Selbyville, Delaware, June 08, 2022 (GLOBE NEWSWIRE) --
Exoskeleton Market is projected to surpass USD 5 billion by 2030, according to the latest research analysis by Global Market Insights Inc. The market growth is credited to the growing cases of Parkinson’s diseases across the globe.
The demand for semi-passive exosuits is driven by their increasing adoption in the healthcare sector. They offer several high-end features compared to passive & active technology such as joint angle sensors for measuring body flexion, energy efficiency, and novel active mechanism, among others. Semi-passive exosuits are ideal for patients with mobility impairments as they use a motor to change the assistance force between springs to reduce muscle activity.
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The military & defense segment growth is attributed to the rising usage of exosuit in defense to cover the arms and legs of the soldiers. They also assist soldiers to go an extra mile while carrying mission-essential equipment, by reducing efforts in climbing, lifting, and walking. The increasing acceptance of military exosuits in Canada, the U.S., China, and Germany is expected to boost the market during the forecast period.
The Europe exoskeleton market is witnessing an upsurge due to the increasing advancements in construction, aerospace, and other sectors. Several market participants in the region are focusing on developing industry-specific exosuits to gain a competitive edge. The continuous advancement in exosuits in the industrial sector will further propel the regional growth.
Market players are proactively focusing on new product development to gain a competitive advantage in the market. For instance, in May 2021, Noonee, an industrial machinery manufacturing company based in Germany, launched the chairless chair 2.0 for various industrial purposes. This chair provides mobility, flexibility, and individual setting and supports sitting posture during work activities.
Some major findings of the exoskeleton market report include:
- Rising advancements in active and semi-passive technology are one of the primary factors influencing the exosuit demand. Several companies are focusing on developing innovative solutions for exoskeletons.
- The espousal of AI and IoT-integrated exoskeletons worldwide will bolster the industry scenario. In addition, the demand for industrial exosuits will positively support the global market.
- The COVID-19 outbreak had a significant impact on the exoskeleton market. Relaxation on the import and export of raw materials will enhance the market landscape post-COVID-19.
- The regional governments in North America and Asia Pacific are focusing on extensive investments and initiatives for the military sector growth is fueling the exoskeleton market demand.
- Some of the major players operating in the exoskeleton industry include REX Bionics, SRI International, ReWalk Robotics, and Revision Military, among others.
- The companies in the marketplace are continuously focusing on research & development activities for the development of new product launches.
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Partial Table of Contents (ToC) of the report
Chapter 2 Executive Summary
2.1 Exoskeleton industry 360° synopsis, 2018 – 2030
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Technology trends
2.1.5 Application trends
Chapter 3 Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.3 Industry ecosystem analysis
3.4 Impact of Ukraine- Russia war
3.5 Technology & innovation landscape
3.6 Regulatory landscape
3.7 Investment portfolio
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 The growing population of aging individuals across the globe
3.8.1.2 Growing cases of Parkinson’s and other muscle-related diseases
3.8.1.3 Technological advancements in sensor technologies providing expanded capabilities to robotic exoskeleton
3.8.1.4 Upsurge in military and defense robotic exoskeletons to drive demand
3.8.1.5 Rising road accidents in North America to propel the demand for exoskeletons
3.8.2 Industry pitfalls & challenges
3.8.2.1 High costs associated with R&D & product acquisition
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/exoskeleton-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
