Medical Exoskeleton Market Future Business Opportunities, Exploring Future Growth Potential, New Developments, Company Performance and Forecast

Browse 96 market data Tables and 38 Figures spread through 178 Pages and in-depth TOC on "Medical Exoskeleton Market by Component (Hardware (Sensor, Actuator, Control System, Power Source), Software), Type (Powered, Passive), Extremities (Lower, Upper and Full Body) & Mobility (Mobile, Stationary) - Global Forecasts to 2026
According to the new market research report "Medical Exoskeleton Market [https://www.marketsandmarkets.com/Market-Reports/medical-exoskeleton-market-138546702.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr] by Component (Hardware (Sensor, Actuator, Control System, Power Source), Software), Type (Powered, Passive), Extremities (Lower, Upper and Full Body) & Mobility (Mobile, Stationary) - Global Forecasts to 2026", published by MarketsandMarkets Trademark , the Medical Exoskeleton Market size is projected to reach USD 1.0 billion by 2026, from USD 0.2 billion in 2021, at a CAGR of 45.0%.

Browse in-depth TOC on "Medical Exoskeleton Market"

96 - Tables

38 - Figures

178 - Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=138546702 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=138546702&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr]

The growth of this market is mainly driven by factors such as the increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches; agreements and collaborations among companies and research organizations for the development of the exoskeleton technology, and increasing insurance coverage for medical exoskeletons in several countries driving the growth of the medical exoskeleton market. However, the high cost of medical exoskeletons may restrict market growth to a certain extent.

The companies have a large market spread across various countries in North America, Europe, Asia, and the Rest of the World.

Impact of Covid-19 on The Medical Exoskeleton Market

As of September 2021, more than 220 million confirmed cases of COVID-19 were reported globally, with more than 4.5 million deaths (Source: WHO). This situation has compelled governments across the world to take proactive measures to contain the outbreak.

The COVID-19 pandemic had a negative impact on the market, with small and medium-sized companies struggling to sustain their businesses. The medical exoskeleton market is witnessing a variable growth trend, with some countries offering some growth potential while others are facing closures and low profit margins. Major exoskeleton providers, such as Ekso Bionics, ReWalk Robotics, and Hocoma AG, have incurred a reduction in overall revenue for the fiscal year 2020 due to a decline in the demand for exoskeleton systems. Manufacturers are likely to adjust production to prevent bottlenecks and plan production according to the demand from OEMs. Tier 1 players experienced a decline in revenue in the remaining quarters of 2020. Moreover, medical exoskeleton manufacturers are facing disruptions in supply chains as countries are under lockdown to prevent the spread of the disease.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=138546702 [https://www.marketsandmarkets.com/requestsampleNew.asp?id=138546702&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr]

The hardware segment accounted for the largest share 78.6% of the medical exoskeleton market

The medical exoskeleton market, by component, is segmented into hardware and software. The hardware segment is expected to account for the largest share 78.6% of the medical exoskeleton market in 2020. The dominant share of this segment is attributed to the fact that a large number of parts such as sensors, actuators, power sources, and control systems are required to manufacture exoskeletons.

The lower extremity segment accounted for the largest share 63.0% of the medical exoskeleton market

By extremity, the market is segmented into lower extremity medical exoskeletons and upper extremity medical exoskeletons and Full Body extremity medical exoskeletons. the lower extremity medical exoskeletons segment is expected to account for a larger share of 63.0% of the market. Lower extremity exoskeletons provide stability to paralyzed and geriatric patients and offer weight-bearing and locomotion capabilities. As a result, their adoption is higher in the rehabilitation of patients.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=138546702 [https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=138546702&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr]

North America accounted for the largest share 44.4%. of the global medical exoskeleton market

Based on the region, the medical exoskeleton market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to dominate the market with a share of 44.4%. The growing geriatric population, increasing demand for self-assist exoskeletons, high prevalence of stroke, and growing number of spinal cord injuries (SCI) are the key factors driving the growth of the medical exoskeleton market in this region.

Some of the leading players in the Medical exoskeleton market include Key players in this market are Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd. (Israel), Parker Hannifin Corp (US), CYBERDYNE Inc. (Japan), Bionik Laboratories Corp (Canada), Rex Bionics Ltd. (UK), B-TEMIA Inc. (Canada), Hocoma AG (a subsidiary of DIH Technologies) (Switzerland), Wearable Robotics SRL (Italy), Gogoa Mobility Robots SL (Spain), and ExoAtlet (Luxembourg).

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=medical-exoskeleton-market-future-business-opportunities-exploring-future-growth-potential-new-developments-company-performance-and-forecast]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/medical-exoskeleton-market-138546702.html



This release was published on openPR.