Medical Exoskeleton Market to Observe Prominent CAGR Growth of 45.3% by 2029
Global Medical Exoskeleton Market report incorporates the precisely scrutinized and evaluated data of the top business players and their degree in the market by various methods, and techniques for a range of explanatory tools. This market research report brings into focus the key market dynamics of the sector. Market segmentation gives clear idea about the product consumption based on several factors that includes but are not limited to type, application, deployment model, end user and geographical region. Global Medical Exoskeleton Market research report deals with the analysis of the up-and-coming trends along with major drivers, restraints, challenges and opportunities in the market for HEALTHCARE industry.
According to the WHO, 15% of the global population (an estimated 1.1 billion people) is disabled. The rising number of people with physical disabilities has fueled the expansion of the global medical exoskeleton market. Medical exoskeletons are used to power disabled, injured, or vulnerable people suffering from a variety of medical conditions such as SCI, neuropathy, major trauma such as stroke, and cerebral palsy. These medical exoskeletons are typically used in monitored settings such as hospitals and rehab centres under the supervision of medical professionals.
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Data Bridge Market Research analyses that the medical exoskeleton market which is USD 0.31 billion in 2022, is expected to reach USD 6.16 billion by 2030, at a CAGR of 45.3% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Exoskeleton Market Scope and Segmentation
| REPORT METRIC | DETAILS |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historic Years | 2021 (Customizable to 2015 – 2020) |
| Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
A medical exoskeleton is a wearable electromechanical device designed to help patients with mobility issues recover from their injuries and motor function in their partially or completely paralysed lower extremities. Orthotics devices, which help people regain their ability to walk or move, are instances of gadgets that can improve biological abilities. This wearable device provides patients with increased mobility, strength, and endurance. Medical exoskeletons help people with physical disabilities such as spinal cord injuries, neurological disorders, paralysis, and the elderly.
Restraints/Challenges
• Obtaining regulatory approval for exoskeleton medicinal applications presents a number of challenges
During product testing, the manufacturer’s technical design expertise and knowledge may matter. Exoskeletons created for medical usage must be carefully examined because a malfunctioning piece of medical equipment could have fatal consequences. To ensure that a wearer’s safety is not compromised by the high-power output of actuators used in such devices, regulatory agencies have developed a strict licencing process.
On the other hand, the market for medical exoskeletons will have difficulties due to safety concerns. During the projected period of 2023–2030, the appearance of unfavourable conditions due to the COVID-19 epidemic and long-term power supply requirements will also operate as a restraint and further hinder the growth rate of the market.
This medical exoskeleton market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical exoskeleton market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2021, Ottobock introduced the Paexo Shoulder Jacket, Paexo Thumb Slim, and Paexo Cool Sleeve products at the Hannover Messe Digital Edition 2021 event. These devices provide excellent relaxation to the body during strenuous tasks such as moving heavy packages or performing overhead labour.
- In 2020, Ekso Bionics Holdings Inc., a leading provider of exoskeleton technologies for medical and industrial applications, will launch EVOTM, an upper-body assistance exoskeleton that increases endurance and reduces the strain of repetitive work. EVO is the next step in industrial exoskeleton technology, building on the company’s ground-breaking EksoVest technology.
Some of the major players operating in the medical exoskeleton market are:
- Ekso Bionics (U.S.)
- ReWalk Robotics (Israel)
- PARKER HANNIFIN CORP (U.S.)
- CYBERDYNE INC. (Japan)
- BIONIK (Canada)
- Rex Bionics Ltd., (U.K.)
- B-Temia (Canada)
- Bioventus (U.S.)
- Hocoma (Switzerland)
- Wearable Robotics srl (Italy)
- ExoAtlet (Luxembourg)
- Meditouch (Israel)
- Suit X (U.S.)
- MarsiBionics (Spain)
- Rehab-Robotics Company Limited (Hong Kong)
- Myomo Inc. (U.S.)
- Focal Meditech (Netherlands)
- Honda Motor Co., Ltd. (Japan)
- Wandercraft (France)
- MEDEXO ROBOTICS (Hong Kong)
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Medical Exoskeleton Market Scope
Component
- Hardware
- Sensors
- Actuators
- Pneumatic actuator
- Hydraulic actuator
- Electric actuator
- Mechanical
- Shape memory alloy actuator
- Others
- Power Sources
- Control Systems
- Others
- Software
Type
- Powered Exoskeleton
- Passive Exoskeleton
Mobility
- Stationary
- Mobile
Extremity
- Lower Extremity
- Upper Extremity
- Full Body
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Fundamental Aim of this Market Report
- Notable Market rivals around the world.
- Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
Key highlights of this Market report:
- Major restraints
- Market drivers
- Regional bifurcation
- Competitive hierarchy
- Current market tendencies
- Market concentration analysis
Browse the complete table of contents at – https://www.databridgemarketresearch.com/toc/?dbmr=global-medical-exoskeleton-market&Shri
Critical Insights Related to the adalimumab biosimilar Included in the Report:
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- Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth-driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
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