The global exoskeleton market size was USD 484.8 Million in 2021, and is expected to register a revenue CAGR of 45.9% during the forecast period. A major factor expected to drive market revenue growth is increasing incidence of stroke owing to rapid growth in elderly population across the globe. Rising Medical Device adoption rates in various industries such as car, military, defense, and construction are one of the primary drivers behind the market revenue growth. Furthermore, rising number of Spinal Cord Injuries (SCI) is expected to drive demand in global markets. According to the National Spinal Cord Injury Statistical Center (NSCISC), there were 17,730, 17,810, and 10,9000 SCI cases in 2019, 2020, and 2021, respectively. Furthermore, roughly 296,000 Americans have SCIs of some kind.
Moreover, as the global population with impairments grows, there is a rise in the need for robotic rehabilitation equipment. Musculoskeletal injuries and disorders such as Repetitive Strain Injury (RSI), Cumulative Trauma Disorders (CTD), and Occupational Overuse Syndromes (OOS) are expected to drive revenue growth of the market. According to World Health Organization statistics from February 2021, 1.71 billion people worldwide suffer from musculoskeletal disorders. According to data released by the Health and Safety Executive (HSE) in November 2020, 480,000 employees in the U.K. suffered from work-related musculoskeletal ailments in 2019-20, with a rate of 2,020 cases per 100,000 workers in the construction industry.
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In the pharmaceutical and healthcare sectors, there is rapid change. As cell and gene therapies become increasingly available, patients are finding appropriate treatments for previously incurable diseases. Machine learning and artificial intelligence (AI) technologies are making it possible for more inventive, faster, and cheaper therapy development to take place. By utilizing data-driven projects, manufacturing, the supply chain, and the entire healthcare ecosystem can benefit. It is clear that consumer attitudes and behaviors are shifting, ranging from a greater use of technology and data sharing to a willingness to use tools to make prescriptions and treatment decisions. Pharma and healthcare markets are expected to grow in the next few years as a result of such factors.
Robot-assisted therapy systems are getting familiar in rehabilitation as they provide a number of benefits, including conducting repetitive motions during goal-directed activities, monitoring different physiological and functional parameters during rehabilitation exercises, enhancing motivation, and aiding with home exercises and training. An increase in the number of people with physical restrictions, particularly among the elderly, and usage of exoskeletons for such purposes has contributed to the market revenue growth.
Key Players covered in this report are
Lockheed Martin Corporation, ReWalk Robotics, Parker Hannifin Corp., Rex Bionics Ltd., Ekso Bionics, Cyberdyne Inc., ATOUN Inc., BIONIK, Hocoma, Honda Motor Co. Ltd., Wandercraft, and Ottobock.
Segments Covered in the report
By Product Type Outlook
Powered
Passive
By Component Type Outlook
Hardware
Electric Actuator
Pneumatic Actuator
Hydraulic
Control Systems/Controllers
Electric Servo
Others
Software
By Anatomy Type Outlook
Lower Extremities
Upper Extremities
Full Body
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Based on Region market is segmented into:
North America
Europe
Asia-Pacific
South America
Middle East & Africa
Major Points covered in this report are as below:
An analysis of Exoskeleton industry development trends and marketing channels, as well as an assessment of the feasibility of new investment projects, is presented in the study.
In addition to providing key statistics on the industry, the report provides valuable guidance and direction for companies and individuals interested in this market through tables and figures.
In addition to developing policies and plans, this report analyzes manufacturing processes and cost structures. It also provides information about import/export demand, costs, prices, revenues, and gross margins.
This report provides information on the market status of Exoskeleton manufacturers and provides valuable insight into the market for companies and individuals.
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We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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