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Exoskeletons Market Growth Outlook 2026 By Top Key Players - Ekso Bionics, Hyundai Motor Company, Lockheed Martin, Parker Hannifin, ReWalk Robotics, Inc., Rex Bionics, SRI International, Hocoma AG

01-23-2019 06:32 AM CET | Health & Medicine

Press release from: Electronics and Media Industry

Exoskeletons Market

Exoskeletons Market

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.

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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.

Key Companies - Global Exoskeletons Market: -
• 20 KNOTS PLUS LTD
• ActiveLink
• BIONIK Laboratories Corp.
• Cyberdyne Inc.
• Ekso Bionics
• GOGOA Mobility Robots
• Hocoma AG
• Honda Motor Co., Ltd.
• Hyundai Motor Company
• Lockheed Martin
• noonee
• Parker Hannifin
• Revision Military
• ReWalk Robotics, Inc.
• Rex Bionics
• Sarcos Robotics
• SRI International
• Technaid S.L.
• US Bionics
• Wandercraft

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.

Active exoskeletons market size will witness highest growth owing to considerable requirement from industrial field coupled with technological advancement including fusion of man, machine, and information. For instance, Cyberdyne, Inc. developed Hybrid Assistive Limb (HAL) product for the usage of operations in nuclear power plants. 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.

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.

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Major industry participants in the exoskeletons market share include Ekso Bionics, CYBERDYNE INC., ReWalk Robotics, and Rex Bionics Ltd. Collaboration with medical and defense research institutes are among the prominent strategies adopted by the industry participants to develop new products and increase their market share.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology

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