Medical Exoskeleton Market to grow by USD 974.84 million from 2022 to 2027; North America to account for 41% of market growth- Technavio

NEW YORK, Nov. 24, 2023 /PRNewswire/ — The medical exoskeleton market is expected to grow by USD 974.84 million from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 36.43% during the forecast period, according to Technavio Research. The market is segmented by mobility type (mobile exoskeleton and stationary exoskeleton), technology (powered exoskeletons and passive exoskeletons), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). North America is estimated to contribute 41% to the growth of the global market during the forecast period. Due to recent advances in healthcare facilities, an increasing incidence of injury caused by SCI, and the increased demand for self-supporting exercise machines, the US is North America’s biggest market contributor.

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Company Profile:

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, and Wearable Robotics Srl

Bionik Laboratories Corp. – The company offers medical exoskeletons such as Inmotion robotic therapy.

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Medical Exoskeleton Market: Segmentation Analysis

The market share growth of the mobile exoskeleton segment will be significant during the forecast period. To maintain balance, these devices help patients with spinal cord injury SCI and mobility impairment to stand and walk with crutches or walkers.

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“Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021”- Technavio

Medical Exoskeleton Market: Market Dynamics

Increasing usage of medical exoskeletons in rehabilitation
Increasing incidences of SCIs
Increasing insurance coverage for medical exoskeleton

Key Driver

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.

Major Trend

The launch of technologically advanced products is the key trend in the market. Identify key trends, drivers, and challenges in the market. Download a sample to gain access to this information.

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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 2022 and 2027.
Precise estimation 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 in North America, Europe, Asia, and ROW
A thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of medical exoskeleton market companies.

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 Technavio

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 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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