PUBLISHER: MarketsandMarkets | PRODUCT CODE: 2031737
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 2031737
The wearables in pharma & biotech market is projected to reach USD 9.97 billion by 2031 from USD 3.98 billion in 2026, at a CAGR of 20.2%. The market is driven by rapid technological developments in biosensors, miniaturization, and digitization. Increasing global digital connectivity is another significant facilitator of the expanding wearable market. The International Telecommunication Union reported that over 5.4 billion people worldwide were using the internet in 2023. This widespread connectivity is enabling the seamless integration of data from wearable devices into cloud environments.
| Scope of the Report | |
|---|---|
| Years Considered for the Study | 2024-2031 |
| Base Year | 2025 |
| Forecast Period | 2025-2031 |
| Units Considered | Value (USD billion) |
| Segments | Product, Therapeutic Area, Application, End User |
| Regions covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Additionally, the All of Us Research Program has recruited more than 500,000 participants, some of whom are contributing data from wearables, including activity levels, heart rate, and sleep patterns. This reflects the growing role of wearable technology in large-scale biomedical research and precision medicine. This growth is further supported by the increasing adoption of remote patient monitoring (RPM) and digital care solutions. In the US, the Centers for Medicare & Medicaid Services reported a substantial increase in reimbursement claims for remote physiological monitoring services following the expansion of the policy in 2022. This indicates widespread adoption of wearable-derived care among healthcare providers. In addition, developments in the accuracy of sensors and multi-parameter monitoring are allowing wearables to measure clinically significant endpoints beyond basic vital signs. This is expanding the scope of wearables in drug safety and therapeutic studies.

"By product, continuous glucose monitors (CGMs) segment to account for largest market share"
The product segment is divided into smartwatches, fitness bands, smart rings, continuous glucose monitors (CGMs), patches, wearable injectors, and others. The CGMs segment has a large market share due to the high level of support from clinical guidelines, increasing scope of eligible patients, and the ability of the devices to be used with the most advanced diabetic management systems. The American Diabetes Association recommends the use of CGMs for a broad population of diabetic patients, as per the 2024 Standards of Care, thereby increasing the scope of the market. Furthermore, the availability of reimbursement schemes for hundreds of thousands of patients through the National Health Service has also helped the market expand in the region. In addition, approvals by the Food and Drug Administration for interoperable CGMs used in conjunction with insulin delivery systems have also helped the market expand in the region. The devices also provide up to 288 glucose readings in a day, making them highly valuable in the market .
"By end user, pharmaceutical and biotech companies accounted for largest market share in 2025"
Pharmaceutical and biotech companies dominated the market for wearables in the pharma & biotech market in terms of market share in 2025. This is mainly attributed to the complexity of clinical trials, where pharmaceutical and biotech companies require wearable technologies for data collection. According to a study by the Tufts Center for the Study of Drug Development, clinical trial protocols currently involve more than 20 endpoints on average, thus increasing the requirement for data collection. Wearable technologies are increasingly being used in this context. Furthermore, large-scale research initiatives, such as the UK Biobank, have successfully used wearable technologies for data collection from over 100,000 individuals, thus highlighting the potential of wearable technologies in pharmaceutical research. Considering this, pharmaceutical and biotech companies are likely to remain a dominant end user in this market .
"Asia Pacific to witness highest growth rate during forecast period"
The Asia Pacific (APAC) region is experiencing the highest growth rate in the wearables in pharma & biotech market. This growth can be attributed to several factors, including improvements in digital health infrastructure, a rise in clinical research activities, and a significant number of underserved patients. According to the WHO, the combined Western Pacific and Southeast Asia regions contribute a large share to the world's disease burden. It has been mentioned by the International Telecommunication Union that the penetration of the Internet in the APAC region has surpassed 66% to 70% in recent years. Additionally, it has been observed that countries like China and India are emerging as hubs for clinical trials, with thousands of trials already conducted in these regions. Technology is being adopted to enhance the efficiency of these trials. In September 2024, Biobeat announced its expansion into Argentina and Chile through a partnership with Infinity Pharma.
Abbott (US), Dexcom, Inc. (US), and Masimo (US) are some of the key players in the wearables in pharma & biotech market.
Research Coverage
This research report categorizes the wearables in pharma & biotech market by Product (Smartwatches, Fitness Bands, Smart Rings, Continuous Glucose Monitors (CGM), Patches, Wearable Injectors, Others), Therapeutic Area (cardiovascular (atherosclerotic cardiovascular disease (ASCVD) / secondary prevention, heart failure (HFREF and HFPEF), hypertension, atrial fibrillation (AF) / stroke prevention, pulmonary hypertension, structural heart disease / interventional cardiology), oncology (solid tumors, hematologic malignancies), diabetes, mental health & behavioral health, respiratory disorders, lifestyle & wellness improvement, neurology, musculoskeletal disorders / pain management, women's health & reproductive health, other diseases), Application (drug discovery, clinical trials (phase ii, phase iii, phase iv), medication adherence & behavioral support, chronic disease monitoring, personalized & preventive digital therapeutics), end user (pharmaceutical & biotech companies, healthcare providers & clinicians, other end users), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the wearables in pharma & biotech market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements, new product & service launches, mergers & acquisitions, and recent developments associated with the wearables in pharma & biotech market. Competitive analysis of upcoming startups in the market ecosystem is covered in this report.
Reasons to Buy this Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the wearables in pharma & biotech market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.