Global Exoskeleton Market by Body Part Covered (Upper Body, Lower Body and Full Body), Mode of Operation (Powered, Passive and Hybrid), Form of Exoskeleton (Rigid and Soft), Mobility (Fixed / Supported and Mobile), End Users (Patients, Healthcare Provider

Global Exoskeleton Market by Body Part Covered (Upper Body, Lower Body and Full Body), Mode of Operation (Powered, Passive and Hybrid), Form of Exoskeleton (Rigid and Soft), Mobility (Fixed / Supported and Mobile), End Users (Patients, Healthcare Providers, Industry Workers, Military Personnel and Others) and Geography (North America, Europe, Asia-Pacific, and Rest of the World): Industry Trends and Global Forecasts, 2023-2035

The global exoskeleton market is projected to reach USD 20,000 million by 2035 growing at a CAGR of 23.1% during the forecast period 2023-2035.

From the past years, the healthcare system has faced an increasing burden from neurological disorders like multiple sclerosis and strokes, which have become more prevalent. According to the World Health Organization (WHO), approximately 1.8 million people worldwide are currently living with multiple sclerosis, and over 12.2 million individuals suffer from strokes each year. These numbers are expected to rise further due to the aging population.

Neurological disorders often result in muscle weakness, impacting mobility, whether it's in specific muscle groups (like hemiplegia, paraplegia, or quadriplegia) or throughout the entire body. Unfortunately, there is no cure for neuromotor impairment, but the use of assistive mobility devices such as wheelchairs, crutches, and walkers can enhance independence and comfort for patients. While these devices are widely used, they offer short-term relief rather than a transformative solution. Additionally, improper handling or prolonged use of these devices can lead to physical fatigue, discomfort, and injuries, ultimately reducing the patients' quality of life. In fact, it's reported that approximately 50% of manual wheelchair users experience shoulder injuries at some point in their lives.

Over time, exoskeletons have emerged as a partial alternative or complementary rehabilitation device, enabling individuals with spinal cord injuries and related conditions to walk more freely in hospitals and at home compared to traditional mobility options. A medical exoskeleton is a wearable electromechanical device designed to assist patients with mobility issues, whether they are partially or completely paralyzed, in regaining movement in their upper or lower extremities. By harnessing neuroplasticity, medical exoskeletons equipped with sensors, motors, actuators, power sources, and control strategies facilitate the recovery of fundamental movements and accelerate rehabilitation from injuries, such as acquired brain injury (ABI) or spinal cord injury (SCI). Beyond patients, healthcare providers such as nurses and surgeons also face various musculoskeletal disorders due to the physically demanding nature of their roles in the healthcare sector. Medical exoskeletons can assist caregivers in tasks such as lifting and moving patients, navigating obstacles, and standing for extended periods.

Outside the healthcare industry, exoskeleton technology is being used to enhance the performance of workers and prevent work-related accidents in a wide range of industries, including construction, logistics, vehicle manufacturing, aircraft production, shipyards, automotive and metal mechanics, foundries, aeronautics, maintenance, and other factory work. According to estimates from the International Labor Organization (ILO), over 2.3 million workers die each year due to work-related accidents or diseases. With such a significant number of accidents occurring annually, the adoption of industrial exoskeletons to assist workers in physically demanding tasks such as lifting heavy loads or performing overhead work has the potential to not only improve workplace safety but also increase employee retention, enhance productivity, and reduce costs.

Owing to the numerous advantages they offer, the adoption of exoskeleton devices is hindered by various factors, including cost barriers and a lack of awareness among potential users. To encourage broader acceptance, exoskeleton companies are directing their research and development efforts towards reducing the cost of exoskeletons. They are also incorporating advanced technologies such as cloud computing, deep learning, smart sensors, and artificial intelligence into their exoskeleton product offerings. As exoskeleton technology continues to advance and the cost of these devices decreases, and as stakeholders recognize the positive return on investment (ROI) associated with exoskeleton products due to their higher benefit-cost ratio, the adoption of this emerging technology is expected to increase across various industries. This, in turn, will drive the growth of the global exoskeleton market during the forecast period.

Key Market Segments

Body Part Covered

Upper Extremity

Lower Extremity

Full Body

Mode of Operation

Powered

Passive

Hybrid

Form

Rigid

Soft

Mobility

Fixed / Supported

Mobile

End Users

Patients

Healthcare Providers

Industry Workers

Military Personnel

Others

Geography

North America

Europe

Asia-Pacific

Rest of the World

Research Coverage:

The report studies the exoskeleton market based on body part covered, mode of operation, form of exoskeleton, mobility, end users and geography

The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth

The report assesses the potential advantages and obstacles within the market for those involved and offers information on the competitive environment for top players in the market.

The report forecasts the revenue of market segments with respect to four major regions

It offers an insightful assessment of product competitiveness in the medical exoskeleton market, considering factors like supplier strength, product features, and end users.

The report features detailed profiles of key wearable exoskeleton companies, focusing on their establishment, size, location, leadership, financial performance (if available), product portfolio, recent developments, and future outlook.

Analysis of recent partnerships and collaborations related to medical exoskeletons, established since 2017.

The report delves into patents filed or granted for exoskeletons since 2016, considering patent types, application and publication years, geographical location, applicant type, publication time, CPC symbols, and leading patent holders, accompanied by a comprehensive patent benchmarking analysis.

It provides a strategic guide for emerging medical exoskeleton companies to gain a competitive edge through a blue ocean strategy, offering thirteen strategic tools to explore untapped market opportunities.

Key Benefits of Buying this Report

The report offers market leaders and newcomers valuable insights into revenue estimations for both the overall market and its sub-segments.

Stakeholders can utilize the report to enhance their understanding of the competitive landscape, allowing for improved business positioning and more effective go-to-market strategies.

The report provides stakeholders with a pulse on the exoskeleton market, furnishing them with essential information on significant market drivers, barriers, opportunities, and challenges.

Key Market Companies

Bionic Yantra

CYBERDYNE

Ekso Bionics

ExoAtlet

Fourier Intelligence

Gloreha

Guangzhou Yikang Medical Equipment

Hexar Humancare

Hocoma

MediTouch

Milebot Robotics

Myomo

Neofect

NextStep Robotics

Panasonic

ReWalk Robotics

Rex Bionics

Roam Robotics

Trexo Robotics

Tyromotion

U&O Technologies