Global Medical Exoskeleton
Market Report
2024
Medical Exoskeleton market was valued at USD 0.3 billion in 2022 and will reach USD 5.5 billion by 2030, registering a CAGR of 44 % for the forecast period 2023-2030.
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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The global Medical Exoskeleton market was valued at USD 0.3 billion in 2022 and will reach USD 5.5 billion by 2030, registering a CAGR of 44 % for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Medical Exoskeleton Market Sales Revenue 2022 | $ 0.3 Billion |
Global Medical Exoskeleton Market Sales Revenue 2030 | $ 5.5 Billion |
Global Medical Exoskeleton Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 44% |
Market Split by Mobility |
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Market Split by Technology |
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Market Split by Extremity |
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Market Split by End-use |
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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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Medical Exoskeleton Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
An exoskeleton is a wearable device designed to augment the strength and mobility of the human body. It is typically worn outside the body and consists of a series of rigid frames or shells attached to the body using straps or other types of support. Medical exoskeleton works by detecting the user’s movements and providing additional support and power to the muscle. This helps individuals with mobility and impairment. The rising demand has led to the development of several startups that are expertizing in exoskeleton technology and providing solutions for rehabilitation. Moreover, exoskeletons can be utilized by health workers wearing heavy anti-radiation aprons.
Increasing Geriatric population
With the rising geriatric population, the number of people with disabilities is increasing. The elderly are more prone to stroke and severe musculoskeletal injuries resulting from falls. The significant growth in the geriatric population not only indicates the presence of more potential users for medical exoskeletons but also implies that fewer active people will look after the elderly and disabled in the coming years. As a result, the demand for effective rehabilitation approaches.
Rising demand for effective rehabilitation approaches
The need for efficient rehabilitation techniques, particularly those that employ cutting-edge and novel products and technology, is growing on a global scale. In all major regions, this is seen as encouraging news for the expansion of the medical exoskeleton market. The market for medical exoskeletons will also experience a significant increase as the number of persons with physical limitations rises. Moreover, the market for medical exoskeletons is expanding as a result of factors including aging populations worldwide and easier access to insurance coverage for medical exoskeletons. An increase in the frequency of traffic collisions, serious injuries, and strokes will also accelerate the market's growth rate.
Restraining Factors
Obtaining regulatory approval for exoskeleton medicinal applications
The manufacturer's technical design ability and experience may be important during product testing. Exoskeletons designed for medical applications must be thoroughly evaluated because a broken piece of medical equipment could be lethal. Regulatory bodies have established a stringent licensing process to make sure that a wearer's safety is not jeopardized by the high-power output of actuators utilized in such gadgets. On the other hand, the market for medical exoskeletons will have difficulties due to safety concerns. During the projected period the appearance of unfavorable conditions due to the COVID-19 epidemic and long-term power supply requirements will also operate as a restraint and further hinder the market's growth rate.
Impact of the COVID-19 Pandemic on Medical Exoskeleton the Market
The medical exoskeletons market has experienced a period of temporary recession as lockdown restrictions have been enforced as a necessary step to curb the spread of COVID-19 infections. One of the major impacts of lockdowns was observed in the disruption of the production process and supply chains across the globe. Along with this, the significant decrease in the medical procedures due to prioritizing of COVID-19 infection-associated patient load, there was a striking decrease in the product demand because of that. However, the medical exoskeletons market is in the recovery stage, with numerous COVID-19 vaccines being approved and administered worldwide, and activities have begun in various areas such as medical services thereby presenting a positive growth environment for the medical exoskeletons market.
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April 2021
Ottobock introduced the paexo shoulder jacket
At the Hannover Messe Digital Edition 2021 event, Ottobock introduced the Paexo Shoulder Jacket, Paexo Cool Sleeve, and Paexo Thumb Slim products. When doing demanding tasks like lifting heavy objects or working overhead, these devices significantly relieve the body. Moreover, These devices provide excellent relaxation to the body during strenuous tasks such as moving heavy packages or performing overhead labor.
March 2021
CYBERDYNE received medical device approval
CYBERDYNE received medical device approval from Thai Food and Medical Products Approval Authority (Thai FDA) for HAL Single Joint Type. The product is for patients with reduced mobility in the upper and lower limbs due to muscle weakness or paralysis
Top Companies Market Share in Medical Exoskeleton Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
North America accounts for the largest share
Based on the region Medical exoskeleton can be divided into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa where North America held the market globally owing to the growing prevalence of disabled individuals, rising expenditure on research activities, growing public & private support, increasing number of partnerships & collaborations amongst key participants, and availability of technologically advanced products. Moreover, the rapidly growing geriatric population, rising disposable income, availability of public & private investors, the widespread presence of key market players, and growing human augmentation in industry and military verticals is driving the growth.
On the other hand, Asia Pacific is anticipated to register the fastest growth rate during the forthcoming years owing to a growing patient pool requiring rehabilitation support. Developing & advancing healthcare infrastructure, and the availability of government support & funding are driving the development & growth of the exoskeleton market in Asia Pacific. Constant economic development in economies such as China, Japan, and India coupled with favorable public & private support is expected to bolster the development & growth.
The current report Scope analyzes Medical Exoskeleton 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 Medical Exoskeleton 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 Medical Exoskeleton Industry growth. Medical Exoskeleton market has been segmented with the help of its Mobility, Technology Extremity, and others. Medical Exoskeleton 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.
The mobile segment holds the largest share
Based on the mobility of medical exoskeletons can be segmented as Mobile, Fixed/Stationary. Where the mobile segment dominates the market and is anticipated to register the fastest growth rate during the coming years. This significant market share and major growth rate are attributed to the surge in demand for motor-equipped robots aiding human body mechanics and the rise in research and development activities. Moreover, the availability of favorable reimbursement policies promoting the adoption of exoskeleton technologies in emerging economies & developing nations is directly contributing to the development and growth of the segment.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Medical Exoskeleton Industry. Request a Free Sample PDF!
The powered technology segment holds the largest share
Based on the technology of medical exoskeletons can be segmented as Powered, Non-powered. Where powered technology dominates the market .owing for the rising implementation of powered exoskeleton solutions in several industries to enhance personal safety and boost productivity. Furthermore, the benefits associated with powered technology products are smoother lifting motion, reduced strain on workers' bodies, increased strength, force multiplier, and enhanced productivity.
However, the non-powered or passive technology segment is also anticipated to register the fastest growth rate during the forthcoming years owing to the growing number of innovative product launches.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Medical Exoskeleton market report 2024 Edition by contacting our team.
The lower body segment holds the largest share of market
Based on the Extremity of medical exoskeletons can be segmented as UpperBody, LowerBody, and FullBody.Where the Lower body segment dominates the market .owing to the alarming rise of lower body disabilities and growing adoption rates of exoskeleton products by paralyzed and geriatric populations for stability, mobility, and weight-bearing capabilities. Moreover, these lower-body solutions are widely used by the military and defense personnel for assisting soldiers or enhancing soldiers’ speed & coverage.
However, the upper body segment is anticipated to register the fastest growth rate during the forthcoming years owing to the benefits provided by the exoskeleton products for the upper extremities such as supporting disabled communities and rehabilitation aid in post-stroke, neurological, or musculoskeletal impairments
The healthcare segment holds the largest share of the market.
Based on the Enduse of the medical exoskeleton can be segmented as Healthcare, Military, and Industry. Where the healthcare segment dominates the market.Owingdue to the increasing frequency of spinal cord injuries (SCIs), the widespread use of these products & solutions in rehabilitation facilities, and the sharp increase in the number of patients receiving treatment. The demand for and adoption rate of exoskeleton goods in healthcare sector are also being driven by an increase in the number of regulatory approvals as well as a growing awareness of technologically advanced systems are driving the demand and adoption rate of exoskeleton products in the healthcare industry.
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 Medical Exoskeleton Market is witnessing significant growth in the near future.
In 2023, the Mobile segment accounted for noticeable share of global Medical Exoskeleton Market and is projected to experience significant growth in the near future.
The Powered segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Lockheed Martin Corporation , Ekso Bionics and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Mobility | Mobile, Fixed/Stationary |
Technology | Powered, Non-powered |
Extremity | UpperBody, LowerBody, FullBody |
End-use | Healthcare, Military, Industry |
List of Competitors | Lockheed Martin Corporation, RRB3D, Ekso Bionics, suitX, ReWalk Robotics Ltd, Hocoma, Rex Bionics PLC., Active Link, Panasonic Corporation, Cyber dyne Inc. |
This chapter will help you gain GLOBAL Market Analysis of Medical Exoskeleton. Further deep in this chapter, you will be able to review Global Medical Exoskeleton 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.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
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 Medical Exoskeleton Market Trends North America Medical Exoskeleton Technological Road Map North America Medical Exoskeleton Market Drivers North America Medical Exoskeleton Market Restraints North America Medical Exoskeleton Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
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
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
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.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Mobility Analysis 2019 -2031, will provide market size split by Mobility. 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 Mobility 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 Technology Analysis 2019 -2031
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Chapter 12 Market Split by Extremity Analysis 2019 -2031
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Chapter 13 Market Split by End-use Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Medical Exoskeleton market
Chapter 14 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 Mobile have a significant impact on Medical Exoskeleton market? |
What are the key factors affecting the Mobile and Fixed/Stationary of Medical Exoskeleton Market? |
What is the CAGR/Growth Rate of Powered during the forecast period? |
By type, which segment accounted for largest share of the global Medical Exoskeleton Market? |
Which region is expected to dominate the global Medical Exoskeleton Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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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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Service Level Customization |
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