Medical Exoskeletons Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2027 - Cyberdyne, Ekso Bionics, Rewalk Robotics
The Global Medical Exoskeletons Market Size is Projected to Reach at a CAGR of 45% during 2021-2027.
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Global Medical Exoskeleton Market Overview:
The high demand for effective rehabilitation by the rising number of patients with physical disabilities across the globe will drive Medical Exoskeleton Market. The number of individuals with physical disabilities is growing rapidly due to road accidents, strokes, severe injuries that should foster business growth. The elderly population is more prone to suffer from stroke. According to the U.S. Census Bureau Americans aged, 65 or over will be double by 2050 thereby, should fostering industry growth. As a result, demand for rehabilitation will drive the Medical Exoskeleton Market growth. In addition, growing insurance coverage for Medical Exoskeleton in many countries will act as a positive impact rendering factor. Moreover, assistive technology is an important part of the healthcare industry. In several economies, many rehabilitation centres use assistive devices that are adapted to assist an individual to perform a particular task, use of such assistive devices should favour industry growth over the forecast timeline.
Top Leading Companies:
Cyberdyne, Ekso Bionics, Rewalk Robotics, Rex Bionics, Parker Hannifin, B-Temia, Bioness, Hocoma, Wearable Robotics, Gogoa Mobility Robots, Exoatlet
In 2021, CYBERDYNE received medical device approval from the Thai Food and Medical Products Approval Authority (Thai FDA) for HAL Single Joint Type. The product is for patients with reduced mobility in the upper and lower limbs due to muscle weakness or paralysis.
In 2020, Ekso Bionics received 501(k) clearance from the US Food and Drug Administration (FDA) to market its EksoNR robotic exoskeleton for patients with acquired brain injury (ABI). EksoNR is the first exoskeleton device to receive FDA clearance for rehabilitation use with ABI, significantly expanding the device’s indication to a broader group of patients.
In 2019, ReWalk Robotics’ ReStore soft exo-suit system received clearance from the US Food and Drug Administration (FDA) for sale to rehabilitation centres across the United States
In 2018, Parker Hannifin announced the release of its next-generation Indego Therapy device for use in rehabilitation centres which is rapidly adjustable and can be custom-sized and perfectly fitted to patients
In January 2017, Rex Bionics reported that a clinical trial for the use of a robotic mobility device REX in multi-sclerosis patients has been approved by the UK NHS Ethics Committee (MS).
Medical Exoskeletons Market Segmentation by Type:
Medical Exoskeletons Market Segmentation by Application:
Upper Extremity Medical Exoskeletons
Lower Extremity Medical Exoskeletons
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North America is Expected to Hold a Significant Share of the Market Over the Forecast Period
The key factors responsible for the large share of North America include the high purchasing power of patients, the growing geriatric population, and the presence of public and private organizations offering grants and funds for the development of technologically advanced products. According to the 2018 estimates by the Internet Stroke Center, stroke is the leading cause of serious and long-term disabilities in the United States. Approximately 17 million Americans suffer from stroke every year, and more than one million survivors sustain functional limitations in their daily activities due to stroke. More than 50% of stroke survivors experience long-term walking impairment due to hemiplegia or hemiparesis. Impaired ambulation due to hemiparesis or hemiplegia is associated with increased fall risk, limited community participation, and an overall decrease in the quality of life. Furthermore, the increasing prevalence of spinal cord injury (SCI) is one of the leading factors that may increase the adoption of the exoskeleton in the United States.
Regional Medical Exoskeletons Market (Regional Output, Demand & Forecast by Countries)
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.
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Highlights of the Medical Exoskeletons Market Report:
Detailed overview of Medical Exoskeletons Market
Changing the Medical Exoskeletons market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Medical Exoskeletons market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Medical Exoskeletons Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the Medical Exoskeletons Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Medical Exoskeletons industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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