The “Medical Exoskeleton Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Medical Exoskeleton Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global medical exoskeleton market size was US$ 203.78 million in 2021. The global medical exoskeleton market size is forecast to reach US$ 5699.8 million by 2030, growing at a compound annual growth rate (CAGR) of 44.8% during the forecast period from 2022 to 2030.
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Exoskeletons are applications of robotics and biomechatronics that augment humans while performing a variety of tasks. In addition to exoskeletons, they can know as robotic suits, powered armor, wearable machines, power jackets, and exo-frames. A medical exoskeleton improves lost functionality and improves the lives of patients. Additionally, it aids in the treatment of musculoskeletal disorders. Physical therapists can use it to train patients with motor nerve and cognitive disabilities. Rehabilitation uses exoskeletons as well, including inpatient training and locomotion.
Factors Influencing Market Growth
Factors including the rising funding from public and private players for this technology, increasing demand for the product from various applications, rising need for innovative rehabilitation treatments, and rising need for wearable exoskeletons are driving the global market growth.
A high product cost and stringent regulatory approvals may slow down the growth of the overall market.
Globally, a growing number of people with physical disabilities and growing insurance coverage for medical exoskeletons are fueling the global market’s growth.
Impact Analysis of COVID-19
Supply chain disruptions have affected the medical exoskeleton market across the globe. A discontinuity in business operations directly impacts the revenue drift of the medical exoskeleton market. As a result of COVID-19, medical exoskeleton companies faced workforce issues, which led to a slowdown and delayed manufacturing processes due to new government rules and the implementation of lockdowns across the globe. Furthermore, several hospitals had stopped doing non-essential medical procedures and shifted their focus to the COVID-19 patients. Thus, these factors had negatively impacted the global medical exoskeleton market growth.
Regional Insights
In 2021, North America accounted for the largest share of the revenue. In this region, the growing geriatric population, the presence of strokes, and the increasing number of spinal cord injuries (SCI) are driving the evolution of the medical exoskeleton market.
The Asia Pacific is forecast to grow at a rapid pace during the forecast period. As a result of increased awareness and the beneficial application of wearable robotics in infrastructure and industrial environments, the industry is experiencing rapid growth. In addition, the manufacture of medical exoskeletons for the defense industry is likely to be a primary driver in the market. South Korea, Japan, and China are forecast to generate the most revenue.
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Leading Competitors
The leading prominent companies profiled in the global medical exoskeleton market are:
Bionik Laboratories
Bioventus
B-TEMIA Incorporated
Cyberdyne Incorporated
Ekso Bionics
Gogoa Mobility Robots
Lockheed Martin Corporation
Parker Hannifin Corp
Rewalk Robotics
Rex Bionics
Suit X
Wearable Robotics
Other Prominent Players
Scope of the Report
The medical exoskeleton market segmentation focuses on Component, Type, Application, End-Use, and Region.
Segmentation based on Component
Hardware
Sensor
Actuator
Control System
Power Source
Software
Segmentation based on Type
Powered
Passive
Segmentation based on Application
Spinal Cord Injury
Multiple Sclerosis
Cerebral Palsy
Stroke
Others
Segmentation based on End-Use
Rehabilitation Centers
Physiotherapy Centers
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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