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U.S. Wearable Medical Devices Market Size, Share & Trends Analysis Report By Product (Diagnostic Devices), By Site (Handheld), By Grade Type, By Distribution Channel, By Application, And Segment Forecasts, 2024 - 2030

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    Report

  • 70 Pages
  • February 2024
  • Region: United States
  • Grand View Research
  • ID: 5943897
Description Jump to:
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. 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.

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)

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Type
1.2.2. Site
1.2.3. Application
1.2.4. Grade type
1.2.5. Distribution channel
1.2.6. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Purchased database
1.4.2. Internal database
1.4.3. Secondary sources
1.4.4. Primary research
1.5. Information or Data Analysis
1.5.1. Data analysis models
1.6. Market Formulation & Validation
1.7. Model Details
1.7.1. Commodity flow analysis (Model 1)
1.7.2. Volume price analysis (Model 2)
1.8. List of Secondary Sources
1.9. List of Primary Sources
1.10. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Type outlook
2.2.2. Site outlook
2.2.3. Application outlook
2.2.4. Grade Type outlook
2.2.5. Distribution channel
2.3. Competitive Insights
Chapter 3. U.S. Wearable Medical Devices Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.2. Market restraint analysis
3.3. U.S. Wearable Medical Devices Market Analysis Tools
3.3.1. Industry Analysis - Porter's
3.3.1.1. Supplier power
3.3.1.2. Buyer power
3.3.1.3. Substitution threat
3.3.1.4. Threat of new entrant
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Technological landscape
3.3.2.3. Economic landscape
Chapter 4. U.S. Wearable Medical Devices Market: Type Estimates & Trend Analysis
4.1. Type Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. U.S. Wearable Medical Devices Market by Type Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.4.1. Diagnostic Devices
4.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
4.4.2. Therapeutic Devices
4.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 5. U.S. Wearable Medical Devices Market: Site Estimates & Trend Analysis
5.1. Site Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. U.S. Wearable Medical Devices Market by Site Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.4.1. Handheld
5.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
5.4.2. Headband
5.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
5.4.3. Clip/Strap/Bracelet
5.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
5.4.4. Shoe Sensors
5.4.4.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
5.4.5. Others
5.4.5.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 6. U.S. Wearable Medical Devices Market: Application Estimates & Trend Analysis
6.1. Application Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. U.S. Wearable Medical Devices Market by Application Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.4.1. Sports & Fitness
6.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
6.4.2. Remote Patient Monitoring
6.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
6.4.3. Home Healthcare
6.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 7. U.S. Wearable Medical Devices Market: Grade Type Estimates & Trend Analysis
7.1. Grade Type Market Share, 2023 & 2030
7.2. Segment Dashboard
7.3. U.S. Wearable Medical Devices Market by Grade Type Outlook
7.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
7.4.1. Consumer-grade Wearable Medical Devices
7.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
7.4.2. Clinical Wearable Medical Devices
7.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 8. U.S. Wearable Medical Devices Market: Distribution Channel Estimates & Trend Analysis
8.1. Distribution Channel Market Share, 2023 & 2030
8.2. Segment Dashboard
8.3. U.S. Wearable Medical Devices Market by Distribution Channel Outlook
8.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
8.4.1. Pharmacy
8.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
8.4.2. Online Channels
8.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
8.4.3. Hypermarkets
8.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 9. Competitive Landscape
9.1. Recent Developments & Impact Analysis, By Key Market Participants
9.2. Company/Competition Categorization
9.3. Vendor Landscape
9.3.1. List of key distributors and channel partners
9.3.2. Key customers
9.3.3. Key company market share analysis, 2023
9.4. Company Profiles
9.4.1. Koninklijke Philips N.V.
9.4.1.1. Company overview
9.4.1.2. Financial performance
9.4.1.3. Product benchmarking
9.4.1.4. Strategic initiatives
9.4.2. Fitbit
9.4.2.1. Company overview
9.4.2.2. Financial performance
9.4.2.3. Product benchmarking
9.4.2.4. Strategic initiatives
9.4.3. Garmin
9.4.3.1. Company overview
9.4.3.2. Financial performance
9.4.3.3. Product benchmarking
9.4.3.4. Strategic initiatives
9.4.4. Medtronic
9.4.4.1. Company overview
9.4.4.2. Financial performance
9.4.4.3. Product benchmarking
9.4.4.4. Strategic initiatives
9.4.5. Omron Corp.
9.4.5.1. Company overview
9.4.5.2. Financial performance
9.4.5.3. Product benchmarking
9.4.5.4. Strategic initiatives
9.4.6. Withings
9.4.6.1. Company overview
9.4.6.2. Financial performance
9.4.6.3. Product benchmarking
9.4.6.4. Strategic initiatives
9.4.7. Polar Electro
9.4.7.1. Company overview
9.4.7.2. Financial performance
9.4.7.3. Product benchmarking
9.4.7.4. Strategic initiatives
9.4.8. Everist Genomics
9.4.8.1. Company overview
9.4.8.2. Financial performance
9.4.8.3. Product benchmarking
9.4.8.4. Strategic initiatives
9.4.9. Intelesens Ltd.
9.4.9.1. Company overview
9.4.9.2. Financial performance
9.4.9.3. Product benchmarking
9.4.9.4. Strategic initiatives
9.4.10. Sotera Wireless
9.4.10.1. Company overview
9.4.10.2. Financial performance
9.4.10.3. Product benchmarking
9.4.10.4. Strategic initiatives
9.4.11. Abbvie Inc.
9.4.11.1. Company overview
9.4.11.2. Financial performance
9.4.11.3. Product benchmarking
9.4.11.4. Strategic initiatives
9.4.12. Apple Inc.
9.4.12.1. Company overview
9.4.12.2. Financial performance
9.4.12.3. Product benchmarking
9.4.12.4. Strategic initiatives
9.4.13. Vital Connect
9.4.13.1. Company overview
9.4.13.2. Financial performance
9.4.13.3. Product benchmarking
9.4.13.4. Strategic initiatives
9.4.14. Basic Science
9.4.14.1. Company overview
9.4.14.2. Financial performance
9.4.14.3. Product benchmarking
9.4.14.4. Strategic initiatives
List of Tables
Table 1 List of abbreviations
Table 2 U.S. wearable medical devices market, by product, 2018 - 2030 (USD Million)
Table 3 U.S. wearable medical devices market, by diagnostic devices type, 2018 - 2030 (USD Million)
Table 4 U.S. wearable medical devices market, by vital sign monitoring device type, 2018 - 2030 (USD Million)
Table 5 U.S. wearable medical devices market, by sleep monitoring device type, 2018 - 2030 (USD Million)
Table 6 U.S. wearable medical devices market, by neuromonitoring device type, 2018 - 2030 (USD Million)
Table 7 U.S. wearable medical devices market, by therapeutic device type, 2018 - 2030 (USD Million)
Table 8 U.S. wearable medical devices market, by pain management device type, 2018 - 2030 (USD Million)
Table 9 U.S. wearable medical devices market, by insulin management device type, 2018 - 2030 (USD Million)
Table 10 U.S. wearable medical devices market, by other insulin management devices type, 2018 - 2030 (USD Million)
Table 11 U.S. wearable medical devices market, by rehabilitation device type, 2018 - 2030 (USD Million)
Table 12 U.S. wearable medical devices market, by respiratory therapy device type, 2018 - 2030 (USD Million)
Table 13 U.S. wearable medical devices market, by other insulin management devices type, 2018 - 2030 (USD Million)
Table 14 U.S. wearable medical devices market, by other insulin management devices type, 2018 - 2030 (USD Million)
Table 15 U.S. wearable medical devices market, by site, 2018 - 2030 (USD Million)
Table 16 U.S. wearable medical devices market, by application, 2018 - 2030 (USD Million)
Table 17 U.S. wearable medical devices market, by grade type, 2018 - 2030 (USD Million)
Table 18 U.S. wearable medical devices market, by distribution channel, 2018 - 2030 (USD Million)
List of Figures
Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value-chain-based sizing & forecasting
Fig. 6 QFD modeling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 U.S. Wearable Medical Devices Market: market outlook
Fig. 9 Wearable devices competitive insights
Fig. 10 Parent market outlook
Fig. 11 Related/ancillary market outlook
Fig. 12 Penetration and growth prospect mapping
Fig. 13 U.S. wearable medical devices market driver impact
Fig. 14 U.S. wearable medical devices market restraint impact
Fig. 15 U.S. wearable medical devices market strategic initiatives analysis
Fig. 16 U.S. wearable medical devices market: Product movement analysis
Fig. 17 U.S. wearable medical devices market: Site outlook and key takeaways
Fig. 18 Diagnostic devices market estimates and forecasts, 2018 - 2030 (USD Million) (USD Million)
Fig. 19 Therapeutic devices estimate and forecasts, 2018 - 2030 (USD Million) (USD Million)
Fig. 20 U.S. wearable medical devices market: Site movement Analysis
Fig. 21 U.S. Wearable Medical Devices Market: Site outlook and key takeaways
Fig. 22 Handheld market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 23 Headband market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 24 Clip/strap/bracelet market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 25 Shoe sensors market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 26 Others market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 27 U.S. wearable medical devices market: application movement analysis
Fig. 28 U.S. wearable medical devices market: application outlook and key takeaways
Fig. 29 Sports & fitness market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 30 Remote patient monitoring market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 31 Home Healthcare market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 32 U.S. wearable medical devices market: grade type movement analysis
Fig. 33 U.S. wearable medical devices market: grade type outlook and key takeaways
Fig. 34 Consumer grade wearable medical devices market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 35 Clinical wearable medical devices market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 36 U.S. wearable medical devices market: distribution channel movement analysis
Fig. 37 U.S. wearable medical devices market: distribution channel outlook and key takeaways
Fig. 38 Pharmacies market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 39 Online channel market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 40 Hypermarkets market estimates and forecasts, 2018 - 2030 (USD Million)

Companies Mentioned

  • Koninklijke Philips N.V.
  • Fitbit
  • Garmin
  • Medtronic
  • Omron Corp.
  • Withings
  • Polar Electro
  • Everist Genomics
  • Intelesens Ltd.
  • Sotera Wireless
  • Abbvie Inc.
  • Apple Inc.
  • Vital Connect
  • Basic Science

Methodology

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Table Information

Report AttributeDetails
No. of Pages70
PublishedFebruary 2024
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 10.73 Billion
Forecasted Market Value ( USD ) by 2030 $ 46.89 Billion
Compound Annual Growth Rate23.4%
Regions CoveredUnited States
No. of Companies Mentioned14

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About the Wearable Medical Device Market

The Wearable Medical Device market is a subset of the Medical Device industry, focusing on devices that are worn on the body to monitor and track health data. These devices are typically small, lightweight, and unobtrusive, allowing for continuous monitoring of vital signs and other health metrics. Wearable Medical Devices are used to monitor a variety of conditions, including heart rate, blood pressure, sleep patterns, and physical activity. They can also be used to detect early signs of disease and alert medical professionals to potential health issues. Wearable Medical Devices are becoming increasingly popular due to their convenience and ability to provide real-time data. They are also being used to improve patient outcomes by providing more accurate and timely information to healthcare providers. Some companies in the Wearable Medical Device market include Apple, Fitbit, Garmin, and Philips. Show Less Read more

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