Huge Demand from Healthcare Applications To Fuel The Growth Of Soft Exoskeleton Market in the Years to Come | Hocoma AG, ReWalk Robotics, Inc., Revision Military, SRI International, Defence Science and Technology Organization, Ekso Bionics, Otherlab

Soft exoskeleton Market in healthcare applications is anticipated to grow at a rapid rate attributed to the burgeoning adoption of exosuits by patients with physical disabilities such as Parkinson’s disease and multiple sclerosis. The rise in the number of hospitals, clinics, and medical centers offering rehabilitation treatment to paralytic patients is projected to impel market penetration in the coming years. In addition to this, the ability of soft exoskeleton to provide relief from spine injuries, traumatic brain injuries, and strokes would further advance market share.

Increasing disabilities among people along with the growing number of accidents leading to immobility will drive the soft exoskeleton market share. Technological advancements including the introduction of lightweight materials for suit construction along with lean manufacturing processes for lowering weight and suit costs will further support the industry expansion through 2025.

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High number of injuries associated with manufacturing and construction industries will support proliferation of soft exoskeletons market share from 2019 to 2025. According to Harvard University, over half a million workers are injured in industrial-related jobs resulting in direct costs of over USD 13.8 billion. Moreover, the integration with existing personal protective equipment for mitigating major injury risks and improving productivity are expanding the segment share over the projected timeframe.

Key Companies - Global Soft exoskeleton Market: -

• ActiveLink
• Bioservo Technologies
• Daiya Industry Co., Ltd.
• Gogoa Mobility Robots
• Harvard Biodesign Lab
• Hocoma AG
• ReWalk Robotics, Inc.
• Revision Military
• SRI International
• Defense Advanced Research Projects Agency (DARPA)
• Defence Science and Technology Organization
• Ekso Bionics
• Panasonic
• Otherlab

Technological complications associated with soft exoskeleton products such as torque and force generated by pneumatic actuators can enter the user’s body and mounting of motor and sensor over exoskeleton may hamper the soft exoskeleton market share over the forecast timeframe. However, researchers are working on lightweight and efficient actuation systems and flexible transmissions that transmit power to the joints.

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Based on product, full body soft exoskeleton market share is expected to witness highest growth over the forecast timeframe. Benefits offered by these systems include the ability to wear underneath clothing, full body protection and support along with availability of wide range of alternatives. Lower cost of these suits compared to the rigid exosuits along with light weight and availability across several sizes will support the industry proliferation through 2025.

Military soft exoskeleton market will witness highest growth owing to considerable requirements of supporting equipment for the armed forces. Decreasing metabolic cost of movement and mobility assistance to the leg muscles are among their key advantages. Running assistance leverages the user’s endurance that provide significant gain in efficiency, thereby positively influence the product adoption through the forecast time period.

Europe soft exoskeleton market will grow significantly owing to increased investments in R&D for improving the exoskeleton technology. The business is further supported by the presence of geriatric population and increasing innovations in the technology. Industry participants are engaged in collaborating with research institutes and universities for developing lightweight exosuits at a lower cost. For instance, researchers from the University of Limerick are collaborating with the Italian Institute of Technology for offering commercially viable exoskeletons by 2019.

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Few players in the soft exoskeleton industry include Ekso Bionics, ReWalk Robotics, Panasonic, Matsushita Electric Industrial, Bioservo, and SRI International Technologies AB. Partnerships and joint ventures are among the prominent strategies adopted by the industry participants for improving their market share.

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