U.S. Wearable Medical Devices Market Size & Outlook
U.S. wearable medical devices market, 2018-2030 (US$M)
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U.S. wearable medical devices market highlights
- The U.S. wearable medical devices market generated a revenue of USD 10,729.8 million in 2023 and is expected to reach USD 46,890.5 million by 2030.
- The U.S. market is expected to grow at a CAGR of 23.5% 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 10,729.8 million |
| Market revenue in 2030 | USD 46,890.5 million |
| Growth rate | 23.5% (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, U.S. accounted for 31.7% 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 North America, U.S. wearable medical devices market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 7,365.9 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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U.S. 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 61.32% in 2023. Horizon Databook has segmented the U.S. wearable medical devices market based on diagnostic, therapeutic covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. held the largest share of the wearable medical devices market in 2021. Increasing geriatric and obese population is a major factor driving market growth in the country. As elderly people prefer home healthcare services, increasing geriatric population is expected to boost the demand for wearable medical devices in the country during the forecast period.
Moreover, rising awareness about fitness among people in the U.S. is expected to fuel market growth. For instance, according to a report published by the International Health, Racquet & Sports club Association in 2018, the health and fitness industry in the U.S. is witnessing a year-on-year growth of 3.0% to 4.0% for the last 10 years.
According to a 2019 Pew Research Center survey, one in five U.S. adults (21%) wear a fitness band or wearable fitness tracker on a regular basis. Women are far more likely than men to use such devices on a regular basis (25% vs. 18 %).
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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 U.S. wearable medical devices market , including forecasts for subscribers. This country databook contains high-level insights into U.S. wearable medical devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. wearable medical devices market size, by product, 2018-2030 (US$M)
U.S. Wearable Medical Devices Market Outlook Share, 2023 & 2030 (US$M)
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