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The global wearable medical devices market was valued at US$ 18.96 Billion in 2021.
We expect the global wearable medical devices market to exhibit a CAGR of 22.2% during 2022-2027.
The advent of the IoT-integrated wearable medical devices, to ensure accurate storage and monitoring
of patient information, both on-premises and remotely, is primarily driving the global wearable medical
The sudden outbreak of the COVID-19 pandemic has led to increasing adoption of wearable medical
devices for remote monitoring, rehabilitation, disease management, etc., to mitigate the risk of
Based on the device type, the global wearable medical devices market has been segmented into
diagnostic devices and therapeutic devices, where diagnostic devices hold the majority of the total
Based on the product, the global wearable medical devices market can be divided into activity monitors,
smartwatches, patches, smart clothing, hearing aids, and others. Currently, smartwatches exhibit a clear
dominance in the market.
Based on the application, the global wearable medical devices market has been categorized into sports
and fitness, remote patient monitoring, and home healthcare. Among these, home healthcare accounts
for the majority of the global market share.
Based on the distribution channel, the global wearable medical devices market can be segregated into
offline and online. Currently, offline channel holds the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global wearable medical devices market include Abbott Laboratories,
Apple Inc., Dexcom Inc., Fitbit Inc. (Google LLC), Garmin Ltd., Honeywell International Inc., Koninklijke
Philips N.V., Medtronic Plc, Omron Corporation, and Vital Connect Inc.
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