The high-quality Medical Exoskeleton Market report presents CAGR value fluctuations in percentage during the forecast period of 2022-2029 for the Medical Exoskeleton Market industry. This report is generated by considering all the major aspects of market research that comprehensively bring the market landscape into focus. Additionally, it includes historic data, current market trends, environmental factors, technological innovations, and progress in the related industry. The Medical Exoskeleton Market document comprises detailed data and information providing current and upcoming opportunities to clarify future investments in the market.
By fully understanding the client’s requirements, the finest market research report is provided to them. SWOT analysis and Porter's Five Forces Analysis are two widely used techniques in generating the Medical Exoskeleton Market survey report. This not only saves valuable time but also adds credibility to the work conducted to grow the business. This world-class report is the result of a highly enthusiastic and motivated team with expertise in various areas such as research, assessment, analysis, consulting, and development. The market research report serves as a backbone for the growth of any business, whether small or large.
According to the WHO, 15% of the global population (an estimated 1.1 billion people) is disabled. The rising number of people with physical disabilities has fueled the expansion of the global medical exoskeleton market. Medical exoskeletons are used to power disabled, injured, or vulnerable people suffering from a variety of medical conditions such as SCI, neuropathy, major trauma such as stroke, and cerebral palsy. These medical exoskeletons are typically used in monitored settings such as hospitals and rehab centres under the supervision of medical professionals.
Data Bridge Market Research analyses that the medical exoskeleton market which is USD 0.31 billion in 2022, is expected to reach USD 6.16 billion by 2030, at a CAGR of 45.3% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Explore Further Details about This Research Medical Exoskeleton Market Report https://www.databridgemarketresearch.com/reports/global-medical-exoskeleton-market
REPORT METRIC | DETAILS |
Forecast Period | 2023 to 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015 - 2020) |
Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
Segments Covered | Component (Hardware, Software), Type (Powered Exoskeleton, Passive Exoskeleton), Mobility (Stationary, Mobile), Extremity (Lower Extremity, Upper Extremity and Full Body) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered | Ekso Bionics (U.S.), ReWalk Robotics (Israel), PARKER HANNIFIN CORP (U.S.), CYBERDYNE INC. (Japan), BIONIK (Canada), Rex Bionics Ltd., (U.K.), B-Temia (Canada), Bioventus (U.S.), Hocoma (Switzerland), Wearable Robotics srl (Italy), ExoAtlet (Luxembourg), Meditouch (Israel), Suit X (U.S.), MarsiBionics (Spain), Rehab-Robotics Company Limited (Hong Kong), Myomo Inc. (U.S.), Focal Meditech (Netherlands), Honda Motor Co., Ltd. (Japan), Wandercraft (France), MEDEXO ROBOTICS (Hong Kong) |
Market Opportunities |
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Market Definition
A medical exoskeleton is a wearable electromechanical device designed to help patients with mobility issues recover from their injuries and motor function in their partially or completely paralysed lower extremities. Orthotics devices, which help people regain their ability to walk or move, are instances of gadgets that can improve biological abilities. This wearable device provides patients with increased mobility, strength, and endurance. Medical exoskeletons help people with physical disabilities such as spinal cord injuries, neurological disorders, paralysis, and the elderly.
Medical Exoskeleton Market Dynamics
Drivers
- Increasing number of orthopaedic surgeries
The rise in the number of orthopaedic surgeries will moderate the rate of growth in the medical exoskeleton market. The rise in orthopaedic surgery is primarily due to knee and hip joint replacement surgeries. Limb amputations have been performed as the number of damages or injuries caused by car accidents or various diseases has increased. A rise in the number of amputation operations in diabetic patients with gangrene has been reported. These are the specific factors that drive market growth.
- Rising demand for effective rehabilitation approaches
The global demand for effective rehabilitation methods, including the use of innovative and cutting-edge technology and products, is increasing. This is viewed as a positive sign for the growth of the medical exoskeleton market in all key regions. As a result, influence market dynamics during the forecast period.
Furthermore, the growing number of people with physical disabilities will have a significant impact on the medical exoskeleton market's growth. The rising geriatric populations and increased access to medical exoskeleton insurance coverage in various countries are driving factors accelerating the growth of the medical exoskeleton market. Furthermore, an increase in the number of traffic accidents, severe injuries, and strokes will boost the market's growth rate.
Opportunities
- Increasing number of people with physical disabilities
According to the United Nations Development Program, developing countries are home to 80% of people with disabilities. Physical disabilities can be caused by a variety of factors, including inherited or genetic disorders, severe illnesses, and injuries. This patient population seeks treatment at rehabilitation clinics and qualified care centres that provide inpatient, outpatient, and therapy-based rehabilitation services. Medical exoskeletons are also highly recommended by doctors for stroke rehabilitation. Acquired brain injuries, spinal cord injury (SCI), spina bifida, cerebral palsy, and muscular dystrophy are examples of physical disabilities. Thus, rising stroke, spinal cord injury, ankle brachial index and Spina bifida cases contribute to the growth of the global medical exoskeleton market.
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