Medical Exoskeleton Market worth $ 215.6 Million in 2021 - Exclusive Report by xResearch offering Market Sizes, Forecast, & Competitive Landscape

According to a new report published by xResearch, titled, “Medical Exoskeleton Market Insights, Trends, Opportunity & Forecast, 2021–2030,” the global medical exoskeleton market size is anticipated to witness exponential growth during the forecast period i.e. 2021-2030. The high usage of exoskeletons in medical applications; the rising advancements & adaption of exoskeleton devices worldwide; the growing access to insurance coverage for medical exoskeleton in the majority of countries across the globe; the surging prevalence of spinal cord injuries; and the increasing availability of innovative rehabilitation approaches are among the major factors contributing to the growth of the global medical exoskeleton market.

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According to component, the hardware segment dominated the global exoskeleton market in 2020. The segment is anticipated to maintain its lead further and register the highest growth rate in the market during the forecast period of 2021-2030. According to type, the powered exoskeletons segment is expected to achieve the highest CAGR in the market during the forecast period of 2021-2030. According to mobility, the mobile exoskeletons market size is predicted to attain the highest growth in the market during the forecast period. According to extremity, the lower extremity medical exoskeletons segment captured the largest share of the global medical exoskeletons market in 2020. The segment is projected to retain its dominance further and experience the highest growth in the market during the forecast period.

Geographically, the North American region acquired the largest share of the global medical exoskeleton market in 2020, followed by Asia Pacific, and Europe. The region’s position is estimated to remain unchanged during the years of forecast owing to factors such as the growing prevalence of stroke and spinal cord injuries (SCI); the ever-rising geriatric population base; the soaring purchasing power of patients; and the growing government support in the region. Countries such as the U.S. and Canada are among the key contributors to the growth of the market in the region.

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Some of the major medical exoskeleton companies profiled in the report include Bioventus, Hocoma AG, Wearable Robotics SRL, Gogoa Mobility Robots SL, ExoAtlet, Meditouch, Suit X, Focal Meditech, Honda Motors, and Wandercraft.

The global medical exoskeleton market is segmented into component, type, extremity, mobility, structure, application, end-user, and region. Based on component, the market is bifurcated into hardware and software. The hardware sub-segment is further classified into sensors, actuators, power sources, control systems, and other hardware components. The sensors sub-sub-segment is further categorized into gyroscopes, microphones, accelerometers, tilt sensors, force/torque sensors, position sensors, and others. The actuators sub-sub-segment is further categorized into electrical, pneumatic, hydraulic, and piezoelectric. Based on type, it is classified into powered exoskeletons and passive exoskeletons. Based on extremity, it is classified into upper extremity medical exoskeletons, lower extremity medical exoskeletons, and full body. Based on mobility, it is classified into mobile exoskeletons and stationary exoskeletons. Based on structure, it is classified into rigid exoskeletons and soft exoskeletons. Based on application, it is classified into spinal cord injury, multiple sclerosis, cerebral palsy, stroke, and other. Based on end-user, it is classified into rehabilitation centers, physiotherapy centers, and others.

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The global medical exoskeleton market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).

Key Insights of Medical Exoskeleton Market

• On the basis of component, the hardware segment dominated the global exoskeleton market in 2020. The segment is anticipated to maintain its lead further and register the highest growth rate in the market during the forecast period of 2021-2030.
• On the basis of type, the powered exoskeletons segment is expected to achieve the highest CAGR in the market during the forecast period of 2021-2030.
• On the basis of mobility, the mobile exoskeletons market size is predicted to attain the highest growth in the market during the forecast period.
• On the basis of extremity, the lower extremity medical exoskeletons segment captured the largest share of the global medical exoskeletons market in 2020. The segment is projected to retain its dominance further and experience the highest growth in the market during the forecast period.
• On the basis of region, North America acquired the largest share of the global medical exoskeleton market in 2020, followed by Asia Pacific, and Europe. The region’s position is estimated to remain unchanged during the years of forecast.

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This release was published on openPR.