The global exoskeleton market to reach USD 8.21 billion by 2028 at a CAGR of 43.4%, according to the latest report by Reports and Data. Rising number of body movement disorders like Parkinson’s, strokes, paralysis, spinal cord disorders, is a major factor expected to drive market revenue growth over the forecast period. In addition, growing health awareness, advancement in healthcare industry, innovation in technology, and growth in Artificial Intelligence (AI) and robotics, are some of the factors contributing to the market revenue growth. Increasing demand and adoption of exoskeletons from non-healthcare industries like military & defense, is further drives the market growth.
Exoskeletons are externally wearable, electromechanical devices which provides support to human body. They are used to accelerate, and strengthen body movements. Growing demand of customized exoskeletons according to the patient’s requirements also propel market growth. Exoskeletons are extremely useful for the patients with disabilities, paralysis, severe neurological conditions, and complex mobility issues. Increasing production of innovative exoskeletons used in various industries, is one of the key factors expected to boost market revenue growth over the forecast period.
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Some of the key players operating in the Exoskeleton market include:
Lockheed Martin Corporation, ReWalk Robotics, Parker Hannifin, REX Bionics, Ekso Bionics, ATOUN Inc., Cyberdyne, Hocoma, Wandercraft, Revision Military, and Honda Motor Co. Ltd
Segments covered in the report:
On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.
Mobility Type Outlook (Revenue, USD Million; 2017-2027)
- Mobile Exoskeleton
- Stationary Exoskeleton
End-User Outlook (Revenue, USD Million; 2017-2027)
- Healthcare
- Industrial
- Military & Defense
- Others
Type Outlook (Revenue, USD Million; 2017-2027)
- Powered
- Passive
Technology Outlook (Revenue, USD Million; 2017-2027)
- Electric Actuator
- Fuel Cell
- Pneumatic Actuator
- Hydraulic
- Electric Servo
- Shape Memory Alloy Actuator
Anatomy Outlook (Revenue, USD Million; 2017-2027)
- Lower Body
- Full Body
- Upper Body
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Beneficial Aspects of the Report:
- Global and region forecast of the Exoskeleton market from 2020-2027
- In-depth analysis of market dynamics, industry outlook, market size based on types and applications
- Details of value chain analysis, supply and demand ratio, production and consumption patterns
- SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
- Detailed insights on competitive landscape and emerging market trends
Research Methodology:
The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.
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