Wearable Medical Devices Market To Reach $168.29 Billion By 2030

Wearable Medical Devices Market Growth & Trends

The global wearable medical devices market size is expected to reach USD 168.29 billion by 2030, registering a CAGR of 25.53% from 2025 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing growth driven by an increasing demand for high-tech products and the growing trend of continuous health monitoring.

The rising obesity rate and a heightened awareness of physical fitness, is motivating individuals to engage in workouts and adopt fitness-related activities. Wearable devices like smartwatches and smart bands play a crucial role in monitoring various fitness parameters, including calories burned, step count, heart rate, and distance covered. Companies such as Google, Fitbit, Apple, and Nike are actively launching innovative products, particularly focusing on smartwatches and wristbands, contributing to a surge in product availability.

The COVID-19 pandemic has positively impacted the market, driven by the increased demand for telemedicine. WHO guidelines promoting social distancing and discouraging public gatherings have led to a preference for telemedicine among physicians, enabling remote patient treatment without the risk of virus transmission. The growth of telemedicine, coupled with the integration of artificial intelligence (AI) into its systems, has further propelled the expansion of the wearable medical device market.

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Wearable Medical Devices Market Report Highlights

• The diagnostic devices segment led the market with the largest revenue share of 61.32% in 2024. The increasing prevalence of neurological disorders is a primary driver for the growth of this segment.

• Based on site, the strap/clip/bracelet segment led the market with the largest revenue share of 51.6% in 2024 and is likely to remain dominant throughout the forecast period.

• Based on application, the home healthcare segment led the market with the largest revenue share of 53.1% in 2024, due to the increasing geriatric population increasing prevalence rates of target diseases, and the growing need to curb healthcare expenditure as an economically viable initiative are some of the factors responsible for market growth.

• Based on grade type, the consumer-grade segment led the market with the largest revenue share of 77.30% in 2024. These devices offer user-friendly features, focusing on personal health and fitness tracking, making them widely popular among consumers.

• Based on the distribution channel, the pharmacy segment led the market with the largest revenue share of 39.34% in 2024. This dominance is attributed to the widespread accessibility of pharmacies, offering consumers a convenient avenue to purchase these devices.

• North America wearable medical devices market dominated with the largest revenue share of 35.76% in 2024, owing to the growing prevalence of cardiovascular disorders, diabetes, and cancer within this region.

Wearable Medical Devices Market Segmentation

Grand View Research has segmented global wearable medical device market report based on product, site, application, distribution channel, grade type, and region:

Wearable Medical Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostic Devices

• Vital Sign Monitoring Devices

• Heart Rate Monitors

• Activity Monitors

• Electrocardiographs

• Pulse Oximeters

• Spirometers

• Blood Pressure Monitors

• Others

• Sleep Monitoring Devices

• Sleep trackers

• Wrist Actigraphs

• Polysomnographs

• Others

• Electrocardiographs Fetal and Obstetric Devices

• Neuromonitoring Devices

• Electroencephalographs

• Electromyographs

• Others

• Therapeutic Devices

• Pain Management Devices

• Neurostimulation Devices

• Others

• Insulin/Glucose Monitoring Devices

• Insulin Pumps

• Others

• Rehabilitation Devices

• Accelometers

• Sensing Devices

• Ultrasound Platform

• Others

• Respiratory Therapy Devices

• Ventilators

• Positive Airway Pressure (PAP) Devices

• Portable Oxygen Concentrators

• Others

Wearable Medical Devices Site Outlook (Revenue, USD Million, 2018 - 2030)

• Handheld

• Headband

• Strap/Clip/Bracelet

• Shoe Sensors

• Others

Wearable Medical Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

• Sports And Fitness

• Remote Patient Monitoring

• Home Healthcare

Wearable Medical Devices Grade Type Outlook (Revenue, USD Million, 2018 - 2030)

• Consumer-Grade Wearable Medical Devices

• Clinical Wearable Medical Devices

Wearable Medical Devices Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmacies

• Online Channel

• Hypermarkets

Wearable Medical Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

• U.S.

• Canada

• Europe

• UK

• Germany

• Italy

• France

• Spain

• Denmark

• Sweden

• Norway

• Asia Pacific

• Japan

• China

• India

• South Korea

• Australia

• Thailand

• Central & South America

• Brazil

• Mexico

• Argentina

• Middle East & Africa

• South Africa

• Saudi Arabia

• UAE

• Kuwait

List of Key Players of Wearable Medical Devices Market

• Koninklijke Philips N.V.

• Fitbit (Google)

• Garmin Ltd.

• Medtronic

• Omron

• Withings

• VitalConnect

• Polar Electro

• Sotera, Inc.

• INVIZA Corporation

• Dexcom, Inc.

• GE HealthCare

• CONTEC MEDICAL SYSTEMS CO., LTD

• Nanowear Inc.