The global medical smart rings market is estimated to be USD 0.359 billion in 2024 and is expected to reach USD 2.95 billion by 2035, with a CAGR of 21.13% during the forecast period 2025-2035. The market will grow due to factors such as the growing emphasis on telehealth and remote patient monitoring, the rising prevalence of chronic diseases, sensor technology advancements, awareness of preventive healthcare, supportive government funding and initiatives, and the increasing penetration of wearable health devices in emerging markets.
The global medical smart rings market is witnessing significant growth, driven by advancements in miniaturized sensor technology that enable accurate monitoring of various health parameters. Innovations in biosensors, photoplethysmography (PPG), and electrocardiogram (ECG) technologies have greatly enhanced the accuracy and reliability of these compact devices. A notable example of this progress is the launch of the Galaxy Ring by Samsung in July 2024. This first smart ring features AI-powered health and fitness tracking capabilities, offering functionalities such as sleep analysis, cycle tracking, heart rate monitoring, and workout detection. Encased in a sleek titanium body, the Galaxy Ring boasts an impressive battery life of up to seven days, exemplifying the potential of smart rings in personal health management.
By product, the healthcare monitoring rings segment accounted for the highest revenue-grossing segment in the global medical smart rings market in 2024 owing to the increasing demand for continuous health monitoring solutions for managing chronic diseases such as cardiovascular conditions, diabetes, and sleep disorders. For instance, wearable technology startup Ultrahuman announced in August 2024 that their Ultrahuman Ring AIR would be available at Verizon stores. The Ultrahuman M1 for continuous glucose monitoring, Blood Vision for preventive blood testing utilizing the cutting-edge UltraTrace technology, and Ultrahuman Home, a home health gadget, are all enhanced by this latest addition to the Ultrahuman ecosystem. Additionally, the diagnostic rings segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing focus on early disease detection and the adoption of wearable diagnostic tools for real-time health assessment.
By application, the fitness and wellness segment accounted for the highest revenue-grossing segment in the global medical smart rings market in 2024 owing to the rising consumer interest in health and fitness tracking, driven by the increasing awareness of preventive healthcare and lifestyle management. For instance, Samsung made its debut in the smart ring market with the release of the Galaxy Ring in July 2024. The South Korean tech giant plans to incorporate this new gadget, which has health-tracking features, with its current line of wearables and smartphones. Heart rate and sleep habits are among the several health indicators that the Galaxy Ring is intended to track. Additionally, the remote patient monitoring segment is predicted to grow at the fastest CAGR during the forecast period owing to its ability to facilitate continuous monitoring of patient's vital signs, enabling early intervention and reducing the need for hospital visits.
By End-user, the consumer segment accounted for the highest revenue-grossing segment in the global medical smart rings market in 2024 owing to the growing trend of self-health management and the increasing adoption of wearable devices among health-conscious individuals. For instance, Oura, a firm that sells smart rings that track the health of users, declared in March 2024 that it would be selling its goods on Amazon. Following this action, the company is moving away from its prior direct-to-consumer sales strategy and toward a more extensive retail presence. Additionally, the healthcare providers segment is predicted to grow at the fastest CAGR during the forecast period owing to its increasing use in clinical settings for remote patient monitoring, enhancing patient engagement and care outcomes.
By distribution channel, the online segment accounted for the highest revenue-grossing segment in the global medical smart rings market in 2024 owing to the convenience of e-commerce platforms, wider product availability, and attractive online discounts driving consumer purchases. For instance, the health tech business Bonatra unveiled Smart Rings in August 2023 to track a number of health metrics and encourage better and longer lifespans. Additionally, the offline channel segment is predicted to grow at the fastest CAGR during the forecast period owing to the preference for in-store purchases where consumers can physically evaluate products and receive personalized assistance from sales representatives.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high adoption of advanced wearable technologies, and the increasing prevalence of chronic diseases requiring continuous health monitoring. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rising healthcare expenditure, growing awareness of digital health solutions, and the expanding middle-class population driving the demand for wearable health devices. For instance, the Indian start-up Bonatra introduced a new wearable smart ring in September 2023 to use cutting-edge sensors to assess health in real-time. The gadget is made to track important health indicators like heart rate, sleep habits, and physical activity, meeting India's rising need for reasonably priced wearable medical equipment.
This comprehensive research report focuses on the global and regional market size and forecasts from 2024 to 2035.
The global medical smart rings market is witnessing significant growth, driven by advancements in miniaturized sensor technology that enable accurate monitoring of various health parameters. Innovations in biosensors, photoplethysmography (PPG), and electrocardiogram (ECG) technologies have greatly enhanced the accuracy and reliability of these compact devices. A notable example of this progress is the launch of the Galaxy Ring by Samsung in July 2024. This first smart ring features AI-powered health and fitness tracking capabilities, offering functionalities such as sleep analysis, cycle tracking, heart rate monitoring, and workout detection. Encased in a sleek titanium body, the Galaxy Ring boasts an impressive battery life of up to seven days, exemplifying the potential of smart rings in personal health management.
By product, the healthcare monitoring rings segment accounted for the highest revenue-grossing segment in the global medical smart rings market in 2024 owing to the increasing demand for continuous health monitoring solutions for managing chronic diseases such as cardiovascular conditions, diabetes, and sleep disorders. For instance, wearable technology startup Ultrahuman announced in August 2024 that their Ultrahuman Ring AIR would be available at Verizon stores. The Ultrahuman M1 for continuous glucose monitoring, Blood Vision for preventive blood testing utilizing the cutting-edge UltraTrace technology, and Ultrahuman Home, a home health gadget, are all enhanced by this latest addition to the Ultrahuman ecosystem. Additionally, the diagnostic rings segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing focus on early disease detection and the adoption of wearable diagnostic tools for real-time health assessment.
By application, the fitness and wellness segment accounted for the highest revenue-grossing segment in the global medical smart rings market in 2024 owing to the rising consumer interest in health and fitness tracking, driven by the increasing awareness of preventive healthcare and lifestyle management. For instance, Samsung made its debut in the smart ring market with the release of the Galaxy Ring in July 2024. The South Korean tech giant plans to incorporate this new gadget, which has health-tracking features, with its current line of wearables and smartphones. Heart rate and sleep habits are among the several health indicators that the Galaxy Ring is intended to track. Additionally, the remote patient monitoring segment is predicted to grow at the fastest CAGR during the forecast period owing to its ability to facilitate continuous monitoring of patient's vital signs, enabling early intervention and reducing the need for hospital visits.
By End-user, the consumer segment accounted for the highest revenue-grossing segment in the global medical smart rings market in 2024 owing to the growing trend of self-health management and the increasing adoption of wearable devices among health-conscious individuals. For instance, Oura, a firm that sells smart rings that track the health of users, declared in March 2024 that it would be selling its goods on Amazon. Following this action, the company is moving away from its prior direct-to-consumer sales strategy and toward a more extensive retail presence. Additionally, the healthcare providers segment is predicted to grow at the fastest CAGR during the forecast period owing to its increasing use in clinical settings for remote patient monitoring, enhancing patient engagement and care outcomes.
By distribution channel, the online segment accounted for the highest revenue-grossing segment in the global medical smart rings market in 2024 owing to the convenience of e-commerce platforms, wider product availability, and attractive online discounts driving consumer purchases. For instance, the health tech business Bonatra unveiled Smart Rings in August 2023 to track a number of health metrics and encourage better and longer lifespans. Additionally, the offline channel segment is predicted to grow at the fastest CAGR during the forecast period owing to the preference for in-store purchases where consumers can physically evaluate products and receive personalized assistance from sales representatives.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high adoption of advanced wearable technologies, and the increasing prevalence of chronic diseases requiring continuous health monitoring. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rising healthcare expenditure, growing awareness of digital health solutions, and the expanding middle-class population driving the demand for wearable health devices. For instance, the Indian start-up Bonatra introduced a new wearable smart ring in September 2023 to use cutting-edge sensors to assess health in real-time. The gadget is made to track important health indicators like heart rate, sleep habits, and physical activity, meeting India's rising need for reasonably priced wearable medical equipment.
This comprehensive research report focuses on the global and regional market size and forecasts from 2024 to 2035.
Report Scope:
- Base Year: 2024
- Forecast Period: 2025-2035
- Study Coverage
- Market Forecast by Product, Application, End-User, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Medical Smart Rings Market Report 2024 - 2035
Medical Smart Rings Market Analysis & Forecast by Product 2024 - 2035 (Revenue USD Bn)
- Health Monitoring Rings
- Diagnostic Rings
- Multifunctional Rings
Medical Smart Rings Market Analysis & Forecast by Application 2024 - 2035 (Revenue USD Bn)
- Chronic Disease Management
- Fitness and Wellness
- Remote Patient Monitoring
- Elderly Care
- Women’s Health
- Occupational Health
Medical Smart Rings Market Analysis & Forecast by End-User 2024 - 2035 (Revenue USD Bn)
- Consumers
- Healthcare Providers
- Corporate Wellness Programs
- Research Institutions
Medical Smart Rings Market Analysis & Forecast by Distribution Channel Industry 2024 - 2035 (Revenue USD Bn)
- Online Retail
- Offline Retail
Medical Smart Rings Market Analysis & Forecast by Region 2024 - 2035 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Medical Smart Rings Market: Product Estimates & Trend Analysis
8. Medical Smart Rings Market: Application Estimates & Trend Analysis
9. Medical Smart Rings Market: End-User Estimates & Trend Analysis
10. Medical Smart Rings Market: Distribution Channel Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Medical Smart Rings Market
13. Europe Global Medical Smart Rings Market
14. Asia Pacific Global Medical Smart Rings Market
15. Latin America Global Medical Smart Rings Market
16. MEA Global Medical Smart Rings Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Oura Health Ltd.
- Motiv Inc.
- Samsung
- McLear Ltd.
- Xenoma Inc.
- BodiMetrics LLC
- Circular
- Sleepon
- Health Ring
- Wellue
- ORII by Origami Labs
- TheTouch X
- Nimb
- Neyya
- BioRing
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | December 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 0.36 Billion |
| Forecasted Market Value ( USD | $ 2.95 Billion |
| Compound Annual Growth Rate | 21.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
