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Exoskeleton Market Technology Advancements with Prominent Companies like Parker Hannifin, Lockheed Martin Corporation, Cyberdyne, Hocoma, Revision Military, Wandercraft, Honda Motor

02-20-2019 10:44 AM CET | IT, New Media & Software

Press release from: marketstudyreport.com

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Exoskeleton Market

Exoskeleton Market

The newly released research at Market Study Report LLC titled “2018-2024 Global Exoskeleton Market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.

Robotic development companies are using low cost, high strength material to enhance safety of operation in healthcare, industrial and military applications. Increasing funding from defense department of various countries to strengthen arm forces capability will stimulate the industry demand. For instance, in 2016, South Korea defense firms developed exoskeleton systems for Republic of Korea Army (RoKA). These systems are designed to increase soldier?s strength and endurance.

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Exoskeleton Market size is estimated to surpass USD 3.4 billion by 2024; according to a new research report. In 2016, the exoskeleton shipment crossed 2000 units. Increasing use of exoskeleton in rehabilitation for patients will fuel the exoskeleton market growth. These devices reinforce, augment and restore human performance. Increase in the number of orthopedic disorders and rapidly growing elderly population will provide stable growth prospects over the forecast timeline.

North America is anticipated to grow at CAGR of over 48%. This growth is attributed to high demand from healthcare and military applications. Moreover, about 75% of the exo manufacturers are located in this region. The companies work in association with research universities to continue R&D on the product.

Asia Pacific is estimated to cross USD 780 million over the forecast timeframe. The growth can be attributed to increasing spending on healthcare and awareness about industrial robotics in manufacturing sector. China and South Korea are investing heavily in development of wearable robots for defense & security purposes.

The product offer features such as performance assistance, adjustable frame and custom application software. These characteristics provide increased strength, security, and working efficiency for the workers in shipbuilding and heavy machinery industries. Investments in developing products for enhancing physical strength of industrial workers will augment the exoskeleton market size from 2016 to 2024.

Mobile exoskeleton market accounted for highest revenue share of over 61% in 2016 and is estimated to continue its dominance during the study period. The segment growth is credited to increased application in military & industrial segment. Mobile exoskeleton provides mobility to the wearer while augmenting strength to lift heavy load. Stationary products are deployed in rehabilitation centers and hospitals. These products provide fast recovery for the patients suffering from spinal cord injuries and other mobility impairment disorders.

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Lower body exoskeleton acquired more than 60% of total revenue in 2016. These products are used to restore movement of disabled persons. Also, the companies such as Lockheed Martin are investing and developing effective lower body products to enable operation in hostile conditions for security forces. Upper body segment is projected to exhibit highest CAGR of 53% owing to increasing demand in industrial applications such as welding. Full body segment is poised to exhibit growth owing to use in security & defense applications. Revenue for this segment will cross USD 760 million in 2024.

Healthcare sector dominated the overall exoskeleton market size in 2016 and is expected to continue its dominance during the study period. Increasing spending on healthcare, technological advancements to increase safety and stringent government regulation will attribute to the segment growth. Military segment is expected to witness an exponential growth owing to increasing funding from defense departments to develop exosuits for their arm forces. The segment will witness substantial increase in revenue and will acquire more than 26% of the overall industry by 2024.

Some of manufacturers in the exoskeleton market include Bionik Laboratories Corp., 20 Knots Plus, Activelink Co., Ltd., Hocoma, Ekso Bionics, CYBERDYNE, Inc., MedEXO Robotics, Mitsubishi Heavy Industries, Noonee, Fourier Intelligence, Lockheed Martin Corporation, ReWalk Robotics, Parker Hannifin Corporation and Revision Military. The nature of the industry is consolidated with few companies permitted to commercialize the product. Stringent regulations such as FDA is creating high entry barriers for the robotic technology manufacturers.

Table of Content:

Chapter 1 Methodology & Scope

1.1 Research methodology

1.1.1 Initial data exploration

1.1.2 Statistical model and forecast

1.1.3 Industry insights and validation

1.1.4 Definitions

1.1.5 Forecast parameters & considerations

1.2 Data sources

1.2.1 Secondary

1.2.2 Primary

Chapter 2 Executive Summary

2.1 Exoskeleton industry 360 degree synopsis, 2014 - 2026

2.1.1 Business trends

2.1.2 Product trends

2.1.3 Application trends

2.1.4 Technology trends

2.1.5 Regional trends

Chapter 3 Exoskeleton Market Industry Insights

3.1 Industry segmentation

3.2 Industry landscape

3.3 Industry ecosystem analysis

3.3.1 Component suppliers

3.3.2 Manufacturers

3.3.3 Profit margin analysis

3.3.4 Distribution channel analysis

3.3.5 End user

3.3.6 Vendor matrix

3.4 Technology landscape

3.4.1 Thought control in exoskeleton

3.4.2 4D materials for exosuits

3.4.3 Human Universal Load Carrier (HULC)

3.4.4 Functional electrical stimulation (FES)

3.4.5 Structured functional textiles based multi-joint soft exosuit

3.5 Regulatory landscape

3.5.1 North America

3.5.2 Europe

3.5.3 Asia Pacific

3.5.4 Latin America

3.5.5 Middle East & Africa

3.6 Industry impact forces

3.6.1 Growth drivers

3.6.1.1 North America

3.6.1.1.1 High incidence of Parkinson's and other muscle-related diseases

3.6.1.2 Europe

3.6.1.2.1. Ageing population growth and national security requirements

3.6.1.3 Asia Pacific

3.6.1.3.1 Proliferating demand in manufacturing & healthcare

3.6.1.4 Latin America

3.6.1.4.1 Strong emphasis on boosting industrial sector and rising elderly population

3.6.1.5 MEA

3.6.1.5.1 Proliferating construction industry and requirement to improve labor safety

3.6.2 Industry pitfalls & challenges

3.6.2.1 High costs associated with R&D & product acquisition

3.7 Exosuits technology analysis

3.7.1 Growth opportunities

3.7.1.1 Passive exoskeletons in military and industrial applications

3.7.1.2 Semi-passive exoskeleton in industrial and healthcare applications

3.7.1.3 Active exoskeleton in healthcare applications

3.7.2 Profit analysis

3.7.3 Absolute dollar opportunity, 2019 - 2026 (USD Million)

3.8 Innovation & sustainability

3.8.1 Medical rehabilitation soft exoskeleton for the elbow

3.8.2 Machine learning based soft exosuit

3.8.3 Sustainability

3.9 Growth potential analysis, 2018

3.10 Porter's analysis

3.11 Competitive landscape, 2018

3.11.1 Top players overview

3.11.2 Company performance analysis, 2018

3.11.3 Key stake holders

3.11.4 Strategy dashboard

3.12 PESTLE analysis

Chapter 4 Exoskeleton Market, By Product

4.1 Exoskeleton market share by product, 2018 & 2026

4.2 Stationary

4.2.1 Stationary exoskeleton market estimates and forecast, 2014 - 2026, (Units) (USD Million)

4.2.2 Stationary exoskeleton market estimates & forecast, by region, 2014-2026 (Units) (USD Million)

4.3 Mobile

4.3.1 Mobile exoskeleton market estimates and forecast, 2014 - 2026, (Units) (USD Million)

4.3.2 Mobile exoskeleton market estimates & forecast, by region, 2014-2026 (Units) (USD Million)

Chapter 5 Exoskeleton Market, By Application

5.1 Exoskeleton market share by application, 2018 & 2026

For more information on this report at: https://www.marketstudyreport.com/reports/exoskeleton-market/?utm_source=Openpr.com-SP

Related Report:

Global Powered Exoskeleton Industry Market Analysis & Forecast 2018-2023

In the Global Powered Exoskeleton Industry Market Analysis & Forecast 2018-2023, the revenue is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2023, growing at a CAGR of XX% between 2018 and 2023. The production is estimated at XX million in 2017 and is forecasted to reach XX million by the end of 2023, growing at a CAGR of XX% between 2018 and 2023.

https://www.marketstudyreport.com/reports/global-powered-exoskeleton-industry-market-analysis-forecast-2018-2023?utm_source=RR-SP

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