Medical Exoskeleton Market Size worth $4,676.61 Million By 2030 | CAGR: 44.8%

According to the research report, the global medical exoskeleton market was valued at USD 203.68 million in 2021 and is expected to reach USD 4,676.61 Million By 2030, growing at a CAGR of 44.8% during the forecast period.

The rising occurrence of traffic accidents, strokes, and serious injuries has increased physical disability. According to the Indian government, vehicle accidents are still the largest cause of death, disability, and hospitalization. India is #1 among the 199 countries in road accident fatalities, accounting for over 11 percent of all accident-related deaths worldwide. According to the 2019 Road Accident Report, there were 449,002 incidents in the country in 2019, resulting in 151,113 deaths and 451,361 injuries. The decrease in road accidents, fatalities, and injuries reported during the calendar year 2019 appears to be an outcome of the Motor Vehicle Act, which was implemented in states beginning September 1, 2019, and focused on road safety by including, among other things, stiffer penalties for traffic violations as well as electronic enforcement. Thus, road accidents have led to an increase in disabilities which are boosting the demand for the medical exoskeleton.

Request Sample Copy of Research Report @ https://www.polarismarketresearch.com/industry-analysis/medical-exoskeleton-market/request-for-sample

(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Moreover, the growing elderly population, which is prone to numerous diseases, and the influx of innovative rehabilitation methodologies, will play a significant role in market expansion. For instance, according to the United Nations, by 2050, one out of six in the global population would be aged more than 65 years. In 2019, there were 703 million people worldwide who were older than 65 years. The population of older people is expected to more than treble to 1.5 billion by 2050. Globally, the individuals aged 65 and up climbed from 6% in 1990 to 9% in 2019. Thus, the rising geriatric population increased chronic illness, boosting the demand for medical exoskeletons during the forecast period.

Based on the component, the hardware segment accounted for the leading share in the market in 2021. The hardware segment is expected to grow rapidly as a result of increased customer awareness. The increased need for smarter and more interactive solutions has resulted in more upgraded and improved technology with enhanced capabilities. The increased efforts made by product makers and the rising demand for various hardware sub-components and power sources would boost market revenue.

Top Key Players Are:

Market players such as Bioventus, B-TEMIA Inc, Cyberdyne Inc., Ekso Bionics, Gogoa Mobility Robots, Lockheed Martin Corporation, Parker Hannifin Corp, Rewalk Robotics, Rex Bionics, Suit X, Wearable Robotics are some key players operating in the global market. In March 2021, ReWalk Robotics, Ltd., a leading maker of robotic medical equipment for individuals with poor extremity disabilities, has announced a partnership with BKK Mobil to donate ReWalk Personal Exoskeleton devices to the beneficiaries.

Browse detail report with in-depth TOC @ https://www.polarismarketresearch.com/industry-analysis/medical-exoskeleton-market

Polaris Market Research has segmented the medical exoskeleton market report based on component, type, application, end-use, and region:

Medical Exoskeleton, Component Outlook (Revenue - USD Million, 2017 - 2030)

Hardware

Sensor
Actuator
Control System
Power Source

Software

Medical Exoskeleton, Type Outlook (Revenue - USD Million, 2017 - 2030)

Powered Exoskeletons
Passive Exoskeletons

Medical Exoskeleton, Application Outlook (Revenue - USD Million, 2017 - 2030)

Spinal Cord Injury
Multiple Sclerosis
Cerebral Palsy
Stroke
Others

Medical Exoskeleton, End-Use Outlook (Revenue - USD Million, 2017 - 2030)

Rehabilitation Centers
Physiotherapy Centers
Physiotherapy Centers
Others

Contact Us:
Polaris Market Research
30 Wall Street
8th Floor,
New York City, NY 10005,
United States
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Ph: +1-929 297-9727

About Us:
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and aerospace & defense, among different ventures, present globally.

This release was published on openPR.