Medical Exoskeleton Market Size, Share, Opportunities and Key Drivers
Medical Exoskeleton Market Size, Share, Opportunities and Key Drivers
Blog Article
Medical Exoskeleton Market - Size, Share, Demand, Industry Trends and Opportunities
Global Medical Exoskeleton Market, By Component (Hardware and Software), Type (Powered Exoskeleton and Passive Exoskeleton), Mobility (Stationary and Mobile), Extremity (Lower Extremity, Upper Extremity, and Full Body) – and Industry Trends.
The global medical exoskeleton market size was valued at USD 450 million in 2023 and is projected to reach USD 894 million by 2031, with a CAGR of 45.3% during the forecast period of 2024 to 2031.
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**Global Medical Exoskeleton Market Analysis**
The global medical exoskeleton market is witnessing significant growth and is expected to continue expanding in the coming years. Medical exoskeletons are wearable robotic devices designed to assist individuals with mobility impairments. The market for medical exoskeletons is being primarily driven by the rising prevalence of neurological disorders such as stroke, spinal cord injuries, and multiple sclerosis, which often result in varying degrees of mobility limitations. Additionally, the increasing geriatric population, who are more prone to age-related mobility issues, is contributing to the growing demand for medical exoskeletons. Technological advancements in the field of robotics and artificial intelligence are also fueling market growth, leading to the development of more sophisticated and user-friendly exoskeletons.
**Segments**
1. **Type**: The market can be segmented based on type into powered exoskeletons and passive exoskeletons. Powered exoskeletons are equipped with motors and sensors to provide assistance with movement, while passive exoskeletons rely on mechanical structures to support and augment the user's mobility.
2. **Mobility**: Another segmentation criterion is based on mobility, dividing the market into lower body exoskeletons, upper body exoskeletons, and full body exoskeletons. Lower body exoskeletons are primarily used for lower limb rehabilitation, while upper body exoskeletons assist with upper limb movements. Full body exoskeletons offer comprehensive support for both upper and lower body movements.
3. **End-User**: The market can also be segmented by end-user, including hospitals, rehabilitation centers, and home care settings. Hospitals and rehabilitation centers are the primary users of medical exoskeletons for therapy and rehabilitation purposes, while home care settings are increasingly adopting exoskeletons to aid individuals with mobility issues in their daily activities.
**Market Players**
- Bionik Laboratories Corp.
- Cyberdyne Inc.
- Ekso Bionics Holdings, Inc.
- ReWalk Robotics
- Hocoma AG
- Parker Hannifin Corp
- Rex Bionics Ltd.
- Gogoa Mobility Robots
- B-TEMIA Inc.
- Wearable Robotics SRL
The global medical exoskeleton market is highly competitive with a mix of established players and emerging companies striving to innovate and enhance their product offerings. Collaborations, partnerships, and product launches are key strategies adopted by market players to gain a competitive edge and expand their market presence.
In conclusion, the global medical exoskeleton market is poised for robust growth driven by the increasing prevalence of mobility impairments, technological advancements, and the growing adoption of exoskeletons in rehabilitation and assistive care settings. However, challenges such as high costs, limited reimbursement policies, and technical complexities remain significant hurdles for market expansion. Continued research and development efforts, along with a focus on improving affordability and accessibility, will be crucial for the sustained growth of the medical exoskeleton market.
https://www.databridgemarketresearch.com/reports/global-medical-exoskeleton-market
Table of Content:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Global Medical Exoskeleton Market Landscape
Part 04: Global Medical Exoskeleton Market Sizing
Part 05: Global Medical Exoskeleton Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Medical Exoskeleton Key Benefits over Global Competitors:
- The report provides a qualitative and quantitative analysis of the Medical Exoskeleton Market trends, forecasts, and market size to determine new opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment pockets are highlighted in the research.
- The major countries in each region are analyzed and their revenue contribution is mentioned.
- The market player positioning segment provides an understanding of the current position of the market players active in the Personal Care Ingredients
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