NEW YORK, Jan. 25, 2023 (GLOBE NEWSWIRE) -- "Medical Exoskeleton Market" is the title of a new report from Data Bridge Market Research. Key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive environment are all dissected in detail in the research. In this era of globalization, many businesses highly demand for such international market research reports to support decision-making. According to an all-inclusive XYZ market report, the global market is expected to witness a relatively higher growth rate during the forecast period. Moreover, the report consists of detailed profiles for the Medical Exoskeleton market’s major manufacturers and importers who are influencing the market. The report also estimates the market size, and the revenue generated from the sales and technologies by various application segments. Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out in the superior Medical Exoskeleton market research report.
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.
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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.
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 paralyzed 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.
Opportunities
- An 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.
The report includes six parts, dealing with:
- Basic information
- The Asia Medical Exoskeleton Market
- The North American Medical Exoskeleton Market
- The European Medical Exoskeleton Market
- Market entry and investment feasibility
- The report conclusion
All the research report is made by using two techniques that are Primary and secondary research. There are various dynamic features of the business, like client need and feedback from the customers. Before (company name) curate any report, it has studied in-depth from all dynamic aspects such as industrial structure, application, classification, and definition.
Some of the major players operating in the medical exoskeleton market are:
- 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)
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Recent Development
- In 2021, Ottobock introduced the Paexo Shoulder Jacket, Paexo Thumb Slim, and Paexo Cool Sleeve products at the Hannover Messe Digital Edition 2021 event. These devices provide excellent relaxation to the body during strenuous tasks such as moving heavy packages or performing overhead labour.
- In 2020, Ekso Bionics Holdings Inc., a leading provider of exoskeleton technologies for medical and industrial applications, will launch EVOTM, an upper-body assistance exoskeleton that increases endurance and reduces the strain of repetitive work. EVO is the next step in industrial exoskeleton technology, building on the company's ground-breaking EksoVest technology.
Key Market Segments Covered in Medical Exoskeleton Industry Research
Component
- Hardware
- Sensors
- Actuators
- Pneumatic actuator
- Hydraulic actuator
- Electric actuator
- Mechanical
- Shape memory alloy actuator
- Others
- Power Sources
- Control Systems
- Others
- Software
Type
- Powered Exoskeleton
- Passive Exoskeleton
Mobility
- Stationary
- Mobile
Extremity
- Lower Extremity
- Upper Extremity
- Full Body
Key Industry Drivers:
- An 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.
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Medical Exoskeleton Market Regional Analysis/Insights:
The countries covered in the medical exoskeleton market report are 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.
North America dominates the medical exoskeleton market because the number of elderly people in this area is growing. Additionally, the market's growth rate in this region will be boosted by the rising demand for self-assist exoskeletons.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because stroke is becoming more common in this area.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Medical Exoskeleton Market: Regulations
- Market Overview
- Global Medical Exoskeleton Market, By Component
- Global Medical Exoskeleton Market, By Type
- Global Medical Exoskeleton Market, By Mobility
- Global Medical Exoskeleton Market, By Extremity
- Global Medical Exoskeleton Market, By Region
- Global Medical Exoskeleton Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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