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soft exoskeleton market in Europe Region will grow significantly Over 2019-2025| Key participants are Ekso Bionics, ReWalk Robotics,Matsushita Electric Industrial, Bioservo, and SRI International Technologies AB.
soft exoskeleton market
The global soft exoskeleton market is touted to make a big difference in the wearable industry in the coming years, owing to increasing product demand from patients with musculoskeletal and neurological disorders coupled with plentiful advantages of soft suits over bulky metallic suits. Research and development are the cornerstones of this industry, leading players try and guarantee cutting-edge, practical, and quality products for solving consumer problems.
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Amidst stringent labor safety regulations, there has been an upward momentum in product demand in manufacturing industries, primarily driven by the need to ensure worker safety and enhance efficiency, thereby bolstering soft exoskeleton market over the future.
Improvements in motors and actuators for powering the exosuits including improved battery capacity & power and the incorporation of advanced sensors will contribute significantly towards the soft exoskeleton market expansion till 2025.Industry participants along with multiple educational research institutions are actively capitalizing in R&D to present innovative solutions for customers. For instance, in May 2016, ReWalk Robotics collaborated with Wyss Institute of Harvard University.
This collaboration facilitated the firms to develop designs and concepts of lightweight exoskeleton system technologies aimed at lower limb disabilities, propelling the soft exoskeleton market growth of over the study timeframe.
Supporting regulations and standards are playing a significant role in augmenting the soft exoskeleton market share till 2025. For instance, in 2017, American Society for Testing and Materials formed a Committee F48 for addressing concerns related to the design and manufacturing, maintenance & disposal, human factors and ergonomics, security and information technology, and task performance and environmental considerations. These standards will enable industry participants to focus on improving the quality and offer low-cost innovative solutions, further boosting the soft exoskeleton market proliferation over the projected timeframe.
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Additionally, Europe CE certifications, China Food and Drug Administration (CFDA), and Japanese Ministry of Health, Labor, and Welfare (MHLW) have developed stringent regulations for the usage of soft exoskeletons in industrial and healthcare sectors. These regulations and safety parameters will induce improved confidence in customers and will contribute significantly toward the soft exoskeleton market expansion till 2025.
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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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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Global Market Insights, Inc.
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