North America Wearable Medical Devices Market

North America Wearable Medical Devices Market Size (2024 to 2029)

The Wearable Medical Devices Market Size in North America is estimated to be worth USD 9926.50 million by 2029 and USD 3920.15 million in 2024, growing at a CAGR of 20.42% during the forecast period. It has a predominant share in the global market and continues to in the future.

Wearable medical devices are sensors connected to the body that detect and monitor changes in body signatures in various areas and organs. Over the period market is expected to grow significantly owing to the increasing incidence of chronic pain and diabetes and a rising number of innovations and new technologies in the healthcare sector in North America. Most wearable medical devices are designed to measure activities such as walking, running, muscle activity, calories burned, heart rate, and so on, in addition to exercise. Furthermore, some even incorporate GPS tracking and monitoring to increase distance-measuring accuracy.

Coming to these types of wearable medical devices, the two primary purposes of wearable technology are to monitor various bodily markers and to keep the user well-informed on health conditions by syncing the relevant data to electronic devices such as smartphones. Wearable medical devices feature wireless data transmission, real-time feedback, and alerting mechanisms and have smooth and timely sensing abilities. The data generated by wearable medical devices is further analyzed and used by customers for better health management. They help monitor bodily conditions like blood sugar, heart diseases, blood pressure ingestion, pain relief, brain activity, hydration, temperature, sleep, etc.

Increasing incidences of chronic conditions such as obesity and awareness among people, combined with the well-developed economic and technological facilities, favor the growth of the wearable devices market in North America. Also, companies catering to specific needs make the market more competitive and user-friendly by increasing product choices at lower prices. Additionally, the growing adoption of mobile platforms and the increasing adoption of AI and 5G in the United States contribute the most significant share to the North American regional market growth.

Furthermore, the growing awareness and preference for home healthcare and the availability of healthcare infrastructure in the region are influencing the market growth. The growth of home healthcare and remote patient monitoring devices is anticipated to propel market growth. Medical wearable electronics have various uses, including sports and fitness, remote patient monitoring, and home healthcare. Home healthcare monitoring accounts for the largest share. Furthermore, technology advancements that allow consumers to be more accessible and connected have boosted product sales in recent years; this has provided the healthcare industry with novel patient and illness management options. Furthermore, the ability of wearable technology to improve patient care quality while lowering costs will drive overall market development.

However, wearable medical devices face challenges mainly in allocating cost-effective monitoring to patients and providing multi-platform functionality, which is expected in well-developed countries like Canada and America. These factors may act as growth hurdles for wearable technology in this region. Further, privacy concerns concerning transmitting sensitive patient information and the need for miniaturized devices with long battery life are a few challenges the industry faces in the current scenario.

This research report on the North America Wearable Medical Devices Market is segmented and sub-segmented into the following categories.

North America Wearable Medical Devices Market Analysis By Type

• Wearable Electro-Cardiographs 
• Wearable Sleep Monitoring devices
• Heart Rate Monitors
• Blood Pressure Monitors
• Activity Monitors
• Electro Encephalogram

North America Wearable Medical Devices Market  Analysis By Therapeutic Wearable Devices

• Pain Management Devices
• Glucose/Insulin Monitoring Devices
• Respiratory Therapy Devices

North America Wearable Medical Devices Market  Analysis By Application

• Sports and Fitness
• Home Healthcare
• Patient Monitoring

North America Wearable Medical Devices Market  Analysis By Country

• The United States
• Canada
• Rest of North America

Geographically, the North American region held the largest share of the global wearable medical devices market in 2023. Rising per capita income and the accessibility of use and interpretation of medical equipment are significant drivers of market growth. In addition, developed economies such as the United States and Canada are expected to provide a wide range of opportunities for players in the industry.

The market of the United States wearable medical devices is expected to grow tremendously during the forecast timeline. The typical rise in chronic diseases such as cancer, diabetes, breathing illness, and many more mainly drives the market in the United States. Advancements in technology like AI and IoT are integrated with innovative product launches by many critical players who produce profitable outcomes in this region. Increasing customer importance for wearable devices and technologies propels the market growth. According to the National Diabetes Statistics Report, diabetes affected 34.2 million people of all ages in the United States in 2018, accounting for 10.5 percent of the population. Chronic illness risk is rising due to a sedentary lifestyle and a changing diet. The segment is being boosted by a large patient pool and an extensive scope of innovation in the region due to many manufacturers.

The Canadian wearable medical devices market is anticipated to have a healthy CAGR in the upcoming years. With increasing multi-platform functionalities in Canada and growing usage of these wearable devices for biofeedback, the growing adoption of cloud-based technology is majorly pushing the wearable medical devices market in Canada.

KEY MARKET PLAYERS

Some of the prominent companies leading the North America Wearable Medical Devices Market Profiled in the Report are Fitbit, Garmin, Jawbone, Polar Electro, Vital connect, Withings SAS, Zephyr Corporation, Basis Science, Omron Corporation, Drager, Lifewatch AG, Sotera Wireless, Abbott Laboratories, and Nuubo.