United Kingdom Wearable Medical Devices Market Insights Forecasts to 2033

• The U.K. Wearable Medical Devices Market Size was valued at USD 1.14 Billion in 2023.
• The Market is growing at a CAGR of 25.39% from 2023 to 2033
• The U.K. Wearable Medical Devices Market Size is expected to reach USD 10.95 Billion by 2033

The United Kingdom Wearable Medical Devices Market is anticipated to exceed USD 10.95 Billion by 2033, growing at a CAGR of 25.39% from 2023 to 2033. The growing frequency of chronic diseases, rising

Market Overview

Wearable medical devices are standalone devices that are usually worn over the body and have the ability to diagnose or track medical issues in addition to digital health data. These devices have features including medical feedback, data processing modules, noninvasive physiological sensors, and wireless data transmission capabilities. The general public is becoming more conscious of the importance of placing a high priority on health and well-being. Due to their adaptability and broad public convenience, wearable health technology, such as fitness bands and smartwatches, is growing in popularity. The wearable medical device market is dynamic and diverse, with a wide spectrum of enterprises contributing to its growth and development. The surge of creative solutions meant to transform patient care and empower people to take control of their health. The ongoing technological advancements encourage the development of several wearable medical solutions.

Report Coverage

This research report categorizes the market for the UK wearable medical devices market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United Kingdom wearable medical devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the UK wearable medical devices market.

Driving Factors

Combining portable medical devices with healthcare data can enable clinicians to provide accurate real-time diagnoses and treatment. The rising lifestyle-related disorders and concerns regarding the rising death rate surge the need for continuous and tailored monitoring of physiological parameters leads to drive the market demand. Wearable technology in cardiovascular care and state-of-the-art medical innovations such as smartwatches and other continuous monitoring devices are also responsible for propelling the market growth. Furthermore, the technological development and innovations in wearable medical devices for accurate results and affordability are propelling the market growth.  

Restraining Factors

The high maintenance cost due to the periodic replacement of chips, sensors, batteries, and other accessories in these devices hampers the adoption of medical devices restraining the UK wearable medical devices market.

Market Segmentation

The United Kingdom Wearable Medical Devices Market share is classified into product, site, grade type, application, and distribution channel.

• The diagnostic devices segment dominates the market with the largest market share in 2023.

The United Kingdom wearable medical devices market is segmented by product into diagnostic devices and therapeutic devices. Among these, the diagnostic devices segment dominates the market with the largest market share in 2023. Diagnostic wearable devices can be used for real-time tracking and recording of numerous neurological devices, enabling individualized treatment programs. The growing incidence of neurological diseases in the UK is responsible for driving the market demand.

• The strap, clip, bracelet segment is anticipated to witness the fastest CAGR growth during the forecast period.

The United Kingdom wearable medical devices market is segmented by site into handheld, headband, strap, clip, bracelet, shoe sensors, and others. Among these, the strap, clip, bracelet segment is anticipated to witness the fastest CAGR growth during the forecast period. Due to lightweight quality, accessibility, visibility, and monitoring capabilities, clips, straps, and bracelets are highly favored over other segments. Further, wrist-worn devices provide pleasurable experiences for tracking fitness by monitoring heart rate, skin temperature, and activity counts.

• The consumer grade segment dominated the UK wearable medical devices market in 2023.

Based on the grade type, the U.K. wearable medical devices market is divided into consumer grade and clinical. Among these, the consumer grade segment dominated the UK wearable medical devices market in 2023. The consumer-grade medical wearable devices are preferably used by the consumer due to their affordability and user-friendliness feature. The focus on monitoring personal health and fitness drives the market demand in the consumer-grade segment.

• The home healthcare segment dominates the UK wearable medical devices market during the forecast period.       

Based on the application, the U.K. wearable medical devices market is divided into sports & fitness, remote patient monitoring, and home healthcare. Among these, the home healthcare segment dominates the UK wearable medical devices market during the forecast period. Wearable medical devices are convenient and comfortable to wear for prolonged periods. It also enables patients to take greater control over their health, ultimately leading to improved treatment plan adherence.  

• The pharmacies segment dominated the market with the largest market share in 2023.

Based on the distribution channel, the U.K. wearable medical devices market is divided into pharmacies, online channels, and hypermarkets. Among these, the pharmacies segment dominated the market with the largest market share in 2023. Pharmacy are the hubs of health and wellness that offer expert advice. The ease of accessibility of medical wearable devices from pharmacy stores drives the market growth in the pharmacy segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the U.K. wearable medical devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Koninklijke Philips N.V.
• Covidien (Medtronic)
• Fitbit
• Omron Corp.
• Garmin
• Withings
• Everist Genomics
• Polar Electro
• Intelesens Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2023, the UK government launched the Innovative Devices Access Pathway (IDAP) pilot backed by £10 million funding. The pilot would give patients greater access to innovative technologies by supporting innovators and manufacturers with scientific advice and multi-partner mentoring.
• In August 2023, Firstkind Ltd, a UK-based company, developed the geko device, a wearable, neuromuscular electrostimulation technology worn outside the knee joint on the perineal nerve.
• In September 2021, Nemaura Medical, Inc., a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, announced that it has signed a global commercial contract with MySugarWatch DuoPack Limited (“MSW-DP”).

Market Segment

This study forecasts revenue at U.K., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United Kingdom Wearable Medical Devices Market based on the below-mentioned segments:

UK Wearable Medical Devices Market, By Product

• Diagnostic Devices
• Therapeutic Devices

UK Wearable Medical Devices Market, By Site

• Handheld
• Headband
• Strap, Clip, Bracelet
• Shoe Sensors
• Others

UK Wearable Medical Devices Market, By Grade Type

• Consumer Grade
• Clinical

UK Wearable Medical Devices Market, By Application

• Sports & Fitness
• Remote Patient Monitoring
• Home Healthcare

UK Wearable Medical Devices Market, By Distribution Channel

• Pharmacies
• Online Channels
• Hypermarkets