Medical Exoskeleton

Global Medical Exoskeleton Market to Reach US$6.5 Billion by 2030

The global market for Medical Exoskeleton estimated at US$1.5 Billion in the year 2023, is expected to reach US$6.5 Billion by 2030, growing at a CAGR of 23.1% over the analysis period 2023-2030. HardwareComponent, one of the segments analyzed in the report, is expected to record a 20.2% CAGR and reach US$3.2 Billion by the end of the analysis period. Growth in the Software Component segment is estimated at 26.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$435.6 Million While China is Forecast to Grow at 21.2% CAGR

The Medical Exoskeleton market in the U.S. is estimated at US$435.6 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$914.1 Million by the year 2030 trailing a CAGR of 21.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 19.6% and 19.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.4% CAGR.

Global Medical Exoskeleton Market - Key Trends and Drivers Summarized

How Are Medical Exoskeletons Redefining Mobility in Healthcare?

Medical exoskeletons are wearable devices that provide powered support to individuals with mobility impairments, such as those recovering from spinal cord injuries or suffering from conditions like multiple sclerosis or stroke. These devices assist users in walking, standing, and even performing rehabilitation exercises, greatly improving their quality of life. Medical exoskeletons are increasingly being adopted in rehabilitation centers and hospitals, where they are used to accelerate recovery and restore mobility. By offering enhanced physical assistance, exoskeletons are also enabling patients to achieve greater independence, reducing the burden on caregivers and healthcare professionals.

What Innovations Are Shaping the Medical Exoskeleton Market?

Innovations in medical exoskeletons include advancements in robotics, lightweight materials, and AI-driven motion control systems. These developments are enabling more intuitive and responsive exoskeletons, allowing for smoother and more natural movements. The integration of AI is helping exoskeletons learn from user movements and adjust in real-time, making them more effective for long-term rehabilitation. Additionally, exoskeletons are becoming lighter and more comfortable to wear, thanks to new materials such as carbon fiber and advanced polymers. Battery technology is also improving, allowing exoskeletons to be used for longer periods without the need for frequent recharging.

How Do Market Segments Define the Growth of Medical Exoskeletons?

Types include powered and passive exoskeletons, with powered exoskeletons accounting for the largest share due to their ability to provide greater mobility assistance. Applications range from rehabilitation to assistive devices for daily use, with rehabilitation being the primary segment as these devices are widely used in physical therapy. End-users include hospitals, rehabilitation centers, and home care settings, with hospitals and rehabilitation centers being the dominant sectors. Geographically, North America leads the market, followed by Europe, while Asia-Pacific is seeing rapid growth due to increasing investments in healthcare technology.

What Factors Are Driving the Growth in the Medical Exoskeleton Market?

The growth in the medical exoskeleton market is driven by several factors, including the increasing prevalence of neurological and mobility disorders, advancements in robotics and AI, and rising demand for rehabilitation technologies. As the global population ages, the incidence of mobility impairments is rising, driving demand for assistive technologies like exoskeletons. Advances in robotics and motion control systems are making these devices more effective and accessible, further boosting market growth. Additionally, the growing focus on improving patient outcomes through rehabilitation and the increasing availability of insurance coverage for medical exoskeletons are contributing to the market`s expansion.

Select Competitors (Total 34 Featured) -

• Bionik Laboratories Corp
• B-TEMIA Inc.
• Cyberdyne Inc.
• Ekso Bionics Holdings, Inc.
• ExoAtlet
• Gogoa Mobility Robots SL
• Hocoma AG (A Subsidiary of DIH Technologies)
• Parker Hannifin Corp
• ReWalk Robotics Ltd
• Rex Bionics Ltd.
• Tyromotion GmbH
• US Bionics
• Wearable Robotics SRL

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