Exploring the fast adoption of wearable technology in healthcare over the past five years, this analysis emphasizes how advances in sensor miniaturization and materials have led to the move from hospital-centric care to personalized, home-based alternatives. It promotes continuous monitoring and data-driven proactive health management by highlighting the various applications of wearable medical equipment. The study analyses 14 research based on device type, medical focus, objectives, ergonomics, data output, and validation to evaluate current problems, advances, and regulatory concerns. It highlights the significant potential of wearable medical devices to improve healthcare accessibility and cost, from fall detection to prosthetics. Also mentioned are the prospective financial benefits. Prospects for the future include enhanced user-centric design.