Wearable Tremor Therapy Market Trends

Growth Drivers

• Growing Interest in Non-Pharmacological Approaches - The market for wearable tremor therapy will likely expand as more people become interested in non-pharmacological treatments for illnesses like essential tremors. For treating non-pharmacological invasions for essential tremors, wearable tremor therapy devices provide a collaborative interdisciplinary platform including engineering, biology, robotics, physiotherapy, and clinical testing. Older persons (those over 65) are more likely to have these tremors, with a 4% prevalence.
• Increasing Innovation of New Technologies - The wearable tremor therapy market is also growing as a result of the development of smart gadgets like pressure shoes, smart watches, and smart glasses, among others. These devices have unique capabilities for data collection, processing, storage, and transfer thanks to both sophisticated hardware and software technology. Wearable technology has been widely employed in many industries and has generated a huge amount of demand as a result of the quick advancements in Internet technology and the arrival of machine learning.  
• Increasing Consumer Preference – For health issues such as essential tremor treatments like propranolol are utilized. However, these can be proved ineffective and develop drug tolerance. Because more patients poorly respond to this medication, the consumer preference towards wearable tremor therapy rapidly increases. Therefore, this is estimated to accelerate the market expansion of wearable tremor therapy in the projection time period.
• Growing Research and Development Activities – The market players associated with wearable tremor therapy and the governments of various regions are supporting and encouraging research and development activities in the wearable tremor therapy domain. In fact, they are also offering investment for research and development activities across the globe. This is estimated to boost the expansion of the wearable tremor therapy market in the assessment time period.

Challenges

• Limited Reimbursement Offered – Reimbursement for wearable tremor therapy devices can vary depending on the insurance company and the patient’s individual plans. Some insurance companies may not cover these devices at all, or may only cover them for certain conditions. This is predicted to hamper the market expansion of wearable tremor therapy in the upcoming time period.
• Demand for More Clinical Data is Expected to Restrict the Market Expansion in the Future Times
• Limited Battery Live of Devices is Set to Pose Limitation on the Market Growth in the Forecast Period