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Medical Exoskeleton Market Size Forecasted To Achieve $1.29 Billion By 2029 With Steady Growth
Medical Exoskeleton Market
What Is the Medical Exoskeleton Market Size and Projected Growth Rate?
The medical exoskeleton market size will grow from $0.42 billion in 2024 to $0.53 billion in 2025 at a compound annual growth rate (CAGR) of 25.3%. The growth in the historic period can be attributed to an increasing aging population, a rising prevalence of neurological disorders, improved healthcare infrastructure, increased investment in rehabilitation technologies, and a growing prevalence of mobility impairments.
The medical exoskeleton market is expected to grow to $1.29 billion in 2029 at a CAGR of 25.0%. Growth drivers include adoption in rehabilitation centers, awareness, investments, chronic disease prevalence, battery life, and energy efficiency improvements. Trends include home-based rehab, lightweight designs, telemedicine integration, and sensor technology advancements.
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What Are the Major Segments in the Medical Exoskeleton Market?
The medical exoskeletonmarket covered in this report is segmented -
1) By Type: Powered Exoskeletons, Passive Exoskeletons
2) By Component: Hardware, Software
3) By Mobility: Stationary, Mobile
4) By Extremities: Lower, Upper, Full Body
5) By Application: Spinal Cord Injury, Stroke, Other Applications
Subsegments:
1) By Powered Exoskeletons: Lower Limb Exoskeletons, Upper Limb Exoskeletons, Full-Body Exoskeletons, Rehabilitation Exoskeletons, Industrial Exoskeletons
2) By Passive Exoskeletons: Lower Limb Passive Exoskeletons, Upper Limb Passive Exoskeletons, Posture-Support Exoskeletons, Assistive Devices for Daily Living
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What Are The Driving Medical Exoskeleton Market Evolution?
The rise in spinal cord and brain injuries is expected to accelerate the growth of the medical exoskeleton market. These injuries, often resulting from accidents, falls, sports injuries, and violence, can impair motor, sensory, and cognitive functions. Medical exoskeletons assist with mobility and rehabilitation by providing support and enhancing physical capabilities. A report from the New Zealand Spinal Trust in November 2023 indicated a rise in spinal cord injuries, from 41 per million in 2021 to 45 per million in 2022, which further boosts the demand for medical exoskeletons.
Which Firms Dominate The Medical Exoskeleton Market Segments?
Major companies operating in the medical exoskeleton market are Honda, Panasonic Holdings Corporation, Parker Hannifin Corporation, Ottobock SE & Co KGaA, DIH International Limited, Fourier Intelligence, Cyberdyne Inc., GBS German Bionic Systems GmbH, Hocoma AG, Neofect, Bionic Yantra, Ekso Bionics Holdings Inc., Hexar Humancare, MediTouch, Suit X, ReWalk Robotics, Rex Bionics Ltd., Human Motion Technologies LLC, Guangzhou Yikang Medical Equipment, NextStep Robotics, Marsi Bionics, Focal Meditech, Gogoa Mobility Robots, B-Temia, Rehab-Robotics Company Limited, Roam Robotics, Bionik Laboratories Inc
What Medical Exoskeleton Market Trends Are Gaining Traction Across Different Segments?
Leading companies in the medical exoskeleton market are focusing on integrating smart powering mechanisms to enhance workforce efficiency and support the nursing profession amid labor shortages. For example, in December 2023, German Bionic, a Germany-based automation machinery company, launched the Apogee+ e-exoskeleton to help healthcare professionals reduce physical strain. This exoskeleton provides dynamic lifting assistance, alleviating back strain during tasks like patient transfers.
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Which Is The Largest Region In The Medical Exoskeleton Market?
North America was the largest region in the medical exoskeleton market in 2024. The regions covered in the medical exoskeleton market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Medical Exoskeleton Market?
2. What is the CAGR expected in the Medical Exoskeleton Market?
3. What Are the Key Innovations Transforming the Medical Exoskeleton Industry?
4. Which Region Is Leading the Medical Exoskeleton Market?
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