Wearable Healthcare Devices Market, By Device Type (Diagnostic & Monitoring Devices (Glucose Monitoring Devices, Vital Sign Monitoring Devices, Sleep Monitoring Devices, Fetal Monitoring & Obstetric Devices, and Neuromonitoring Devices) and Therapeutic Devices (Respiratory Therapy Devices, Pain Management Devices, Rehabilitation Devices, and Insulin Pumps)), By Product Type (Smartwatches, Patches, and Others), By Application (Remote Patient Monitoring, Sports and Fitness, and Home Healthcare), Industry Trends, Estimation & Forecast, 2023-2030

Market Definition

Wearable healthcare devices are electronic devices that can be worn like smartwatches, patches, and others. Wearable healthcare devices are designed to collect the data of user personal health. Wearable healthcare devices are used for remote patient monitoring, sports and fitness, and home healthcare.

The Wearable Healthcare Devices market was valued at 18.9 billion US$ in 2022 and is projected to reach 54.2 billion US$ by 2030, at a CAGR of 14.1% during the forecast period.

Market Dynamics

Technologically advanced in wearable healthcare devices is a key driving factor of the market. For instance, The first wearable blood pressure monitor was introduced in 2019 and was called HeartGuide. HeartGuide can monitor blood pressure and daily activity, including actions taken, calories burned, and traveled distance. Further, Maxim Integrated Products, Inc. has introduced version 2.0 of the health sensor platform (HSP 2.0). The wrist-worn wearables help to monitor heart rate, ECG, and body temperature. Additionally, Philips has introduced Philips Biosensor BX100. Philips Biosensor BX100 has received 510(k) the U.S. Food and Drug Administration (FDA) clearance for its wearable biosensor to help manage COVID-19 patients in the hospital. Philips’s patient deterioration detection solution helps clinicians detect risk so that they can help improve care for patients in lower acuity care areas. However, security concerns related to wearable healthcare devices might hamper the market growth. The wearable healthcare devices are associated with privacy and security concerns due to the security breach. The security and privacy violations can occur when companies try to access information that is not related to the treatment, such as personal information for marketing purposes or sale to a third party. The information can also be used for identity theft. Moreover, the growing adoption of mobile platforms in healthcare would provide lucrative opportunities for the market in the coming years.

Market Segmentation

Global wearable healthcare devices market is mainly classified based on device type, product type, and application. Device Type is further segmented into Diagnostic & Monitoring Devices (Glucose Monitoring Devices, Vital Sign Monitoring Devices, Sleep Monitoring Devices, Fetal Monitoring & Obstetric Devices, and Neuromonitoring Devices) and Therapeutic Devices (Respiratory Therapy Devices, Pain Management Devices, Rehabilitation Devices, and Insulin Pumps). By product type, the market is divided into Smartwatches, Patches, and Others. By application, the market is further divided into Remote Patient Monitoring, Sports and Fitness, and Home Healthcare.

Diagnostic & Monitoring Devices was dominating the global wearable healthcare devices market in 2019, owing to the increasing adoption of self-monitoring vitals, regulatory approvals for diagnostic & monitoring devices, rising investment for developing advanced diagnostic & monitoring devices, and commercialization of new diagnostic & monitoring devices. For instance, BioIntelliSense, Inc., has introduced the BioButton device. The BioButton is a disposable medical device that measures continuous temperature and other vital signs for 90-days. BioIntelliSense offers early detection of adverse trends through its proprietary biosensor technology and advanced analytics.

Regional Analysis

Based on geography, the global wearable healthcare devices market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the global wearable healthcare devices market in 2019, due to the increasing penetration of smartphones, increasing preference for home healthcare, the partnership between companies to develop and commercialize new wearable healthcare devices, and increasing regulatory approvals for wearable healthcare devices.

For instance, LifeSignals has received U.S. Food and Drug Administration (FDA) clearance for its wireless LP1100 Life Signal Patch wearable, healthcare monitoring devices. LP1100 Life Signal Patch is a two-lead ECG and heart rate monitoring patch, providing three days of monitoring and continuous wireless data transmission.

Competitive landscape

Key players operating in the wearable healthcare devices industry include Apple, Inc., Fitbit, Inc., Koninklijke Philips N.V., Medtronic Plc, GE Healthcare, Dexcom, Inc., Abbott Laboratories, Biotelemetry, Inc., Omron Healthcare Co., Ltd., Garmin Ltd., Vitalconnect, Medibiosense Ltd., Masimo Corporation, Minttihealth, and Preventice Solutions, Inc.

The collaboration between companies for research and development activities for wearable healthcare devices, rising investment for development and distribution of wearable healthcare devices, technological advancement, and commercialization of regulatory approved wearable healthcare devices are some of the strategies adopted by the major companies. For instance, Vitls Inc. has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the Vitls Platform. The Vitls Platform includes a single device to continuously and remotely monitor the vital signs to assess the status of patients in multiple healthcare settings from the hospital to the home.

Wearable Healthcare Devices Market Key Segments:

By Device Type
• Diagnostic & Monitoring Devices
o Glucose Monitoring Devices
o Vital Sign Monitoring Devices
o Sleep Monitoring Devices
o Fetal Monitoring & Obstetric Devices
o Neuromonitoring Devices
• Therapeutic Devices
o Respiratory Therapy Devices
o Pain Management Devices
o Rehabilitation Devices
o Insulin Pumps

By Product Type
• Smartwatches
• Patches
• Others

By Application
• Remote Patient Monitoring
• Sports and Fitness
• Home Healthcare

Key Global Wearable Healthcare Devices Industry Players
• Apple, Inc.
• Fitbit, Inc.
• Koninklijke Philips N.V.
• Medtronic Plc
• GE Healthcare
• Dexcom, Inc.
• Abbott Laboratories
• Biotelemetry, Inc.
• Omron Healthcare Co., Ltd.
• Garmin Ltd.
• Vitalconnect
• Medibiosense Ltd.
• Masimo Corporation
• Minttihealth
• Preventice Solutions, Inc

Table of Content
1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope
2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources
3. Wearable Healthcare Devices Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Drivers
3.3.1. Technologically Advanced in Wearable Healthcare Devices
3.4. Restraints
3.4.1. Security Concerns Related to Wearable Healthcare Devices
3.5. Opportunity
3.5.1. Growing Adoption of Mobile Platforms in Healthcare
3.6. Porter’s Five Forces Analysis
3.6.1. Porter’s Five Forces Analysis
3.7. Market Share Analysis
4. Device Type Overview
4.1. Introduction
4.1.1. Market Size & Forecast
4.2. Diagnostic & Monitoring Devices
4.2.1. Market Size & Forecast
4.2.1.1. Glucose Monitoring Devices
4.2.1.1.1. Market Size & Forecast
4.2.1.2. Vital Sign Monitoring Devices
4.2.1.2.1. Market Size & Forecast
4.2.1.3. Sleep Monitoring Devices
4.2.1.3.1. Market Size & Forecast
4.2.1.4. Fetal Monitoring & Obstetric Devices
4.2.1.4.1. Market Size & Forecast
4.2.1.5. Neuromonitoring Devices
4.2.1.5.1. Market Size & Forecast
4.3. Therapeutic Devices
4.3.1. Market Size & Forecast
4.3.1.1. Respiratory Therapy Devices
4.3.1.1.1. Market Size & Forecast
4.3.1.2. Pain Management Devices
4.3.1.2.1. Market Size & Forecast
4.3.1.3. Rehabilitation Devices
4.3.1.3.1. Market Size & Forecast
4.3.1.4. Insulin Pumps
4.3.1.4.1. Market Size & Forecast
5. Product Type Overview
5.1. Introduction
5.1.1. Market Size & Forecast
5.2. Smartwatches
5.2.1. Market Size & Forecast
5.3. Patches
5.3.1. Market Size & Forecast
5.4. Others
5.4.1. Market Size & Forecast
6. Application Overview
6.1. Introduction
6.1.1. Market Size & Forecast
6.2. Remote Patient Monitoring
6.2.1. Market Size & Forecast
6.3. Sports and Fitness
6.3.1. Market Size & Forecast
6.4. Home Healthcare
6.4.1. Market Size & Forecast
7. Wearable Healthcare Devices Market Regional Overview
7.1. Introduction
7.1.1. Market Size & Forecast
7.2. North America Wearable Healthcare Devices Market
7.2.1. North America Market Size & Forecast, By Country
7.2.2. North America Market Size & Forecast, By Device Type
7.2.3. North America Market Size & Forecast, By Product Type
7.2.4. North America Market Size & Forecast, By Application
7.2.5. U.S.
7.2.5.1. Market Size and Forecast
7.2.6. Canada
7.2.6.1. Market Size and Forecast
7.2.7. Mexico
7.2.7.1. Market Size and Forecast
7.3. Europe Wearable Healthcare Devices Market
7.3.1. Europe Market Size & Forecast, By Country
7.3.2. Europe Market Size & Forecast, By Device Type
7.3.3. Europe Market Size & Forecast, By Product Type
7.3.4. Europe Market Size & Forecast, By Application
7.3.5. Germany
7.3.5.1. Market Size and Forecast
7.3.6. France
7.3.6.1. Market Size and Forecast
7.3.7. UK
7.3.7.1. Market Size and Forecast
7.3.8. Italy
7.3.8.1. Market Size and Forecast
7.3.9. Spain
7.3.9.1. Market Size and Forecast
7.3.10. Rest of Europe
7.3.10.1. Market Size and Forecast
7.4. Asia-Pacific Wearable Healthcare Devices Market
7.4.1. Asia-Pacific Market Size & Forecast, By Country
7.4.2. Asia-Pacific Market Size & Forecast, By Device Type
7.4.3. Asia-Pacific Market Size & Forecast, By Product Type
7.4.4. Asia-Pacific Market Size & Forecast, By Application
7.4.5. Japan
7.4.5.1. Market Size and Forecast
7.4.6. China
7.4.6.1. Market Size and Forecast
7.4.7. Australia
7.4.7.1. Market Size and Forecast
7.4.8. India
7.4.8.1. Market Size and Forecast
7.4.9. South Korea
7.4.9.1. Market Size and Forecast
7.4.10. Rest of Asia-Pacific
7.4.10.1. Market Size and Forecast
7.5. South America Wearable Healthcare Devices Market
7.5.1. South America Market Size & Forecast, By Country
7.5.2. South America Market Size & Forecast, By Device Type
7.5.3. South America Market Size & Forecast, By Product Type
7.5.4. South America Market Size & Forecast, By Application
7.5.5. Brazil
7.5.5.1. Market Size and Forecast
7.5.6. Argentina
7.5.6.1. Market Size and Forecast
7.5.7. Rest of South America
7.5.7.1. Market Size and Forecast
7.6. Middle East & Africa Wearable Healthcare Devices Market
7.6.1. Middle East & Africa Market Size & Forecast, By Country
7.6.2. Middle East & Africa Market Size & Forecast, By Device Type
7.6.3. Middle East & Africa Market Size & Forecast, By Product Type
7.6.4. Middle East & Africa Market Size & Forecast, By Application
7.6.5. GCC Countries
7.6.5.1. Market Size and Forecast
7.6.6. Egypt
7.6.6.1. Market Size and Forecast
7.6.7. South Africa
7.6.7.1. Market Size and Forecast
7.6.8. Rest of Middle East & Africa
7.6.8.1. Market Size and Forecast
8. Company Profile
8.1. Apple, Inc.
8.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
8.1.2. Apple, Inc. Product Category, Application, and Specification
8.1.3. Apple, Inc. Financial Performance (2016-2018)
8.1.4. Main Business/Business Overview
8.2. Fitbit, Inc.
8.3. Koninklijke Philips N.V.
8.4. Medtronic Plc
8.5. GE Healthcare
8.6. Dexcom, Inc.
8.7. Abbott Laboratories
8.8. Biotelemetry, Inc.
8.9. Omron Healthcare Co., Ltd.
8.10. Garmin Ltd.
8.11. Vitalconnect
8.12. Medibiosense Ltd.
8.13. Masimo Corporation
8.14. Minttihealth
8.15. Preventice Solutions, Inc