The global wearable medical devices market size was US$ 21.1 billion in 2021. The global wearable medical devices market is forecast to grow to US$ 161.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 24.9% during the forecast period from 2022 to 2030. 
Biomedical technology-enabled wearable solutions are gaining popularity due to the convenience it provides. These devices are designed to assist persons with chronic illnesses in better managing and monitoring their conditions. Integrated with advanced technology, these devices help patients reduce the symptoms and lower the risk of cardiac arrest.

Factors Influencing the Market
Wearable medical devices are gaining significant traction due to the rising cases of chronic diseases. These devices provide real-time data about blood pressure, regular steps, sugar level, etc. Moreover, they are easy to carry as they can be worn like bands, watches and t-shirts. These advancements are gaining significant traction and are expected to have strong potential in the future during the study period. 
The growing era of telemedicine is expected to bring untapped growth opportunities for wearable medical devices during the study period. Furthermore, rising demand for advancement and accuracy will also be opportunistic for the market. Industry players are also striving in the market, making continuous efforts towards advancements. For instance, Apple unveiled its Apple Watch Series 6 in 2020, which offers precise data through a blood oxygen sensor. 
On the flip side, privacy concerns associated with the use of wearable medical devices may limit the growth of the wearable medical devices market.

COVID-19 Impact Analysis
Daily health tracking has become a new normal after the wake of the COVID-19 pandemic. Due to the COVID-19 outbreak, telemedicine emerged as a significant solution to cope with the crisis. As a result, people started adopting smart wearables to track the real-time information related to heart rate, blood pressure, etc. Thus, it upsurged the demand for wearable medical devices.

Regional Analysis
The Asia-Pacific wearable medical devices are forecast to record the highest growth rate, owing to the high patient population, growing smartphone penetration, and increasing disposable income. Furthermore, the market is witnessing an improving lifestyle of the people as they are becoming more focused on health and technology. Thus, it will be opportunistic for the wearable medical devices market during the study period. In addition, growing disposable income and the availability of low-cost wearable devices will drive the wearable medical devices market forward.

Competitors in the Market
• Philips Electronics
• Fitbit
• Basis Science
• Garmin
• Covidien
• Omron Corp.
• Withings
• Vital Connect
• Polar Electro
• Intelesens
• Other Prominent Players

Market Segmentation
The global wearable medical devices market segmentation focuses on By-Product, Grade, Application, Distribution Channel, and Region. 
By-Products 
• Activity Monitors/Trackers
• Smartwatches
• Patches
• Smart Clothing 
By Grade Type 
• Consumer-grade
• Clinical-grade 
By Application 
• General Health & Fitness
• Remote Patient Monitoring
• Home Healthcare 
By Distribution Channel 
• Pharmacies
• Online Channel
• Hypermarkets
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America