Medical Exoskeleton Market Industry Dynamics, Financial Overview, Competitors Analysis, Emerging Technologies, Revenue Analysis and Forecast 2027

Medical Exoskeleton Market
Press Release

According to a new study, Medical Exoskeleton market is estimated to grow with a CAGR of 29.4% and is expected to reach US$ 1,023.0 Mn from 2019-2027. The report highlights the trends prevalent in the global medical exoskeleton market and the factors driving the market along with those that act as challenges to its growth. The market for medical exoskeleton is expected to grow significantly due to factors such as increase in the number of orthopaedic surgeries, rise in the geriatric population and growing incidences of road accidents. However, the factor such as high cost of the product and regulatory concerns are likely to act as challenges for the growth of the market during the forecast period.

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Key Players:

  • Bioness Inc.
  • B-Temia Inc.
  • BIONIK Laboratories Corp
  • CYBERDYNE INC
  • Ekso Bionics Holdings, Inc
  • EXOATLET
  • GOGOA Mobility Robots
  • Hocoma AG
  • Wearable Robotics srl
  • Parker Hannifin Corporation

The global medical exoskeleton market by extremity segments was led by lower body exoskeleton segment. In 2018, the lower body exoskeleton segment held a largest market share of 68.1% of the medical exoskeleton market, by extremity. However, the upper body exoskeleton segment is expected to be the fastest growing segments of the market in 2027 owing to increasing incidences of the shoulder pain, neck pain and other upper extremity among the working class which is expected to become the major factor for the growth of the medical exoskeleton market.

Medical Exoskeleton – MARKET SEGMENTATION 

By Drive Type

  • Pneumatic Actuator
  • Hydraulic Actuator
  • Electric Actuator
  • Mechanical
  • Shape Memory Alloy Actuator
  • Other Actuator

By Type

  • Powered Exoskeleton
  • Passive Exoskeleton

 

By Extremity

  • Lower Body Exoskeleton
  • Upper Body Exoskeleton

By Application

  • Spinal Cord Injury
  • Multiple Sclerosis
  • Cerebral Palsy
  • Stroke
  • Others 

By End User

  • Rehabilitation Centers
  • Physiotherapy Centers
  • Others

Reason to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the medical exoskeleton market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global medical exoskeleton market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Organic and inorganic growth strategies were observed in global medical exoskeleton industry. The organic strategies which were conducted more compared to the inorganic strategies for the Medical Exoskeleton. For instance, in June, 2019, ReWalk Robotics announced that it has received U.S. Food and Drug Administration approval for its ReStore soft exo-suit system. The approval has helped in the sales of the product to the rehabilitation centers across the United States. Thus, the organic strategy has enabled the company to grow its business in the market.

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