WASHINGTON, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Global Exoskeleton Market was valued at USD 400 Million in 2021 and is expected to reach USD 3350 Million by 2029, registering a CAGR of 42.1% during the forecast period of 2022-2029. The market report curated by the Vantage team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Vantage Market research has newly released expansive study titled Exoskeleton Market guarantees you will remain better informed than your competition. This study provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. The Exoskeleton market study provides information and insights into the Exoskeleton market, supported by a SWOT analysis. This study analyses the market for Exoskeleton products, analysing the factors that are driving this market, limiting this market, posing challenges, offering opportunities, and shaping significant trends. The Exoskeleton report equips you with in-depth knowledge and information about the ever-evolving market landscape, the current state of the market, anticipated future trends or market expectations, the competitive landscape, and the strategies of your main rivals, all of which will help you plan your own strategies to succeed where they have failed. The Exoskeleton market report was created with the client's needs in mind to maximize the client's return on investment.
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Market Synopsis
The rising prevalence of stroke and the rising usage and adoption of exoskeletons in several sectors, including military, automobile, and construction are the determinants contributing to the boost in the exoskeletons adoption.
What is Exoskeleton? How Big is Exoskeleton Market Size?
Market Dynamics:
Restraint: Regulatory Challenges for Medical Uses of Exoskeletons for Securing Approvals
Device reliability and User safety are the key concerns in the regulation and development of medical devices. Manufacturers’ expertise and skills related to technical designing which matters during the product testing. Malfunctioning in the medical device may lead to life-threatening situations, hence, exoskeletons made for healthcare applications must be examined thoroughly. Currently, there are certain standards which are applicable directly to the exoskeleton market. The FDA identifies ISO standards which are applicable to relevant sectors, and only items that receive these regulatory approvals must be sold in the market.
Opportunity: Increasing Acceptance of People’s augmentation equipment in Military and Industrial Sectors
Research has resulted in the conversion of load systems into new human augmentation equipment. These exoskeleton systems can load carrying, improve powerlifting, and endurance functions; the Exoskeleton market has received a number of funding from the defence department of several countries. Furthermore, the exoskeletons market is exhibiting a growth outlook, coupled with increasing awareness about devices in different areas, is attracting more investments in the sector—especially from private VCs. Various exoskeletons manufactured to date are tested and designed effectively for mechanical structure and support soldiers in main body strength augmentation.
List Of Prominent Players in the Exoskeleton Market:
- REkso Bionics
- Hocoma
- Lockheed Martin Corporation
- Suit X (U.S. Bionics, Inc.)
- Rex Bionics Plc.
- RB3D
- ReWalk Robotics Ltd
- Cyberdyne, Inc.
- Active Link (Panasonic Corporation)
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Regional Trends
North America accounted for the largest market share. This is owing to the increasing disabled populace, high expenditure on research in the healthcare industry by private firms, government agencies, availability of medical devices which are technologically advanced, and a boost in collaborations in the industry.
Recent Developments
- April, 2021: Ottobock launched the Paexo Shoulder Jacket, Paexo Cool Sleeve, and Paexo Thumb Slim at the Hannover Messe Digital Edition 2021 event. These devices provide significant relief for the body during strenuous activities such as overhead work or lifting packages.
- March, 2021: CYBERDYNE received medical device approval from Thai Food and Medical Products Approval Authority (Thai FDA) for HAL Single Joint Type. The product is for patients with reduced mobility in the upper and lower limbs due to muscle weakness or paralysis.
- March, 2021: DIH entered into a strategic partnership agreement with Reha Technology. Under this agreement, DIH agreed to take over the distribution of Reha Technology’s robotics products and promote and distribute Reha Technology´s end-effector-based gait therapy devices in key markets such as Switzerland, Germany, and the US.
- March, 2021: Ekso Bionics announced a partnership with US Physiatry (USP) to educate physicians on the clinical benefits of an EksoNR exoskeleton. USP is the largest in-patient physician practice in the US, focused exclusively on physical medicine and rehabilitation.
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Segments Covered:
By Product: Stationery, Mobile
By Application: Healthcare, Military, Industry
By Technology: Powered, Non-powered
By Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Browse market data Tables and Figures spread through 162 Pages and in-depth TOC on Exoskeleton market Forecast Report (2022-2028).
The report on Exoskeleton Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Some of The Key Questions from Our Customers Are:
- Which are the top companies in the market?
- How will the market change in the next years?
- What are the drivers and restraints of the market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the market throughout the forecast period?
- Which area offers the most significant benefit for the world market?
- What are the threats to business and the impact of the current scenario on growth and market perception?
- What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 400 Million |
| Revenue Forecast by 2028 | USD 3350 Million |
| CAGR | 42.1% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | REkso Bionics, Hocoma, Lockheed Martin Corporation, Suit X (U.S. Bionics Inc.), Rex Bionics Plc., RB3D; ReWalk Robotics Ltd, Cyberdyne Inc., Active Link (Panasonic Corporation) |
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The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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