Global Bionic Exoskeletons
Market Report
2024
The Worldwide Bionic Exoskeletons Market size will grow at a compound annual growth rate (CAGR) of 8.50% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Worldwide Bionic Exoskeletons Market size will grow at a compound annual growth rate (CAGR) of 8.50% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Bionic Exoskeletons Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.5% |
Market Split by Product Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Bionic Exoskeletons Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Medical exoskeletons are wearable electromechanical devices designed as an external framework worn in the body to aid patients in recovering from injuries and improving biological capacities, such as orthotic devices for gait rehabilitation or locomotion support. As a result, this frame provides greater flexibility, strength, and endurance to the limbs. Medical exoskeletons provide power to persons who are disabled, wounded, or susceptible due to a range of medical diseases such as spinal cord injury (SCI), neuropathy, catastrophic trauma such as stroke, and cerebral palsy. These medical exoskeletons are often utilized under the supervision of medical specialists in controlled environments such as hospitals and rehab centers.
(Source:www.parkinson.org/understanding-parkinsons/statistics)
As the senior population expands, so will the potential for bionic device manufacturers. Amputations are frequently caused by diseases connected with aging, such as osteoarthritis, arthritis, and diabetes. Increased traffic accidents are also expected to promote the expansion of the worldwide medical bionic implants and exoskeletons market.
(Source:www.nist.gov/system/files/documents/2017/04/28/239_limb_prosthetics_services_devices.pdf)
The rate of bionics expansion is also increasing in nations such as India, China, Japan, and several European countries.
Many standards that are directly relevant to the exoskeleton sector are desperately needed. The FDA acknowledges ISO standards that apply to relevant enterprises, and only items that have gained regulatory approvals are authorized to be offered on the open market. Although powered lower limb exoskeletons have evolved tremendously, users continue to have difficulty crossing steep or slippery terrain. Because the prototypes cannot currently handle twisting motions, users turning while carrying goods may tire quickly, causing undesirable occurrences such as skin and tissue damage and bone fractures. As a result, regulatory organizations have devised a stringent licensing process for such devices to ensure that the high-power output of actuators does not jeopardize a wearer's safety.
The COVID-19 outbreak is expected to influence the global medical exoskeleton market's growth negatively. The COVID-19 epidemic has put a strain on healthcare systems throughout the world. A large number of clinics and hospitals throughout the world were reconfigured to boost hospital capacity for COVID-19 patients. The reduction in the incidence of road traffic accidents and fall injuries caused by the COVID-19 epidemic is expected to reduce demand for medical exoskeleton devices and negatively influence market growth. Furthermore, the COVID-19 epidemic has reduced the income of industry participants who produce medical exoskeleton devices, limiting market expansion. Furthermore, surgeons are more susceptible to receiving and spreading the coronavirus. As a result, several surgical operations were canceled throughout the world. As a result, these constraints are expected to stifle market growth throughout the epidemic.
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The market for Bionic Exoskeletons is a highly dynamic and diversified competitive environment. It includes various suppliers, ranging from large multinational enterprises to smaller specialized organizations. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with significant market developments including new Material portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. Because of automation and technological advancement, businesses compete fiercely to deliver innovative products.
(Source:www.cyberdyne.jp/english/company/PressReleases_detail.html?id=10679)
Top Companies Market Share in Bionic Exoskeletons Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2023 and accounted for a share of more than 39% of the Worldwide revenue due to several variables. The North American medical exoskeleton market will likely expand during the forecast period as the number of people suffering from neurological illnesses such as multiple sclerosis, Parkinson's disease, orthopedic diseases, and spinal cord injuries rises. According to the National Multiple Sclerosis Society, roughly 2.8 million people worldwide will be diagnosed with multiple sclerosis (MS) in September 2020. According to the same estimate, approximately 1 million will reside in the United States by 2020. The rise in the number of product launches and approvals for medical exoskeletons, as well as the rise in market participants adopting tactics such as cooperation, acquisition, and partnership, drives market expansion.
Due to economic development and cheap operational costs, the Asia-Pacific medical exoskeleton market is predicted to rise throughout the forecast period. The increased frequency of neurological and orthopedic illnesses, as well as the growing elderly population, are the primary driving factors for market expansion in this area. Furthermore, the rising occurrence of acquired brain and spinal injuries is fuelling demand for medical exoskeleton devices and driving the medical exoskeleton market projection period. Furthermore, Asia-Pacific's growing elderly population is one of the driving factors driving market development. The 2020 census shows around 264 million (18.70%) Chinese individuals aged 60 and over.
The current report Scope analyzes Bionic Exoskeletons Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Bionic Exoskeletons Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Bionic Exoskeletons Industry growth. Bionic Exoskeletons market has been segmented with the help of its Product Type, Application , and others. Bionic Exoskeletons market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, the powered exoskeletons category dominated Because of the increased number of product launches and product approvals for powered medical exoskeleton devices. Significant expenditures in R&D activities are a key contributor to sector revenue growth. Furthermore, fast developments in battery technology and investments targeted at integrating human knowledge, instinct, and judgment with machine power, endurance, and accuracy significantly drive industry revenue growth.
A powered exoskeleton suit for military usage that can carry ammunition was demonstrated after an earlier type of passive exoskeleton suit began service with PLA border defense forces for operations that included supply delivery, patrol, and sentry duty.
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According to Cognitive Market Research, the medical segment accounted for a disproportionately big revenue share. Rising demand for preventative devices to reduce worker injury and tiredness is a primary element driving this segment's growth. Exoskeletons are utilized in the healthcare sector to aid with duties such as lifting patients into and out of beds, transporting patients from one location to another, and carrying heavy medical equipment. Exoskeletons can also help to avoid ailments, including back discomfort, shoulder strain, and other musculoskeletal problems. Significant expenditures in establishing world-class technology and device distribution significantly drive revenue growth in this area.
Other significant factors contributing to market revenue growth include growing technical breakthroughs, greater acceptance of human augmentation in the industrial and military sectors, and a rising need for robotic rehabilitation.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Bionic Exoskeletons market report 2024 Edition by contacting our team.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Bionic Exoskeletons Market is witnessing significant growth in the near future.
In 2023, the Active Exoskeletons segment accounted for noticeable share of global Bionic Exoskeletons Market and is projected to experience significant growth in the near future.
The Medical segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Ekso Bionics , DJO Worldwide Inc. and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Product Type | Active Exoskeletons, Passive Exoskeletons |
Application | Medical, Military |
List of Competitors | Ekso Bionics, Ottobock Inc, DJO Worldwide Inc., Ossur Corporate, Rex Bionics Ltd., Alter G, ReWalk Robotics, Axosuits, EduExo, Festo, Lockheed Martin, BAE Systems, Raytheon, General Dynamics, Honeywell, Bionic Power |
This chapter will help you gain GLOBAL Market Analysis of Bionic Exoskeletons. Further deep in this chapter, you will be able to review Global Bionic Exoskeletons Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Bionic Exoskeletons Market Trends North America Bionic Exoskeletons Technological Road Map North America Bionic Exoskeletons Market Drivers North America Bionic Exoskeletons Market Restraints North America Bionic Exoskeletons Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Bionic Exoskeletons market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Active Exoskeletons have a significant impact on Bionic Exoskeletons market? |
What are the key factors affecting the Active Exoskeletons and Passive Exoskeletons of Bionic Exoskeletons Market? |
What is the CAGR/Growth Rate of Medical during the forecast period? |
By type, which segment accounted for largest share of the global Bionic Exoskeletons Market? |
Which region is expected to dominate the global Bionic Exoskeletons Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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