Wearable Medical Devices Market Expected to Raise Moderately over 2028

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Wearable Medical Devices Market Overview
The Wearable Medical Devices Market is anticipated to experience strong double-digit growth by 2028. Key growth drivers include the rising prevalence of chronic diseases, growing focus on fitness and home healthcare, and increased adoption of wearable devices post-Covid-19. Technological advancements, such as the integration of artificial intelligence (AI), Internet of Things (IoT), and advanced sensors, are transforming wearable devices into more accurate, personalized, and predictive health tools. These innovations are enabling real-time data analysis and preventive healthcare, empowering consumers to take proactive control of their wellness.

Understanding Wearable Medical Devices
Wearables are intelligent electronic devices designed to monitor and improve personal health. Integrating hardware, software, and mobile apps, they collect and analyze health data, transmitting it to the cloud for advanced analytics. Common wearable medical devices include:
Smartwatches: Modern smartwatches have evolved to measure various health metrics such as steps, calories, oxygen levels, and EKG reports.
Advanced Care & Alert Portable Telemedical Monitor (AMON): Used in clinical settings to measure vital signs like pulse and oxygen levels.
Continuous Glucose Monitoring (CGM): A major innovation for diabetes management, CGMs use sensors to automatically track glucose levels throughout the day.

Impact of COVID-19 on Market Growth
The Covid-19 pandemic significantly boosted wearable device adoption, as self-monitoring became crucial for managing symptoms. Diagnostic device manufacturers reported strong revenue gains—Garmin Ltd., for instance, recorded an 11.4% revenue increase in 2020, with fitness segment growth of 25.8%. Companies like Xiaomi launched devices such as Mi Smart Band 6 with SpO2 measurement to monitor Covid-related symptoms. Even as Covid-19 cases declined, the demand for health-monitoring devices remained high due to increased awareness about infection prevention and early diagnosis. Fitness trackers and smartwatches with health sensors continue to witness strong demand globally.

Expert Insight
"Rising demand for wearable medical devices post Covid-19 is driven by increased awareness for fitness & healthy lifestyle, early diagnosis of diseases, and growing adoption of artificial intelligence. Industry challenges include regulatory approvals, device reliability, safety, and seamless battery integration."
– Vice President, Technology and Customer Solutions, Leading Manufacturer

Growing Demand Amid Chronic Diseases
The rising burden of chronic illnesses such as diabetes and cardiovascular diseases is a major factor driving the wearable medical devices market. Sedentary lifestyles and unhealthy habits have increased mortality rates and disease risks. According to WHO, cardiovascular diseases account for 32% of global deaths (17.9 million annually). In Europe alone, over 3.9 million people die from CVDs each year. These trends underscore the growing need for wearable technologies that can continuously monitor parameters such as blood pressure and glucose levels, promoting early diagnosis and preventive healthcare. Additionally, the aging population and rising healthcare costs are accelerating the shift toward remote patient monitoring and telemedicine, further enhancing market potential.

Competitive Landscape
Key players in the market include Xiaomi Technology Co., Fitbit Inc., Philips Electronics (acquired Biotelemetry, Inc.), Garmin Corporation, Apple Inc., Huawei Technologies Co. Ltd., Polar Electro, OMRON Corporation, Sotera Wireless, and Intelesens Ltd.

Growth Strategies and Recent Developments
Companies are adopting both organic and inorganic strategies such as product launches, partnerships, and mergers to strengthen their market presence.

• June 2023: Google rolled out a feature update for Pixel phones, Pixel Watch, and Fitbit devices, adding new exercise modes and daily fitness scores.
• May 2023: Medtronic acquired EOFlow Co. Ltd., manufacturer of the EOPatch insulin delivery system, expanding its diabetes care portfolio.
• April 2023: Audere launched HealthPulse TestNow, South Africa's first COVID-19 self-test guidance app.
• January 2023: Masimo and Philips expanded their collaboration to integrate the Masimo W1 health-tracking watch with Philips's telemonitoring ecosystem.

Future Outlook
The Wearable Medical Devices Market is poised for continued momentum, supported by rapid technological innovations, AI integration, 5G connectivity, and strategic collaborations among industry leaders. Growing consumer awareness and the push for preventive healthcare are expected to sustain market growth in the years ahead. The future of wearables will likely focus on continuous diagnostics, predictive analytics, and personalized healthcare insights, paving the way for smarter and more connected digital health ecosystems worldwide.

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Table Of Content:

1. Research Methodology
2. Secondary Research
3. Primary Research
4. Market Estimation
5. Market Forecasting
6. Executive Summary
7. Market Overview
8. Market Dynamics
• Drivers
• Restraints
• Opportunities
9. Industry Speaks
10. Wearable Medical Devices Market - Size & Forecast (2023-2028), By Device Type
• Diagnostic Devices
• Vital Sign Monitoring Devices
• Sleep Monitoring Devices
• Electrocardiographs Fetal and Obstetric Devices
• Neuromonitoring Devices
• Therapeutic Devices
• Pain Management Devices
• Insulin/Glucose Monitoring Devices
• Rehabilitation Devices
• Respiratory Therapy Devices

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