Press Release

United States Wearable Medical Devices Market to Grow with a CAGR of 19.13% through 2028

Ease-of-use and interpretation of medical devices and surging number of lifestyle diseases is expected to drive the United States Wearable Medical Devices Market growth in the forecast period, 2024-2028. 

 

According to TechSci Research report, “United States Wearable Medical Devices Market –Industry Size, Share, Trends, Competition Forecast & Opportunities, 2018-2028F”, the United States Wearable Medical Devices Market stood at USD 4.44 Billion in 2022 and is anticipated to project steady growth in the forecast period with a CAGR of 19.13% through 2028. Several key factors are driving the growth of the wearable medical devices market in the United States. The rising awareness among individuals about fitness and health is one significant factor. Wearable devices offer capabilities like tracking heart rate, calories consumed, and sleep patterns, leading to their increased adoption.

Furthermore, the growing prevalence of chronic diseases and the aging population in the US necessitates constant health monitoring, propelling the demand for these devices. Technological advancements in IoT and wireless technologies are also contributing to this growth, enhancing the functionality and user experience of wearable medical devices.

 

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The United States Wearable Medical Devices Market is a rapidly evolving and dynamic sector within the healthcare industry. It encompasses a wide range of innovative products, including fitness trackers, smartwatches with advanced health monitoring features, wearable glucose monitors, wearable ECG monitors, and many more. These cutting-edge devices offer real-time health monitoring capabilities, empowering users to effortlessly track and manage their fitness levels, heart rate, blood pressure, sleep patterns, and other vital health metrics.

The market's growth is fueled by several key factors. Continuous technological advancements drive the development of increasingly sophisticated wearable medical devices, offering enhanced accuracy, convenience, and user-friendly interfaces. For example, wearable glucose monitors now come with advanced algorithms that analyze blood sugar trends and provide personalized insights for better diabetes management. Similarly, wearable ECG monitors have evolved to provide detailed reports and alerts for early detection of cardiac abnormalities.

The growing health consciousness among consumers has created a demand for personalized health monitoring solutions that can seamlessly integrate into their daily lives. Wearable medical devices are now designed to be sleek, comfortable, and aesthetically pleasing, encouraging users to incorporate them into their routines effortlessly. For instance, fitness trackers have evolved from basic step counters to comprehensive health and wellness companions, offering features such as guided workouts, sleep analysis, and stress management tools.

The rising prevalence of chronic diseases, such as diabetes and cardiovascular conditions, has underscored the importance of continuous health monitoring and disease management. Wearable medical devices provide individuals with the ability to monitor their health parameters in real-time, facilitating early intervention and preventive measures. For example, wearable blood pressure monitors enable users to track their blood pressure trends throughout the day, helping them identify triggers and make necessary lifestyle modifications.

The United States Wearable Medical Devices Market represents a thriving multi-billion dollar industry. However, the potential for growth in this sector is immense. With ongoing advancements in technology, increasing consumer awareness, and a focus on preventive healthcare, the market is poised for significant expansion in the coming years. The integration of artificial intelligence, machine learning, and data analytics into wearable medical devices holds great promise for improving personalized healthcare and transforming the way individuals monitor and manage their well-being. For instance, AI algorithms can analyze wearable data to provide personalized health recommendations and predict health risks, enabling proactive healthcare interventions. The United States Wearable Medical Devices Market is driven by technological advancements, consumer demand for personalized health monitoring, and the need for continuous disease management. With the potential to revolutionize healthcare, this industry is expected to experience substantial growth in the future as it continues to innovate and improve the way individuals monitor and manage their health.

The United States Wearable Medical Devices Market is segmented into type, product type, purpose, site, application, distribution channel, regional distribution, and company.

Based on application, in the United States, the Wearable Medical Devices Market is expected to be dominated by General Health & Fitness applications. This is primarily due to the increasing interest in health and well-being among consumers, coupled with a growing emphasis on preventive healthcare. As wearable technology continues to advance, it has enabled individuals to conveniently monitor vital health parameters such as heart rate, sleep patterns, physical activity levels, and even stress levels, all at their fingertips. This development has significantly empowered users by providing them with actionable insights and enabling them to make more informed decisions about their health and fitness.

Moreover, the integration of advanced sensors and real-time data analysis capabilities in wearable devices has revolutionized the way individuals manage their overall well-being. With the ability to track and analyze various health metrics, users can identify patterns, set goals, and proactively manage their health. For instance, wearable devices can provide personalized recommendations based on the user's activity levels, sleep quality, and heart rate variability, helping them optimize their lifestyle choices and improve their overall well-being. As a result of these advancements, there is a rising demand for general health and fitness wearables, as users seek to proactively manage and optimize their overall well-being. The convenience and accessibility of wearable devices make them an invaluable tool for individuals looking to take control of their health and make positive lifestyle changes. With the continuous evolution of wearable technology, the future holds even greater potential for improving health outcomes and empowering individuals to lead healthier, more fulfilling lives.

Based on region, the Western region of the United States is well-positioned to spearhead the Wearable Medical Devices market due to several compelling factors. This region boasts a vibrant ecosystem of high-tech companies, including industry giants specializing in wearable technology. The concentration of such innovative enterprises creates a conducive environment for research, development, and manufacturing of cutting-edge wearable medical devices. Moreover, the population in the Western region exhibits a growing awareness of health and fitness, driven by a desire for a healthier lifestyle. This trend is further bolstered by higher disposable incomes, allowing individuals to invest in wearable medical devices that monitor their health and well-being.

Furthermore, the Western region benefits from a robust healthcare infrastructure, including advanced hospitals, clinics, and research institutions. The region's healthcare professionals are well-versed in the utilization of technological advancements in the medical field, facilitating the adoption and acceptance of wearable medical devices among both healthcare providers and patients. This widespread acceptance, combined with the region's progressive approach to embracing new technologies, further solidifies its leading position in the Wearable Medical Devices market.

 

Major companies operating in the United States Wearable Medical Devices Market are:

  • Abbott Laboratories, Inc.
  • Fitbit, Inc.
  • Apple, Inc.
  • GE Healthcare
  • Masimo Corporation
  • Dexcom Inc.
  • Biotelemetry Inc.
  • iRhythm Technologies, Inc.
  • Preventice Solutions, Inc.
  • Medtronic plc

 

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“The future of the United States wearable medical devices market looks incredibly promising, fueled by continuous advancements in technology, a growing focus on health awareness, and the rising prevalence of chronic diseases. These factors are driving the exponential growth of wearable medical devices, which are expected to transcend beyond mere fitness tracking. Instead, they will encompass more sophisticated medical applications, including remote patient monitoring for conditions such as cardiovascular disease and diabetes. As a result, wearable medical devices are poised to play a significant and transformative role in shaping the future of healthcare in the United States, revolutionizing patient care, improving treatment outcomes, and enhancing overall well-being.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

United States Wearable Medical Devices Market By Type (Vital Signs Monitoring Devices, Therapeutic Devices), By Product Type (Activity Monitors/Trackers, Smartwatches, Patches, Smart Clothing), By Purpose (Heart rate, Blood Pressure, Body Temperature, Blood oxygen saturation, Posture, Physical Activities, Hearing Aids, Others), By Site (Handheld, Headband, Strap/Clip/Bracelet, Shoe Sensors, Others), By Application (General Health & Fitness, Remote Patient Monitoring, Home Healthcare),By Distribution Channel (Store-Based, Non-Store-Based), By Region, Competition, Forecast and& Opportunities, 2018-2028F”, has evaluated the future growth potential of United States Wearable Medical Devices Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States Wearable Medical Devices Market.

 

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