Americas Wearable Medical Device Market Size was valued at USD 6.5Billion in 2022. The Americas Wearable Medical Device market industry is projected to grow from USD 7.67Billion in 2023 to USD 28.39Billionby 2032, exhibiting a compound annual growth rate (CAGR) of 17.80% during the forecast period (2023 - 2032). Growth of pharmaceutical industries, increasing support provided by the government, and also increasing R&D investment, the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Epicore Biosystems, headquartered in the United States, secured funding in January 2024 from Pegasus Tech Ventures and Japanese Denka Company in order to expand its wearable operations to encompass Asian and Japanese markets. According to the company, the investment is a component of a larger succession of investments designed to facilitate the expansion of Epicore products. Epicore intends to concentrate its efforts on the Asian market due to the recent occurrence of heat waves and extreme temperatures across the continent. As heat frequently induces dehydration, monitoring hydration levels can be an effective preventative measure. Epicore's connected hydration is a wearable tracker that captures eccrine perspiration via a thin microfluidic substrate on the skin. The device incorporates sensors that monitor body movement, electrolyte loss, sweat volume, and body temperature.
Theranica, a provider of digital therapeutics for pain management, and Point32Health, the parent organization of Harvard Pilgrim Health Care and Tufts Health Plan, partnered in October 2022 to administer a 12-month pilot program to assist commercial Point32Health members with episodic and chronic migraine. Harvard Pilgrim Health Plan and Tufts Health Plan members will be granted access to Nerivio, a drug-free, smartphone-controlled wearable technology developed by Theranica that is supported by scientific evidence. This device is designed to assist individuals with episodic and chronic migraine.
Indigo Diabetes N.V., a pioneer in Continuous Metabolite Monitoring (CMM) devices, declared the establishment of Indigo Medical US Inc., its wholly owned subsidiary in the United States, in October 2022. Its CMM products have the potential to flourish in the United States, where the organization is currently expanding its operations. Due to the subcutaneous placement of the CMM sensor, individuals diagnosed with diabetes are no longer required to carry an external monitoring device. It has been developed to provide individuals with diabetes and their caregivers with the enhanced metabolic data required immediately to make more informed therapeutic decisions and maintain better diabetes control.
Americas Wearable Medical Device Market Trends
Market CAGR for Americas wearable medical device is being driven by the integration of Artificial Intelligence and Internet of Things. Al algorithms have revolutionized the way wearable collect, process, and interpret data. This has led to improved accuracy and real-time insights into health parameters, enabling users and healthcare professionals to make more informed decisions. Internet of Things connectivity facilitates seamless data transfer between wearable devices and other healthcare platforms, such as smart phones, tablets, and cloud-based systems. This interconnectivity allows for the creation of a comprehensive health profile for each user, enabling personalized healthcare recommendations and remote patient monitoring. For instance, wearable ECG monitors equipped with Al can detect abnormal heart rhythms and alert both users and healthcare providers, leading to timely interventions and improved patient outcomes.
Additionally, as chronic diseases continue to pose a significant healthcare burden in the Americas, wearable medical devices are increasingly being utilized for chronic disease management. These devices offer continuous monitoring of vital signs, physical activity, and other relevant health metrics, enabling early detection of complications and adherence to treatment plans.
Wearable devices cater to various chronic conditions, including diabetes, hypertension, respiratory disorders, and obesity. For example, continuous glucose monitoring (CGM) systems have gained popularity among diabetes patients, providing real-time glucose levels and alerting users to hypo or hyperglycemic events. Such devices not only empower patients to manage their conditions proactively but also offer valuable data for healthcare professionals to adjust treatment regimens and improve overall disease management.
In recent years, there has been a growing emphasis on mental health, and wearable medical devices are playing an instrumental role in addressing this concern. These devices are incorporating features like stress level tracking, sleep quality analysis, and mindfulness-based applications to provide users with insights into their mental well-being. Stress and mental health monitoring wearable utilize physiological markers such as heart rate variability, skin conductance, and sleep patterns to assess an individual's stress levels and emotional states. By recognizing signs of stress and anxiety, users can take necessary steps to mitigate their impact and seek appropriate professional help when needed.
For instance, the Americas wearable medical device market is witnessing substantial growth, with several trends shaping the industry's landscape. The integration of Al and loT technologies has enabled more accurate and real-time health data analysis, fostering personalized healthcare solutions. Additionally, wearable devices have become essential tools for chronic disease management, empowering patients to take charge of their health and aiding healthcare providers in delivering targeted care.
Furthermore, the focus on mental health monitoring through wearable devices signifies the growing awareness of the importance of mental well-being. These devices offer innovative solutions to combat stress and anxiety, enhancing the overall quality of life for users. It, driving the Americas Wearable Medical Device market revenue.
The Americas Wearable Medical Device market segmentation, based on type includes Diagnostic & Monitoring, Sign Monitoring, Therapeutic Devices. The sign monitoring segment dominated the market, accounting for 35% of market revenue (78.48 Billion). Sign monitoring wearable focus on tracking specific health signs or indicators that might be indicative of an underlying health issue. These devices are especially beneficial for patients with chronic conditions or those recovering from specific medical procedures.
The Americas Wearable Medical Device market segmentation, based on application, includes Fitness, Blood Pressure, Heart rate, Weight monitoring, Others. The fitness category generated the most income (70.4%). Fitness enthusiasts use these devices to track their performance, set goals, and analyze their progress over time. The integration of health and fitness apps with wearable devices has further fueled their popularity.
The Americas Wearable Medical Device market segmentation, based on end users, includes Sports person, Patients, others. Sports performance wearable is geared towards athletes and fitness enthusiasts, helping them optimize their training and performance. These wearable can include fitness trackers, smart clothing, and wearable GPS devices. They provide valuable data on parameters such as steps taken, distance covered, heart rate during exercise, and even analyze technique and form.
Figure1 Americas Wearable Medical Device Market, by End-Users, 2022&2032 (USD Billion) 
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Americas Wearable Medical Device Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Americas Wearable Medical Device market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Americas Wearable Medical Device industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Americas Wearable Medical Device industry to benefit clients and increase the market sector. In recent years, the Americas Wearable Medical Device industry has offered some of the most significant advantages to medicine. Major players in the Americas Wearable Medical Device market, including Apple, Abbott Laboratories, Basis Sciences, Fitbit, Garmin, Jawbone, Lifewatch AG, Omron Corporation, Philip Healthcare, Polar Electo, and others, are attempting to increase market demand by investing in research and development operations.
Abbott is a leader in multiple markets, with standout cardiovascular products, diabetes care technology, diagnostics, neuromodulation devices and nutritional products, as well as branded generic medicines in developing markets. While COVID-19 testing certainly was a significant driver for Abbott with the company delivering more than 400 million it wasn't the only growth. COVID-19 tests since the pandemic's start — driver. In fact, three of Abbott's four major businesses delivered positive sales growth despite shelter-in-place orders spurred by the pandemic and halts to non-essential travel and medical procedures. This growth helped Abbott achieve the upper-end of its original full- year 2020 EPS guidance of $3.65, despite the pandemic
Jawbone has seemingly gone silent over the course of a year, a far cry from the company's last blog post of substance, dating back to June 2016, when CEO Hosain Rahman asserted, "We're Still Committed." The executive's assertions were an attempt at addressing growing pushback from customers and press, following reports that the company was unloading assets ahead of a sale or liquidation. "Unfortunately, not everyone has access to what we witness every day," Rahman stated. "As some of you may have recently seen, there have been a few incorrect media reports that Jawbone is exiting the wearable business or going out of business altogether. These reports are unequivocally false." However, it turns out that Jawbone has been quietly selling off some assets, specifically part of its once-popular Jambox speaker business, as Business Insider reported in September 2016. A source tells us it is now completely gone.
Key Companies in the Americas Wearable Medical Device market include
Americas Wearable Medical DeviceIndustry DevelopmentsAbbott's FreeStyle Libre 2 and 3 continuous glucose monitoring (CGM) systems received FDA clearance for use during imaging tests such as X-rays, CT scans, and MRIs. This approval allows patients to maintain continuous glucose monitoring without sensor removal during these procedures, eliminating potential data gaps and enhancing diabetes management.
January 2022 Apple's Cook said little of Apple's direct iPhone revenue comes from refurbished devices. However he said the company has tried to bolster the used iPhone market by offering trade-in deals on its iPhones and building them sturdy enough to last several owners. Sales of refurbished iPhones rose 16% in volume ly
February 2021 The pandemic launched Abbott to the front lines of the most disruptive healthcare event in our lifetime as the company developed a portfolio of COVID-19 tests to help tackle the virus and get life back to normal.
| Attribute/Metric | Details |
| Market Size2022 | USD 6.5 Billion |
| Market Size 2023 | USD 7.65 Billion |
| Market Size2032 | USD 28.39 Billion |
| Compound Annual Growth Rate (CAGR) | 45.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, End-Users and Region |
| Countries Covered | America |
| Key Companies Profiled | Apple, Abbott Laboratories, Basis Sciences, Fitbit, Garmin, Jawbone, Lifewatch AG, Omron Corporation, Philip Healthcare, Polar Electo |
| Key Market Opportunities | People are suffering from obesity and problems related to it |
| Key Market Dynamics | Increasing growth of pharmaceutical industries and also increasing support provide by the government |
Americas Wearable Medical Device Market Highlights:
Frequently Asked Questions (FAQ) :
The Americas Wearable Medical Device market size was valued at USD 6.5Billion in 2022.
The market is projected to grow at a CAGR of 17.80% during the forecast period, 2023-2032.
The key players in the market are Apple, Abbott Laboratories, Basis Sciences, Fitbit, Garmin, Jawbone, Lifewatch AG, Omron Corporation, Philip Healthcare, Polar Electo
The Sign Monitoring category dominated the market in 2022.
The Fitness has the largest share in the market.
The Sports Person has the largest share in the market.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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