The global market for body-worn medical devices is projected to grow from $3.98 billion in 2026 to nearly $10 billion in 2031, driven by advances in personalised healthcare and remote monitoring solutions, despite ongoing regulatory and cost challenges.
MarketsandMarkets says the global wearables in pharma and biotech market is set to nearly triple over the next five years, rising from $3.98 billion in 2026 to $9.97 billion by 2031. The report puts the compound annual growth rate at 20.2% and defines the sector as body-worn medical devices used to deliver treatment or support continuous monitoring, including continuous glucose monitors, wearable drug-delivery systems, smart patches, bio-feedback monitors and neuro-stimulators.
The strongest demand is being driven by the spread of chronic illnesses such as diabetes and heart disease, along with wider acceptance of remote monitoring and home-based care. According to MarketsandMarkets, the most active buyers include both consumers managing long-term conditions and health systems looking for clinical-grade tools that can connect with electronic records. That split is shaping the market: retail buyers tend to value comfort, simplicity and app integration, while hospitals and physician groups focus on accuracy, security and reimbursement.
The report also points to a broader shift in the industry, from devices that merely record activity to systems that can support active treatment. Examples include closed-loop glucose management, where continuous monitors work with automated insulin delivery, as well as wearable patches and sensors that use artificial intelligence to personalise care. MarketsandMarkets says these technologies are being strengthened by miniaturisation, longer battery life, cloud connectivity and growing interest in Internet of Medical Things platforms that can feed data directly into care pathways.
At the same time, the market still faces clear obstacles. High device costs, uneven reimbursement and the challenge of keeping patients engaged all remain barriers to wider adoption. The report also flags regulatory scrutiny, data security concerns and manufacturing complexity as factors that can slow commercial rollout. Even so, the US market alone is expected to expand sharply, from $1.60 billion in 2026 to $3.97 billion in 2031, while a separate industry forecast from Grand View Research suggests the wider wearable medical device market could grow even faster over the longer term.
Disclaimer: This content is for informational purposes only and is not intended to be a substitute for professional medical judgment, advice, diagnosis, or treatment.
