2024. Types of home healthcare wearable medical devices include nasal rinsing devices, automated external defibrillators (AEDs), blood glucose monitors, patient lifts, bed rails, medical test kits for home use, pulse oximeters, and menstrual tampons. Wearable medical devices allow remote monitoring of patients, enabling healthcare providers to keep track of various patients at a time without the need for them to be physically present in healthcare facilities.

The remote patient monitoring segment is predicted to witness significant growth in the market over the forecast period. A wearable medical device for remote patient monitoring designed for patients to continuously collect and transmit their health data. These wearables may include sensors that monitor vital signs like activity levels, body temperature, blood oxygen levels, and heart rate. Remote patient monitoring enables us to manage or monitor an acute or chronic health condition from a distance over time.

Distribution Channels Insights

The online channels segment underwent notable growth in the wearable medical devices market during 2024 and is expected to grow at the fastest rate in the market during the forecast period of 2025 to 2034. Wearables allow remote monitoring of patients, enabling healthcare providers to keep track of many patients at a time. Wearable devices generate a lot of personal health data that can be shared with doctors and analyzed to monitor patients remotely.

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The global medical device clinical trials market size was valued at USD 17.19 billion in 2024 and is expected to hit around USD 31.34 billion by 2034 with a CAGR of 6.19% from 2025 to 2034.
The U.S. wearable medical device market size was estimated at USD 11,720 million in 2024 and is projected to be worth around USD 1,20,090 million by 2034, growing at a CAGR of 26.2% from 2025 to 2034.
The U.S. portable medical devices market size was estimated at USD 2,578 million in 2024 and is projected to be worth around USD 6,933 million by 2034, growing at a CAGR of 10.4% from 2025 to 2034.
The U.S. medical device outsourcing market size was evaluated at USD 31,630 million in 2024 and is expected to grow around USD 94,800 million by 2034, registering a CAGR of 11.6% from 2025 to 2034.
The U.S. medical device contract manufacturing market size accounted for USD 25,980 million in 2024 and is expected to exceed around USD 75,110 million by 2034, growing at a CAGR of 11.2% from 2025 to 2034.
The U.S. medical devices market size is calculated at USD 188.71 billion in 2024 and is predicted to reach around USD 367.77 billion by 2034, expanding at a CAGR of 6.9% from 2025 to 2034.
The global medical device analytical testing outsourcing market size is predicted to gain around USD 10,979 million by 2034 from USD 5,849 million in 2024 with a CAGR of 6.5% from 2025 to 2034.
The global IoT medical devices market size was valued at USD 26.50 billion in 2024 and is predicted to gain around USD 108.15 billion by 2034 with a CAGR of 15.10% from 2025 to 2034.

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Wearable Medical Devices Market Top Companies:

Koninklijke Philips N.V.
Medtronic Plc
Sotera Wireless
Omron Corporation
Polar Electro
Everist Health
Intelesens Ltd
Fitbit Inc.
Withings
Vital Connect
Garmin Ltd.

Recent Breakthroughs in the Global Wearable Medical Devices Market :

In February 2025, the launch of an initial public offering of 10,000,000 common shares was announced by a wearable medical device and digital healthcare company, Kestra Medical Technologies, Ltd.
In March 2025, the launch of a next-generation wearable medical device for the restoration of cognitive and physical function in the USA and Asia was announced by the world's first wearable technology that trains the brain and body in one system, SynPhNe.

Segments Covered in the Report

By Site

Headband
Handheld
Shoe Sensors
Strap/Clip/Bracelet
Others

By Product

Therapeutic Devices
- Insulin/Glucose Monitoring Devices
  - Insulin Pumps
  - Others
- Pain Management Devices
  - Neurostimulation Devices
  - Others
- Respiratory Therapy Devices
  - Portable Oxygen Concentrators
  - Positive Airway Pressure (PAP) Devices
  - Ventilators
  - Others
- Rehabilitation Devices
  - Sensing Devices
  - Accelerometers
  - Ultrasound Platform
  - Others
Diagnostic Devices
- Sleep Monitoring Devices
  - Polysomnographs
  - Wrist Actigraphs
  - Sleep Trackers
  - Others
- Vital Sign Monitoring Devices
  - Activity Monitors
  - Heart Rate Monitors
  - Electrocardiographs
  - Spirometers
  - Pulse Oximeters
  - Blood Pressure Monitors
  - Others
- Neuromonitoring Devices
  - Electromyographs
  - Electroencephalographs
  - Others
- Electrocardiographs Fetal & Obstetric Devices

By Application

Remote Patient Monitoring
Sports & Fitness
Home Healthcare

By Grade Type

Consumer-Grade Wearable Healthcare Devices
Clinical-Grade Wearable Healthcare Devices

By Distribution Channel

Pharmacies
Online Channel
Hypermarkets

By Region

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa (MEA)

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