Global Medical Exoskeleton Market, By Component (Hardware, Software), Type (Powered Exoskeleton, Passive Exoskeleton), Mobility (Stationary, Mobile), Extremity (Lower Extremity, Upper Extremity and Full Body) – Industry Trends and Forecast to 2030.
Medical Exoskeleton Market Analysis and Size
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.
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
2023 to 2030
2021 (Customizable to 2015 - 2020)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Component (Hardware, Software), Type (Powered Exoskeleton, Passive Exoskeleton), Mobility (Stationary, Mobile), Extremity (Lower Extremity, Upper Extremity and Full Body)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
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)
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.
Medical Exoskeleton Market Dynamics
- Increasing number of orthopaedic surgeries
The rise in the number of orthopaedic surgeries will moderate the rate of growth in the medical exoskeleton market. The rise in orthopaedic surgery is primarily due to knee and hip joint replacement surgeries. Limb amputations have been performed as the number of damages or injuries caused by car accidents or various diseases has increased. A rise in the number of amputation operations in diabetic patients with gangrene has been reported. These are the specific factors that drive market growth.
- Rising demand for effective rehabilitation approaches
The global demand for effective rehabilitation methods, including the use of innovative and cutting-edge technology and products, is increasing. This is viewed as a positive sign for the growth of the medical exoskeleton market in all key regions. As a result, influence market dynamics during the forecast period.
Furthermore, the growing number of people with physical disabilities will have a significant impact on the medical exoskeleton market's growth. The rising geriatric populations and increased access to medical exoskeleton insurance coverage in various countries are driving factors accelerating the growth of the medical exoskeleton market. Furthermore, an increase in the number of traffic accidents, severe injuries, and strokes will boost the market's growth rate.
- Increasing number of people with physical disabilities
According to the United Nations Development Program, developing countries are home to 80% of people with disabilities. Physical disabilities can be caused by a variety of factors, including inherited or genetic disorders, severe illnesses, and injuries. This patient population seeks treatment at rehabilitation clinics and qualified care centres that provide inpatient, outpatient, and therapy-based rehabilitation services. Medical exoskeletons are also highly recommended by doctors for stroke rehabilitation. Acquired brain injuries, spinal cord injury (SCI), spina bifida, cerebral palsy, and muscular dystrophy are examples of physical disabilities. Thus, rising stroke, spinal cord injury, ankle brachial index and Spina bifida cases contribute to the growth of the global medical exoskeleton market.
• 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.
- 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.
Global Medical Exoskeleton Market Scope
The medical exoskeleton market is segmented on the basis of component, type, mobility and extremity. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Pneumatic actuator
- Hydraulic actuator
- Electric actuator
- Shape memory alloy actuator
- Power Sources
- Control Systems
- Powered Exoskeleton
- Passive Exoskeleton
- Lower Extremity
- Upper Extremity
- Full Body
Medical Exoskeleton Market Regional Analysis/Insights
The medical exoskeleton market is analysed and market size insights and trends are provided by country, component, type, mobility and extremity as referenced above.
The countries covered in the medical exoskeleton market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical exoskeleton market because the number of elderly people in this area is growing. Additionally, the market's growth rate in this region will be boosted by the rising demand for self-assist exoskeletons.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because stroke is becoming more common in this area.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The medical exoskeleton market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical exoskeleton market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical exoskeleton market. The data is available for historic period 2011-2021.
Competitive Landscape and Medical Exoskeleton Market Share Analysis
The medical exoskeleton market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical exoskeleton market.
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)