Medical Exoskeleton Market High Market Major Players are ReWalk Robotics, Ekso Bionics, CYBERDYNE, Tyromotion, B-Temia, US Bionics, Gogoa Mobility Robots

With increasing costs of manufacturing against their practices, the medical device manufacturers are struggling to generate enough revenue to please their investors. The emerging markets are expected to be the crucial factor for offering better and lucrative growth opportunities for the market players to expand their business and geographic reach. The treatment for the musculoskeletal diseases and orthopedic conditions become more straightforward due to the help of the advancement in the technologies. As compared to consuming heavy dose medicines and hectic therapies, braces and supports have reduced the number of the consumption of the medication and the treatments. The exoskeleton devices have helped so many patients to manage and reduce their pains and helped to move along with the other healthy people. Also, the healthcare expenditure has created lots of opportunities for the developing nations to provide better and more services and facilities to their people. Regions such as Asia, the Middle East, and Africa are investing more in the healthcare sectors.

Download sample PDF copy at: https://bit.ly/2XDt845

The global medical exoskeleton market accounted to US$ 96.7 Mn in 2018 and is expected to grow at a CAGR of 29.4% during the forecast period 2019 - 2027, to account to US$ 1,023.0 Mn by 2027.

The major players operating in the medical exoskeleton market include, ReWalk Robotics, Ekso Bionics Holdings, Inc., Parker Hannifin Corporation (Indego), CYBERDYNE, INC., Bionik Laboratories Corp., Hocoma AG, Tyromotion GmbH, B-Temia Inc., US Bionics Inc. and Gogoa Mobility Robots. The market has carried out various organic and inorganic growth strategies in the market which has assisted in strengthening their product offering in the market.

Asia Pacific is the fastest growing geographic market and it is expected to be the fastest revenue contributor throughout the forecast period. Asia Pacific is recognized as a developing market for the medical devices. The market growth is expected due to the rising developments by the Chinese, Japanese, South Korean and Indian companies in the market of medical exoskeleton. In addition, the market for medical exoskeleton in Australia is expected to grow due to the development in the healthcare system.

Global medical exoskeleton market was segmented by drive type, type, extremity, application and end user. On the basis of the drive type the market is segmented as pneumatic actuator, hydraulic actuator, electric actuator, mechanical, shape memory alloy actuator, other actuator. Based on the type the medical exoskeleton market is segmented into powered exoskeleton, passive exoskeleton); extremity (lower body exoskeleton, upper body exoskeleton. Based on the application the market was segmented into spinal cord injury, multiple sclerosis, cerebral palsy, stroke and others. On the basis of the end user the market was segmented as rehabilitation centers, physiotherapy centers, physiotherapy centers, mining, others.

The market for medical exoskeleton is expected to grow significantly due to factors such as increase in the number of orthopaedic surgeries, rise in the geriatric population and growing incidences of road accidents. However, the factor such as high cost of the product and regulatory concerns are likely to act as challenges for the growth of the market during the forecast period.

Organic and inorganic growth strategies were observed in global medical exoskeleton industry. The organic strategies which were conducted more compared to the inorganic strategies for the Medical Exoskeleton. For instance, in June, 2019, ReWalk Robotics announced that it has received U.S. Food and Drug Administration approval for its ReStore soft exo-suit system. The approval has helped in the sales of the product to the rehabilitation centers across the United States. Thus, the organic strategy has enabled the company to grow its business in the market.

Buy This Report at: https://bit.ly/2zxabYU

Besides, the population in these regions and health regarding awareness is aggressively increasing. Therefore, the incidences of the orthopedic conditions are growing. The regions are also witnessing a rise in the start-up companies investing more on the healthcare sectors. Therefore, owing to the factors mentioned above, the market for medical exoskeleton is likely to show a high potential in emerging nations.

Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Life Science, Technology, Healthcare, Manufacturing, Automotive and Defense, Food Beverages, Chemical etc.

This release was published on openPR.