The global exoskeleton market is projected to witness a compound annual growth rate of 38.61% during the forecast period to reach a total market size of US$3201.60 million by 2023, increasing from US$451.37 million in 2017. The global market for exoskeleton is largely driven by recent advances in technology coupled with rising adoption of exoskeletons in the military and industrial sector. The growing demand for exoskeleton in rehabilitation, as well as increasing number of people suffering from spinal cord injuries, will boost the demand for exoskeletons. The continuous product innovation will augment the demand for exoskeletons in the coming years. In addition to this, the rising adoption of exoskeletons in developing countries will further add to their demand over the projected period.
Geographically, Americas accounted for the largest share in 2017 and is expected to grow at a high rate. The major factors responsible for this growth are the ongoing technological development and high-speed technology adoption within the region. Moreover, the rising government support coupled with increasing number of approved products by the US FDA will further contribute to the market growth. In addition, the region consists of a large population with traumatic brain surgeries, spinal cord injuries and cerebral palsy which results in a steep rise in the number of rehabilitation centres.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the pressure sensors value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Parker Hannifin Corporation, Hocoma, Myomo, Inc., Ekso Bionics, ReWalk Robotics, and Cyberdyne, Inc. among others.
The global exoskeleton market has been analyzed through following segments:
- ·Powered Exoskeletons
- ·Passive Exoskeletons
- ·Pseudo-Passive Exoskeletons
- ·Upper Body
- ·Lower Body
- ·Complete Body
- United Kingdom
- South Africa
- South Korea