Wearables in Pharma & Biotech Market

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% during the forecast period. The market is primarily fueled by the rise of chronic conditions such as cardiovascular diseases, diabetes mellitus, and chronic respiratory diseases, which account for more than 70% of all deaths globally, based on the World Health Organization. Furthermore, the rising use of digital technology, with more than 6.8 billion smartphone users globally, based on the International Telecommunication Union, also contributes to the smooth integration of wearable technology into the healthcare sector. On the other hand, the increased adoption of wearable technologies in decentralized trials, as advocated by the US FDA and EMA, is accelerating the generation of real-world evidence, improving patient compliance, and reducing costs. Furthermore, the increased global expenditure on healthcare, which exceeds USD 9 trillion, is driving the increased adoption of wearable technologies in the pharma and biotechnology industries.

The major players operating in the wearables in pharma & biotech market are BD (US), Abbott (US), Masimo (US), Apple Inc. (US), DexCom, Inc. (US), Medtronic (Ireland), iRhythm Technologies, Inc. (US), BioIntelliSense, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Koninklijke Philips N.V. (Netherlands), GE HealthCare (US), BioBeat Technologies Ltd. (Israel), Empatica Inc. (US), VitalConnect, Inc. (US), Ametris LLC (US), AliveCor, Inc. (US), Boston Scientific Corporation (US), Withings S.A. (France), VivaLNK, Inc. (US), and MediBioSense Ltd. (UK).

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Abbott (US)

Abbott is one of the major players in the wearables in pharma and biotech industry. Its offerings include continuous health monitoring wearables, including Abbott's FreeStyle Libre CGM Systems, which assist patients, healthcare providers, and researchers in the real-time management of blood glucose level monitoring. The target audience of Abbott’s wearable devices is huge and includes patients of chronic health conditions like diabetes mellitus, healthcare organizations, and biopharmaceutical companies that make use of the data generated by wearable devices in the clinical trial process. Abbott's wearable devices strategy is to enhance the biosensors of the wearable devices, make them affordable and easily accessible to patients, and develop the digital platform of the wearable devices. In addition, Abbott is actively developing wearable devices aimed at supporting decentralized clinical trials and advancing personalized medicine. The company is aligning its efforts with the regulatory standards set by the United States Food and Drug Administration, as well as collaborating with healthcare and research organizations to integrate these wearable devices into therapeutic processes. In June 2024, Abbott received US FDA clearance for Libre Rio, its first over-the-counter continuous glucose monitoring system for adults with Type 2 diabetes who do not use insulin. The wearable biosensor enables continuous glucose tracking without prescription, expanding access to metabolic monitoring and supporting preventive health and decentralized monitoring applications. Also in April 2025, Abbott advanced its collaboration with Medtronic through an FDA submission for an interoperable insulin pump designed to integrate with Abbott’s FreeStyle Libre CGM technology. The interoperable system aims to enable automated insulin delivery by combining real-time glucose sensing with pump-based dosing algorithms to improve diabetes therapy management.

Dexcom Inc. (US)

Dexcom Inc. is a company that operates in the specialized space of the wearables in pharma & biotech industry by providing high-end continuous glucose monitoring technology that offers real-time, high-resolution glucose data to patients suffering from diabetes mellitus and other metabolic disorders. Unlike other diversified companies in the industry, Dexcom’s competitive advantage is its focus on data, as it offers its CGM platforms as digital biomarkers in clinical research and drug development. The company’s target audience is not limited to patients and healthcare providers but also includes biopharmaceutical companies that utilize continuous glucose monitoring data to evaluate treatment efficacy, patient compliance, and metabolic responses in clinical trials. In November 2025, Dexcom announced the commercial launch of the G7 15-Day CGM system in the US. The extended-wear wearable biosensor provides real-time glucose monitoring for over 15 days and integrates with digital health platforms, enabling continuous metabolic tracking and enhanced patient monitoring in diabetes management programs.

Masimo (US)

Masimo Corporation is another major contributor in the wearables in pharma & biotech industry segment due to its differentiated focus in providing biosensing and RPM solutions. Masimo is a leader in pulse oximetry and signal extraction technology, which enables continuous patient monitoring of vital signs such as oxygen saturation, respiration rate, and hemodynamic parameters, which are critical in managing patients suffering from chronic respiratory diseases as well as in the post-acute phase of patient recovery. Masimo’s wearable devices and tetherless monitoring solutions find application in hospital as well as home care settings. They are also used in clinical research and biotech environments . In August 2024, Masimo received FDA 510(k) clearance enabling connectivity between the Masimo W1 Medical Watch and the Masimo SafetyNet telemonitoring platform. The integration allows continuous wrist-based measurements of oxygen saturation and pulse rate to be securely transmitted through mobile applications and clinician portals, facilitating remote patient monitoring, digital health data sharing, and improved clinical oversight across hospital and home care environments.

Market Ranking

Major organizations, including prominent medical device and healthcare technology companies like Abbott Laboratories, Medtronic, Koninklijke Philips N.V., GE HealthCare, F. Hoffmann-La Roche Ltd, and Dexcom, Inc., are driving the adoption of wearables in the pharma & biotech industry by offering a wide range of solutions, including continuous monitoring devices, biosensors, RPH solutions, and digital health ecosystems, which can be utilized for applications ranging from clinical trials to the management of chronic diseases and real-world evidence generation. By leveraging the robust research and development capabilities, global presence, and regulatory expertise of these organizations, the process of data generation and analytics can be effectively supported. This makes them an essential component of the healthcare industry, particularly in fostering a data-driven and decentralized approach to healthcare. Companies such as Empatica Inc., BioIntelliSense, Inc., iRhythm Technologies, Inc., Biobeat, Sibel Health, and Onera Technologies B.V. are also coming up as new industry players in the market, providing services in applications such as neurological monitoring, continuous vital signs monitoring, and artificial intelligence-based RPH solutions, thereby increasing the scope of innovation in the industry.

Related Reports:

Wearables in Pharma & Biotech Market by Product (Smartwatches, CGMs, Bands, Rings, Patches, Injectors), Therapy (Diabetes, Cardio, Onco, Mental Health), Application (Drug Discovery, Clinical Trials, Medication Adherence), End User - Global Forecasts to 2031

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