Powered Exoskeleton Market expected to grow at a CAGR of 43.90% By 2026| Knots Plus Ltd, ATOUN Inc, BIONIK, CYBERDYNE INC, Ekso Bionics, GOGOA, Hocoma, Honda Motor, Hyundai Motor Company

Recent research and the current scenario as well as future market potential of "Global Powered Exoskeleton Market - 2019-2026".

The Global Powered Exoskeleton Market is expected to grow at a CAGR of 43.90% during the forecasting period (2019-2026).

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Powered exoskeleton is a wearable mobile machine that is powered by a system of electric motors, pneumatics, levers, hydraulics, or a combination of technologies that allow for limb movement with increased strength and endurance.

Ghent University exoskeleton: "WALL-X". In 2013 this was the first exoskeleton that allowed to reduce metabolic cost below the cost of normal walking. This result was achieved by optimizing the controls based on study of the biomechanics of the human-exoskeleton interaction.
Global Powered Exoskeleton market is expected to grow at a CAGR of XX% to reach market value of USD XXXX million by 2025.

Market Drivers:

Growing need of Assistive technology (AT) systems for ageing population in the world will boost the market for powered exoskeleton market in the future.
Assistive technology (AT) is any item, piece of equipment, software program, or product system that is used to increase, maintain, or improve the functional capabilities of persons with disabilities.
In spite of the advantages got from the utilization of AT, a few sections of the world have negligible or no entrance to AT. In some low-income and middle income countries (LMIC), just 5- 15% of individuals who require AT access them.

Market Restraints:

Stringent Government Regulations Concerning about the User Safety and Robot reliability and High Cost equipment are main constraints of the global powered exoskeleton market.
Selling powered exoskeletons in massive quantities is not an easy task. For this will need; invention, patents (to protect your invention), engineering optimization, 3rd party safety validation, distributors and interested buyers, FDA regulations, 3rd party testing that looks at the human-machine interactions, and so on. FDA classifies devices into class II if general controls by themselves are insufficient to provide reasonable assurance of safety and effectiveness, but there is sufficient information to establish special controls to provide reasonable assurance of the safety and effectiveness of the device for its intended use. After review of the information submitted in the request, FDA determined that the device can be classified into class II with the establishment of special controls.

Market Segmentation

By Vertical

The powered exoskeleton market is segmented on the basis of different verticals such as Healthcare, Military & Defense, Industrial, and Others. Healthcare vertical holds highest market share followed by military and defense vertical. These two verticals trend will continue the dominant share of the global powered exoskeleton market by the end of forecast period too.
ReWalk is the first external, powered, motorized orthosis (powered exoskeleton) used for medical purposes that is placed over a person's paralyzed or weakened limbs for the purpose of providing ambulation.

By geography

Global powered exoskeleton market is classified based on the geography such as Americas, Europe, Asia-Pacific and Rest of the World.
Americas is fastest growing due to growing tire investments in the countries such as the United States and Brazil.
The largest market share of the Americas powered exoskeleton segment is attributed to the growing geriatric population, increasing demand for self-assist exoskeletons, growing number of spinal cord injuries (SCI), and the high prevalence of stroke in the region.
In the United States, in anticipation of obtaining medical device approval for HAL(R) for Medical Use (Lower Limb Type) by the U.S. Food and Drug Administration ("FDA"), the Company began the process of establishing an American incorporation CYBERDYNE USA Inc.

Competitive Landscape

The increase in advancement in technology and FDA approvals for exoskeleton is driving the global powered exoskeleton market.
EksoGT, is Esko Bionics key product and is the first FDA cleared exoskeleton for stroke and spinal cord injury rehabilitation that is designed to help patients get back on their feet supporting re-learning of correct step patterns, weight shifting, and potentially mitigating compensatory behaviors.
In 2017, Hyundai Motor has revealed new wearable powered robots that will revolutionize the future of personal mobility. The latest innovations in advanced assistive medical, work and daily life exoskeletons are on show at the 2017 Consumer Electronics Show (CES) in Las Vegas, demonstrating Hyundai Motor's ambition to provide customers with personal mobility solutions and freedom beyond the automobile.
In July 2015, Hocoma, the global market leader in robotic and sensor-based devices for functional movement therapy, launches its new Armeo(R)Power. The device is the world's first exoskeleton for integrated arm and hand rehabilitation that trains even severely affected stroke patients to use their arms and hands again.

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Product mapping in excel for the Powered Exoskeleton products of all major market players

Target Audience

Raw Material Suppliers/ Buyers
Product Suppliers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturer

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