Singapore Wearable Medical Devices Market

Singapore Wearable Medical Devices Market Insights Forecasts to 2035

• The Singapore Wearable Medical Devices Market Size Was Estimated at USD 1003.2 Million in 2024
• The Market Size is Expected to Grow at a CAGR of Around 31.86% from 2025 to 2035
• The Singapore Wearable Medical Devices Market Size is Expected to Reach USD 21015.4 Million by 2035

According to a research report published by Decision Advisors & Consulting, the Singapore Wearable Medical Devices Market size is anticipated to reach USD 21015.4 million by 2035, growing at a CAGR of 31.86% from 2025 to 2035. The market for wearable medical devices in Singapore is driven by a rising incidence of chronic and lifestyle-related diseases, including diabetes and hypertension. To counteract this trend, the healthcare sector is aggressively investigating new technologies, concentrating on strategies like wearable technology that can be worn all day for continuous and remote patient monitoring.

Market Overview

The marketplace for wearable medical devices includes sales of biosensors, wearable fitness trackers, wearable ECG monitors, and other wearable devices used to track medical issues. In this market, prices are factory gate values, which are the prices at which factories or producers sell their products, either to individual consumers or to other organizations.

Singapore ranked 16th out of 217 countries in the world for medical instrument exports in 2023, with $2.47 billion. With $2.26 billion in medical instrument imports in 2023, Singapore ranked 17th out of 226 countries in the world for medical instrument imports. Singaporeans' strong demand for better healthcare creates an excellent market for foreign medical device companies, which supply more than 85% of the country’s devices. Leading importers include the US, Germany and Japan. At Present, more than 60% medical devices are imported into Singapore.

Singapore-based health tech startup Respiree has received clearance from the Health Sciences Authority (HSA) to extend its RS001 cardio-respiratory wearable to paediatric populations. This clearance also enables the extension of Respiree's software platform, introducing enterprise-grade pathway management services and EHR interoperability, which further enhances its innovative healthcare solutions. Leading manufacturers of wearable medical devices are dedicated to creating cutting-edge products, such as in-ear wearables, to provide customers with dependable services. Compact electronic devices called in-ear wearables are worn in the ear to track several health variables at once and provide the user with real-time feedback.

Report Coverage

This research report categorizes the market for Singapore wearable medical devices market based on various segments and regions, and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Singapore wearable medical devices market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Singapore wearable medical devices market.

Driving Factors

The wearable medical devices market in Singapore is driven by the expanding market due to a number of factors, including the growing number of senior people, the rising frequency of chronic illnesses, and the growing understanding of the importance of fitness. However, unresolved regulatory concerns and ongoing product recalls are likely to restrict market growth to some extent over the projected timeframe. There are now wristbands that connect to smartphones and display parameters such as steps taken and calories burned in real time. Due to technological improvements, the wearable medical device industry is growing. Additionally, wearable medical devices are being promoted by governments all over the world. These programs are contributing to the improvement of the market's growth environment.

Restraining Factors

The Singaporean wearable medical devices market is restrained by the device interoperability is a significant challenge; the absence of standardized communication protocols makes it challenging to communicate data seamlessly between different devices, applications, and healthcare systems, resulting in patient data that is fragmented. Overcoming data privacy skepticism among consumers. Restrained mainly related to cost, data integrity, and regulatory complexity. Advanced wearable medical devices, especially those requiring clinical-grade accuracy. Singapore, with its stringent data privacy laws, faces significant hurdles regarding the security and handling of sensitive health information collected by these devices.   

Market Segmentation

The Singapore wearable medical devices market share is classified into type and application.

• The diagnostic devices segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.  

Based on type, the Singapore wearable medical devices market is segmented into diagnostic devices, therapeutic devices. Among these, the diagnostic devices segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The segmental growth is driven by the consumer' increasing desire to take control of their health is having a big impact on the uptake of wrist-worn devices in medicine. The use of wrist wearables, such as fitness trackers, smartwatches, medical monitors, and other comparable devices, in the healthcare sector is greatly influenced by advancements in wearable technology.

• The sports and fitness segment accounted for the largest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. 

The Singapore wearable medical devices market is segmented by application into remote patient monitoring, home healthcare and sports and fitness. Among these, the sports and fitness segment accounted for the largest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. The segmental growth is driven by the as a result of athletes and fitness enthusiasts. The market will grow as a result of younger consumers paying more for these products. The market will grow as more people realise the benefits of these devices. The use of wrist wearables in the healthcare sector, such as fitness trackers, smartwatches, medical monitors, and other such devices, is largely due to the development of wearable technology.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Singapore wearable medical devices market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Respiree
• Aevice Health
• SynPhNe
• Epic Medical
• EloCare
• Aerobe
• QT Vascular
• Biosensors International
• Optimal Medical Products Pte Ltd
• Alcare Pharmaceuticals
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In March 2025, Singaporean technology developer SynPhNe launched its Synergistic Physio-Neuro Platform (SynPhNe), a wearable device designed to restore cognitive and physical function in those with disorders or disabilities.

Market Segment

This study forecasts revenue at the Singapore, regional, and country levels from 2020 to 2035. Decision Advisors has segmented the Singapore Wearable Medical Devices Market based on the below-mentioned segments:

Singapore Wearable Medical Devices Market, By Type

• Therapeutic Devices
• Diagnostic Devices

Singapore Wearable Medical Devices Market, By Application

• Remote Patient Monitoring
• Home Healthcare
• Sports and Fitness

FAQ’s

Q: What is the Singapore wearable medical devices market size?

A: The Singapore Wearable Medical Devices Market size is expected to grow from USD 1003.2 million in 2024 to USD 21015.4 million by 2035, growing at a CAGR of 31.86% during the forecast period 2025-2035

Q: What are the key growth drivers of the market?

A: Market growth is driven by the growing market as a result of several causes, such as an increase in the number of older citizens, an increase in the prevalence of chronic conditions, and an increasing awareness of the value of fitness. However, during the anticipated period, factors including ongoing product recalls and unresolved regulatory issues are likely to limit market expansion to some degree.

Q: What factors restrain the Singapore wearable medical devices market?

A: Constraints include that device interoperability is a major problem; the lack of established communication protocols makes it difficult to transfer data between various apps, devices, and healthcare systems, leading to fragmented patient data. overcoming customer concerns around data privacy. restricted mostly due to expense, data security, and regulatory complexity.

Q: How is the market segmented by type?

A: The market is segmented into diagnostic devices, therapeutic devices.

Q: Who are the key players in the Singapore wearable medical devices market?

A: Key companies include Respiree, Aevice Health, SynPhNe, Epic Medical, EloCare, Aerobe, QT Vascular, Biosensors International, Optimal Medical Products Pte Ltd, and Alcare Pharmaceuticals.

Q: Who are the target audiences for this market report?

A: The report targets market players, investors, end-users, government authorities, consulting and research firms, venture capitalists, and value-added resellers.