Exoskeleton Market Hit by Coronavirus Outbreak, Downside Risks Continue to Escalate but Future Outlook Remains Positive According to our Study | ReWalk Robotics, Parker Hannifin, REX Bionics, Ekso Bionics

Rising incidences of patients with body movement disorders such as multiple sclerosis, Parkinson's disease, and strokes are the major factor influencing market growth.

Market Size - USD 0.22 billion in 2018, Market Growth - CAGR of 43.4 %, Market Trends -Increase in disposable income coupled with rising concerns about healthcare

The Exoskeleton Market is expected to reach USD 4.00 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the increasing number of patients with body movement disorders such as multiple sclerosis, Parkinson's disease, and strokes are major factors stimulating market demand. This is supposed to increase the need to study and ensure the safety of targeted and specific therapies, circumvent probable shortcomings and evaluate their outcomes. As a result of high effectiveness, many military and healthcare companies are including exoskeleton devices to offer highly effective results to the large population experiencing from target diseases.

Exoskeleton is an external skeleton that provides protection and support to an animal's body, for example, a human. In practice, some of the more essential kinds of exoskeletons are known as "shells." Exoskeletons are located on the 'user's body and act as amplifiers that increase, strengthen, or restore human performance. The opposite would be an automatic prosthetic, such as a robotic leg or arm that substitutes the original body part.

This report covers the recent COVID-19 incidence and its impact on Exoskeleton. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

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Key participants include Lockheed Martin Corporation, ReWalk Robotics, Parker Hannifin, REX Bionics, Ekso Bionics, ATOUN Inc., Cyberdyne, Hocoma, Wandercraft, Revision Military, Honda Motor Co. Ltd.

For the purpose of this study, Reports and Data have segmented the global Exoskeleton Market on the basis of Mobility type, End user, Type, Technology, Anatomy and region:

Mobility Type Outlook (Revenue, USD Million; 2016-2026)
Mobile Exoskeleton
Stationary Exoskeleton

End User Outlook (Revenue, USD Million; 2016-2026)
Healthcare
Industrial
Military & Defense
Others

Type Outlook (Revenue, USD Million; 2016-2026)
Powered
Passive

Technology Outlook (Revenue, USD Million; 2016-2026)
Electric Actuator
Fuel Cell
Pneumatic Actuator
Hydraulic
Electric Servo
Shape Memory Alloy Actuator

Anatomy Outlook (Revenue, USD Million; 2016-2026)
Lower Body
Full Body
Upper Body

The Exoskeleton market report highlights the regions, particularly in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Further key findings from the report suggest

Electric actuator technology is expected to grow at a rate of 43.4% during the forecast period.

The largest share of electric actuators technology is due to its low cost over pneumatic or hydraulic actuators and their accurate control of acceleration, speed, and position.

The appearance of a large number of commercialized electric actuators can be another critical factor that is anticipated to boost the market share in the coming years.

Stationary exoskeleton segment accounts for a market share of 45.6% in 2018.

Due to the predominance of a vast number of new entrants, established manufacturers, and suppliers in the market, the industry is extremely competitive.

Important factors for the growth of the segment are rising predominance of spinal cord injuries (SCIs) and increasing usage of stationary type in rehabilitation.

The increasing predominance of nervous system trauma is one of the crucial factors that is expected to drive the application of exoskeletons in the healthcare industry.

Asia Pacific is forecasted to witness the fastest CAGR of 43.6% during the forecast period. Rising healthcare expenditure and increasing concerns due to various benefits of these tools are the significant growth drivers for the market in this region.

Economic development coupled with continually increasing per capita healthcare investment in emerging countries such as India, China, and Singapore are expected to create high growth opportunities.

Innovations and technological trends in treatment and increased healthcare facilities are expected to drive the growth further

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/exoskeleton-market

Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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