Exoskeleton, once confined to the realm of science fiction, have emerged as a remarkable technological advancement that empowers the human body in unprecedented ways. These external mechanical frameworks, resembling the armor of comic book superheroes, enhance the physical capabilities of their wearers, enabling them to achieve extraordinary feats.
Exoskeleton have found a myriad of applications across diverse fields. In healthcare, they assist patients with mobility impairments, allowing them to regain independence and walk again. These bionic suits alleviate physical strain on workers in industries such as manufacturing and construction, reducing injuries and improving productivity. In the military, exoskeletons enhance soldiers' strength and endurance, revolutionizing combat strategies and protecting lives.
These marvels of engineering offer not only physical assistance but also psychological empowerment. Exoskeleton users experience a renewed sense of self-confidence, defying their physical limitations and embracing newfound abilities. With ongoing advancements in materials science, artificial intelligence, and robotics, exoskeleton technology will undoubtedly evolve further, reaching new heights of functionality, comfort, and integration with the human body.
As we delve deeper into the wonders of Exoskeleton, we unravel the incredible potential they hold in reshaping the boundaries of human capability, making once-impossible feats achievable and enabling individuals to embrace the full extent of their potential.
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In terms of value, the global wearable robotic exoskeleton market accounted for $127.4 million in the year 2017 and is projected to reach $5,438.1 million by 2028, growing at a CAGR of 43.48%.
Active (powered) robotic exoskeletons contributed the largest share to the wearable robotic exoskeleton market with 86.78% share of the overall market in 2017.
Major companies such as Cyberdyne Inc., Ekso Bionics Holdings, Inc., Parker Hannifin Corporation, Rex Bionics PLC, and ReWalk Robotics Ltd., among others are efficiently developing active robotic exoskeletons, widely being utilized in the healthcare industry, followed by industrial, commercial, and defense sectors.
Moreover, active robotic exoskeletons have high prices as compared to their passive counterparts as the development of active exoskeleton involves high cost of sensors, electric motors, and batteries.The healthcare end user is one of the major contributors to the active exoskeleton market in 2017, which accounted for about 93.85% of the total share due to higher adoption of active exoskeletons for rehabilitation purpose.
Driven by the higher adoption of powered exoskeleton suit for reducing the stress and increasing the safety of the workers and military people working in hazardous regions, industrial and defense industries are expected to witness a high growth rate in the market, i.e., 54.42% and 55.66%, respectively during the period 2018-2028.
However, the industrial segment is anticipated to emerge as a dominant end user in terms of volume by 2028 with the highest number of exosuits.
