The "Global Exoskeleton Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Technology, Mobility, Body Type, End-User Region" report has been added to ResearchAndMarkets.com's offering.
Global Exoskeleton Market was valued at ~US$ 300 million in 2017. It is estimated to be ~US$ 550 million in 2022 and is expected to reach a market size of ~US$ 2,500 million by 2028 growing with a CAGR of ~20% during 2022 to 2030. The adoption of the exoskeleton in the healthcare sector for robotic rehabilitation is likely to drive market growth.
Adoption of the exoskeleton in the healthcare sector for robotic rehabilitation is driving the growth of the global Exoskeleton market. Robotic rehabilitation means designing wearable robotic exoskeletons to improve movement in persons with impaired physical functioning.
According to the Rehabilitation Council of India, a government body that regulates training programs and courses targeted at the disabled, and special education requirement communities, stated that for every 1 billion of the population the spinal cord injury rate is between 1.85% to 2.19% out of which 75% are from rural areas.
The High Cost of exoskeletons is one of the Major challenges hindering the growth of the global exoskeleton market. Due to rapid advancements in exoskeleton technology, i.e. providing better efficiency and high payload the cost of exoskeletons rise significantly. Furthermore, the average cost of an Exoskeleton in the healthcare sector varies from US$ 77,000 to US$ 100,000.
The COVID-19 pandemic slowed the growth of the Global Exoskeleton Market, owing to the shutdown of production activities in various industrial areas including Robotic Exoskeleton manufacturing units. As a result, production showed a decline in the Global Exoskeleton market.
Competitive Landscape
The Global Exoskeleton Market is highly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Exoskeleton manufacturing.
Large global players constitute ~20% of competitors, while country-niche players represent ~45% of competitors. Most of these country players include component manufacturers and assembling companies.
Some of the major players in the market include Ekso Bionics Holdings, ReWalk Robotics, Cyberdyne Inc., Rex Bionics Ltd., Sarcos, Lockheed Martin Corporation, B-Temia, Ottobock, DIH Medical, Medi-Touch, and among others.
Conclusion
The Global Exoskeleton Market is forecasted to grow exponentially with a CAGR of ~20% during the forecast period primarily driven by the adoption of the exoskeleton in the healthcare sector for robotic rehabilitation.
Though the market is highly competitive with ~ 100 participants, few global players control the dominant share and country-niche players also hold a significant share. North America is the dominating region, owing to the High Purchasing power of the Users.
Key Topics Covered in the Report
- Snapshot of Global Exoskeleton Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Exoskeleton Market
- Historic Growth of the Overall Global Exoskeleton Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter's 5 Forces Analysis of the Global Exoskeleton Industry
- Overview, Product Offerings, and Strategic Developments of Key Competitors
- COVID-19 Impact on the Overall Global Exoskeleton Market
- Future Market Forecast and Growth Rates of the Total Global Exoskeleton Market and by Segments
- Market Size of Mobility/End-user Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Exoskeleton Market
- Major Production/Supply and Consumption/Demand Hubs within Each Major Country
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Key Players
- Ekso Bionics Holdings
- ReWalk Robotics
- Cyberdyne Inc.
- Rex Bionics Ltd.
- Sarcos
- Lockheed Martin Corporation
- B-Temia
- Ottobock
- DIH Medical
- Medi-Touch
- Fourier Intelligence
- Seismic
- ROAM Robotics
- Trexo Robotics
- Bionic Yantra
Scope of the Report
Time Period Captured in the Report
- Historical Period: 2019-2021
- Forecast Period: 2022E-2030F
By Technology
- Powered
- Passive
By Mobility
- Mobile
- Stationary
By Body Type
- Full Body
- Upper Body
- Lower Body
By End-User
- Healthcare
- Defense/Military
- Industrial
- Others
By Region
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy)
- Asia-Pacific (China, Japan, South Korea, India, Australia)
- LAMEA (Latin America, Middle East, Africa)
For more information about this report visit https://www.researchandmarkets.com/r/3sekui
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230517005503/en/
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