Wearable Medical Devices Statistics By Market Segment And Product

Introduction

Wearable Medical Devices Statistics: Technology has greatly improved healthcare by making processes more efficient, increasing patient involvement, and allowing for better monitoring of patient health. During the global pandemic, the healthcare industry quickly turned to tech solutions to offer telehealth services and meet the high demand for care. Telehealth uses software and can be accessed through various devices or methods, making it flexible.

The rise of mobile health apps and wearable devices has had a big impact on healthcare. With the help of software professionals, healthcare providers can build on the success of telehealth and work towards achieving health goals for patients. Outcome-based healthcare is focused on setting clear health goals for patients and tracking their progress over time, with an emphasis on creating personalized treatment plans. Software experts are crucial in helping healthcare providers create these tailored plans and keep patients engaged in their care.

In this article, we shall shed more light on wearable medical device statistics.

Editor’s Choice

• Wearable Medical Devices Statistics stated that 39% of people owned a smartwatch. Additionally, 88% of doctors would like their patients to monitor their health at home.
• By 2026, 30% of adults in the U.S. were using wearable devices for health purposes.
• Nearly half of these users rely on the technology daily, and over 80% are comfortable sharing their health data with healthcare providers.
• Among smartwatch users, 92% use the devices to track their health.
• The number of connected wearable devices worldwide increased from 325 million in 2023 to 722 million in 2024.
• In 2022, there were 100 million smartwatch shipments, and by 2023, the number of ear-worn devices grew by 45%, reaching 105 million.
• Wearable Medical Devices Statistics stated that almost 86% of patients believe wearable medical devices help improve their health outcomes.
• Experts predict that wearable technology will grow significantly over the next 25 years, saving the global healthcare industry over $200 billion in costs.
• Wearable Medical Devices Statistics stated that 20% of users stopped using their devices, mostly because of issues with understanding the data or device comfort.
• The wearable medical device market is booming, with units expected to grow from 275 million in 2021 to almost 440 million by 2024.
• The global smartwatch market is expected to reach $143.19 billion by 2032, growing at a rate of 15.6% each year from 2024 to 2032.
• From 2023 to 2028, the smartwatch market is predicted to grow by 7.19% every year, reaching $62.46 billion by 2028. This represents an increase of $18.3 billion, which is a 41.45% growth from 2023 to 2028.
• Wearable Medical Devices Statistics stated that the global share of people wearing smartwatches is expected to rise by 0.02% between 2023 and 2028.

What Are Wearable Medical Devices?

The World Health Organization predicts a shortage of 10 million healthcare workers by 2030, mainly in low—and middle-income countries. Wearable devices can make a huge difference here. These devices allow healthcare providers to monitor patients remotely, giving quick help and potentially saving lives.

Wearable devices, like fitness trackers and smartwatches, have become essential for tracking and managing personal health. For example, researchers in Munich, Germany, have created a tattoo that changes color to show changes in the body’s fluid under the skin. This tattoo can now act like a display, showing the concentration of different substances in the body. It’s one of many new developments that blend convenience with medical science, giving us a glimpse into the future of healthcare technology. Healthcare product design can be the key to creating these wearable devices, improving how we monitor health, diagnose conditions, and deliver care.

Examples of Wearable Medical Devices

Wearable healthcare technology refers to devices worn on the body, usually on the wrist, to monitor health data like heart rate, blood pressure, sleep patterns, and physical activity. These devices use biosensors to collect data.

(Source: maximizemarketresearch.com)

Wearable Fitness Trackers:

• These devices track physical activity and health. They are usually worn as wristbands or smartwatches and use sensors to measure things like step count, heart rate, sleep patterns, and calories burned. With sensors like accelerometers and gyroscopes to detect movement and optical sensors for heart rate, fitness trackers sync with smartphones or computers to provide insights into your fitness progress and help you reach your health goals.

Wearable ECG Monitors:

• These devices allow continuous monitoring of heart activity. They often come as patches or small devices worn on the chest that pick up electrical signals from the heart and record them over time. This data is crucial for people with heart conditions, as it can be shared with doctors for ongoing monitoring and diagnosis.

Wearable Blood Pressure Monitors:

• These devices help track blood pressure throughout the day. They use optical sensors or inflatable cuffs to take measurements, and the data is sent to a connected device, like a smartphone, for tracking and analysis. Monitoring blood pressure regularly can help manage conditions like hypertension and improve heart health.

Biosensors:

• Biosensors detect specific biological markers or molecules in the body. When included in wearable devices, like smartwatches or patches, they can monitor different health aspects, such as glucose levels, sweat composition, or proteins. This data can provide insights into health, help detect early signs of diseases, or monitor ongoing health conditions.

Continuous Glucose Monitors (CGMs):

• CGMs are devices used by people with diabetes to track their blood glucose levels. They have a small sensor inserted under the skin that measures glucose in the interstitial fluid. The sensor sends this data to a connected device, giving real-time glucose readings. CGMs help users make informed decisions about insulin use, diet, and lifestyle, making it easier to manage their blood sugar levels and overall health.

General Wearable Medical Devices Statistics

• The wearable medical devices market in Saudi Arabia is expected to grow a lot between 2024 and 2032.
• People in Saudi Arabia are also becoming more aware of the benefits of wearable devices and fitness, which is helping the market grow even more.
• In the U.S., the wearable medical devices market is projected to reach USD 112.7 billion by 2032.
• Wearable Medical Devices Statistics stated that the market is divided into categories like fitness monitoring, obesity control, diabetes care, heart health, sleep tracking, and more.
• In 2023, diabetes care was worth USD 17.6 billion, making up 16.7% of the market.
• The rise in diabetes and the growing use of devices to monitor it are major factors driving this segment.
• In 2021, there were 537 million people with diabetes worldwide, and this number is expected to grow to 643 million by 2030 and 783 million by 2040.

(Source: gminsights.com)

• Devices like continuous glucose monitors (CGMs) help manage diabetes by tracking glucose levels in real time and preventing complications.
• The connection of these devices to smartphones and digital platforms makes them easier to use and adds more value for users.
• When it comes to end use, the wearable medical devices market is divided into home healthcare, remote patient monitoring, and fitness and sports.
• The home healthcare segment generated the highest revenue in 2023, reaching USD 52.4 billion.
• The global market was valued at USD 105.1 billion in 2023. The activity/fitness monitor segment brought in USD 26.1 billion in 2023 and is expected to grow at a rate of 16.3% each year during the forecast period.
• This growth is due to increasing awareness of physical health and the rise in lifestyle-related diseases like heart disease, diabetes, and obesity.
• The growth of fitness apps, which are expected to reach USD 76.4 billion by 2032, has helped increase the use of wearable devices for activity monitoring, making this segment even more dominant in the market.
• Wearable Medical Devices Statistics stated that technological improvements in wearable devices are also helping the market grow.
• Advances like better sensors, artificial intelligence (AI), and longer battery life have made these devices more accurate and efficient.
• In the U.S., as chronic conditions like heart disease, high blood pressure, and diabetes continue to increase, wearable devices such as CGMs and fitness bands help monitor these conditions in real time, boosting the market.
• In the UK, the wearable medical devices market is expected to grow significantly from 2024 to 2032.
• The use of remote patient monitoring increased during the COVID-19 pandemic, and wearable devices for home care and telehealth are still being used because they provide real-time data that helps healthcare providers make better decisions.
• In Japan, where the population is aging quickly, wearable devices are a great solution for elderly care, driving their use in the country.
• In 2023, it was projected that one in ten people in Japan was aged 80 or older, which is about a third of the population.

Market Share of Top 5 Companies in the Wearable Healthcare Technology Industry

(Reference: media.market.us)

• Fitbit: Fitbit is the leader in wearable medical devices, with 40% of the market share. They offer smartwatches like the Fitbit Sense 2 and Fitbit Versa 4 to track daily fitness activities. Over 31 million people use Fitbit at least once a week.
• Apple: Apple holds 24.1% of the global wearable device market.
• Garmin: Garmin has a market share of 25.57% in wearable medical devices. The company produces a variety of devices, including fitness trackers that help people of all ages monitor their health. Garmin’s products, like the Venu series, track steps, calories, sleep, and heart rate and work with both Apple and Android phones.
• Philips Healthcare: Philips Healthcare holds 3% of the global MedTech market. The company’s annual revenue is $6.8 billion.
• Omron Healthcare: Omron’s blood pressure monitors are sold in over 110 countries, with a 46% share of the global market.

Wearable Medical Devices Product Insights

• In 2024, diagnostic devices made up the biggest part of the market, bringing in 61.32% of the total revenue.
• A major factor in this growth is the rise in neurological disorders.
• A report from the World Federation of Neurology in October 2023 showed that neurological disorders are the second-leading cause of death and the top cause of disability worldwide.
• Wearable Medical Devices Statistics stated that over 40% of people around the world are affected by neurological conditions, and that number is expected to nearly double by 2050.
• The top 10 conditions—such as stroke, migraines, dementia, epilepsy, and Parkinson’s disease—make up about 90% of all neurological-related disabilities.

(Source: grandviewresearch.com)

• Additionally, growing awareness about how neurological wearables can track brain function during daily activities is expected to boost this segment further.
• The therapeutic device segment is predicted to grow the fastest throughout the forecast period.
• This is mainly due to the increasing demand for these devices.
• The market will also get a boost from upcoming products like smart devices for asthma management, wearable pain relievers, and insulin monitoring tools.
• This segment includes pain management, insulin monitoring, rehabilitation, and respiratory therapy devices, all of which are expected to expand significantly in the coming years.

Wearable Medical Device Market Segment Statistics

• In 2023, the Diagnostic and Monitoring Devices segment led the wearable medical devices market.
• This segment is expected to grow the fastest, with a yearly growth rate of 10.3% from 2024 to 2030.
• The main reason for this growth is the increase in neurological and kidney-related diseases.

(Reference: ttelectronics.com)

• A 2023 survey showed that migraines were the most common neurological condition in the U.S., affecting 92.5% of people.
• Wearable Medical Devices Statistics stated that Neuromodulation devices are often used to diagnose and treat migraines. Also, as people become more aware of how wearable devices can continuously monitor brain health, the market for these devices is expected to grow.
• These devices track cognitive health while people go about their everyday tasks.

(Source: maximizemarketresearch.com)

• The market for traditional diagnostic devices is also expected to grow quickly because more people are using these devices.
• A wide range of medical devices, such as smart asthma management tools, pain relief devices, and insulin monitoring devices, will help this growth.
• The monitoring device category includes pain management tools, glucose monitors, recovery devices, and respiratory therapy devices.
• In 2023, insulin monitoring devices, due to the high number of diabetes patients, were the largest sub-segment and are expected to remain the biggest segment through 2030.

Smartwatch Statistics

• By 2025, the number of smartwatch users worldwide is expected to reach 454.69 million, showing a 41% rise from 323.99 million users in 2023.
• In the future, the number of smartwatch users is forecasted to keep growing, reaching approximately 740.53 million by 2029.

(Reference: media.market.us)

• Wearable Medical Devices Statistics stated that Apple is the top player in the global smartwatch market, holding 21% of the share. Huawei follows with 14%, while Samsung holds 11%.
• Here is our smartwatch market share:

• In 2023, it’s predicted that 184 million smartwatches will be sold, a 16% increase from the 173 million units sold in 2022.
• India is expected to experience the biggest growth in smartwatch demand, with a rise of 75%.
• Wearable Medical Devices Statistics stated that although sales of popular smartwatches from companies like Apple, Google, Garmin, and Samsung dropped by 7% in 2022, these brands still lead the global market. Their sales are expected to stay the same at 107 million units in 2023.
• Men are more likely to own a smartwatch than women. This is because men usually adopt new technology faster and are drawn to gadgets based on their features.
• Women, on the other hand, tend to focus more on how a product can improve their daily lives and often think the size and design of smartwatches don’t suit them.
• However, among internet users aged 25-34, women are more likely to own a smartwatch than men.

(Reference: scoop.market.us)

Following are the details on why people use smartwatches:

(Reference: media.market.us)

• Wearable Medical Devices Statistics stated that the ratio of smartwatch users is 60% male to 40% female.
• Around 14.4% of people worldwide use a smart wristband device.
• Poland has the highest percentage of internet users with a smartwatch or fitness tracker, with 26.5% of its internet users wearing a smart wristband. On the other hand, Morocco has the lowest percentage, with only 2.1% of internet users wearing one.
• The global smartwatch market is expected to reach $143.19 billion by 2032, growing at a rate of 15.6% each year from 2024 to 2032.
• From 2023 to 2028, the smartwatch market is predicted to grow by 7.19% every year, reaching $62.46 billion by 2028. This represents an increase of $18.3 billion, which is a 41.45% growth from 2023 to 2028.
• The global share of people wearing smartwatches is expected to rise by 0.02% between 2023 and 2028.
• Wearable Medical Devices Statistics stated that 88% of smartwatch users said that the devices helped them meet their fitness goals. Additionally, nearly half of all smartwatch users use their devices for regular exercise.

Conclusion

Wearable medical devices have gained popularity recently due to their advantages, like ease of use, remote monitoring, and tailored healthcare. Thanks to advancements in wearable technology, patients can now track their long-term health conditions and send real-time data to healthcare providers, making it easier for doctors to give accurate diagnoses. Although wearable medical devices bring many benefits, there are also some challenges, such as concerns about the security and privacy of data. Overall, these devices have great potential to improve both healthcare results and the patient experience.

However, it’s important to carefully think about both the benefits and challenges before widely adopting wearable healthcare technology. We have shed enough light on Wearable Medical Device Statistics through this article.