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The medical exoskeleton market size is valued to increase by USD 2.87 billion, at a CAGR of 55.77% from 2023 to 2028. Increasing incidences of SCIs will drive the medical exoskeleton market.
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The medical exoskeleton industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The mobile exoskeleton segment is estimated to witness significant growth during the forecast period.
In the realm of wearable robotics, the market continues to evolve, offering innovative solutions for patient mobility and rehabilitation. These devices, which can be worn in homecare settings, provide assistance for individuals with spinal cord injuries and mobility impairments, enabling them to stand and walk with crutches or a walker. Advanced exoskeletons employ a multi-level controller and sensor system to facilitate ambulation, while also offering customizable configurations. However, the complexity of mobile exoskeletons, including the integration of battery packs, lightweight motors, and controllers, contributes to their high design and development costs. The market is driven by the demand for assistive medical devices that integrate patient monitoring, safety mechanisms, force feedback systems, and user interface design.
Key technologies include biomechanical and kinematic modeling, actuator systems, ergonomic design, and exoskeleton frameworks. Clinical trials and research in areas such as gait analysis, exoskeleton design, and neurological rehabilitation are advancing the field, with one study reporting a 25% improvement in walking speed for users of a powered exoskeleton.
The Mobile exoskeleton segment was valued at USD 68.90 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 41% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is experiencing significant growth, particularly in North America, driven by the presence of advanced healthcare facilities, an increasing number of spinal cord injury (SCI) cases, and a high demand for self-assistive devices. In 2022, the US reported an incidence rate of 54 cases per million people for SCIs. This trend is further fueled by favorable policies from third-party commercial payers, increasing awareness through organizations like the American Spinal Injury Association (ASIA), and the presence of key market players such as Ekso Bionics Holdings and Parker-Hannifin Corp.
These exoskeletons offer operational efficiency gains by enabling users to perform daily activities with increased independence and reduced reliance on caregivers. Furthermore, cost reductions and compliance with safety regulations are additional benefits, making medical exoskeletons an attractive investment for healthcare providers and patients alike.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is experiencing significant growth due to the advancements in technology and the increasing demand for rehabilitation solutions that offer enhanced mobility support. Exoskeletons, wearable robotic devices, are designed to assist individuals with various mobility challenges, including those resulting from neurological conditions or injuries. One of the key areas of focus in the development of medical exoskeletons is the integration of advanced control algorithms for gait rehabilitation. These algorithms utilize biomechanical modeling for exoskeleton design to ensure natural and effective movement patterns. Force feedback systems in wearable robotics are another important feature, providing real-time sensory information to patients and therapists for optimal performance and safety. Patient monitoring sensors fusion integrated into medical exoskeletons enable continuous assessment of vital signs and rehabilitation progress. Clinical trials of lower extremity exoskeletons are ongoing to evaluate their efficacy and safety in various patient populations. Actuator selection for exoskeleton applications is a critical consideration, as energy efficiency improvements are essential to extend battery life and enhance user comfort. Human-machine interface design plays a crucial role in the success of rehabilitation exoskeletons, ensuring a seamless interaction between the user and the device. Safety mechanisms are also essential, with ergonomic design considerations and material science advancements in exoskeleton construction ensuring user safety and comfort. Neurological rehabilitation using robotic exoskeletons is a growing application area, with functional electrical stimulation in exoskeleton therapy offering significant potential for restoring motor function. Exoskeletons can be powered by human-machine interfaces, enabling users to control the device with their thoughts or movements. Kinematic modeling for improved exoskeleton control and torque sensor calibration for exoskeleton systems are essential for optimizing performance and accuracy. User interface design for enhancing patient experience is another crucial aspect, with motion capture technology and robotic actuators used for precise and intuitive control. System maintenance procedures for medical exoskeletons are essential to ensure the longevity and reliability of the devices, making them a valuable investment for healthcare providers and patients alike.
The medical exoskeleton market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the medical exoskeleton market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Medical Exoskeleton Industry
Companies are implementing various strategies, such as strategic alliances, medical exoskeleton market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Bionik Laboratories Corp. - The company specializes in medical exoskeleton technology, including robotic therapy solutions, enhancing patient mobility and rehabilitation processes. These advanced devices enable users to regain strength and independence, significantly improving their quality of life. The technology is a game-changer in the healthcare industry, offering innovative solutions for individuals with mobility challenges.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Medical Exoskeleton Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 55.77% |
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Market growth 2024-2028 |
USD 2868.6 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
38.93 |
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Key countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What is the expected growth of the Medical Exoskeleton Market between 2024 and 2028?
USD 2.87 billion, at a CAGR of 55.77%
What segmentation does the market report cover?
The report is segmented by Mobility Type (Mobile exoskeleton and Stationary exoskeleton), Technology (Powered exoskeletons and Passive exoskeletons), and Geography (North America, Europe, Asia, and Rest of World (ROW))
Which regions are analyzed in the report?
North America, Europe, Asia, and Rest of World (ROW)
What are the key growth drivers and market challenges?
Increasing incidences of SCIs, Well-trained caregivers requirement
Who are the major players in the Medical Exoskeleton Market?
Bionik Laboratories Corp., B Temia, Cyberdyne Inc., DIH Group, Ekso Bionics Holdings Inc., Exoatlet Global SA, Focal Meditech, GOGOA Mobility Robots SL, Honda Motor Co. Ltd., Marsi Bionics SL, MYOMO INC., Ottobock SE and Co. KGaA, P and S Mechanics Co. Ltd., Parker Hannifin Corp., Rehab Robotics Co. Ltd., ReWalk Robotics Ltd., Rex Bionics Ltd., Sarcos Technology and Robotics Corp., Wandercraft, and Wearable Robotics Srl
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Mobility Type
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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