UK Wearable Medical Devices Market Size & Outlook
UK wearable medical devices market, 2018-2030 (US$M)
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UK wearable medical devices market highlights
- The UK wearable medical devices market generated a revenue of USD 1,211.3 million in 2023 and is expected to reach USD 6,254.4 million by 2030.
- The UK market is expected to grow at a CAGR of 26.4% from 2024 to 2030.
- In terms of segment, diagnostic was the largest revenue generating product in 2023.
- Therapeutic is the most lucrative product segment registering the fastest growth during the forecast period.
Wearable medical devices market data book summary
| Market revenue in 2023 | USD 1,211.3 million |
| Market revenue in 2030 | USD 6,254.4 million |
| Growth rate | 26.4% (CAGR from 2023 to 2030) |
| Largest segment | Diagnostic |
| Fastest growing segment | Therapeutic |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic, Therapeutic |
| Key market players worldwide | Koninklijke Philips NV, Fitbit, Intel Corp, Garmin Ltd, Covidien, OMRON Corp, Polar Electro, Everist Health, UltraLinq Healthcare Solutions, Sotera Health Co Ordinary Shares |
Other key industry trends
- In terms of revenue, UK accounted for 3.6% of the global wearable medical devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany wearable medical devices market is projected to lead the regional market in terms of revenue in 2030.
- Sweden is the fastest growing regional market in Europe and is projected to reach USD 5,826.8 million by 2030.
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Wearable Medical Devices Market Scope
Wearable Medical Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK wearable medical devices market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to wearable medical devices market will help companies and investors design strategic landscapes.
Diagnostic was the largest segment with a revenue share of 62.01% in 2023. Horizon Databook has segmented the UK wearable medical devices market based on diagnostic, therapeutic covering the revenue growth of each sub-segment from 2018 to 2030.
The UK held the substantial share of the wearable medical devices market in Europe in 2021, and the same trend is expected during the forecast period. This can be attributed to factors such as favorable government regulations pertaining to wearable medical devices and increasing prevalence of chronic diseases in the UK.
For instance, as per researchers in the UK, in 2016, about 29.0 million people in the country were suffering from chronic pain. Moreover, as per a report published by the Xtelligent Healthcare Media, LLC, in 2018, physicians who prescribe wearable Health device to help patients manage chronic pain would be reimbursed by the UK's National Health Service.
A new trial was also launched in care homes across the UK to see if wearable digital devices can substantially reduce COVID-19 cases and prevent fatalities. The trial was financially supported by the National Institute of Health Research. Such instances are expected to boost the demand for wearable medical devices in the UK, thereby propelling market growth.
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Our clientele includes a mix of wearable medical devices market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK wearable medical devices market , including forecasts for subscribers. This country databook contains high-level insights into UK wearable medical devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK wearable medical devices market size, by product, 2018-2030 (US$M)
UK Wearable Medical Devices Market Outlook Share, 2023 & 2030 (US$M)
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