Medical Exoskeleton Market

Ekso Bionics Holdings, Inc. (US) and Parker Hannifin Corp (US) are the Key Players in the Medical Exoskeleton Market

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. 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 and the increasing insurance coverage for medical exoskeletons in several countries driving the growth of the medical exoskeleton market.

Key players in the medical exoskeleton market include 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, O.O.O. (Russia). Agreements, collaborations, partnerships, and expansions are some of the major growth strategies followed by key players between 2015 and 2018.

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Ekso Bionics Holdings, Inc. (US) is a pioneer in the medical exoskeleton domain and the company dominated the market in 2017. The leading position of the company can be attributed to its wide geographical presence, it Ekso Bionics sells its products across North America, Europe, the Middle East, and Africa. The company offers advanced products in the market, such as the EksoGT, which is a wearable robotic exoskeleton that enables individuals to stand up and walk with a full weight bearing, reciprocal gait in a clinical setting. Similarly, the Ekso GT, with a smart Variable Assist software (designed for rehabilitation institutions) provides adaptive amounts of power to either side of the patient’s body, engaging the patient throughout his or her continuum of care. To date, the Ekso has helped patients take more than 41 million steps in over 115 rehabilitation institutions around the world.

Parker Hannifin Corp (US) held the second position in the medical exoskeleton market in 2017. This can be attributed to the company’s strong brand name in high-growth geographies and its wide geographical presence. Parker Hannifin sells its products in the US and Europe. Furthermore, to expand its territorial reach, the company also sells its products in Asia and the Middle East through its strong distribution network. To strengthen its position Parker Hannifin also focuses on product approvals, for example, in September 2017, the company received expanded FDA clearance for its Indego Exoskeleton for personal and clinical use.

Related Reports:

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

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Report Code
MD 6481
RI Published ON
7/26/2018
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