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

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

Browse TOC and LoE with selected illustrations and example pages from medical exoskeleton market report

Request a FREE sample now!

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

For more insights on the medical exoskeleton market share of various regions Request for a FREE sample now!

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

Request for a FREE sample and Get more information on the market contribution of various mobility type

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%.

Request for a FREE sample now!

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

We can help! Our analysts can customize this report to meet your requirements. Get in touch