Global Exoskeleton market is expected to reach ~USD 2500 Mn by 2028F: Ken Research
Global Exoskeleton Market By Geography
The Global Exoskeleton market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
North America accounted for the largest market share among all regions within the total Global Exoskeleton Market in 2022.
The growth is primarily due to the increase in disability issues in individuals as well as continuous spending on research & development for the exoskeleton.
In August 2018, the Centers for disease control and prevention which is the public health agency of the U. S that serves under the U.S department of health and human services stated that in one of four U.S Adults i.e., around 61 million Americans suffer from a disability that majorly impacts their life activities.
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Competition Scenario In Global Exoskeleton Market
The Global Exoskeleton Market is highly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Exoskeleton manufacturing. Large global players constitute ~20% of competitors, while country-niche players represent ~45% of competitors. Most of these country players include component manufacturers and assembling companies. Some of the major players in the market include Ekso Bionics Holdings, ReWalk Robotics, Cyberdyne Inc., Rex Bionics Ltd., Sarcos, Lockheed Martin Corporation, B-Temia, Ottobock, DIH Medical, Medi-Touch, and among others.
What Is The Expected Future Outlook For The Overall Global Exoskeleton Market Across The Globe?
The Global Exoskeleton market was valued at USD ~billion in 2022 and is anticipated to reach USD ~2.5 billion by the end of 2030, witnessing a CAGR of ~% during the forecast period 2022-2030. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Exoskeleton market is driven by adoption of the exoskeleton in the healthcare sector for robotic rehabilitation. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaboration and emergence of new products, the Global Exoskeleton market is changing rapidly. For instance, In February 2022, CYBERDYNE Inc. received its marketing license approved by the Ministry of Health Republic of Indonesia, for Medical HAL Single Joint Type which is a “Wearable Cyborg” for the upper body exoskeleton that improves the physical function of the user.
In September 2020, Sarcos Robotics raised US$ 40 Million in Funding, the funding is likely to be used for the production of Guardian XO which is an industrial exoskeleton that is going to be the world’s first full-body, battery-powered Exoskeleton with enhanced strength and endurance.
The Global Exoskeleton Market is forecasted to grow exponentially with a CAGR of ~20% during the forecast period primarily driven by the adoption of the exoskeleton in the healthcare sector for robotic rehabilitation. Though the market is highly competitive with ~ 100 participants, few global players control the dominant share and country-niche players also hold a significant share. North America is the dominating region, owing to the High Purchasing power of the Users.
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Key Topics Covered in the Report
- Snapshot of Global Exoskeleton Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Exoskeleton Market
- Historic Growth of the Overall Global Exoskeleton Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Exoskeleton Industry
- Overview, Product Offerings, and Strategic Developments of Key Competitors
- COVID-19 Impact on the Overall Global Exoskeleton Market
- Future Market Forecast and Growth Rates of the Total Global Exoskeleton Market and by Segments
- Market Size of Mobility/End-user Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Exoskeleton Market
- Major Production/Supply and Consumption/Demand Hubs within Each Major Country
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
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Notable Emerging Companies Mentioned in the Report
- Fourier Intelligence
- Seismic
- ROAM Robotics
- Trexo Robotics
- Bionic Yantra
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Exoskeleton Manufacturers
- Exoskeleton Raw Material Suppliers
- Exoskeleton Products Manufacturers
- Government Ministries of health and rehabilitation
- Government Ministries of Defense
- Exoskeleton Industry Association
- Exoskeleton Companies
- Venture Capitalists Targeting Exoskeleton Industry
Time Period Captured in the Report
- Historical Period: 2019-2021
- Forecast Period: 2022E-2030F
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