Clinical-Grade Wearable Market Projected to Expand at 26.32% CAGR Through 2031 Driven by Adoption of ECG and Glucose Monitoring Devices

InsightAce Analytic Pvt. Ltd. announced the publication of a market research report titled " Global Clinical-Grade Wearable Market (By Product (Diagnostic Devices (Vital Sign Monitoring Devices (Heart Rate Monitors, Activity Monitors, Electrocardiographs, Pulse Oximeters, Spirometers, Blood Pressure Monitors, and Others), Sleep Monitoring Devices (Sleep trackers, Wrist Actigraphs, Polysomnographs, Others), Electrocardiographs Fetal And Obstetric Devices, Neuromonitoring Devices (Electroencephalographs, Electromyographs, Others)), Therapeutic Devices (Pain Management Devices(Neurostimulation Devices, Others), Insulin/Glucose Monitoring Devices (Insulin Pumps, Others), Rehabilitation Devices (Accelerometers, Sensing Devices, Ultrasound Platform, Others), Respiratory Therapy Devices (Ventilators, Positive Airway Pressure (PAP) Devices, Portable Oxygen Concentrators, and Others)), By Site(Handheld, Headband, Strap/Clip/Bracelet, Shoe Sensors, and Others), By Application(Sports And Fitness, Remote Patient Monitoring, and Home Healthcare)- Market Outlook and Industry Analysis 2031"

According to company's newest research, the global clinical-grade wearable market is worth 29.80 Billion in 2023 and is predicted to reach 190.10 Billion by the year 2031, with a promising CAGR of 26.32% between 2024 and 2031.

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Wearable clinical-grade medical devices comprise a network of patient-worn smart technologies-such as electronic skin patches, ECG monitors, and biosensors-integrated with sensors, actuators, and cloud-connected software. These devices enable continuous real-time health data collection and analysis, offering significant potential for enhancing patient-centered care. To date, over 1,550 clinical trials involving medical wearables have been conducted globally, with approximately one-third already completed. These clinical-grade solutions contribute to early disease detection, improved diagnostic accuracy, and overall healthcare efficiency by reducing time and costs.

The market encompasses a broad range of wearable medical technologies, including smartwatches, fitness trackers, wearable ECG and blood pressure monitors, and other biosensor-based devices. These solutions support extended, non-invasive patient monitoring-capabilities that are often unattainable with conventional diagnostic tools. Wearables have proven beneficial across a spectrum of conditions such as asthma, cancer, diabetes, and mental health disorders.

Key growth drivers for the clinical-grade wearable market include the rising demand for continuous health monitoring, growing public awareness around physical fitness, and the proliferation of technologically advanced products. The increasing prevalence of chronic conditions such as diabetes and hypertension is also expected to boost demand for diagnostic and monitoring devices over the forecast period.

However, the market faces several challenges. These include the absence of standardized regulatory frameworks, concerns regarding data accuracy and interoperability, and limitations in the analysis of wearable-generated data. High device costs, data privacy concerns, and restrictive reimbursement policies further hinder market expansion.

North America is projected to maintain a leading position in the global clinical-grade wearable device market throughout the forecast period. Contributing factors include robust reimbursement systems, high adoption rates of advanced technologies, and the entry of innovative market players. The growing burden of chronic disease in the region is amplifying the demand for cost-effective healthcare solutions, thereby driving greater adoption of clinical-grade wearables.

The key players involved in the market are Abbott Laboratories, Apple, Inc., Basis Science, Bio-Beat Technologies, Biotelemetry, Inc., Biotricity Inc., Contec Medical Systems Co. Ltd., Covidien, Cyrcardia Asia Limited, Dexcom, Inc., Fitbit, Garmin, Ge Healthcare, Intelesens Ltd., Irhythm Technologies, Inc., Koninklijke Philips N.V., Masimo Corporation, Medtronic Plc, Minttihealth, Omron Healthcare Co., Ltd. (A Part Of Omron Corporation), Polar Electro Preventice Solutions, Inc., Sotera Wireless, Ten3t Healthcare, Verily Life Sciences (A Part Of Alphabet Inc.), verist Genomics, Vitalconnect, Vivalnk, Inc., Withings, and Other Prominent Players

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Key Developments In The Market
• In Aug 2022, Medtronic established a partnership with BioIntelliSense for exclusive U.S. distribution of a multiparameter wearable device for continuous remote patient monitoring from the hospital to the patient's home. This facilitates the streamlining of care delivery through workflow automation, allowing for proactive clinical intervention and mitigating the effects of workforce shortages.
• In Jan 2022, Abbott announced that it is making a new type of bio wearables for consumers called Lingo. These devices will track critical signals in the body, such as glucose, and lactate, to help people understand their general health and take action. Lingo builds on the Abbott sensing technology platform that Abbott created in 2014 for people with diabetes. With a little sensor on the back of the upper arm, people can constantly check their glucose levels.
• In June 2021, Both Amazon and Apple Continued Their Investments in Digital and At-Home Healthcare (The MedTech Download). Apple has just recently revealed new health features that will be available for its devices, and these new capabilities will allow customers to track their health data better and share it with their doctors.

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Market Segmentation
Global Clinical-Grade Wearable Market, by Product, 2022-2030 (Value US$ Bn)
• Diagnostic Devices
o Vital Sign Monitoring Devices
 Heart Rate Monitors
 Activity Monitors
 Electrocardiographs
 Pulse Oximeters
 Spirometers
 Blood Pressure Monitors
 Others
o Sleep Monitoring Devices
 Sleep trackers
 Wrist Actigraphs
 Polysomnographs
 Others
o Electrocardiographs Fetal And Obstetric Devices
o Neuromonitoring Devices
 Electroencephalographs
 Electromyographs
 Others
• Therapeutic Devices
o Pain Management Devices
 Neurostimulation Devices
 Others
o Insulin/Glucose Monitoring Devices
 Insulin Pumps
 Others
o Rehabilitation Devices
 Accelerometers
 Sensing Devices
 Ultrasound Platform
 Others
o Respiratory Therapy Devices
 Ventilators
 Positive Airway Pressure (PAP) Devices
 Portable Oxygen Concentrators
 Others
Global Clinical-Grade Wearable Market, by Site, 2022-2030 (Value US$ Bn)
• Handheld
• Headband
• Strap/Clip/Bracelet
• Shoe Sensors
• Others
Global Clinical-Grade Wearable Market, by Application, 2022-2030 (Value US$ Bn)
• Sports And Fitness
• Remote Patient Monitoring
• Home Healthcare
Global Clinical-Grade Wearable Market, by Region, 2022-2030 (Value US$ Bn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Clinical-Grade Wearable Market, by Country, 2022-2030 (Value US$ Bn)
• U.S.
• Canada
Europe Clinical-Grade Wearable Market, by Country, 2022-2030 (Value US$ Bn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Clinical-Grade Wearable Market, by Country, 2022-2030 (Value US$ Bn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Clinical-Grade Wearable Market, by Country, 2022-2030 (Value US$ Bn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Clinical- Grade Wearable Market, by Country, 2022-2030 (Value US$ Bn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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