Medical Exoskeleton Market to grow by USD 2.87 Billion from 2024-2028, driven by rising SCI incidences, with AI transforming the market landscape - Technavio

NEW YORK, Nov. 27, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global medical exoskeleton market size is estimated to grow by USD 2.87 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 55.77% during the forecast period. Increasing incidences of SCIs is driving market growth, with a trend towards launch of technologically advanced products. However, well-trained caregivers requirement poses a challenge. Key market players include Bionik Laboratories Corp., B Temia, Cyberdyne Inc., DIH Group, Ekso Bionics Holdings Inc., Exoatlet Global SA, Focal Meditech, GOGOA Mobility Robots SL, Honda Motor Co. Ltd., Marsi Bionics SL, MYOMO INC., Ottobock SE and Co. KGaA, P and S Mechanics Co. Ltd., Parker Hannifin Corp., Rehab Robotics Co. Ltd., ReWalk Robotics Ltd., Rex Bionics Ltd., Sarcos Technology and Robotics Corp., Wandercraft, and Wearable Robotics Srl.

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Key Market Trends Fueling Growth

Medical exoskeletons are assistive devices gaining popularity in rehabilitation approaches for individuals with Stroke, severe musculoskeletal injuries, and neurological disorders like spinal cord injuries (SCI), neuropathy, cerebral palsy, and multiple sclerosis. Companies like Ekso Bionics and ReWalk Robotics lead the market with self-assist exoskeletons. FDA regulations and ISO standards ensure quality in this field. Rehabilitation centers use these devices to improve mobility for lower and upper extremities, enhancing neuroplasticity and motor impairments recovery. Forms include shoulder jackets, thumb slim, cool sleeves, and full-body exoskeletons. Exoskeletons aid in mobility, replacing or complementing traditional devices like wheelchairs, crutches, and walkers. Actuation technologies, sensors, motors, and power sources are key components. Industrial applications include work-related accidents prevention in industries like aircraft manufacture, shipyards, and factories. Cloud computing, deep learning, and artificial intelligence enhance these devices' functionality and return on investment. Companies like BIONIK, B-Temia, Bioventus, Hocoma, Wearable Robotics srl, ExoAtlet, Meditouch, Suit X, MarsiBionics, Focal Meditech, Wandercraft, MEDEXO ROBOTICS, EksoVest, EVOTM, and various others contribute to this growing market. These devices improve quality of life for users, addressing various musculoskeletal and cardiovascular disorders. 

The medical exoskeleton market is witnessing significant advancements with vendors introducing lighter and more user-friendly devices. Notable launches include SUITX by Ottobock's IX BACK AIR exoskeleton in October 2023 and German Bionic's nursing and healthcare professional exoskeleton in August 2023. These products boast design enhancements, greater adjustability, improved durability, and one-handed controls. Technologically advanced offerings will fuel market expansion throughout the forecast period. 

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Market Challenges

• Medical exoskeletons are assistive devices designed to enhance mobility for individuals with various conditions such as stroke, severe musculoskeletal injuries, and neurological disorders including spinal cord injuries (SCI), neuropathy, and cerebral palsy. Rehabilitation approaches using these devices aim to improve neuroplasticity and restore function. FDA regulations and ISO standards ensure safety and effectiveness. Companies like Ekso Bionics, ReWalk Robotics, BIONIK, B-Temia, Bioventus, Hocoma, Wearable Robotics srl, ExoAtlet, Meditouch, Suit X, MarsiBionics, Focal Meditech, Wandercraft, MEDEXO ROBOTICS, EksoVest, EVOTM, Shoulder Jacket, Thumb Slim, Cool Sleeve, and others offer solutions for upper and lower extremity rehabilitation. These devices can benefit those with motor impairments due to SCI, multiple sclerosis, strokes, and other neurological disorders. Actuation technologies, sensors, motors, power sources, and control strategies are key components. Exoskeletons can also be used as industrial safety equipment in industries like construction, aircraft manufacture, shipyards, and factories. The use of cloud computing, deep learning, smart sensors, and artificial intelligence can improve the return on investment for these devices. Forms of exoskeletons include self-assist and rehabilitation tools for home settings. Additionally, these devices can assist able-bodied users in workplaces, and can benefit those with cardiovascular and metabolic disorders. Work-related accidents and workplace safety are also areas where these devices can make a significant impact.
• In the medical field, exoskeletons are increasingly being used to aid individuals with spinal cord injuries (SCIs) and locomotion impairments in hospital settings, rehabilitation centers, and home-care environments. However, the availability of adequately trained caregivers to assist with exoskeleton ambulation remains a challenge. Insufficient human resources, inconsistent training curricula and accreditation guidelines, and inadequate coordination between patients and caregivers during exoskeleton use are significant barriers. Improper commands, incorrect strap fastening, or failure to support patients during loss of balance can result in injuries, fractures, and falls. To mitigate these risks, it is crucial to prioritize the standardization of caregiver training programs and ensure effective communication between patients and caregivers during exoskeleton use.

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Segment Overview

This medical exoskeleton market report extensively covers market segmentation by

1. Mobility Type
• 1.1 Mobile exoskeleton
• 1.2 Stationary exoskeleton
2. Technology 
• 2.1 Powered exoskeletons
• 2.2 Passive exoskeletons
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Mobile exoskeleton- Mobile exoskeletons are wearable devices designed for homecare settings to aid individuals with spinal cord injuries (SCIs) and mobility impairments. These devices facilitate powered knee or hip motion, enabling users to walk with crutches or a walker, thereby maintaining balance. Advanced mobile exoskeletons, such as ekso NR by Esko Bionics and ReWalk Personal 6.0 by ReWalk Robotics, use sophisticated controllers and sensors to determine and facilitate ambulation. Customizable to individual requirements, these devices are complex and expensive, necessitating a battery pack, lightweight motors, and controllers, all compactly integrated. Research and development efforts focus on enhancing adaptive motion control and human-robot interaction control, driving market expansion. For instance, Cyberdyne's HAL FOR MEDICAL USE (LOWER LIMB TYPE) HAL-MLOF Series is controlled by the patient's bio-electric signals, assisting movements like walking, standing, or sitting. In October 2022, a research team at Stanford University, funded by the National Institutes of Health, developed an exoskeleton that adapts to users during normal walking activities, eliminating the need for lab data collection. The increasing adoption of homecare medical settings will fuel the growth of mobile exoskeletons in the global medical exoskeleton market.

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Research Analysis

Medical exoskeletons are advanced assistive devices designed to enhance mobility and support individuals with various neurological disorders, including stroke, spinal cord injury (SCI), cerebral palsy, and neuropathy. These wearable robotic systems provide an alternative to traditional rehabilitation approaches, such as wheelchairs, crutches, and walkers, by enabling users to stand, walk, and perform functional tasks. The medical exoskeleton market is subject to stringent regulations set by organizations like the FDA and ISO, ensuring the devices meet safety and quality standards. Companies like Ekso Bionics, BIONIK, B-Temia, Bioventus, Hocoma, Wearable Robotics srl, ExoAtlet, Meditouch, and others are pioneering innovative solutions to improve mobility and enhance quality of life for individuals with neurological disorders. Medical exoskeletons offer a promising future for rehabilitation centers and individuals, providing a more natural and effective means of rehabilitation and recovery.

Market Research Overview

Medical exoskeletons are innovative assistive devices designed to enhance human mobility and motor function, particularly for individuals with musculoskeletal injuries, neurological disorders such as stroke, spinal cord injuries (SCI), cerebral palsy, and neuropathy. These rehabilitation tools come in various forms, including self-assist exoskeletons for upper and lower extremities. FDA regulations and ISO standards ensure their safety and efficacy. Rehabilitation centers and healthcare providers increasingly incorporate medical exoskeletons into their approaches, complementing traditional rehabilitation devices like wheelchairs, crutches, and walkers. These advanced technologies can improve mobility and quality of life for users, including those with motor impairments from conditions like multiple sclerosis, strokes, and neuroplasticity disorders. Exoskeletons employ sensors, motors, power sources, and control strategies to mimic natural human movement. Actuation technologies and smart sensors enable real-time adjustments and interaction with the user's body. Advanced technologies like cloud computing, deep learning, and artificial intelligence further enhance their capabilities. Exoskeletons find applications in industries like aircraft manufacture, shipyards, factories, and foundries, improving workplace safety and productivity for frontline workers. Additionally, they offer potential benefits for able-bodied users in home settings and for individuals with cardiovascular and metabolic disorders. Key players in the medical exoskeleton market include Ekso Bionics, ReWalk Robotics, BIONIK, B-Temia, Bioventus, Hocoma, Wearable Robotics srl, ExoAtlet, Meditouch, Suit X, MarsiBionics, Focal Meditech, Wandercraft, MEDEXO ROBOTICS, EksoVest, EVOTM, Shoulder Jacket, Thumb Slim, Cool Sleeve, and various other companies. These companies are dedicated to advancing exoskeleton technology and expanding their applications to address diverse user needs.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Mobility Type
• Mobile Exoskeleton
• Stationary Exoskeleton
• Technology
• Powered Exoskeletons
• Passive Exoskeletons
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio