Press release
Exoskeleton Market | Key Players Operating in the Market Include BIONIK Laboratories Corp., Cyberdyne Inc., Ekso Bionics, Hocoma AG, Hyundai Motor Company, Parker Hannifin, Revision Military, ReWalk Robotics, Inc., Rex Bionics, SRI International
Exoskeleton Market
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Exoskeleton are classified under class II by Food and Drug Administration (FDA) that requires close application monitoring by regulatory authorities. Extensive clinical trials and approvals are required to demonstrate their safety in medical and personal mobility. Lengthy ethical approval procedures, complex patients’ requirement, and clinical uptake are required prior to product commercialization. These factors will inadvertently boost the consumer confidence in the products and thereby augment the exoskeleton market over the forecast timeframe.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• BIONIK Laboratories Corp.
• Cyberdyne Inc.
• Ekso Bionics
• Hocoma AG
• Hyundai Motor Company
• Lockheed Martin
• Parker Hannifin
• Revision Military
• ReWalk Robotics, Inc.
• Rex Bionics
• Sarcos Robotics
• SRI International
• Wandercraft
Exoskeleton Market, By Product
• Stationary
• Mobile
Exoskeleton Market, By Technology
• Passive
• Semi-passive
• Active
Exoskeleton Market, By Application
• Healthcare
• Industrial
• Military
• Others
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. 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.
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Limitations associated with existing systems that include affordability, weight, size, speed, and efficiency, are projected to hamper the exoskeleton market share over the forecast timeframe. Researchers are working for the development of lightweight, affordable, and easy to use systems, to overcome limitations and provide increased user support. However, this in turn has led to significant increase in the investments, hampering the profitability of the existing industry participants
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.
Active exoskeleton market 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.
Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/exoskeleton-market
Major industry participants in the exoskeleton 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.
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