Medical Exoskeleton Market Size is estimated to grow at a CAGR of 40.0% during the forecast period

 

The global medical exoskeleton market size is anticipated to expand at a compounded annual growth rate (CAGR) of 40.0% during the forecast period of 2022-2030.

Exoskeletons are uses of biomechatronics and robotics to improve humans while they conduct various jobs. Exoskeletons come in a variety of forms, including powered armor, robotic suits, powered jackets, wearable machines, and exo-frames or suits.

They are used in medicine to treat musculoskeletal problems, improve lost functionality and quality of life in physically challenged persons, and in rehabilitation, particularly for lower and upper extremity treatment and inpatient training and locomotion. Exoskeletons help physical therapists teach individuals with cognitive-motor limitations and degenerative motor nerve disorders.

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Growth Drivers:

The global advancement and adaptation of exoskeleton devices, the growing availability of insurance coverage for medical exoskeletons in most nations, the rise in spinal cord injuries, the proliferation of cutting-edge rehabilitation techniques, and the widespread use of exoskeletons in medical applications are the main factors propelling the growth of this market.

Additionally, over the past several years, there has been a dramatic increase in the number of people worldwide who have a physical impairment of some kind. Strokes, car accidents, or serious injuries are the main causes or contributing factors to these disabilities. Globally, the senior population is continuously expanding, which is more likely to experience strokes.

The U.S. Census Bureau recently released figures showing that by 2050, the population will nearly quadruple in age. All of these elements contribute to the desire for and necessity of effective rehabilitation. Therefore, it is anticipated that over the projected period, the worldwide medical exoskeleton market will develop at a faster rate due to the rising need for rehabilitation from patients with physical disabilities who are proliferating around the world.

A number of additional factors, including growing medical robotics innovations and an increase in orthopaedic surgeries brought on by chronic diseases like rheumatoid arthritis (RA), ankylosing spondylitis (AS), and osteoporosis, are also anticipated to contribute to the market's expansion over the course of the forecast period. Exoskeleton systems are increasingly in demand because they help maintain the body's natural posture and provide strength.

Medical Exoskeleton Market Segmentation:

By Component:

·         Hardware

o   Sensors

§  Gyroscopes

§  Microphones

§  Accelerometers

§  Tilt Sensors

§  Force/Torque sensors

§  Position Sensors

§  Others

o   Actuators

§  Electrical

§  Pneumatic

§  Hydraulic

§  Piezoelectric

o   Power Sources

o   Control Systems

o   Other Hardware Components

·         Software

 

By Type:

·         Powered Exoskeletons

·         Passive Exoskeletons

 

By Extremity:

·         Upper Extremity Medical Exoskeletons

·         Lower Extremity Medical Exoskeletons

·         Full Body

 

By Mobility:

·         Mobile Exoskeletons

·         Stationary Exoskeletons

 

By Structure:

·         Rigid Exoskeletons

·         Soft Exoskeleton

 

By Drive Type:

·         Pneumatic Actuator

·         Hydraulic Actuator

·         Electric Actuator

·         Mechanical

·         Shape Memory Alloy Actuator

·         Other Actuator

 

By Application:

·         Spinal Cord Injury

·         Multiple Sclerosis

·         Cerebral Palsy

·         Stroke

·         Other

 

By End- User:

·         Rehabilitation Centers

·         Physiotherapy Centers

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Key Companies in Medical Exoskeleton Market:

·         Bioventus

·         Hocoma AG

·         Wearable Robotics SRL

·         Gogoa Mobility Robots SL

·         ExoAtlet

·         Meditouch

·         Suit X

·         Focal Meditech

·         Honda Motors

·         Wandercraft

·         BAMA Teknoloji

·         Medexo Robotics

·         Fourier Intelligence

·         Parker Hannifin Corp.

·         Lockheed Martin Corporation

·         ReWalk Robotics Ltd.

·         Bionik Laboratories Corp.

·         Ekso Bionics Holdings Inc.

·         B-TEMIA Inc.

·         Other Players

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                   

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