Exoskeletons Market Analysis 2019 - 2026 by Growth Dynamics Vendors - Ekso Bionics, Hyundai Motor Company, Lockheed Martin, Parker Hannifin, SRI International, ReWalk Robotics, Inc., Rex Bionics and Hocoma AG

Exoskeletons Market size is estimated to exceed USD 3.5 billion by 2026. Increasing incident rates of stroke, spinal cord injury (SCI), or other diseases coupled with the growing number of accidents will drive the overall patient number suffering from mobility disorders. Over 15 million people are paralyzed and unable to walk, that in turn will provide strong growth opportunities for the exoskeletons market size. Research and development projects to reduce the overall costs and enhance its applications in military, industrial and recreational sectors will further support the industry expansion through 2026.

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Some of the Key Manufacturers in The Exoskeleton Market: -

1. 20 KNOTS PLUS LTD
2. ActiveLink
3. BIONIK Laboratories Corp.
4. Cyberdyne Inc.
5. Ekso Bionics
6. GOGOA Mobility Robots
7. Hocoma AG
8. Honda Motor Co., Ltd.
9. Hyundai Motor Company
10. Lockheed Martin
11. noonee
12. Parker Hannifin
13. Revision Military
14. ReWalk Robotics, Inc.
15. Rex Bionics
16. Sarcos Robotics
17. SRI International
18. Technaid S.L.
19. US Bionics
20. Wandercraft

Industrial manufacturing and process participants are focusing on deploying assistive systems that can reduce work related injuries, medical expenses, improve work efficiency and lower work fatigue. Industrial exosuits are specifically designed to leverage the utilization of systems in robust applications, will inadvertently fuel the exoskeletons market growth. For instance, in August 2018, Esko Bionics and Ford developed EksoVest that was deployed in Ford assembly line. It supports a worker’s arms for tasks that involve working from chest height to overhead.

Strategic collaboration between industry participants and research institutions to develop innovative solutions will further propel the exoskeletons market size over the forecast period. For instance, in September 2018 Lockheed Martin Corporation invest in 12-month partnership with Institute for Intelligent Systems Research (IISRI) of Deakin University to expand the functionality of FORTIS. It is featured with lightweight and designed to reduce worker’s fatigue and improve safety.

Based on product, mobile exoskeletons market revenue share is expected to witness highest growth over the forecast timeframe. Technological advancement in products and reduction in cost supported by smaller and powerful motors, inexpensive gyroscope and accelerometer provide the users with the required ease of mobility. Additionally, increasing usage in rehabilitation from stroke, and other physical disabilities will support the segment growth.

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Healthcare application segment will hold dominant exoskeletons market share through the forecast period. Growing rehabilitation requirement for disorders that include Parkinson’s disease, gait disorders and spinal cord injuries are expected to drive the system deployment in healthcare centers. Chief benefits offered to heath care providers include reduced burden on therapists to support during training and improved therapy results.

U.S. exoskeleton market is expected to hold dominant industry share through the forecast period. It can be attributed to the high adoption rates in conjunction with the significant presence of major industry players including ReWalk, Ekso Bionics, and Lockheed Martin. Rising military spending on the development of innovative equipment to strengthen the armed forces capability will drive the product demand. In June 2018, the U.S. Army Natick Soldier Research, Development, and Engineering Center developed ONYX to lighten the combat load. Additionally, rising demand from clinics and rehabilitation centers will ensure their dominance over the forecast period.

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To bring exoskeleton industry to the mainstream arena, renowned firms along the likes of Ekso Bionic, Panasonic, ReWalk, Lockheed Martin, Cyberdyne, and REX Bionic have been attempting to generate a portfolio of extensively innovative products that may rapidly make inroads into the industrial, healthcare, and military sectors. In consequence, this would culminate into robust product sales and popularity, thereby augmenting the profitability landscape of exoskeleton market to quite an appreciable frontier in the many years to come.

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