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Medical Exoskeleton Market by Mobility Type and Geography - Forecast and Analysis 2020-2024

  • Published: Dec 2019
  • Pages: 139
  • SKU: IRTNTR40722
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The global medical exoskeleton market size has the potential to grow by $351.68 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by mobility type (mobile exoskeleton and stationary exoskeleton) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Bioness Inc., Bionik Laboratories Corp., CYBERDYNE Inc., DIH Group, Ekso Bionics Holdings Inc., GOGOA Mobility Robots, Parker-Hannifin Corp., ReWalk Robotics Ltd., Tyromotion GmbH, and Wearable Robotics.

Market Overview

Medical-Exoskeleton-Market-Size

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Market Competitive Analysis

The market is concentrated, and the degree of concentration will remain the same during the forecast period. ReWalk Robotics Ltd., Tyromotion GmbH, and Wearable Robotics are some of the major market participants. Although the accelerating growth momentum will offer immense growth opportunities, the high costs of medical exoskeletons will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this medical exoskeleton market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this medical exoskeleton market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading medical exoskeleton companies, including:

  • Bioness Inc.
  • Bionik Laboratories Corp.
  • CYBERDYNE Inc.
  • DIH Group
  • Ekso Bionics Holdings Inc.
  • GOGOA Mobility Robots
  • Parker-Hannifin Corp.
  • ReWalk Robotics Ltd. 
  • Tyromotion GmbH
  • Wearable Robotics.

Medical Exoskeleton Market: Segmentation by Region

Medical-Exoskeleton-Market-Share-by-Geography

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North America was the largest market for medical exoskeletons in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The presence of advanced healthcare facilities, increased incidences of physical disabilities, and high demand for self-assistive medical exoskeletons will influence the growth of the medical exoskeleton market in the region.

Almost 35% of the market’s growth will originate from North America during the forecast period. The US, Canada, and Mexico are the key markets for medical exoskeleton in North America. Market growth in this region will be slower than the growth of the market in other geographies.

Medical Exoskeleton Market: Segmentation by Mobility Type

Medical-Exoskeleton-Market-Share-by-Mobility-Type

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Mobile exoskeletons use a multi-leveled controller and sensor to determine and enable ambulation in patients. These devices can be configured and customized based on individual requirements. Moreover, such devices assist patients with SCIs and mobility impairments to stand and walk with crutches or a walker to maintain balance. Furthermore, these devices use voice recognition control, complemented with artificial intelligence (AI) technology, to aid bodily movements in patients. Therefore, manufacturers and researchers are focusing on developing advanced mobile exoskeletons with improved features in terms of adaptive motion control and human-robot interaction control.

Market growth in this segment will be faster than the growth of the market in stationary exoskeleton segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the medical exoskeleton market size.

Medical Exoskeleton Market: Key Drivers and Trends

Medical exoskeletons are used to restore locomotion and improve physical activity by increasing standing and walking time for patients with muscular impairments. It further benefits patients with paraplegia and paralysis by improving their endurance, bowel, and bladder control, bone density and reducing the chances of developing urinary tract infections. Additionally, it improves cardiovascular and metabolic functions, better circulation, increased oxygen intake, and improved sitting posture. For instance, REX offered by Rex Bionics Ltd. is the first hands-free, self-supporting robotic walking device for patients with paraplegia and limited upper body mobility, offering improved metabolic and physiological functions. Therefore, such advantages of medical exoskeletons during rehabilitation will significantly influence medical exoskeleton market growth over the forecast period.

  • 3D printing technology aids in the development of complex medical devices based on customized or personalized preferences. This offers benefits such as improved outcomes, reduced complications, and shortened recovery time.
  • Manufacturers in the market are using 3D printing to develop various medical exoskeletons that absorb shock and prevent the transfer of excessive force directly to the knees.
  • The focus on the development of 3D printed exoskeletons will allow healthcare manufacturers to make changes in the product design without incurring additional costs and additional machinery or tools.
  • During 2020-2024, the market will grow at a CAGR of almost 29%.

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Medical Exoskeleton Market: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will decelerate the medical exoskeleton market growth during the next five years
  • Precise estimation of the global medical exoskeleton market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the medical exoskeleton industry across Asia, Europe, North America, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of medical exoskeleton vendors

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis
  • Value Chain Analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2019
  • Market size and forecast 2019-2024
  • Market outlook

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY MOBILITY TYPE

  • Market segmentation by mobility type
  • Comparison by mobility type
  • Mobile exoskeleton - Market size and forecast 2019-2024
  • Stationary exoskeleton - Market size and forecast 2019-2024
  • Market opportunity by mobility type

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • Asia - Market size and forecast 2019-2024
  • ROW - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • Launch of technologically advanced products
  • Increasing focus on use of exoskeletons featuring existing and emerging
  • technologies
  • Focus on development of 3D-printed medical exoskeletons

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Bioness Inc.
  • Bionik Laboratories Corp.
  • CYBERDYNE Inc.
  • DIH Group
  • Ekso Bionics Holdings Inc.
  • GOGOA Mobility Robots
  • Parker-Hannifin Corp.
  • ReWalk Robotics Ltd. 
  • Tyromotion GmbH
  • Wearable Robotics

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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