Exoskeleton Market

Ottobock (Germany) and DIH Medical (China) are leading players in Exoskeleton Market

The exoskeleton market is valued at USD 499 million in 2021 and is projected to reach USD 3,340 million by 2026; it is expected to grow at a CAGR of 46.2% from 2021 to 2026.  Although exoskeletons have been in existence for a long time, the market for exoskeletons is growing owing to factors such as growing demand from the healthcare sector for robotic rehabilitation, advancements in robotic technologies, and huge investments for the development of exoskeleton technology.

Ottobock (Germany), DIH Medical (China), CYBERDYNE (Japan), Ekso Bionics. (US), Lockheed Martin Corporation (US), ATOUN. (Japan), BIONIK (Canada), B-Temia (Canada), MediTouch (Israel), ReWalk Robotics (US), Daiya Industry (Japan), Europe Technologies (France), Exhauss (France), Focal Meditech BV (Netherlands), Fourier Intelligence (China), Gogoa Mobility (Spain), Honda Motor Co (Japan), Hyundai Motors (South Korea), Mitsubishi Heavy Industries (Japan), Myomo (US), Parker Hannifin (US), P&S Mechanics (South Korea), Rex Bionics (UK), suitX (US) and Wandercraft (France) are some of the key players in the exoskeleton market.

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Ottobock was ranked first in the exoskeleton market in 2020, with an approximate share of 7–8% of the market. Ottobock is a med-tech company that has been developing innovative products for over 100 years. The company offers services under the Ottobock SE & Co. KGaA name, which was established in 2018 to channel the company’s med-tech expertise into sustainably healthy workplaces. Since 1919, products and technologies from Ottobock have been helping people gain new freedom of movement and avoid potential complications. Initially, the company started treatment for patients with the help of the production of a series of prosthetic components. Since then, the company has been focused on developing microprocessor-controlled knee joints such as the C-Leg (which can be controlled via an app), the computer-controlled C-Brace leg orthosis, the multi-articulating bebionic hand, Juvo power wheelchairs, and the Paexo exoskeleton range for ergonomic workplaces. Ottobock Paexo designs and produces exoskeletons. The company offers a broad variety of exoskeletons for the entire body. From the most researched exoskeleton, the Paexo Shoulder, which provides relief for overhead work, to the newest addition, the Paexo Back, a technical solution for load handling in the logistics industry, Paexo exoskeletons are shaping the future of work. The Paexo series also includes support for the wrist, neck, lower back, and even the thumb. Each Paexo exoskeleton incorporates 100 years of experience with orthopedic technology and pioneering spirit from Ottobock.

DIH Medical held the second position in the exoskeleton market in 2020, with an approximate share of 4–5% of the market. DIH Medical is a healthcare technology company that develops robotics and intelligent systems for rehabilitation and sports medicine, and intelligent medication and supply. As the parent company behind the Hocoma, Motek, and other brands, DIH products can be found in the top hospitals, clinics, and research facilities across the world, pushing forward rehabilitation through fields such as robotics, AR, VR, and AI. The company is committed to bringing the world’s most advanced rehabilitation solutions and innovations to the market. The company has a wide distribution network across APAC, EMEA, North America, and South America. The company offers a wide range of rehabilitation and physical therapy solutions using robotic products, which have been developed with extensive clinical research conducted in the industry. The company has different types of rehabilitation products for arm & hand, gait & balance, and strength endurance. All these products are marketed under brand names such as Hocoma, Motek, and SafeGait Solutions. Through such a huge product portfolio, DIH covers many product features and creates a high impact on customer value.

Related Reports:

Exoskeleton Market with COVID-19 Impact by Type (Powered, Passive), Component (Hardware, Software), Mobility, Body Part (Lower Extremities, Upper Extremities, Full Body), Vertical (Healthcare, Defense, Industrial) and Region - Global Forecast to 2026

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Report Code
SE 5773
RI Published ON
6/7/2021
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