Global Medical Exoskeleton Market Share Estimated to be Worth USD 4,676.61 Million By 2030 | CAGR: 44.8%: Polaris Market Research

NEW YORK, March 24, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "Medical Exoskeleton Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, and Software); By Type (Powered, and Passive); By Application (Spinal Cord Injury, Multiple Sclerosis, Cerebral Palsy, Stroke, and Others); By End-Use; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to research report published by Polaris Market Research, the global medical exoskeleton market share expected to reach to USD 4,676.61 Million By 2030 from USD 203.68 Million in 2021, at a compound annual growth rate (CAGR) of 44.8% during forecast period 2022 to 2030.

What is Medical Exoskeleton? How big is Medical Exoskeleton Market?

• Overview

Medical exoskeleton is a wearable electromechanical device that has been designed for rehabilitation of patients with mobility disorders, recovering the injuries and motor activity of partially or completely disabled lower extremities. The devices can also augment biological capacities, such as orthotic devices for the recovery of walking or moving. As a result, this wearable device gives patients extra movement, strength, and endurance. The medical exoskeletons improve the quality of life of people with a physical disability such as spinal cord injury, neurological disorder, paralysis, or old age people.

Physiotherapy centers and rehabilitation centers use some of the medical human exoskeletons for inpatient training and movement. Other industries such as the military, civilians also use this technology to enhance soldiers' travel and loading capacities as well as improve an operator's load-handling capabilities. In the medical profession, the device is utilized to regain lost functionality and patient life and to train people with motor nerve degeneration and cognitive-motor limitation.

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What Does the Report Include?

• Status of the global medical exoskeleton market
• Top companies operating in the market
• Import-export policies regarding the products/services in the medical exoskeleton market
• Research and development activities
• Segmentation according to application, type, and geography
• Comparative study of the domestic and international prices of the products and services and related price fluctuations
• The market's driving forces and roadblocks
• The value and volume of medical exoskeleton submarkets, with respect to key regions

Top Market Players Are:

• Bionik Laboratories
• Bioventus
• B-TEMIA Inc
• Cyberdyne Inc.
• Ekso Bionics
• Gogoa Mobility Robots
• Lockheed Martin Corporation
• Parker Hannifin Corp
• Rewalk Robotics
• Rex Bionics
• Suit X
• Wearable Robotics

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Medical Exoskeleton Market: Driving Factors

The increase in the number of orthopedic surgeries will drive the growth of the medical exoskeleton market. The surge in the number of patients with physical disabilities across the globe and growing insurance coverage for medical exoskeleton is expected to accelerate the market growth. The rising number of damages or injuries caused by road accidents or various diseases which has led to an increase in the number of amputation operations is also positively favoring the growth of the market. Moreover, the rise in the advancements & adaption of exoskeleton devices is also accelerating the market growth. The growing demand for effective rehabilitation approaches including the use of new and advanced technologies and products has prompted the development of medical exoskeleton, thereby driving the growth of medical exoskeleton in near future.

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Global Medical Exoskeleton Market: Report Scope

Medical Exoskeleton Market: Market Segmentation

Insights based on component, type, application, end-use, and region.

On the basis of type, the powered exoskeleton segment accounted for the largest market share and is expected to retain its dominance in the foreseen period. The key contributors to this growth include the increasing need for personal safety and productivity and the presence of numerous controlling functions and sensors, to sense tilt, speed, and motion. Also, the rising use of powered medical exoskeletons by construction workers to move heavy objects is expected to drive this segment's growth.

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Medical Exoskeleton Market: Geographical Overview

On the basis of geography, North America witnessed the largest market share and is expected to dominate the market during the projected time period. This growth of the medical exoskeleton market in this region can be attributed to the increasing geriatric population, growing demand for self-assist exoskeletons, rising cases of stroke, and an increasing number of spinal cord injuries (SCI). Moreover, in 2021, Asia-Pacific is anticipated to generate a high CAGR in the global market owing to a rise in the manufacture of medical exoskeletons for the defense sector. In addition, China, Japan, and South Korea are the developing countries expected to be the major revenue-generating economies.

The COVID-19 pandemic which resulted in slow down and delay of the manufacturing processes has negatively affected the medical exoskeleton market with small and medium-sized companies facing workforce issues.

Browse the Detail Report "Medical Exoskeleton Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, and Software); By Type (Powered, and Passive); By Application (Spinal Cord Injury, Multiple Sclerosis, Cerebral Palsy, Stroke, and Others); By End-Use; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/medical-exoskeleton-market  

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Frequently Asked Questions (FAQ):

• What is the current size of the global medical exoskeleton market?
• Who are the winners in the global medical exoskeleton market?
• What segments are covered in the market?
• Who are the key players?
• What are the areas of application?
• What is the growth scope of the medical exoskeleton market?
• What are the medical exoskeleton market growth factors?

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The market is primarily segmented based on component, type, application, end-use, and region.

Medical Exoskeleton Market: By Component Outlook

• Hardware
• Sensor
• Actuator
• Control System
• Power Source
• Software

Medical Exoskeleton Market: By Type Outlook

• Powered
• Passive

Medical Exoskeleton Market: By Application Outlook

• Spinal Cord Injury
• Multiple Sclerosis
• Cerebral Palsy
• Stroke
• Others

Medical Exoskeleton Market: By End-Use Outlook

• Rehabilitation Centres
• Physiotherapy Centres
• Others

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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SOURCE Polaris Market Research

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