Wearable Robots and Exoskeletons Market Size, Status and Industry Outlook During 2021 to 2026

The Global Wearable Robots and Exoskeletons Market Comprehensive Analysis, Outlook Along with Key segments and Forecasts, 2021-2026, offers an in-depth evaluation of each crucial aspect of the Global Wearable Robots and Exoskeletons industry that relates to market size, share, revenue, demand, and development in the market. The report analyzes the Wearable Robots and Exoskeletons market over the values, historical pricing structure, and trends that make it easy to predict growth momentum and precisely estimate forthcoming opportunities in the Wearable Robots and Exoskeletons Market. The report explores the current outlook in global and key regions from the perspective of players, countries, product types, and end industries. This report provides the COVID-19 (Corona Virus) impact analysis (historic and present) in major regions and countries also provides a futuristic analysis considering COVID-19.

The wearable robots and exoskeletons are expected to record a CAGR of 22.17% over the forecast period (2021 - 2026).

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The wearable robots and exoskeletons continue to evolve. The medical sector has adopted exoskeleton technologies for rehabilitation therapy and geriatric support. However, the market is gaining traction in the defense and other industries.

- Wearable robots and exoskeletons are used to assist in personal mobility. They encourage upright walking and relearning of lost functions for stroke patients and people who are paralyzed. Exoskeletons deliver high-quality rehabilitation, thus, providing the base for a growth strategy for clinical facilities.

- Wearable robots and exoskeletons are designed for supporting manual labor tasks in construction sites, for factory labor, in warehouses. In the manufacturing sector, exoskeletons offer various advantages, like reduction in work-related injuries, lower work fatigue, thus, increasing productivity and work quality. For instance, companies such as Ford are performing a trial by using exoskeletons. Based on its success, the company adopted the EksoVest (an exoskeleton that elevates and supports the arms of workers performing repeated overhead tasks) at 15 of its plants. EksoVests reduced workplace injuries by 83% during the course of the trial period.

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Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa

Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

Asia-Pacific is Expected to Experience a Rapid Growth

- Asia-Pacific wearable robots and exoskeletons market are expected to grow at a faster pace over the forecast period. The use of wearable robots in the region varies from healthcare, manufacturing, defense, etc. When it comes to the exoskeleton wearable development, two countries in the region stand apart from the rest, Japan and China. Both countries view exoskeletons as the key to prevent workplace injury and allowing aging workers to stay in the workforce longer. For instance, Tokyo's Haneda Airport is using exoskeletons for its aging staff to help them in lifting luggage.

- With the aging population becoming a major problem in this region, the demand for wearable robots and exoskeletons is set to increase over the forecast period. As per the Ministry of Internal Affairs and Communications (Japan), 36.2 million inhabitants in Japan were aged 65 or older in 2020, as compared to that of 35.2 million in 2017. This is encouraging companies to invest in such products for the elder population in the region.

- In 2019, the National University Health System in Singapore adopted three EksoGT exoskeletons (developed by Ekso Bionics Holdings Inc.) for a clinical study. This study focuses on determining the potential for scaling-up the use of robotic exoskeletons in hospitals and care centers. The study will be mainly focused on the patients suffering from stroke and spinal cord injuries, especially for the elderly.

- Moreover, the region is increasingly investing in military exoskeletons. In 2019, Norinco, China's state-owned manufacturer of armored vehicles and heavy ground munitions launched military exoskeleton to help infantry members carry 100 pounds (45 kgs) of weapons and ammunition.

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