Hemodynamic parameters are frequently used in patients with cardiovascular disease to assess cardiac function, monitor disease progression, propose interventions, and determine prognosis. However, they require extensive resources, including specialized equipment and trained personnel, to measure with accuracy and precision. Wearable devices such as wristwatches have been shown to assess heart function, such as heart rate and detection of irregular heart rhythms. These wearable devices have also evolved to measure hemodynamic variables in a noninvasive, dynamic, and rapid manner. However, there is limited research on the accuracy of these wearables for hemodynamic function. This review assesses wearable devices and their utility compared with a clinical reference standard for hemodynamic assessment and highlights the strengths and weaknesses of such devices. Limited studies have found that wearable devices can demonstrate strong correlations when assessing cardiac output, stroke volume, systolic blood pressure and timing intervals, and pre-ejection period. Reproducibility studies in similar clinical conditions are needed, and many of the wearable devices have not received FDA/Health Canada approval, restricting their clinical use. Our review summarizes the current research landscape of wearable devices and hemodynamic assessment and proposes a framework for future research applications.