UK Wearable Medical Devices Market To Reach $6.25 Billion By 2030

UK Wearable Medical Devices Market Growth & Trends

The UK wearable medical devices market is anticipated to reach USD 6.25 billion by 2030 and is anticipated to expand at a CAGR of 26.3% during the forecast period, according to a new report by Grand View Research, Inc. The continuous research and innovation, increase in the usage of remote patient monitoring and home healthcare is anticipated to contribute to the market growth. Moreover, significant opportunities held by technological advancements, mergers and acquisitions, increased focus on fitness and healthy lifestyle contribute to propel the market scope.

Concerns about the increasing rates of death and the frequency of chronic illnesses are driving healthcare practitioners to prioritize individualized treatment, especially via ongoing remote patient monitoring. Due to its many benefits, wearable medical devices-which may be worn continuously without interfering with daily activities are becoming more popular. An increase in the demand for these devices is anticipated over the projected period.

Furthermore, the development of smaller and powerful sensors and processors has made it possible to create wearable medical devices that are more accurate and affordable. This has led to a proliferation of new devices and applications, many of which are still in the experimental phase but hold great promise for the future of healthcare.

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UK Wearable Medical Devices Market Report Highlights

• Based on product, the diagnostic devices segment dominated the product segment with more than 60% share in 2023 owing to increase in prevalence of neurological disorders

• Based on application, the remote patient monitoring segment is expected to grow at the fastest CAGR over the forecast period

• Based on site, the clip/strap/bracelet segment held the largest market share of more than 50% in 2023. The uses of these bracelet segments include the measurement of blood pressure, oxygen concentration as well as tracking physical activity and sleep patterns

• Based on grade type, the consumer-grade wearable medical devices held the majority share in 2023 due to their user-friendly features and emphasis on tracking personal fitness and health

• Some of the key players operating in UK wearable medical devices market include KoninklijkePhilips N.V.; Fitbit; Garmin; Covidien (Medtronic); Withings; Everist Genomics; among others. In June 2020, Garmin acquired FirstBeat Analytics, a provider of physiological analytics for health and fitness in order to expand its share in the corresponding market.

UK Wearable Medical Devices Market Segmentation

Grand View Research has segmented the UK wearable medical devices market on the basis of product, site, application, grade type, and distribution channel:

UK Wearable Medical Devices Product Outlook (Revenue, USD Billion; 2018 - 2030)

• Diagnostic Devices

• Vital Sign Monitor

• Heart Rate Monitors

• Activity Monitors

• Electrocardiographs

• Pulse Oximeters

• Spirometers

• Blood Pressure Monitors

• Others

• Sleep Monitoring Device

  • Sleep Trackers

  • Wrist Actigraphs

  • Polysomnographs

  • Others

• Electrocardiographs Fetal & Obstetric Devices

• Neuromonitoring Devices

  • EEG

  • EMG

  • Others

• Therapeutic Devices

• Pain Management Devices

• Neurostimulation Devices

• Others

• Insulin Monitoring Devices

  • Insulin Pumps

  • Others

  • Autoinjectors

  • Other Insulin Devices

• Rehabiliation Devices

  • Accelerometers

  • Sensing Devices

  • Ultrasound Platform

  • Others

• Respiratory Therapy Devices

  • Ventilators

  • CPAP

  • Portable oxygen concentrators

  • Others

UK Wearable Medical Devices Site Outlook (Revenue, USD Billion; 2018 - 2030)

• Handheld

• Headband

• Strap, Clip, Bracelet

• Shoe Sensors

• Others

UK Wearable Medical Devices Application Outlook (Revenue, USD Billion; 2018 - 2030)

• Sports & Fitness

• Remote Patient Monitoring

• Home Healthcare

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

• Consumer-grade Wearable Medical Devices

• Clinical Wearable Medical Devices

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

• Pharmacies

• Online Channels

• Hypermarkets

List of Key Players in UK Wearable Medical Devices Market

• Koninklijke Philips N.V.

• Fitbit

• Garmin

• Covidien (Medtronic)

• Omron Corp.

• Withings

• Polar Electro

• Everist Genomics

• Intelesens Ltd.