Powered Exoskeleton Market Size, Share, Growth Industry Report 2024-2031 | RewalkRobotics, MediTouch, EksoBionics Holdings, Cyberdyne, Bionik Laboratories

Powered Exoskeleton Market is expected to grow at a CAGR of 44.85% during the forecast period 2024-2031.

The Powered Exoskeleton Market report by DataM Intelligence provides comprehensive insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. By combining qualitative and quantitative research methodologies, the firm delivers in-depth reports that help clients navigate complex market dynamics, drive strategic growth, and seize new opportunities in an ever-evolving global landscape.

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Powered Exoskeleton Market Overview:

Powered exoskeletons, also referred to as exosuits or powered armor, are advanced wearable robotic systems designed to enhance human mobility. These high-tech devices use a combination of electric motors, levers, and hydraulic systems to boost the wearer's strength and endurance, enabling more efficient limb movement. As reported by the National Spinal Cord Injury Statistical Center, around 350,000 individuals in the United States were living with spinal cord injuries as of 2018, with approximately 15,500 new cases occurring annually. In recent years, the use of powered exoskeletons has gained traction, particularly among older adults and individuals with neurological conditions or spinal injuries.

These devices are primarily utilized in the military to support soldiers in movement and lifting tasks, as well as in the medical field for rehabilitation and training purposes. Ongoing innovations in mechanical engineering, biomedical sciences, and electronics are accelerating the advancement of exoskeleton technology.

Powered Exoskeleton Industry Trends:

The growth of the powered exoskeleton market is largely fueled by rapid technological innovations, a rising number of stroke cases, increasing incidences of spinal cord injuries and paralysis, and the expanding elderly population.

The surge in mobility-related health conditions is closely tied to the growing rates of stroke, spinal injuries, and accidents. According to the American Journal of Public Health, over 15 million individuals in the U.S. are paralyzed and unable to walk. Additionally, the World Health Organization (WHO) reported in 2018 that around 50 million people worldwide sustained serious injuries due to traffic accidents or violent incidents, with many survivors left permanently disabled and in need of assistive technologies like exoskeletons.

Demographic shifts also play a crucial role in market expansion. The increasing number of older adults is creating a larger user base for these devices. According to the United Nations (UN), the global population aged 60 and above reached approximately 962 million in 2017, representing about 13% of the world's total population. This age group forms a significant and growing segment of the potential market for powered exoskeleton solutions.

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Strategic Players Driving the Powered Exoskeleton Market Forward: Cyberdyne, BionikLaboratories, Mitsubishi Heavy Industries, Honda Motors, Hyundai Motors, RewalkRobotics, MediTouch, EksoBionics Holdings, Inc., Panasonic Corporation, and Lockheed Martin Corporation.

Research Methodology:

The global Powered Exoskeleton Market research report employs a comprehensive dual-source approach, integrating both primary and secondary data collection methods to ensure robust market analysis. Our research framework systematically evaluates multiple industry-influencing variables, including regulatory frameworks and government policies, prevailing market conditions, competitive intensity levels, historical performance data, current market positioning, technological innovations and disruptions, emerging industry developments, cross-sector business impacts, market volatility patterns, growth prospects, potential market barriers, and strategic challenges facing industry participants.

Segment Covered in the Powered Exoskeleton Market:

by Component (Hardware and Software)

Type (Powered and Passive), By Mobility (Stationary and Mobile)

By Body Part (Lower, Upper, and Full Body)

Vertical (Healthcare, Defense, and Industrial)

by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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Industry Developments

In March 2018, Ekso Bionics formed an educational alliance with the National Stroke Association. This collaboration aimed to enhance public awareness and promote broader access to advanced exoskeleton technologies used in stroke rehabilitation.

Also in February 2018, Norinco a Chinese state-owned enterprise unveiled military-grade exoskeletons designed to increase the load-bearing capabilities of soldiers.

During the same month, engineers from China's Shipbuilding Industry developed the L-70 exosuit, specifically tailored for military applications within the country's armed forces.

Regional Analysis for Powered Exoskeleton Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Most Frequently Asked Questions in the Powered Exoskeleton Market Research Industry:

➠ Who leads the Powered Exoskeleton industry and what's their competitive positioning regarding capacity, performance, and profitability?

➠ What growth opportunities and market challenges do Powered Exoskeleton market vendors face?

➠ Which segments show the highest growth potential and market share distribution?

➠ What factors are driving or limiting Powered Exoskeleton market growth?

➠ What are the dominant sales and distribution strategies in the Powered Exoskeleton industry?

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