The Medical Exoskeletons Market was valued at USD 0.2 Billion in 2022,registering a CAGR of 35.65% during the forecast period of 2022 to 2030.
Medical Exoskeletons Market Overview:
The global medical exoskeleton market is experiencing major growth and will grow substantially in the coming years. Medical exoskeletons are wearable electromechanical devices that have been developed as external frames worn on the body to help patients recover from injuries and enhance biological capabilities, such as orthotics for gait rehabilitation or movement assistance. Thus, this frame provides additional movement, strength and endurance to the limb.
Medical Exoskeletons market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Medical Exoskeletons market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Medical Exoskeletons market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Significant Medical Exoskeletons Market Dynamics and Growth Factors:
Key Influencing Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Rising number of physically disabled patients worldwide and increasing insurance coverage for medical exoskeletons. Furthermore, advancements and increasing adaptability of exoskeleton devices are the major factors driving the medical exoskeleton market. However, stringent regulatory approvals for product launch and high product cost hamper the market growth to some extent. On the contrary, the growing demand for innovative rehabilitation methods has created an impetus for advanced medical exoskeletons and is driving the development of medical exoskeletons in the near future.
New product releases and cooperation to prosper the market
New product launches and approvals by leading market players drive market growth. For example, in August 2019, partnered with Kindred Healthcare, LLC to develop EksoNR, a next-generation lower extremity rehabilitation exoskeleton. EksoNR is used as a rehabilitation tool, allowing doctors and therapists to perform rehabilitation on patients who have suffered a stroke or spinal cord injury. Also, in 2020, healthcare startup GenElex Technologies is developing an external wearable device that could help people with paralysis, stroke and spinal cord injuries. Additionally, ReWalk has struck deals with German insurers TK and DAK-Gesundheit to offer robotic exoskeleton insurance to people with spinal cord injuries.
Surging use of medical apps
Manufacturers have been focusing on producing new products. The first exoskeletons were primarily intended for amputees, paraplegics and others. Continued innovations in exoskeletons have revolutionized the lives of orthopedic and spine patients. A new generation of exoskeletons, such as stroke and spinal cord injury exoskeletons, make it easier for patients to stand up.
Top Key Players include in the Medical Exoskeletons Market are
Cyberdyne, Ekso Bionics, Rewalk Robotics, Bionik Laboratories, Rex Bionics, Parker Hannifin, B-Temia, Bioness, Hocoma, Wearable Robotics, Gogoa Mobility Robots, Exoatlet, and others.
The Medical Exoskeletons market research report is categorized based on type, applications and region.
On the Basis of Type:
- Powered Exoskeletons
- Passive Exoskeletons
On the Basis of Application:
- Upper Extremity Medical Exoskeletons
- Lower Extremity Medical Exoskeletons
On the Basis of Region:
Geographically, the global Medical Exoskeletons market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Medical Exoskeletons region is dominating this market in the upcoming future.
North America dominates the medical exoskeleton market because of the increase in the geriatric population in this region. Additionally, surging demand for self-assist exoskeletons will flourish the market’s growth rate in this region.
Asia-Pacific is expected to grow during the forecast period due to the rising prevalence of stroke in this region.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Medical Exoskeletons Market report scope
What is the CAGR of the global Medical Exoskeletons market?
The Medical Exoskeletons Market is growing at a CAGR of 35.65% During Forecast Period.
Which region would offer high growth for vendors in the Medical Exoskeletons market?
North America dominates the medical exoskeleton market
Which Is the Most potential market segment?
By Types- Powered Exoskeletons, Passive Exoskeletons
By Applications - Upper Extremity Medical Exoskeletons, Lower Extremity Medical Exoskeletons, Others
Which are the top industry players in the market?
Cyberdyne, Ekso Bionics, Rewalk Robotics, Bionik Laboratories, Rex Bionics, Parker Hannifin, B-Temia, Bioness, Hocoma, Wearable Robotics, Gogoa Mobility Robots, Exoatlet