Physical fitness is the prime priority of people these days as everyone wants to see himself as healthy. There are numbers of wearable devices available that help human to monitor their vital body signs through which one can get an average idea of their health. Advancements in the efficiency of healthcare systems have fueled the research and development of high-performance wearable devices. There is significant potential for portable healthcare systems to lower healthcare costs and provide continuous health monitoring of critical patients from remote locations. The most pressing need in this field is developing a safe, effective, and trustworthy medical device that can be used to reliably monitor vital signs from various human organs or the environment within or outside the body through flexible sensors. Still, the patient should be able to go about their normal day while sporting a wearable or implanted medical device. This article highlights the current scenario of wearable devices and sensors for healthcare applications. Specifically, it focuses on some widely used commercially available wearable devices for continuously gauging patient’s vital parameters and discusses the major factors influencing the surge in the demand for medical devices. Furthermore, this paper addresses the challenges and countermeasures of wearable devices in smart healthcare technology.