Medical Exoskeleton Market to grow by USD 974.84 million from 2022 to 2027: Increasing usage of medical exoskeletons in rehabilitation will Drive Growth - Technavio

NEW YORK, Jan. 15, 2024 /PRNewswire/ -- Medical Exoskeleton Market Insights -

• Vendors: 15+, Including 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 Corp., Wandercraft, Wearable Robotics Srl, among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Technology (Powered exoskeletons and Passive exoskeletons), Mobility Type (Mobile exoskeleton and Stationary exoskeleton), and Geography (North America, Europe, Asia, and Rest of World (ROW))

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The medical exoskeleton market size is estimated to grow by USD 974.84 million from 2022 to 2027 at a CAGR of 36.43% according to Technavio.

Medical Exoskeleton Market – Market Dynamics

Major Drivers - Increasing usage of medical exoskeletons in rehabilitation is a key factor driving market growth. By increasing the standing and walking time of patients with muscular impairment, mechanical exoskeletons are used in addition to restoration of movement but also for improved exercise. In patients with paraplegia and paralysis, it is used mainly as a rehabilitation device to help them stand up when they lose movement due to reduced function of their brains resulting from the loss of erythropoietic functions or an increased risk for osteoporosis, pressure ulcers, and blood clots.

Segmentation Analysis

The Mobile Exoskeleton segment is significant during the forecast period. Mobile exoskeletons, specialized for homecare, assist spinal cord injury patients by enabling standing, walking, and balance support. Utilizing advanced sensors and controllers, they offer tailored assistance but pose higher complexity and costs compared to stationary exoskeletons.

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The medical exoskeleton market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

Powered exoskeletons are revolutionizing rehabilitation robotics, aiding in SCI and stroke rehabilitation through lower and upper body exoskeletons. These devices facilitate gait training and support for musculoskeletal disorders, merging bionic technology with neurorehabilitation. Prosthetics integration and wearable sensors enhance functionality, while orthotics support physical therapy across demographics, from the geriatric population to pediatric needs. Customizable interfaces, powered by AI and machine learning, adapt to individual biomechanics, benefiting from advances in battery technology and 3D printing.

Adherence to FDA regulations and inclusion in healthcare insurance coverage are crucial for wider adoption. Tele-rehabilitation expands access, while R&D drives patient mobility analysis, benefiting military, veteran, and civilian applications. Assistive technology's growth, intertwined with HCI, raises ethical considerations. Market trends forecast significant growth in the medical exoskeleton sector, propelled by these technological advancements.

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What are the key data covered in this Medical Exoskeleton Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Medical Exoskeleton Market between 2023 and 2027
• Precise estimation of the size of the Medical Exoskeleton Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Medical Exoskeleton Market industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Medical Exoskeleton Market vendors

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Related Reports:

The global exoskeleton market size is estimated to grow by USD 1,851.23 million at a CAGR of 35.98% between 2022 and 2027.

The Wearable Robots and Exoskeletons Market size is estimated to grow at a CAGR of 33.11% between 2022 and 2027 and the size of the market is forecast to increase by USD 4,718.14 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by MobilityType

Market Segmentation by Technology

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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