What Has Been The Evolution of the Medical Exoskeleton Market in Recent Years?
The medical exoskeleton market has seen considerable growth due to a variety of factors.
• In recent times, the medical exoskeleton market has seen exponential growth. The market size is set to increase from $0.42 billion in 2024 to $0.53 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 25.3%.
This growth during the historic period can be credited to factors such as a mounting aged population, growing instances of neurological disorders, enhanced healthcare structures, augmented funding in rehabilitation technologies, and an escalating occurrence of mobility impairments.
What Is the Forecasted Market Size and Growth Rate for The Medical Exoskeleton Market Size In The Coming Years?
The medical exoskeleton market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the medical exoskeleton market is anticipated to experience remarkable expansion over the coming years. It is predicted that by 2029 it will have increased to $1.29 billion, with a compound annual growth rate (CAGR) of 25.0%.
Factors contributing to this projected growth throughout the forecast period include its growing usage in rehabilitation centers, heightened awareness and acceptance, increased investments and collaborations, the increasing incidence of chronic illnesses, enhancements in battery longevity and energy efficiency. Significant trends for the forecast period encompass home-based rehabilitation, the creation of lightweight and transportable models, amalgamation with telemedicine platforms, and progress in sensor technologies.
What Factors Are Driving Growth In The Medical Exoskeleton Market?
The escalation in the occurrences of injuries to the brain and spinal cord is projected to aid in fuelling the expansion of the medical exoskeleton market. Injuries to the spinal cord and brain, which inflict devastating impact on the central nervous system, often lead to significant motor, sensory, and cognitive function impairments. This surge in spinal cord and brain injuries can be largely attributed to an increase in vehicle accidents, falls, sports-related injuries, and acts of violence. Medical exoskeletons are employed to aid individuals with spinal cord and brain injuries, facilitating movement and rehabilitation by providing necessary support and boosting their physical abilities. To illustrate, a report by the New Zealand Spinal Trust, a non-profit organization based in New Zealand committed to assisting those with spinal cord injuries, showed that the occurrence of spinal cord injuries (SCI) saw a notable rise in November 2023, climbing from 41 per million in 2021 to 45 per million in 2022. Consequently, this rise in occurrences of spinal cord and brain injuries will act as a key driver for the expansion of the medical exoskeleton market.
What Are The Main Segments Of The Global Medical Exoskeleton Market?
The medical exoskeletonmarket covered in this report is segmented –
1) By Type: Powered Exoskeletons, Passive Exoskeletons
2) By Component: Hardware, Software
3) By Mobility: Stationary, Mobile
4) By Extremities: Lower, Upper, Full Body
5) By Application: Spinal Cord Injury, Stroke, Other Applications
Subsegments:
1) By Powered Exoskeletons: Lower Limb Exoskeletons, Upper Limb Exoskeletons, Full-Body Exoskeletons, Rehabilitation Exoskeletons, Industrial Exoskeletons
2) By Passive Exoskeletons: Lower Limb Passive Exoskeletons, Upper Limb Passive Exoskeletons, Posture-Support Exoskeletons, Assistive Devices for Daily Living
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What Trends Are Shaping The Medical Exoskeleton Market?
Prominent firms active in the medical exoskeleton market are concentrating on introducing advanced powering technology solutions to increase workforce productivity, notably in nursing, where there is a labor shortage. A smart robotic exoskeleton is an innovative, wearable robotic unit made to enhance human physical abilities. For instance, in December 2023, German Bionic, a Germany-originated company specialized in the production of automation machinery, introduced their latest product, the Apogee+ e-exoskeleton. Designed specifically to assist healthcare workers, the device provides dynamic lifting support while also facilitating patient movement. It mitigates up to 66 pounds (30 kg) of back strain, aiding in various tasks such as patient relocation, medical check-ups, and repositioning. The Apogee+ boasts a design that prioritizes safety, featuring a closed structure and unique grips for protection against physical hazards, establishing itself as the most secure device for both patients and caregivers. The device's ergonomic design further facilitates enhanced nurse-patient interactions, perfectly integrating robotic power with a human-centric design.
Who Are the Key Players In The Medical Exoskeleton Market?
Major companies operating in the medical exoskeleton market are:
• Honda
• Panasonic Holdings Corporation
• Parker Hannifin Corporation
• Ottobock SE & Co KGaA
• DIH International Limited
• Fourier Intelligence
• Cyberdyne Inc.
• GBS German Bionic Systems GmbH
• Hocoma AG
• Neofect
• Bionic Yantra
• Ekso Bionics Holdings Inc.
• Hexar Humancare
• MediTouch
• Suit X
• ReWalk Robotics
• Rex Bionics Ltd.
• Human Motion Technologies LLC
• Guangzhou Yikang Medical Equipment
• NextStep Robotics
• Marsi Bionics
• Focal Meditech
• Gogoa Mobility Robots
• B-Temia
• Rehab-Robotics Company Limited
• Roam Robotics
• Bionik Laboratories Inc
What Is The Most Dominant Region In The Medical Exoskeleton Market?
North America was the largest region in the medical exoskeleton market in 2024. The regions covered in the medical exoskeleton market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
