Pharma and biotech wearables market to reach $9.97b by 2031

Growth is being driven by the healthcare industry’s adoption of the technology.

The wearables in the pharmaceutical and biotechnology market are projected to reach US$9.97b by 2031, with a compound annual growth rate of 20.2%, according to a MarketsandMarkets report.

The report said growth is being driven by the healthcare industry’s adoption of the technology to deliver better patient outcomes and successful clinical trials.

The rise of decentralised and hybrid trials, which have been endorsed by the United States’ Food and Drug Administration, is also contributing to market growth.

The diabetes segment is anticipated to show the highest growth rate due to its prevalence and the need for constant monitoring.

Moreover, the clinical trials segment accounted for the largest share of the market in 2025 due to the increased need for efficient, patient-centric, and high-data-content study designs.