Medical Exoskeleton Market

Medical Exoskeleton Market by Component (Hardware (Sensor, Actuator, Control System, Power Source), Software), Type (Powered, Passive), Extremities (Lower, Upper) & Mobility (Mobile, Stationary) - Global Forecast to 2023

Report Code: MD 6481 Jul, 2018, by marketsandmarkets.com

[116 Pages Report] A medical exoskeleton, also known as a wearable robot, is a robotic machine suite worn by humans in place of their limbs to complement, substitute, and enhance human functions. It helps in physical movements by offering increased strength and endurance.

The global medical exoskeleton market is projected to reach USD 571.6 million by 2023 from USD 116.7 million in 2018, at a CAGR of 37.4% during the forecast period. Factors such as the increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches; agreements and collaborations among companies and research organizations for the development of the exoskeleton technology; and increasing insurance coverage for medical exoskeletons in several countries driving the growth of the medical exoskeleton market. However, the high cost of medical exoskeletons may restrict market growth to a certain extent.

Medical Exoskeleton Market

The hardware segment is expected to account for the largest share of the medical exoskeleton market during the forecast period

The dominant share of this segment is attributed to the fact that a large number of parts such as sensors, actuators, power sources, and control systems are required to manufacture exoskeletons. Manufacturers are also adding upgraded and advanced hardware into the overall design to enhance the capability of medical exoskeletons, making them smarter and more interactive.

Medical Exoskeleton Market

The powered exoskeleton segment to record the highest CAGR of the medical exoskeleton market

This segment is expected to continue to dominate the market and grow at a higher CAGR during the forecast period. The presence of sensors and various controlling functions in powered exoskeletons to sense motion, tilt, and speed is the major factor driving the growth of this segment.

Mobile medical exoskeletons to dominate this market during the forecast period

Mobile medical exoskeletons are expected to dominate this market. The large share of this segment can be attributed to the high demand for compact, light-weight mobile medical exoskeletons that can offer mobility assistance to paralyzed patients.

Asia to grow at the highest CAGR during the forecast period

The growing geriatric and physically disabled population, large population base, increase in disposable income, and the presence of prominent manufacturers in this region are some of the key factors driving the growth of the medical exoskeleton market in Asia.

Market Dynamics

Driver: Increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches

Globally, the number of people with physical disabilities is increasing majorly due to the rising geriatric population, increasing number of road accidents and severe trauma injuries, and increasing prevalence of stroke, among other factors. All major regions across the globe are witnessing significant growth in their geriatric populations, and this trend is expected to continue in the coming years.

Opportunity: Introduction of soft actuators

Currently, the medical exoskeletons industry is focusing on developing soft exoskeletons (without electronic motors and heavy batteries), which augment normal muscle function in healthy individuals for commercial use. Currently, these exoskeletons are available only for research purposes. Such exoskeletons have soft actuators that can be easily driven by an off-board compressor.

Soft exoskeletons are attached to the body securely and comfortably and transmit forces over the body through beneficial paths such that biologically appropriate moments are created at the joints. Compared to traditional exoskeletons, these exoskeletons are ultra-light-weight and have low mechanical impedance and inertia. The use of soft actuators has led to the development of inexpensive gait-supportive exoskeletons, creating opportunities for new players in the industry.

Challenge:  High cost of medical exoskeletons

The average cost of exoskeletons is much higher than alternatives such as powered wheelchairs. Also, these devices have high maintenance and service costs and require a trainer who is well-versed in the functioning of power suits. As a result, the cost of ownership of medical exoskeletons is very high.

Scope of the Report

Report Metric

Details

Market size available for years

2016–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

USD million

Segments covered

Type, Component, Extremity, Mobility, and Region

Geographies covered

North America, Europe, Asia, and Rest of the World

Companies covered

Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd (Israel), Parker Hannifin Corp (US), Bionik Laboratories Corp (Canada), CYBERDYNE Inc. (Japan), Rex Bionics Ltd. (UK), B-TEMIA Inc. (Canada), Hocoma AG (A Subsidiary of DIH Technologies) (Switzerland), Wearable Robotics SRL (Italy), Gogoa Mobility Robots SL (Spain), and ExoAtlet, (Russia)

This report categorizes the medical exoskeleton market into the following segments and subsegments:

Medical Exoskeleton Market, By Component

  • Hardware
  •  Software

Medical Exoskeleton Market, By Type

  • Powered Exoskeletons
  • Passive Exoskeletons

Medical Exoskeleton Market, By Extremity

  • Upper Extremity Medical Exoskeletons
  • Lower Extremity Medical Exoskeletons

Medical Exoskeleton Market, By Mobility

  • Stationary Exoskeletons
  • Mobile Exoskeletons

Medical Exoskeleton Market, By Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • RoE
  • Asia
  • Rest of the World (RoW)

Key Market Players

Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd (Israel), Parker Hannifin Corp (US), ), Bionik Laboratories Corp (Canada), CYBERDYNE Inc. (Japan)

    Recent Developments

    • In August 2018, Bionik Laboratories integrated Amazon's Echo ("Echo") technology and Alexa Voice Service ("Alexa") for ARKE lower-body exoskeleton
    • In March 2018, CYBERDYNE and Brooks Rehabilitation (US) established a joint venture company called CYBERDYNE & BROOKS, Inc. (C&B). C&B opened the Brooks Cybernic Treatment Center (“BCTC”) and commenced its sales operation to spread HAL for Medical Use Lower Limb Type (“Medical HAL”) to all parts of the US. This will help the company to expand its business in the US with a vast network and patient pool of the Brooks Rehabilitation Center.
    • In July 2017, ReWalk entered into an agreement with Harmonie Mιdical Service (France). Under the agreement, Harmonie Mιdical Service will facilitate the distribution of ReWalk systems to the spinal cord injured (SCI) community. This will help the company to grow its market in France.
    • In February 2017, Ekso Bionics launched EksoPulse, an advanced cloud-based information technology platform.
    • In January 2017, Rex Bionics announced that the ethics committee of the UK NHS’s National Institute for Health Research has approved the start of a clinical trial to evaluate the use of the REX robotic mobility device in patients with multiple sclerosis (MS).

    Critical questions the report answers:

    • What are the upcoming trends for this market?
    • Which segment in this market provides the most opportunity for growth?
    • Who are the leading vendors operating in this market?
    • What are the opportunities for new market entrants in this market?

    To speak to our analyst for a discussion on the above findings, click Speak to Analyst

    Table of Contents

    1 Introduction (Page No. - 13)
        1.1 Objectives of the Study
        1.2 Market Definition
        1.3 Market Scope
               1.3.1 Markets Covered
               1.3.2 Years Considered for the Study
        1.4 Currency
        1.5 Limitations
        1.6 Stakeholders

    2 Research Methodology (Page No. - 17)
        2.1 Research Data
               2.1.1 Secondary Data
                        2.1.1.1 Key Data From Secondary Sources
               2.1.2 Primary Data
                        2.1.2.1 Key Data From Primary Sources
                        2.1.2.2 Key Industry Insights
        2.2 Market Size Estimation
        2.3 Data Triangulation
        2.4 Assumptions for the Study

    3 Executive Summary (Page No. - 25)

    4 Premium Insights (Page No. - 29)
        4.1 Medical Exoskeleton: Market Overview
        4.2 Medical Exoskeleton Market, By Component, 2018 vs 2023 (USD Million)
        4.3 Europe: Medical Exoskeleton Market, By Hardware Type & Country
        4.4 Medical Exoskeleton Market, By Extremity
        4.5 Medical Exoskeleton Market: Geographic Snapshot

    5 Market Overview (Page No. - 33)
        5.1 Introduction
        5.2 Market Dynamics
               5.2.1 Drivers
                        5.2.1.1 Increasing Number of People With Physical Disabilities and Subsequent Growth in the Demand for Effective Rehabilitation Approaches
                        5.2.1.2 Agreements and Collaborations Among Companies and Research Organizations for the Development of the Exoskeleton Technology
                        5.2.1.3 Increasing Insurance Coverage for Medical Exoskeletons in Several Countries
               5.2.2 Opportunities
                        5.2.2.1 Introduction of Soft Actuators
               5.2.3 Challenges
                        5.2.3.1 High Cost of Medical Exoskeletons

    6 Medical Exoskeleton Market, By Component (Page No. - 38)
        6.1 Introduction
        6.2 Hardware
               6.2.1 Sensors
               6.2.2 Actuators
               6.2.3 Power Sources
               6.2.4 Control Systems
               6.2.5 Other Hardware Components
        6.3 Software

    7 Medical Exoskeleton Market, By Type (Page No. - 45)
        7.1 Introduction
        7.2 Powered Exoskeleton
        7.3 Passive Exoskeleton

    8 Medical Exoskeleton Market, By Mobility (Page No. - 49)
        8.1 Introduction
        8.2 Stationary Medical Exoskeletons
        8.3 Mobile Medical Exoskeletons

    9 Medical Exoskeleton Market, By Extremity (Page No. - 53)
        9.1 Introduction
        9.2 Lower Extremity Medical Exoskeletons
        9.3 Upper Extremity Medical Exoskeletons

    10 Medical Exoskeleton Market, By Region (Page No. - 57)
         10.1 Introduction
         10.2 North America
                 10.2.1 US
                 10.2.2 Canada
         10.3 Europe
                 10.3.1 UK
                 10.3.2 Germany
                 10.3.3 France
                 10.3.4 Rest of Europe (RoE)
         10.4 Asia
         10.5 Rest of the World

    11 Competitive Landscape (Page No. - 81)
         11.1 Overview
         11.2 Market Share Ranking
         11.3 Competitive Situations and Trends
                 11.3.1 Product Launches, Enhancements, and Approvals
                 11.3.2 Agreements, Collaborations, Alliances, Joint Ventures, Contracts, and Partnerships
                 11.3.3 Mergers and Acquisitions
                 11.3.4 Expansions

    12 Company Profiles (Page No. - 86)
    (Business Overview, Products Offered, Recent Developments, MnM View)*
         12.1 Cyberdyne
         12.2 Ekso Bionics Holdings
         12.3 Rewalk Robotics
         12.4 Bionik Laboratories
         12.5 Rex Bionics
         12.6 Parker Hannifin
         12.7 B-Temia
         12.8 Bioness
         12.9 Hocoma AG (A Subsidiary of DIH Technologies)
         12.10 Wearable Robotics
         12.11 Gogoa Mobility Robots
         12.12 Exoatlet

    *Business Overview, Products Offered, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

    13 Appendix (Page No. - 109)
         13.1 Insights From Industry Experts
         13.2 Discussion Guide
         13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
         13.4 Available Customizations
         13.5 Related Reports
         13.6 Author Details


    List of Tables (69 Tables)

    Table 1 Cost of Medical Exoskeletons
    Table 2 Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 3 Medical Exoskeleton Hardware Market, By Type, 2016–2023 (USD Million)
    Table 4 Medical Exoskeleton Hardware Market, By Region, 2016–2023 (USD Million)
    Table 5 Sensors Market, By Region, 2016–2023 (USD Million)
    Table 6 Actuators Market, By Region, 2016–2023 (USD Million)
    Table 7 Power Sources Market, By Region, 2016–2023 (USD Million)
    Table 8 Control Systems Market, By Region, 2016–2023 (USD Million)
    Table 9 Other Hardware Components, By Region, 2016–2023 (USD Million)
    Table 10 Medical Exoskeleton Software Market, By Region, 2016–2023 (USD Million)
    Table 11 Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 12 Powered Exoskeleton Market, By Region, 2016–2023 (USD Million)
    Table 13 Passive Exoskeleton Market, By Region, 2016–2023 (USD Million)
    Table 14 Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 15 Stationary Medical Exoskeletons Market, By Region, 2016–2023 (USD Million)
    Table 16 Mobile Medical Exoskeletons Market, By Region, 2016–2023 (USD Million)
    Table 17 Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 18 Medical Exoskeleton Market, By Extremity, 2016–2023 (Units)
    Table 19 Lower Extremity Medical Exoskeletons Market, By Region, 2016–2023 (USD Million)
    Table 20 Upper Extremity Medical Exoskeletons Market, By Region, 2016–2023 (USD Million)
    Table 21 Medical Exoskeleton Market, By Region, 2016–2023 (USD Million)
    Table 22 Medical Exoskeleton Market, By Region, 2016–2023 (Units)
    Table 23 North America: Medical Exoskeleton Market, By Country, 2016–2023 (USD Million)
    Table 24 North America: Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 25 North America: Medical Exoskeleton Hardware Market, By Type, 2016–2023 (USD Million)
    Table 26 North America: Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 27 North America: Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 28 North America: Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 29 US: Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 30 US: Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 31 US : Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 32 US: Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 33 Canada: Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 34 Canada: Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 35 Canada: Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 36 Canada: Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 37 Europe: Medical Exoskeleton Market, By Country, 2016–2023 (USD Million)
    Table 38 Europe: Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 39 Europe: Medical Exoskeleton Hardware Market, By Type, 2016–2023 (USD Million)
    Table 40 Europe: Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 41 Europe: Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 42 Europe: Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 43 UK: Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 44 UK: Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 45 UK: Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 46 UK: Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 47 Germany: Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 48 Germany: Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 49 Germany: Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 50 Germany: Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 51 France: Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 52 France: Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 53 France: Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 54 France: Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 55 RoE: Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 56 RoE: Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 57 RoE: Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 58 RoE: Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 59 Asia: Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 60 Asia: Medical Exoskeleton Hardware Market, By Type, 2016–2023 (USD Million)
    Table 61 Asia: Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 62 Asia: Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 63 Asia: Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 64 RoW: Medical Exoskeleton Market, By Component, 2016–2023 (USD Million)
    Table 65 RoW: Medical Exoskeleton Hardware Market, By Type, 2016–2023 (USD Million)
    Table 66 RoW: Medical Exoskeleton Market, By Type, 2016–2023 (USD Million)
    Table 67 RoW: Medical Exoskeleton Market, By Mobility, 2016–2023 (USD Million)
    Table 68 RoW: Medical Exoskeleton Market, By Extremity, 2016–2023 (USD Million)
    Table 69 Market Ranking: Medical Exoskeleton Market (2017)


    List of Figures (31 Figures)

    Figure 1 Research Design
    Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, and Region
    Figure 3 Market Estimation: Bottom-Up Approach
    Figure 4 Market Size: Top-Down Approach
    Figure 5 Data Triangulation Methodology
    Figure 6 Medical Exoskeleton Market, By Component, 2018–2023 (USD Million)
    Figure 7 Medical Exoskeleton Market, By Type, 2018–2023 (USD Million)
    Figure 8 Medical Exoskeleton Market, By Extremity, 2018-2023 (USD Million)
    Figure 9 Medical Exoskeleton Market, By Mobility, 2018–2023 (USD Million)
    Figure 10 Medical Exoskeleton Market: Geographical Snapshot
    Figure 11 Increasing Demand for Effective Rehabilitation Approaches is Driving Market Growth
    Figure 12 Hardware is Projected to Dominate the Medical Exoskeleton Market in 2018
    Figure 13 Actuators to Hold the Largest Share of the Medical Exoskeleton Hardware Market in 2018
    Figure 14 Upper Extremity Exoskeletons to Grow at the Highest CAGR From 2018 to 2023
    Figure 15 Asia to Be the Fastest-Growing Regional Segment During the Forecast Period
    Figure 16 Medical Exoskeleton Market: Drivers, Opportunities, and Challenges
    Figure 17 Aging Population, By Region, 2015 vs 2030
    Figure 18 Percentage of Disabled People in the Total Population of the US, 2011–2016
    Figure 19 US: Percentage of Disabled People, By Age Group, 2016
    Figure 20 Hardware Segment to Dominate the Medical Exoskeleton Market During the Forecast Period
    Figure 21 Powered Exoskeleton Segment to Dominate the Market During the Forecast Period
    Figure 22 Mobile Medical Exoskeletons to Dominate the Medical Exoskeleton Market During the Forecast Period
    Figure 23 Lower Extremity Medical Exoskeletons Segment to Dominate the Medical Exoskeleton Market During the Forecast Period
    Figure 24 North America: Medical Exoskeleton Market Snapshot
    Figure 25 Europe: Medical Exoskeleton Market Snapshot
    Figure 26 Key Players Adopted Organic and Inorganic Growth Strategies Between January 2015 and June 2018
    Figure 27 Market Evolution Framework
    Figure 28 Cyberdyne: Company Snapshot (2017)
    Figure 29 Company Snapshot: Ekso Bionics (2017)
    Figure 30 Company Snapshot: Rewalk Robotics (2017)
    Figure 31 Company Snapshot: Parker Hannifin (2017)


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    Report Code
    MD 6481
    Published ON
    Jul, 2018
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