The global wearable medical devices market size accounted for USD 42.71 billion in 2024 and is expected to exceed around USD 430.76 billion by 2034, growing at a CAGR of 26% from 2024 to 2034.
The wearable medical devices market refers to the production, distribution, and use of these devices, which are relatively new and rapidly growing areas of medical device development and may soon be the target of greater oversight by the U.S. Food and Drug Administration and the European Commission. It is an autonomous and non-invasive device that performs a specific medical function like monitoring or support over a prolonged period. The most common use of these devices is to monitor and alert the wearer about their personal health information. The rising senior population, adoption of IoT and AI, technological advancement, and increasing health and fitness awareness are driving the growth of the wearable medical devices market.
The challenging factors of the market include the high cost of devices, privacy and data security, and battery life issues that can limit the growth of the market. The future scope of the market includes advancements in health tracking features, innovations with flexible displays, reduced costs, and increased investment in research and development, all of which will help the growth of the wearable medical devices market.
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| Stats ID: | 7730 |
| Format: | Databook |
| Published: | January 2025 |
| Price | US$ 1550 |
Immediate Delivery
| Stats ID: | 7730 |
| Format: | Databook |
| Published: | January 2025 |
| Price | US$ 1550 |
Immediate Delivery
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