Exoskeleton Market Key Manufacturers and Global Industry Analysis by 2030

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Exoskeleton Market Size Was Worth USD 499 Million in 2021 and Is Projected to Grow to USD 15227.44 Million by 2030, at a CAGR of 46.2% Over The Forecast Period of 2022 to 2030.

In order to support human joints, a robotic exoskeleton combines human intelligence and mechanical strength. Parkinson's disease, stroke, multiple sclerosis, and cerebral palsy patients can use robotic exoskeletons to assist with their mobility.

To aid patients with mobility issues recover from their wounds and motor function in their partially or completely paralysed lower extremities, the medical exoskeleton was developed. The technologies can enhance biological capabilities, such as orthotics devices that assist people in regaining their mobility. Thus, this wearable device gives patients greater flexibility, stamina, and endurance. Medical exoskeletons improve the quality of life for those with physical limitations such paralysis, spinal cord injuries, neurological illnesses, and elderly people.

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Exoskeleton Market: Segmentation Analysis

 Exoskeleton Market based on component
• Hardware
   o Sensors (gyroscopes, microphones, accelerometers, tilt sensors, force/torque sensors, position sensors, and others
   o Actuators (electrical, pneumatic, hydraulic, and piezoelectric)
   o Power Sources
   o Control Systems
   o Other hardware components
• Software

The software segment is anticipated to showcase lucrative expansion trends over the forecast duration owing to technologies advancements in the field which in turn will result in the rise of complexities in autonomous operations, artificial intelligence (AI), and inter device connectivity of exoskeletons. These complexities can be managed and assisted efficiently by software rather than hardware.

Exoskeleton Market based on Mobility
• Mobile
• Stationary

 The Mobile segment dominated the global market and accounted for the largest revenue share exceeding 60.7%, and also registered the largest volume share of 61.7%. The mobile segment is expected to register the fastest growth over the forecast period. This high share and massive growth is attributed to the growth in RD activities and boost in demand for motor-equipped robots for helping human body mechanisms.

Exoskeleton Market based on Type
• Powered
• Non Powered

 The Powered segment led the Global Exoskeleton market and accounted for more than 74.7% share of the global revenue share and volume share of 67.6%. This high share is attributed to the installation of powered exoskeleton solutions in various industries to boost productivity and enhance personal safety. There are several benefits that have been associated with powered technology products, such as smooth lifting motions, strain reduction on workers' bodies, productivity enhancement, and strength boosting.

However, the passive technology segment is anticipated to register substantial growth over the forecast period.

Exoskeleton Market based on Application
• Healthcare
• Defense
• Industrial
• Others

 The healthcare segment has been dominating the Exoskeleton market and held the largest revenue share of 51.3% and volume share of 51.8% in 2021. This high share and volume are attributed to the adoption of these products in the rehabilitation centers, rise in the number of spinal cord injuries (SCIs). Furthermore, rising cognizance towards technological advancement system and growth in a number of regulatory approvals.

Exoskeleton Market based on Body Part
• Lower Extremities
• Upper Extremities
• Full Body

 The lower extremities segment is expected to capture significant market share over the stipulated timeline owing to the fact that the most common mobility issues are related to the lower part of the body. Hence, lower-body exoskeletons are widely adopted across the healthcare sector.

Exoskeleton Market based on Treatment Type
• Rehabilitation
• Augmentation

 Top Key Players:-

  • Hocoma
  • Bionik Laboratories Corp.
  • ExoAtlet Lockheed Martin Corporation
  • Suit X
  • Rex Bionics Plc.
  • RB3D
  • ReWalk Robotics Ltd
  • Cyberdyne, Inc.
  • ActiveLink (Panasonic Corporation)
  • Parker Hannifin (US),
  • TEMIA Inc
  • Bioventus
  • Wearable Robotics SRL
  • Gogoa Mobility Robots SL
  • Meditouch
  • PS Mechanics
  • Marsi Bionics
  • Rehab Robotics
  • Myomo
  • Focal Meditech
  • Honda Motors
  • Wandercraft
  • BAMA Teknoloji
  • Medexo Robotics
  • Fourier Intelligence
  • TWIICE

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Frequently Asked Questions (FAQ):

  1. What is the market size for the exoskeleton market?
  2. What are the major driving factors and opportunities in the exoskeleton market?
  3. Who are the leading players in the global exoskeleton market?
  4. What is the COVID-19 impact on the exoskeleton market?
  5. What are some of the technological advancements in the market?

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