Published by Persistence MarketResearch
Posted on September 27, 2021
5 min readLast updated: February 2, 2026
The North America medical wellness devices market is set to reach $29.5 Bn by 2031, driven by increased healthcare spending and consumer awareness.
The North America Medical Wellness Devices Market is bound to reach US$ 29.5 Bn at a CAGR of 7.3% between 2021-2031. The modern-day situation says that the healthcare sector is witnessing an optimization and reposition of the business models to obtain enhanced patient outcomes. With real-time analytics known to improve patient care and the fact that consumers are shifting towards the preventive model of care, the healthcare vertical is likely to witness greater strides in the forecast period.
Medical wellness devices such as thermometers, blood pressure monitors, oximeters, diabetes monitors, sleep trackers, and smart watches are important devices that are very helpful in monitoring the health condition of patients. Devices such as braces, orthotics, and those for mobility care are helpful for serious injuries or dysfunction / disability of any body part.
With consumer awareness regarding these devices increasing, the market is expected to witness high growth. As the number of people with heart diseases, blood pressure, injuries, and accidents is increasing year on year at 10% growth rate, the need for medical wellness devices is rising faster than before.
According to a new report published by Persistence Market Research, the North America medical wellness devices market was valued at US$ 29.5 Bn in 2020, and is predicted to expand at a CAGR of more than 7% over the forecast period (2021–2031).
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Key Takeaways from Market Study
“Demand for braces and supports rising due to increase in geriatric population across the world,” says an analyst of Persistence Market Research.
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Healthcare Spending Increasing on Medical Wellness Devices
Healthcare spending has increased at a high rate in recent years. North America healthcare spending increased at a CAGR of 6.9% between 2003 and 2013. Growth of healthcare spending significantly outpaced the growth rate of the population during this period, which increased at a CAGR of 1.22% during the same period. Consequently, per capita healthcare spending increased from US$ 597 in 2003 to US$ 1,032 in 2013, expanding at a CAGR of 5.62%. As such, demand for medical wellness devices is also rising parallelly in the region.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the medical wellness devices market in its latest study, presenting historical demand assessment of 2016-2020and projections for 2021-2031. The research study is based on product (blood pressure monitors, diabetic monitoring devices, thermometers, pulse oximeters, sleep trackers, smart watches, massagers and pain relief, mobility care, braces and supports, orthotic, and light therapy) and distribution channel (institutional sales and retail sales), across North America.
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The post The Next 10 Years To Be An Ebullient Period For North America Medical Wellness Devices Market (Reaching US$ 29.5 Bn) appeared first on Lake Shore Gazette.
The article discusses the growth of the North America medical wellness devices market, projected to reach $29.5 Bn by 2031.
The market is growing due to increased healthcare spending, consumer awareness, and a shift towards preventive care.
Devices include thermometers, blood pressure monitors, oximeters, diabetes monitors, sleep trackers, and smart watches.
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