What’s Driving the Exoskeleton Market Trends? | Key Players are Ekso Bionics, Hocoma AG, Hyundai Motor Company, Lockheed Martin, Parker Hannifin, ReWalk Robotics, Inc., Rex Bionics, Sarcos Robotics, SRI International, Wandercraft

ReWalk Robotics’ soft exoskeleton launch a while back apparently took exoskeleton market by storm. The product has been exclusively designed by the USA-based exoskeleton industry player to help in the rehabilitation of patients suffering from lower leg limb disability due to strokes. The device would also help patients diagnosed with Parkinson’s and multiple sclerosis to heal faster and regain their balance.

Characterized by technological innovations, exoskeleton market strives to bring about a transformation in rehabilitation devices for consumer comfort. In yet another breakthrough, Lowe’s companies Incorporation, a key player across the retail industry, and Virginia Tech, an educational institute & university based in the U.S., have built a soft & light exosuit to help the employees working in Lowe’s retail stores to easily lift and move heavy products across the store.

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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.

The major manufacturers covered in exoskeleton market report: -
1. BIONIK Laboratories Corp.
2. Cyberdyne Inc.
3. Ekso Bionics
4. Hocoma AG
5. Hyundai Motor Company
6. Lockheed Martin
7. Parker Hannifin
8. Revision Military
9. ReWalk Robotics, Inc.
10. Rex Bionics
11. Sarcos Robotics
12. SRI International
13. Wandercraft

Some Points From Table of Content: -

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
3.6 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

Based on product, mobile exoskeleton market revenue share is expected to witness highest growth over the forecast timeframe. Technological advancement in products and reduction in cost supported by smaller and powerful motors, inexpensive gyroscope and accelerometer provide the users with the required ease of mobility. Additionally, increasing usage in rehabilitation from stroke, and other physical disabilities will support the segment growth.

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Exoskeletons are rapidly gaining momentum across myriad geographies. The huge presence of exosuit manufacturers and escalated product demand across military & healthcare sectors are anticipated to stimulate APAC exoskeleton market outlook. This regional market, as per estimates, is expected to record the highest CAGR over 2019-2026. Mounting awareness about the beneficial use of industrial robotics in manufacturing activities and the rise in the production of wearable robots across the defense sector are predicted to be the key factors driving APAC exoskeleton market, with China and South Korea forecast to be the major revenue pockets.

The recent breakthroughs witnessed across the business landscape indeed validate the claims put forward by market analysts, who state that exoskeleton market size would be worth more than USD 3.5 billion by 2026.

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