The medical exoskeleton global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Medical Exoskeleton Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The medical exoskeleton market size has grown exponentially in recent years. It will grow from $0.34 billion in 2023 to $0.42 billion in 2024 at a compound annual growth rate (CAGR) of 25%. The growth in the historic period can be attributed to an increasing aging population, a rising prevalence of neurological disorders, improved healthcare infrastructure, increased investment in rehabilitation technologies, and a and a growing prevalence of mobility impairments.
The medical exoskeleton market size is expected to see exponential growth in the next few years. It will grow to $1.04 billion in 2028 at a compound annual growth rate (CAGR) of 25.1%. The growth in the forecast period can be attributed to increased adoption in rehabilitation centers, growing awareness and acceptance, rising investments and collaborations, the rising prevalence of chronic diseases, improvements in battery life, and energy efficiency. Major trends in the forecast period include home-based rehabilitation, the development of lightweight and portable designs, integration with telemedicine platforms, and advancements in sensor technologies.
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Scope Of Medical Exoskeleton Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Medical Exoskeleton Market Overview
Market Drivers –
The increase in spinal cord and brain injuries is expected to propel the growth of the medical exoskeleton market going forward. Spinal cord and brain injuries are traumatic damages to the central nervous system that can result in significant impairment of motor, sensory, and cognitive functions. The increase in spinal cord and brain injuries is largely due to a rise in vehicular accidents, falls, sports injuries, and violence. Medical exoskeletons are used for spinal cord and brain injuries to assist with mobility and rehabilitation by providing support and enhancing the user’s physical capabilities. For instance, in November 2023, according to a report published by the New Zealand Spinal Trust, a New Zealand-based non-profit organization dedicated to assisting individuals with spinal cord injuries, the incidence of spinal cord injuries (SCI) experienced a rise, increasing from 41 per million in 2021 to 45 per million in 2022. Therefore, the increase in spinal cord and brain injuries will drive the growth of the medical exoskeleton market.
Market Trends –
Major companies operating in the medical exoskeleton market are focusing on the integration of smart powering mechanism technologies to enhance workforce efficiency and support the nursing profession amid a labor shortage. A smart robotic exoskeleton is a wearable robotic device designed to improve the physical capabilities of the human body. For instance, in December 2023, German Bionic, a Germany-based automation machinery manufacturing company, launched the new Apogee+ e-exoskeleton, designed to support healthcare professionals by providing dynamic lifting assistance and enhancing patient mobilization. It alleviates up to 66 pounds (30 kg) of back strain, helping with tasks like patient transfers, medical exams, and repositioning. The Apogee+ features a safety-first design with a closed structure and special grips to protect against physical risks, making it the safest device for caregivers and patients. Its ergonomic support also helps maintain optimal nurse-patient interactions by blending robotic power with human-centered design.
The medical exoskeleton market covered in this report is segmented –
1) By Type: Powered Exoskeletons, Passive Exoskeletons
2) By Component: Hardware, Software
3) By Mobility: Stationary, Mobile
4) By Extremities: Lower, Upper, Full Body
5) By Application: Spinal Cord Injury, Stroke, Other Applications
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Regional Insights –
North America was the largest region in the medical exoskeleton market in 2023. The regions covered in the medical exoskeleton market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the medical exoskeleton market are Honda, Panasonic Holdings Corporation, Parker Hannifin Corporation, Ottobock SE & Co KGaA, DIH International Limited, Fourier Intelligence, Cyberdyne Inc., GBS German Bionic Systems GmbH, Hocoma AG, Neofect, Bionic Yantra, Ekso Bionics Holdings Inc., Hexar Humancare, MediTouch, Suit X, ReWalk Robotics, Rex Bionics Ltd., Human Motion Technologies LLC, Guangzhou Yikang Medical Equipment, NextStep Robotics, Marsi Bionics, Focal Meditech, Gogoa Mobility Robots, B-Temia, Rehab-Robotics Company Limited, Roam Robotics, Bionik Laboratories Inc
Table of Contents
1. Executive Summary
2. Medical Exoskeleton Market Report Structure
3. Medical Exoskeleton Market Trends And Strategies
4. Medical Exoskeleton Market – Macro Economic Scenario
5. Medical Exoskeleton Market Size And Growth
…..
27. Medical Exoskeleton Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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