Wearable Medical Devices Market is Projected to Reach US$ 95.4 Billion in 2028

Wearable Medical Devices market is expected to reach US$ 95.4 Billion in 2028, growing at a CAGR of 23.7% during 2022-2028, reports Stratview Research.

Raipur, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Wearable Medical Devices Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

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How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

What are the Top Market Drivers?

According to the report, the Wearable Medical Devices market is driven by a host of factors, some of which are noted below:

  • Increasing fitness consciousness among the consumers particularly the young generation.
  • Rising prevalence of chronic lifestyle diseases due to stress and unhealthy eating habits.

The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Wearable Medical Devices Market Segmentation:

Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.

  • Device Type 
  • Product Type 
  • Application Type
  • Distribution Channel Type
  • Region

Wearable Medical Devices Market Insights

Market Trends by Application Type

Based on application, the market has been segmented into sports and fitness, remote patient monitoring, and home healthcare.

  • The home healthcare segment accounted for the largest market share of >50% in 2021.
  • Expanding geriatric population and prevalence of chronic diseases have resulted in increased demand for devices to monitor health continuously at home and reduce the number of frequent hospital visits and thus, curb healthcare expenditure.

Market Trends by Device Type

Based on the device, the market has been segmented into Diagnostic Devices, Therapeutic Devices. The diagnostic devices segment accounted for a revenue share of nearly 65% in 2021.

Which region offers the best opportunity and growth?

Geographically, the market in North America accounted for the largest market share in 2020 owing to expanding geriatric population and an increasing number of people having non-communicable diseases due to changing lifestyles.

  • Additionally, the high adoption rate of technologically advanced healthcare products coupled with high purchasing power is another important factor propelling market growth.
  • The market in the Asia-Pacific region is projected to register the fastest growth during the review period on account of the increasing usage of fitness devices coupled with rising per capita disposable income.

COVID-19 Impact on the Wearable Medical Devices Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

To know more about the covid-19 impact, get a free sample report, here:


Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -

  • Koninklijke Philips N.V. (Netherlands),
  • Zephyr Technology Corporation (The U.S),
  • Omron Corporation (Japan),
  • Sotera Wireless, Inc. (The U.S),
  • Everist Health (The U.S),
  • LifeWatch AG (Switzerland),
  • Withings (France),
  • Polar Electro Oy (Finland),
  • Intelesens Ltd (UK),
  • Fitbit, Inc. (The U.S),
  • Vital Connect, Inc. (The U.S), and
  • Garmin Ltd. (The U.S).

What deliverables will you get in this report?

  • In-depth analysis of the Wearable Medical Devices Market
  • Detailed market segmentation.
  • Competitive-landscape analysis.
  • Historical, present, and future market size analysis.
  • Industry trends, technologies, and advancements.
  • Growth and operation strategies adopted by key players.
  • Potential segments/regions offering promising growth.
  • Geographical presence of the key players.

Related reports which might be useful:

  1. Wearable Cardiac Devices Market
  2. Smart Wearable Fitness Devices Sensors Market

About us –

Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.

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