Press release
Global Powered Exoskeleton to witness remarkable growth by 2022 :Top Keyplayers are Lockheed Martin. ,Cyberdyne. ,Ekso Bionics. ,ReWalk Robotics. ,Parker Hannafin
The global powered exoskeleton market is projected to reach USD X billion in 2022, up from about USD X billion in 2017, growing at a CAGR of X% during the forecast period 2017-2022. This high growth can be attributed to the usage of powered exoskeletons in medical treatment, recent technological advancements, and an increasing demand from emerging markets. As the medical and the military industries are where most of the applications of powered exoskeletons exist, these industries hold the key to the future of this market. While the powered exoskeletons meant for military use are not yet deployed on a wide scale, some companies have created prototypes ready for mass production. Meanwhile, in the medical industry, an increasing prevalence of nervous system trauma will drive the powered exoskeleton market forward in the future.
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MARKET DYNAMICS
Market drivers:
Evolution of batteries which are allowing powered exoskeleton usage for extended periods of time.
Lightweight structural materialsare being used,which aids smooth movement.
A rise in the number of orthopedic disorders.
Market Restraints:
The actual weight of these exoskeletons despite the use of lightweight structural materials.
The cost of these exoskeletons is very high.
Most insurance companies arenot willing to cover their clients for exoskeletons. This restraint makes itself more apparent in developing countries.
Market Segmentation:
The global powered exoskeleton market can be segmented on the basis of:
1. Body Type:On the basis of body type, the powered exoskeleton market can be segmented into Lower Body, Upper Body, and Full Body Exoskeletons.
2. End User: On the basis of an end user, the global powered exoskeleton market can be segmented into Industrial, Commercial, Military, and Medical. The Healthcare segment has accounted for the major revenue share among these four segments. This is due to high demand from rehabilitation, elderly care services, and assisted living across the U.S., Japan, Germany, and Canada. However, the Industrial segment is expected to grow at the fastest rate over the forecast period due to the rise in average work-force age and work related spinal-cord injuries.
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Geographical Analysis:
On the basis of geography, the global powered exoskeleton market can be segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa.
North America: The North American region holds the largest market share in terms of value, followed by Europe. The reason behind this is the significant contribution to this market by U.S.A. agencies such as D.A.R.P.A., N.A.S.A., and National Institute of Health. This contribution has been in the form of research funding, technology development, and the commercialization of these devices.
Asia-Pacific: The Asia-Pacific regional market is expected to grow at the highest rate among all regional markets in the forecast period. This is mainly due to Japan where there are strong technological advancements and a higher usage of service and medical robots for varied applications. Also, China is expected to further boost this market in the future due to its aging population.
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Key Players:
Lockheed Martin.
Cyberdyne.
Ekso Bionics.
ReWalk Robotics.
Parker Hannafin.
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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