South America Exoskeleton Robotic System Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Lower Body Exoskeleton, Upper Body Exoskeleton, and Full Body Exoskeleton) and Application (Healthcare, Defense, and Industrial)

South America Exoskeleton Robotic System Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Lower Body Exoskeleton, Upper Body Exoskeleton, and Full Body Exoskeleton) and Application (Healthcare, Defense, and Industrial)

The South America exoskeleton robotic system market is expected to grow from US$ 51.91 million in 2022 to US$ 182.50 million by 2028; it is estimated to record a CAGR of 23.3% from 2022 to 2028.Inc

Increasing Technological Advancements and Rising Investments to Drive South America Exoskeleton Robotic System Market Growth During Forecast Period

The healthcare industry trends are changing drastically due to constant technological developments and innovations, enhancing healthcare services and quality of care. Various SAM market players are striving hard to acquire a larger market share, followed by rising investments in exoskeleton robotic systems on a region level. For instance, in April 2022, Exoskeleton maker RoboCT Technology Development Co. completed a $ 15.7 million (RMB 100 million) Series A+ financing round. Additionally, the surge in R&D activities by the companies is expected to accelerate the development of advanced systems for diverse application areas such as healthcare, chemical, defense, and commercial. The companies also hold their technology and intellectual property rights (IPR) that help them maintain their market share. For instance, RoboCT Technology Development Co. is involved in the research and development of exoskeleton technology in several fields, such as entertainment, industry, and sports. RoboCT has applied for over 100 intellectual Property Rights (IPRs) and has received more than 20 awards across different fields. Also, constant technological advancements are expected to augment the market growth. The increased adoption of artificial intelligence (AI) and Internet of Things (IoT) in developing smart exoskeleton robotic systems is expected to complement the market growth. As it is providing the data necessary for advance machine learning and cultivating AI applications it becomes unique in the industry. Thus, the increasing technological advancements and rising investments are likely to catalyze the growth of the SAM exoskeleton robotic system market.

South America Exoskeleton Robotic System Market Overview

The South & Central America exoskeleton robotic system market is segmented into Brazil, Argentina, and the Rest of South & Central America. The healthcare industry in the region is developing significantly owing to the increasing investments and surging healthcare expenditure. Moreover, increase in technological advancements and new product launches are further expected to fuel the growth of the exoskeleton robotic system market in South & Central America during the forecast period.

South America Exoskeleton Robotic System Market Revenue and Forecast to 2028 (US$ Million)

South America Exoskeleton Robotic System Market Segmentation

The South America exoskeleton robotic system market is segmented on the basis of type, application, and country. Based on type, the South America exoskeleton robotic system market is segmented into lower body exoskeleton, upper body exoskeleton, and full body exoskeleton. The lower body exoskeleton segment held the largest market share in 2022.

Based on application, the South America exoskeleton robotic system market is segmented into healthcare, defense, and industrial. The healthcare segment held the largest market share in 2022.

Based on country, the South America exoskeleton robotic system market is segmented into Brazil, Argentina, and the Rest of South America. The Rest of South America dominated the market share in 2022.

Lockheed Martin Corp; Cyberdyne Inc.; Panasonic Holdings Corp; Hocoma AG; ReWalk Robotics Inc.; Ekso Bionics Holdings Inc.; Parker Hannifin Corp.; and AlterG Inc. are the leading companies operating in the South America exoskeleton robotic system market.

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