The global exoskeleton market size is expected to reach USD 13.98 Billion in 2030 and register a revenue CAGR of 45.8% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is majorly driven by healthcare and military applications and technological advancements in robotics. The exoskeleton is an externally worn support device that helps persons with impairments such as spinal cord injury and neurological diseases such as stroke or paralysis walk or move. The product is being used in various sectors, including warehousing and construction. Rapid advancements in materials science, artificial intelligence, and robotics have transformed the landscape of the exoskeleton industry.
Exoskeletons are currently making a significant impact in the lives of persons with paraplegia, amputees, and other handicapped patients, by allowing them to walk. A new exoskeleton invention may be able to get spinal cord injury or paralysis patients back on their feet. Aside from the need for exoskeletons in army applications for prevention of wounds and injuries, enhanced weight lighting capacity is another critical use for soldiers. Exoskeletons in the military allow troops to carry up to 17 times their body weight.
In addition, increasing frequency of spinal cord damage will also add momentum for production of exoskeleton business. According to the NSCISC (National Spinal Cord Injury Statistical Center), approximately 17,730 new cases of spinal cord injury were recorded in the US in 2019. Furthermore, increase in the frequency of accidents resulting in spinal cord injuries will increase the revenue growth of exoskeleton market.
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Some Key Highlights from the Report:
mobile exoskeleton accounted for largest revenue share in 2020 and is expected to register a faster CAGR over the forecast period. The primary goal of employing exoskeletons is to make individuals more mobile, which can only be accomplished by using mobile exoskeletons; hence, mobile exoskeletons are in more demand than stationary exoskeletons. Lower extremity exoskeletons designed for human mobility aid are used to assist patients who have lost all mobility in their lower limbs owing to disorders such as spinal cord injury (SCI), multiple sclerosis, and so on.
lower body segment is expected to account for largest revenue share over the forecast period. Majority of exoskeletons are intended to assist patients with mobility concerns. The most prevalent mobility impairments are related to concerns in the lower half of the body. As a result, there is a relatively strong demand for lower-body exoskeletons. Lower-body exoskeletons are used to aid individuals with impairments in mobility. They may also be utilized for a variety of different purposes, such as assisting soldiers on the battlefield. As a result, the lower body segment will continue to account for largest revenue share over the forecast period.
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Exoskeleton market in Asia Pacific accounted for largest revenue share in 2020, owing to growing demand for exoskeletons in end use sectors, including healthcare, industrial, and defense. With a growth in the number of geriatric and disabled people in the region, particularly in China and Japan, the use of exoskeletons for rehabilitation and personal support applications is expected to increase.
Some major companies in exoskeleton market include Lockheed Martin Corporation, ReWalk Robotics, Parker Hannifin Corp., Rex Bionics Ltd., Ekso Bionics, Cyberdyne Inc., ATOUN Inc., Hocoma, Wandercraft, and Otto Bock.
For the purpose of this report, Reports and Data has segmented exoskeleton market based on component, anatomy, mobility, end use, type, structure, and region:
- Component Outlook (Revenue, USD Million; 2018–2030)
- Hardware
- Electric Actuator
- Pneumatic Actuator
- Hydraulic
- Control Systems/Controllers
- Electric Servo
- Software
- Hardware
- Anatomy Outlook (Revenue, USD Million; 2018–2030)
- Lower Body
- Upper Body
- Full Body
- Mobility Outlook (Revenue, USD Million; 2018–2030)
- End Use Outlook (Revenue, USD Million; 2018–2030)
- Hospitals
- Industrial
- Military & Defense
- Others
- Type Outlook (Revenue, USD Million; 2018–2030)
- Structure Outlook (Revenue, USD Million; 2018–2030)
- Rigid Exoskeleton
- Soft Exoskeleton
- Regional Outlook (Revenue, USD Million; 2018–2030)
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
-
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest Of MEA
Browse for More Details:
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About Reports and Data
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