What are the Historical Developments and Current Growth Metrics of the Diagnostic Wearable Medical Devices Market?
The diagnostic wearable medical devices market has seen considerable growth due to a variety of factors.
• The market size for diagnostic wearable medical devices has seen a swift expansion in the past few years. The market, valued at $7.13 billion in 2024, is set to inflate to $8.09 billion in 2025, boasting a Compound Annual Growth Rate (CAGR) of 13.5%.
This historical grown can be credited to factors like an ever-increasing elderly population, amplified investments in digital health, the growth of smartphone usage, a rise in participation in sports and fitness pursuits, and the proliferation of startups centered around wearable medical devices.
What Does Future Hold for The Diagnostic Wearable Medical Devices Market By 2029?
The diagnostic wearable medical devices market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions suggest a swift expansion of the diagnostic wearable medical devices market in the coming years. The market is poised to reach a value of $13.28 billion by 2029, growing at a compound annual growth rate (CAGR) of 13.2%.
The projected growth in the forecast period can be ascribed to the amplified health-consciousness, an uptick in chronic health conditions, burgeoning utilization of telemedicine along with remote patient monitoring, an intensified emphasis on personalized medicine, and the growing health-care infrastructure. The forecast period is also expected to witness major trends such as technological evolution, incorporation of artificial intelligence, increased use of wearable devices, augmented reality, and smart apparel.
What Are The Primary Growth Drivers In The Diagnostic Wearable Medical Devices Market?
The growth of the diagnostic wearable medical devices market is anticipated to be driven by the escalating prevalence of chronic illnesses. Chronic diseases are lengthy health issues that develop over time, linger for a prolonged period, and often demand continuous medical care and management. The emergence of chronic diseases can be attributed to various factors such as aging demographic, inactive lifestyle, unhealthy dietary practices, escalating obesity rates, and the rising occurrence of risk factors like smoking and excessive alcohol use. Diagnostic wearable medical devices are increasingly employed in the management of chronic ailments by tracking vital signs and other health indicators, offering real-time information that aids patients and medical practitioners in better handling these conditions. For example, in April 2022, the National Association of Chronic Disease Directors (NACDD), a non-profit entity based in the US, stated that nearly 60% of American adults suffer from at least one chronic disease, and around 40% of American adults have numerous chronic conditions (MCC). This is projected to cost the US economy 2 trillion dollars every year or $8,600 per person by 2030. As a result, the escalating incidence of chronic diseases propels the growth of the diagnostic wearable medical devices market.
What Is The Segmentation Of The Global Diagnostic Wearable Medical Devices Market?
The diagnostic wearable medical devicesmarket covered in this report is segmented –
1) By Type: Vital Signs Monitor, Sleep And Activity Monitor, Fetal And Obstetric Monitoring, Neuro Monitoring, Electrocardiogram Monitors
2) By Channel: Online, Pharmacies, Hypermarkets
3) By Application: Sports And Fitness, Remote Patient Monitoring, Home Healthcare
Subsegments:
1) By Vital Signs Monitor: Heart Rate Monitor, Blood Pressure Monitor, Temperature Monitor, Respiratory Rate Monitor, Blood Oxygen Saturation (SpO2) Monitor
2) By Sleep and Activity Monitor: Sleep Apnea Monitor, Wearable Sleep Trackers, Physical Activity and Fitness Trackers, Step Counters and Pedometers, Sleep Pattern Monitoring Devices
3) By Fetal and Obstetric Monitoring: Fetal Heart Rate Monitor, Maternal Contraction Monitors, Wearable Pregnancy Monitoring Devices, Non-Invasive Fetal Monitoring Devices
4) By Neuro Monitoring: Wearable EEG Monitors, Brain Activity Monitors, Seizure Monitoring Devices, Wearable Neurostimulation Devices
5) By Electrocardiogram Monitors: Portable ECG Monitors, Wearable ECG Patches, Real-Time ECG Monitoring Devices, Continuous ECG Monitoring Wearables
Pre-Book The Diagnostic Wearable Medical Devices Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The Diagnostic Wearable Medical Devices Market?
Key firms in the diagnostic wearable medical devices sector are concentrating on the development of innovative solutions, like glucose monitoring systems, aiming to improve accuracy, user convenience, and the handling of chronic ailments such as diabetes. Glucose tracking systems are medical gadgets that monitor and record blood sugar levels, providing real-time data and insights that can enable patients, particularly those with diabetes, to manage their condition effectively. For example, in February 2023, Dexcom Inc., a US corporation specializing in continuous glucose monitoring systems, released the next-generation Dexcom G7 CGM System intended for Medicare beneficiaries. The newly developed Dexcom G7 CGM System has a tinier, less noticeable profile and faster preparation time. The sensor and transmitter are combined into a solitary device, increasing user-friendliness and precision with a standard mean absolute relative difference (MARD) of 8.2%. This gadget provides customizable notifications, extended usage duration, and flawless compatibility with other diabetes control devices and digital health services, vividly illustrating the advances in the field of diagnostic wearable continuous glucose tracking devices.
Who Are the Key Players In The Diagnostic Wearable Medical Devices Market?
Major companies operating in the diagnostic wearable medical devices market are:
• Apple Inc.
• Google LLC
• Samsung Electronics Co. Ltd.
• Huawei Technologies Co. Ltd.
• F. Hoffmann-La Roche Ltd.
• Abbott Laboratories
• Medtronic plc
• Koninklijke Philips NV
• GE Healthcare
• OMRON Corporation
• Garmin Ltd.
• Drägerwerk AG & Co. KGaA
• Molex LLC
• ResMed Inc.
• Dexcom Inc.
• Boyd Corporation
• Masimo Corporation
• AliveCor Inc.
• VitalConnect Inc.
• BTS Bioengineering Corp.
• Cleveland Medical Devices Inc.
• Meril Life Sciences Pvt. Ltd.
• Activinsights Ltd.
• Murata Vios Inc.
What Are The Regional Insights Into The Diagnostic Wearable Medical Devices Market?
North America was the largest region in the diagnostic wearable medical devices market in 2024. The regions covered in the diagnostic wearable medical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
