U.S. Wearable Medical Devices Market To Reach $46.89 Billion By 2030

U.S. Wearable Medical Devices Market Growth & Trends

The U.S. wearable medical devices market size is expected to reach USD 46.89 billion by 2030 and is anticipated to expand at a CAGR of 23.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising prevalence of chronic diseases, growing consumer awareness, adoption of technology, and regulatory support and approval processes are the key drivers of the U.S. wearable medical devices market.

Within the market landscape, the players are allocating substantial investments towards research and development, simultaneously striving to enhance their production capacities. The companies are pursuing the development of wearable medical devices, offering them to consumers at competitive prices. They are incorporating cutting-edge health features to attract customers and enhance overall appeal.

In the U.S., the growing adoption of wearable medical devices is fueled by multiple factors, including technological advancements, transforming healthcare delivery systems, high consumer interest in health and well-being, and a shift towards prioritizing preventive care measures. Wearable medical devices spearhead a transformative era in healthcare, enabling patients to continuously track their health status and granting healthcare professionals access to invaluable real-time data. This innovative technology facilitates more tailored and proactive care approaches. Furthermore, high-end data privacy is maintained, confirming the cyber security of the real-time and past health data generated by wearable medical devices.

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U.S. Wearable Medical Devices Market Report Highlights

• Based on product, the diagnostic devices segment dominated the market and accounted for a share of 61.3% in 2023 due to growing demand for personalized medicine, remote patient monitoring, and Cost-effectiveness

• Based on site, the strap, clip, and bracelet segment is expected to grow at the fastest CAGR over the forecast period. The shoe sensors segment is anticipated to witness lucrative growth over the forecast period

• Based on application, the home healthcare segment dominated with the largest market revenue share of 53.2% in 2023. This is attributable to the rising prevalence of chronic diseases involving diabetes, asthma, and cardiac diseases and the rising geriatric population in the U.S.

• The FDA classifies wearable medical devices based on their intended use and level of risk. Low-risk devices involving fitness trackers are classified as Class I medical devices and do not require pre-market approval (PMA)

U.S. Wearable Medical Devices Market Segmentation

Grand View Research has segmented the U.S. wearable medical devices market based on product, site, application, grade type, and distribution channel:

U.S. Wearable Medical Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostic Devices

  • Vital Sign Monitor

    • Heart Rate Monitors

    • Activity Monitors

    • Electrocardiographs

    • Pulse Oximeters

    • Spirometers

    • Blood Pressure Monitors

    • Others

  • Sleep Monitoring Device

    • Sleep Trackers

    • Wrist Actigraphs

    • Polysomnographs

    • Others

  • Electrocardiographs Fetal & Obstetric Devices

  • Neuromonitoring Devices

    • EEG

    • EMG

    • Others

• Therapeutic Devices

  • Pain Management Devices

    • Neurostimulation Devices

    • Others

  • Insulin Monitoring Devices

    • Insulin Pumps

    • Others

      • Autoinjectors

      • Other Insulin Devices

  • Rehabiliation Devices

    • Accelerometers

    • Sensing Devices

    • Ultrasound Platform

    • Others

  • Respiratory Therapy Devices

    • Ventilators

    • CPAP

    • Portable Oxygen Concentrators

    • Others

U.S. Wearable Medical Devices Site Outlook (Revenue, USD Million, 2018 - 2030)

• Handheld

• Headband

• Strap, Clip, Bracelet

• Shoe Sensors

• Others

U.S. Wearable Medical Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

• Sports & Fitness

• Remote Patient Monitoring

• Home Healthcare

U.S. Wearable Medical Devices Grade Type Outlook (Revenue, USD Million, 2018 - 2030)

• Consumer-grade Wearable Medical Devices

• Clinical Wearable Medical Devices

U.S. Wearable Medical Devices Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmacies

• Online Channels

• Hypermarkets

List of key players in the U.S. Wearable Medical Devices Market

• Koninklijke Philips N.V.

• Apple Inc.

• Fitbit

• Basis Science

• Garmin

• Medtronic

• Omron Corp.

• Withings

• Vital Connect

• Polar Electro

• Everist Genomics

• Intelesens Ltd.

• Sotera Wireless

• AbbVie Inc.