Global Wearable and IoMT Medical Devices Market Size, Share and Trends Analysis Report – Industry Overview and Forecast to 2032

Wearable and IoMT Medical Devices Market Size

• The global wearable & IoMT medical devices market size was valued at USD 14.85 billion in 2024 and is expected to reach USD 41.77 billion by 2032, at a CAGR of 13.80% during the forecast period
• The market growth is largely fueled by the growing adoption of digital healthcare technologies and the rapid technological advancements in wearable and internet of medical things (IoMT) devices, leading to increased digitalization in hospitals, clinics, and homecare settings
• Furthermore, rising demand from patients and healthcare providers for continuous health monitoring, real-time data collection, and user-friendly, connected medical solutions is driving the adoption of wearable and IoMT medical devices. Integration with mobile applications, cloud platforms, and telemedicine systems enhances patient care and operational efficiency

Wearable and IoMT Medical Devices Market Analysis

• Wearable & IoMT medical devices, including connected wearable monitors, implantable devices, and stationary IoMT systems, are increasingly vital components of modern healthcare ecosystems due to their real-time health monitoring, remote patient management capabilities, and seamless integration with digital health platforms
• The escalating demand for wearable & IoMT medical devices is primarily fueled by the growing adoption of telemedicine, increasing prevalence of chronic diseases, rising healthcare digitalization, and a strong emphasis on preventive care and remote patient monitoring
• North America dominated the wearable & IoMT medical devices market with the largest revenue share of 49% in 2024, characterized by advanced healthcare infrastructure, high disposable incomes, and a strong presence of key industry players, with the U.S. experiencing substantial growth in wearable & IoMT device adoption, particularly in hospitals, ambulatory surgical centers, and homecare settings, driven by innovations from both established medical technology companies and startups focusing on AI-enabled monitoring and cloud-based platforms
• Asia-Pacific is expected to be the fastest growing region in the wearable & IoMT medical devices market during the forecast period due to increasing healthcare investments, rising disposable incomes, expanding telemedicine adoption, and growing awareness of digital health solutions
• The Wearable External Medical Devices segment dominated the global wearable & IoMT medical devices market with a largest revenue share of 48.7% in 2024, driven by the increasing adoption of smartwatches, fitness trackers, and biosensors for continuous health monitoring

Report Scope and Wearable & IoMT Medical Devices Market Segmentation           

Wearable & IoMT Medical Devices Market Trends

Enhanced Convenience Through Real-Time Health Monitoring and Connectivity

• A significant and accelerating trend in the global wearable & IoMT medical devices market is the deepening integration of devices with cloud-based health platforms, remote monitoring systems, and mobile applications. This fusion of technologies is significantly enhancing user convenience, enabling real-time health tracking, and improving clinical decision-making
• For instance, modern wearable monitors seamlessly connect with smartphone apps and cloud platforms, allowing users and healthcare providers to track vital signs such as heart rate, blood glucose, and blood pressure in real time. Similarly, advanced IoMT-enabled implantable devices provide continuous monitoring for cardiovascular and neurological conditions, offering actionable health insights
• Integration with cloud platforms enables features such as personalized health recommendations based on continuous monitoring data, early detection of anomalies, and intelligent alerts for abnormal readings. For instance, some wearable cardiac monitors can detect arrhythmias and automatically notify both patients and clinicians, enhancing timely intervention. Furthermore, connectivity features allow patients to share their data securely with multiple healthcare providers, supporting coordinated care and improved health outcomes
• The seamless integration of wearable and IoMT devices with digital health platforms facilitates centralized management of multiple health parameters. Through a single interface, users can track fitness metrics, chronic disease indicators, and other physiological data, creating a holistic view of their health status
• This trend towards more connected, intuitive, and data-driven medical devices is fundamentally reshaping user expectations for personal and clinical healthcare management. Consequently, companies are developing next-generation wearable and IoMT solutions with features such as continuous monitoring, automated health alerts, and seamless app-based connectivity
• The demand for wearable & IoMT medical devices that offer real-time monitoring, remote connectivity, and integrated health management is growing rapidly across both clinical and homecare settings, as patients and providers increasingly prioritize convenience, preventive care, and comprehensive digital health functionality

Wearable & IoMT Medical Devices Market Dynamics

Driver

Growing Need Due to Rising Health Awareness and Remote Patient Monitoring Adoption

• The increasing prevalence of chronic diseases, coupled with the accelerating adoption of telemedicine and connected healthcare solutions, is a significant driver for the heightened demand for wearable & IoMT medical devices
• For instance, in 2022, the U.S. Centers for Medicare & Medicaid Services (CMS) expanded reimbursement policies for RPM, which significantly increased the use of devices like Dexcom’s continuous glucose monitors and Medtronic’s cardiac monitoring systems. This trend reflects growing health awareness among patients who now prefer continuous, real-time tracking of vital signs without frequent hospital visits
• As patients and healthcare providers become more aware of the benefits of continuous monitoring, wearable and IoMT devices offer advanced features such as real-time health tracking, automated alerts, and integration with electronic health records, providing a compelling upgrade over traditional monitoring methods
• Furthermore, the growing popularity of digital health platforms and the desire for proactive, connected healthcare are making wearable & IoMT devices integral components of modern healthcare ecosystems, offering seamless integration with telemedicine, hospital information systems, and mobile applications
• The convenience of remote monitoring, continuous data collection, and the ability to manage health conditions via smartphone applications are key factors propelling the adoption of wearable & IoMT devices in both clinical and homecare settings. The trend towards patient-centered care and the increasing availability of user-friendly devices further contribute to market growth

Restraint/Challenge

Concerns Regarding Data Security and High Initial Costs

• Concerns surrounding the cybersecurity vulnerabilities of connected healthcare devices, including wearable & IoMT systems, pose a significant challenge to broader market penetration. As these devices rely on network connectivity and software, they are susceptible to hacking attempts and data breaches, raising anxieties among potential users about the privacy of their health data
• For instance, reports of vulnerabilities in certain connected health devices have made some patients and healthcare providers hesitant to adopt these technologies
• Addressing these cybersecurity concerns through robust encryption, secure authentication protocols, and regular software updates is crucial for building user trust. Companies such as Fitbit, Medtronic, and Philips emphasize their advanced encryption methods and security features in their marketing to reassure potential buyers
• In addition, the relatively high initial cost of some advanced wearable & IoMT medical devices compared to traditional monitoring solutions can be a barrier to adoption for price-sensitive users, particularly in developing regions or for budget-conscious healthcare providers
• While prices are gradually decreasing, the perceived premium for advanced connected healthcare technology can still hinder widespread adoption, especially for users who do not see an immediate need for sophisticated features
• Overcoming these challenges through enhanced cybersecurity measures, consumer and clinician education on security best practices, and the development of more affordable wearable & IoMT medical device options will be vital for sustained market growth

Wearable & IoMT Medical Devices Market Scope

The market is segmented on the basis of type, application, and end-user.

• By Type

On the basis of type, the wearable & IoMT medical devices market is segmented into wearable external medical devices, implanted medical devices, stationary medical devices, and others. The Wearable External Medical Devices segment dominated the market with a largest revenue share of 48.7% in 2024, driven by the increasing adoption of smartwatches, fitness trackers, and biosensors for continuous health monitoring. These devices offer real-time tracking of vital signs, integration with mobile applications, and remote monitoring capabilities, making them highly preferred among patients and healthcare providers alike. Their portability, ease of use, and compatibility with telemedicine platforms further strengthen their position. The demand for these devices is particularly high in chronic disease management and preventive healthcare programs. Consumer preference for non-invasive, easy-to-use, and connected devices is boosting the segment’s market share.

The implanted medical devices segment is expected to witness the fastest CAGR of 19.3% from 2025 to 2032, fueled by innovations in pacemakers, neurostimulators, and insulin pumps. These devices provide continuous monitoring and therapeutic functions within the patient’s body, offering precise data collection and intervention capabilities. Increasing investments in research and development, along with growing awareness of minimally invasive procedures, are driving adoption. Rising prevalence of chronic diseases and cardiovascular conditions is also contributing to the growth of implanted devices. Furthermore, integration with IoMT platforms enhances remote monitoring and data-driven treatment adjustments, making this segment a high-growth area.

• By Application

On the basis of application, the wearable & IoMT medical devices market is segmented into patient monitoring, telemedicine, medication management, and others. The patient monitoring segment held the largest revenue share of 52.1% in 2024, owing to the growing need for continuous monitoring of vital signs such as heart rate, blood pressure, and glucose levels. Hospitals, diagnostic centers, and homecare providers are increasingly adopting wearable devices to improve patient outcomes, reduce hospital visits, and enable remote monitoring. Integration with AI-driven analytics and mobile apps enhances early detection of anomalies, making this the most attractive application area. The segment benefits from rising chronic disease prevalence and increasing awareness about preventive healthcare solutions.

The telemedicine segment is projected to witness the fastest CAGR of 21.5% from 2025 to 2032, driven by the surge in virtual healthcare services and remote consultation platforms. Wearable and IoMT devices play a pivotal role in enabling telehealth by providing real-time health data to clinicians. The growing focus on home-based care, reduction in hospital visits, and rising adoption of connected health solutions are major growth drivers. Additionally, government initiatives promoting telemedicine infrastructure and reimbursement policies for remote care further accelerate the segment’s growth. The convergence of wearable technology with telemedicine platforms is shaping a high-demand, fast-growing market.

• By End-User

On the basis of end-user, the wearable & IoMT medical devices market is segmented into healthcare providers, patients, government authorities, and others. The healthcare providers segment dominated with the largest revenue share of 55.3% in 2024, as hospitals, clinics, and specialty centers increasingly implement wearable and IoMT devices for monitoring, diagnostics, and patient management. Providers prioritize devices that enable continuous monitoring, seamless data integration, and improved operational efficiency. Growing investments in digital healthcare infrastructure and the rising need for remote patient management further strengthen this segment.

The patients segment is expected to witness the fastest CAGR of 20.8% from 2025 to 2032, driven by the increasing consumer adoption of wearable devices for personal health monitoring. Patients are actively seeking solutions for chronic disease management, fitness tracking, and preventive healthcare. Rising awareness about health data accessibility, convenience, and the benefits of real-time monitoring are key factors propelling this segment. The integration of these devices with smartphones and telemedicine platforms empowers patients to participate in their own healthcare management, fueling rapid adoption.

Wearable & IoMT Medical Devices Market Regional Analysis

• North America dominated the wearable & IoMT medical devices market with the largest revenue share of 49% in 2024, characterized by advanced healthcare infrastructure, high disposable incomes, and a strong presence of key industry players
• The U.S. experienced substantial growth in wearable & IoMT device adoption, particularly in hospitals, ambulatory surgical centers, and homecare settings
• Driven by innovations from both established medical technology companies and startups focusing on AI-enabled monitoring and cloud-based platforms

U.S. Wearable & IoMT Medical Devices Market Insight

The U.S. wearable & IoMT medical devices market captured the largest revenue share of 81% in 2024 within North America, fueled by the swift uptake of connected devices and the expanding trend of remote patient monitoring. Consumers and healthcare providers are increasingly prioritizing continuous health monitoring, preventive care, and digital health integration. The growing preference for connected healthcare setups, combined with robust demand for telemedicine-compatible devices and mobile application integration, further propels the Wearable & IoMT Medical Devices industry.

Europe Wearable & IoMT Medical Devices Market Insight

The Europe wearable & IoMT medical devices market is projected to expand at a substantial CAGR throughout the forecast period, primarily driven by stringent healthcare regulations and the escalating need for advanced patient monitoring solutions in hospitals and clinics. The increase in digital healthcare adoption, coupled with rising awareness of connected medical devices, is fostering market growth. European consumers and healthcare providers are also drawn to the convenience, efficiency, and data-driven insights these devices offer.

U.K. Wearable & IoMT Medical Devices Market Insight

The U.K. wearable & IoMT medical devices market is anticipated to grow at a noteworthy CAGR during the forecast period, driven by the rising trend of digital healthcare adoption and a desire for enhanced patient care, monitoring, and convenience. Additionally, concerns regarding healthcare efficiency and chronic disease management are encouraging both hospitals and homecare providers to implement wearable & IoMT solutions. The U.K.’s robust healthcare infrastructure and e-health initiatives are expected to continue to stimulate market growth.

Germany Wearable & IoMT Medical Devices Market Insight

The Germany wearable & IoMT medical devices market is expected to expand at a considerable CAGR during the forecast period, fueled by increasing awareness of digital healthcare solutions and the demand for technologically advanced, eco-conscious monitoring systems. Germany’s well-developed healthcare infrastructure, emphasis on innovation, and integration of connected medical devices in hospitals and clinics promote market adoption, particularly in patient monitoring and chronic disease management.

Asia-Pacific Wearable & IoMT Medical Devices Market Insight

The Asia-Pacific wearable & IoMT medical devices market is poised to grow at the fastest CAGR during the forecast period, driven by increasing healthcare investments, rising disposable incomes, expanding telemedicine adoption, and growing awareness of digital health solutions in countries such as China, Japan, and India. The region’s growing inclination towards connected healthcare, supported by government initiatives promoting digitalization, is driving the adoption of wearable & IoMT medical devices. Furthermore, as APAC emerges as a manufacturing hub for medical device components and systems, the affordability and accessibility of wearable & IoMT solutions are expanding to a wider healthcare and homecare user base.

Japan Wearable & IoMT Medical Devices Market Insight

The Japan wearable & IoMT medical devices market is gaining momentum due to the country’s high-tech healthcare infrastructure, rapid urbanization, and demand for convenient patient monitoring solutions. The Japanese market emphasizes proactive healthcare management, and the adoption of wearable & IoMT devices is driven by hospitals, clinics, and homecare providers. Integration with digital health platforms and remote monitoring systems is fueling growth, while the aging population is expected to spur demand for easy-to-use, secure, and connected healthcare solutions.

China Wearable & IoMT Medical Devices Market Insight

The China wearable & IoMT medical devices market accounted for the largest market revenue share in Asia-Pacific in 2024, attributed to the country’s expanding middle class, rapid urbanization, and high rates of healthcare digitalization. China stands as one of the largest markets for connected medical devices, and wearable & IoMT solutions are becoming increasingly popular in hospitals, clinics, and homecare settings. The push towards smart healthcare, coupled with strong domestic manufacturers and government initiatives, are key factors propelling the market in China.

Wearable & IoMT Medical Devices Market Share

The wearable & IoMT medical devices industry is primarily led by well-established companies, including:

• Medtronic (Ireland)
• Apple Inc. (U.S.)
• Koninklijke Philips N.V (Netherlands)
• GE Healthcare (U.S.)
• Dexcom Inc. (U.S.)
• Fitbit Inc. (U.S.)
• Garmin Ltd. (U.S.)
• Omron Healthcare, Inc. (Japan)
• BioIntelliSense Inc. (U.S.)
• Samsung Electronics Co., Ltd. (South Korea)

Latest Developments in Global Wearable & IoMT Medical Devices Market

• In September 2025, Melbourne-based startup Nutromics announced the development of a revolutionary wearable diagnostic device known as a "lab-on-a-patch." This device is capable of continuously monitoring various biomarkers beyond glucose levels, utilizing DNA-based biosensors for real-time, on-body diagnostics. The platform technology has raised USD 60 million in funding, including USD 7.5 million in its latest round, with investment from major players like Dexcom. Nutromics aims for FDA approval for vancomycin monitoring by 2028 and plans to establish a high-tech manufacturing hub in Australia, potentially generating USD1.5 billion in annual export revenue and creating over 100 specialized jobs
• In February 2025, Lithuanian health tech firm Pulsetto secured EUR 2 million in funding to expand its wearable vagus nerve stimulation (tVNS) technology into the defense sector. The company, founded in 2021, offers wearable devices primarily for consumer wellness applications, such as stress reduction, sleep support, and general relaxation. The investment aims to support the development of advanced bioelectronic devices for various applications
• In April 2022, Ultrahuman, a metabolic fitness platform, acquired LazyCo, a wearables IoT company known for its AI-powered smart ring designed to predict and automate daily tasks. This acquisition, announced in June 2023, aligns with Ultrahuman's strategy to enhance its wearable device offerings and integrate advanced technology into its platform. The company has raised a total of $65 million in funding and has declared its IPO plans for 2026

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