The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
“The global medical exoskeleton market projected to grow at a CAGR of 37.4%.”
The global medical exoskeleton market is projected to reach USD 571.6 million by 2023 from USD 116.7 million in 2018, at a CAGR of 37.4%. The increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches; agreements and collaborations among companies and research organizations for the development of the exoskeleton technology; and increasing insurance coverage for medical exoskeletons in several countries are the major factors driving the growth of the market. However, the high cost of medical exoskeletons may restrict market growth to a certain extent.
“Mobile medical exoskeletons are projected to grow at the highest CAGR during the forecast period.”
By mobility, the medical exoskeleton market is segmented into mobile and stationary exoskeletons. During the forecast period the mobile exoskeleton segment is estimated to grow with the highest CAGR. The growth of this segment can be attributed to the increasing demand for compact, light-weight mobile medical exoskeletons that can provide mobility assistance to paralyzed patients.
“The powered exoskeletons segment to grow at the highest rate during the forecast period.”
Based on type, the medical exoskeleton market is segmented into powered and passive exoskeletons. The powered exoskeleton segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the presence of sensors and various controlling functions in powered exoskeletons to sense motion, tilt, and speed.
“Asia to witness high growth during the forecast period”
In 2018, North America is projected to account for the largest share of the market followed by Europe. However, Asia is expected to register the highest CAGR during the forecast period. The high growth in Asia is attributed to the growing geriatric and physically disabled population, large population base, and the increase in disposable income in the region.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 – 62%, Tier 2 - 25%, Tier 3 - 13%
- By Designation: C-level- 29%, D-level- 25%, others- 46%
- By Region: North America-55%, Europe-24%, Asia-15%, RoW-6%
List of companies profiled in the report
• Ekso Bionics Holdings, Inc. (US)
• ReWalk Robotics Ltd (Israel)
• Parker Hannifin Corp (US)
• Bionik Laboratories Corp (Canada)
• CYBERDYNE Inc. (Japan)
• Rex Bionics Ltd. (UK)
• B-TEMIA Inc. (Canada)
• Hocoma AG (A Subsidiary of DIH Technologies) (Switzerland)
• Wearable Robotics SRL (Italy)
• Gogoa Mobility Robots SL (Spain)
• Bioness Inc. (US)
• ExoAtlet, O.O.O. (Russia)
The report provides an overview of the medical exoskeleton market. It aims at estimating the market size and future growth potential of this market across different segments such as component, type, mobility, extremity, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of revenues for the overall market and its subsegments. This report will help stakeholders to understand the competitive landscape better and gain valuable insights to position their businesses and help companies make suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and will provide them with information regarding key market drivers and opportunities.