Global Exoskeleton Robots Market Analysis 2022

Global Exoskeleton Robots Market Analysis 2022

The Global Exoskeleton Robots Market is expected to reach $2,438.62 million by 2028 growing at a CAGR of 34.5% from 2021 to 2028. Exoskeleton robots or power skeletons are electromechanical wearable robotic units controlled by computer boards to power a system of hydraulics, pneumatics, and motors. Robotic exoskeletons involve sensors, actuators, algorithms, and mechanical structures of acquiring information to execute a motor function. Exoskeleton robots technology designs develop enhancements may increase versatility and safety. They have a tremendous ability to reduce disability and support work tasks. Exoskeleton robots are a unique form of professional services robot. These robotic exoskeletons provide essential support for human motions, with potential uses ranging from consumer products to military deployment. Most of the people using exoskeleton robots can make continued progress in regaining functionality even years after injury.

Factors such as significant growth of the geriatric population, increasing inclination for human augmentation equipment, and rising demand of exoskeleton in military and medical applications are driving the growth of the market. However, high cost of equipment and rising regulatory challenges are restraining the growth of the market.

Based on end user, the healthcare / medical segment is going to have a lucrative growth during the forecast period which can be attributed to the increasing prevalence of inborn physical disabilities, the increasing number of vehicular accidents, and other factors. In addition, the development of soft-suit, lightweight wearable robotics exoskeletons has shown to be a novel technique to aid the elderly in preserving or regaining their gait, as well as children and adults in rehabilitation. Moreover, main companies are proactively firming their market positions by presenting technologically competitive devices in the healthcare industry to sustain themselves in the global market. For instance, in January 2020, GenElex Technologies announced that it would focus on producing external wearing devices for people suffering from paralysis, stroke, and spinal cord injury

The key vendors mentioned are Bionik Laboratories Corp, Cyberdyne Inc, DIH, Ekso Bionics Holdings Inc, Hocoma Ag, Honda Motor Co., Ltd, Lockheed Martin Corp, Myomo Inc, Ottobock, Panasonic Corporation, Parker-Hannifin Corp, Rewalk Robotics Ltd, Rex Bionics Ltd, Toyota Motor Corporation, and US Bionics Inc.

Mobilities Covered:

• Stationary
• Mobile

Types Covered:

• Full Body
• Lower Extremities
• Upper Extremities

Powers Covered:

• Passive
• Powered

End Users Covered:

• Personal Use
• Military
• Industrial
• Healthcare / Medical
• Defense
• Consumer
• Construction

Regions Covered:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Key Questions Answered in this Report:

• How this market evolved since the year 2020
• Market size estimations, forecasts and CAGR for all the segments presented in the scope
• Key Market Developments and financials of the key players
• Opportunity Analysis for the new entrants
• SWOT Analysis of the key players
• Fastest growing markets analyzed during the forecast period