Medical Exoskeleton Market

The report "Medical Exoskeleton Market by Component (Hardware (Sensor, Actuator, Control System, Power Source), Software), Type (Powered, Passive), Extremities (Lower, Upper and Full Body) & Mobility (Mobile, Stationary) - Global Forecasts to 2026" The medical exoskeleton market size is projected to reach USD 1.0 billion by 2026, from USD 0.2 billion in 2021, at a CAGR of 45.0%.

Browse 96 market data Tables and 38 Figures spread through 178 Pages and in-depth TOC on "Medical Exoskeleton Market by Component (Hardware (Sensor, Actuator, Control System, Power Source), Software), Type (Powered, Passive), Extremities (Lower, Upper and Full Body) & Mobility (Mobile, Stationary) - Global Forecasts to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/medical-exoskeleton-market-138546702.html

The growth of this market is mainly driven by 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.

The companies have a large market spread across various countries in North America, Europe, Asia, and the Rest of the World.

Impact of Covid-19 on The Medical Exoskeleton Market

As of September 2021, more than 220 million confirmed cases of COVID-19 were reported globally, with more than 4.5 million deaths (Source: WHO). This situation has compelled governments across the world to take proactive measures to contain the outbreak.

The COVID-19 pandemic had a negative impact on the market in 2020, with small and medium-sized companies struggling to sustain their businesses. The medical exoskeleton market is witnessing a variable growth trend, with some countries offering some growth potential while others are facing closures and low profit margins. Major exoskeleton providers, such as Ekso Bionics, ReWalk Robotics, and Hocoma AG, have incurred a reduction in overall revenue for the fiscal year 2020 due to a decline in the demand for exoskeleton systems. Manufacturers are likely to adjust production to prevent bottlenecks and plan production according to the demand from OEMs. Tier 1 players experienced a decline in revenue in the remaining quarters of 2020. Moreover, medical exoskeleton manufacturers are facing disruptions in supply chains as countries are under lockdown to prevent the spread of the disease.

The hardware segment accounted for the largest share 78.6% of the medical exoskeleton market

The medical exoskeleton market, by component, is segmented into hardware and software. The hardware segment is expected to account for the largest share 78.6% of the medical exoskeleton market in 2020. 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.

The lower extremity segment accounted for the largest share 63.0% of the medical exoskeleton market

By extremity, the market is segmented into lower extremity medical exoskeletons and upper extremity medical exoskeletons and Full Body extremity medical exoskeletons. In 2020, the lower extremity medical exoskeletons segment is expected to account for a larger share of 63.0% of the market. Lower extremity exoskeletons provide stability to paralyzed and geriatric patients and offer weight-bearing and locomotion capabilities. As a result, their adoption is higher in the rehabilitation of patients.

North America accounted for the largest share 44.4%. of the global medical exoskeleton market

Based on the region, the medical exoskeleton market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2020, North America is expected to dominate the market with a share of 44.4%. The growing geriatric population, increasing demand for self-assist exoskeletons, high prevalence of stroke, and growing number of spinal cord injuries (SCI) are the key factors driving the growth of the medical exoskeleton market in this region.

Some of the leading players in the Medical exoskeleton market include Key players in this market are Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd. (Israel), Parker Hannifin Corp (US), CYBERDYNE Inc. (Japan), Bionik Laboratories Corp (Canada), 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 (Luxembourg).

Don’t miss out on business opportunities in Medical Exoskeleton Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]