Press release
Exoskeleton Market is Growing at A CAGR of 41.5% up to 2026 Focusing on Key Players like Ekso Bionics, Hocoma AG, Hyundai Motor Company, Lockheed Martin, Parker Hannifin, ReWalk Robotics, Inc., Rex Bionics and SRI International
Exoskeleton Market
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Healthcare application segment will hold dominant Exoskeleton 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.
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 Exoskeleton market growth.
The leading players in the Exoskeleton Market: -
• BIONIK Laboratories Corp.
• Cyberdyne Inc.
• Ekso Bionics
• Hocoma AG
• Honda Motor Co., Ltd.
• Hyundai Motor Company
• Lockheed Martin
• Parker Hannifin
• Revision Military
• ReWalk Robotics, Inc.
• Rex Bionics
• Sarcos Robotics
• SRI International
• Wandercraft
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Based on product, mobile Exoskeleton 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.
Active Exoskeleton market size will witness highest growth owing to considerable requirement from industrial field coupled with technological advancement including fusion of man, machine, and information. Additionally, advantages associated with powered systems such as increased power output, strengthened support, and effective performance in enabling the human mobility will further support the segment growth.
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.
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Asia Pacific Exoskeleton market will witness highest CAGR over the forecast period due to the high number of research and development initiatives by Japan, South Korea, and China in medical and military sectors. Additionally, China Shipbuilding Industry have deployed Exoskeleton for shipyard workers, and military engineers have developed L-70 for their armed forces applications.
In an effort 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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