Wearable Medical Devices: Growing Demand in Healthcare (Riyadh Valley Company)

Summary

• The global wearable medical devices market was worth about $33.6 billion in 2024 and is expected to reach $149.1 billion by 2033.p.7
• The market is projected to grow at a compound annual growth rate of 17.86% over the period 2025 to 2033.p.7
• The United States alone holds 87.6% of North America's market share.p.7
• The GCC wearable medical devices market was worth about $856.8 million and is expected to exceed $2 billion by 2033, at a CAGR of 9.40%.p.9
• Saudi Arabia holds 32.5% of the GCC market share.p.9
• Digital health users in Saudi Arabia are expected to reach 16.2 million by 2029.p.12
• About 50.2% of respondents to a Saudi survey reported using medical apps or software, while 46% reported using wearable devices.p.11

Key insights

1. The global wearable medical devices market was valued at about $33.6 billion in 2024.p.7
2. The market is forecast to reach $149.1 billion by 2033 at a CAGR of 17.86%.p.7
3. The GCC market is expected to grow at a CAGR of 9.40% over 2025 to 2033.p.9
4. Only 4.5% of Saudi adults used remote medical consultation services in 2024.p.12
5. Home care services in Saudi Arabia served more than 58,000 active cases during 2024.p.12
6. According to 2024 statistics, 18.95% of adults in Saudi Arabia have at least one chronic health condition.p.12
7. In November 2022 the Saudi Food and Drug Authority issued guidance on the use of AI and machine learning in medical devices.p.13