Medical Exoskeleton Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, Japan - Size and Forecast 2023-2027

Medical Exoskeleton Market Forecast 2023-2027

The medical exoskeleton market is forecasted to increase by USD 974.84 million at a CAGR of 36.43% between 2022 and 2027. The market experiences significant growth driven by rising incidences of Spinal Cord Injuries (SCIs), expanding utilization of medical exoskeletons in rehabilitation programs, and broader insurance coverage for these advanced devices. Medical exoskeletons, designed to augment mobility and functionality, are witnessing increased adoption across healthcare facilities globally, particularly in rehabilitation centers and hospitals. With a focus on improving patient outcomes and enhancing quality of life, medical exoskeletons are revolutionizing the field of rehabilitation, offering hope and assistance to individuals with mobility impairments. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Medical Exoskeleton Market During the Forecast Period?

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The market is experiencing significant growth due to the increasing demand for assistive devices that enhance mobility and improve the quality of life for individuals with neurological and orthopedic conditions. The Hocma Technology and Exoskeletons America collaborate to develop advanced robotic exoskeletons, such as the Walkers, which enable disabled individuals to perform daily activities and maintain independence. The devices, like the Spinal Cord Injury Exoskeletons and Rehabilitation Exoskeletons, are designed to provide support and assistance in various body parts, including the legs, back, and arms. The Cruches and Quadrilateral Exoskeletons are also gaining popularity for their ability to help patients recover from surgeries and injuries. The market is expected to continue its upward trend as more research and development efforts are dedicated to creating more effective and affordable exoskeleton solutions.

Market Dynamics and Customer Landscape

The market is experiencing significant growth due to the increasing demand for assistive devices that enhance mobility and improve the quality of life for individuals with various medical conditions. These devices, such as the Severe Musculoskeletal Rehabilitation (SMART) exoskeletons and the FDA-regulated ReWalk exoskeletons, are revolutionizing the way rehabilitation and mobility assistance are provided. The application of these advanced technologies in centers like Ekso Bionics and SCIFIT is instrumental in driving the market forward. The use of these exoskeletons in stand-and-transfer and ambulation applications is particularly noteworthy. The adoption of these devices is also influenced by the availability of government and private funding, as well as the growing awareness and acceptance of these technologies among healthcare professionals and patients. The future of the market looks promising, with advancements in technology and increasing demand from various end-users. Our researchers analyzed the data with 2022 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.

Key Market Driver

The increasing incidences of SCIs are notably driving the market growth. A person gets SCI when the vertebrae, ligaments, spinal discs, or nerves at the end of the spinal canal (cauda equina) are damaged, causing a permanent loss of strength, sensation, and function below the injured site. Some of the leading causes of SCI are accidental falls, motor vehicle accidents, trauma, sports, and recreational injuries, and diseases such as cancer, arthritis, osteoporosis, and ankylosing spondylitis. People with SCI can develop partial or complete paralysis and paraplegia.

This calls for the need for rehabilitation and assistive devices such as medical exoskeletons to stabilize and assist interlimb movements in patients with SCI at the T7-L5 and T -T6 levels. The increasing incidence of SCI is increasing the demand worldwide.

Significant Market Trends

The launch of technologically advanced products is the key trend in the market. companies in the market are developing and launching advanced products with improved designs to reduce the weight and bulk of these devices. They plan to increase adjustability, improve durability, add one-handed controls, and make these devices more user-friendly.

Some of the technologically advanced products offered by suppliers include the next-generation Indego Therapy device for use in rehabilitation centers, launched by Parker-Hannifin in September 201, and the EksoNR, the next-generation EksoGT for use in neurorehabilitation, launched by Ekso. Bionics Holdings in August. 2019 etc. An increasing number of technologically advanced product launches are fueling the growth of the global market.

Major Market Challenge

The lack of well-trained caregivers is the major challenge in the market. The application of medical exoskeletons in hospital settings, rehabilitation centers, or home care requires the assistance of highly efficient caregivers who can help move the exoskeleton. However, the availability of such dedicated caregivers to help patients with SCI and mobility impairments is limited.

Factors such as insufficient human resources, lack of standardization of training curricula and accreditation guidelines, and poor coordination between patients and caregivers during exoskeleton ambulation limit the availability of well-trained caregivers. Considering the above-mentioned factors, the lack of well-trained caregivers is hindering the growth of the global market.

Customer Landscape

This market trends and analysis 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Market Segmentation

This report extensively covers market segmentation by mobility type (mobile and stationary exoskeleton), technology (powered and passive exoskeletons), and geography (North America, Europe, Asia, and Rest of World (ROW)). Medical exoskeletons are advanced assistive devices designed for individuals with Stroke, severe musculoskeletal injuries, and neurological disorders, including spinal cord injuries (SCIs), neuropathy, cerebral palsy, and multiple sclerosis. These self-assist exoskeletons enable users to stand and walk with crutches or a walker, providing balance and mobility. FDA regulations and ISO standards guide the development of these regulatory bodies-approved devices. Companies like Ekso Bionics, ReWalk Robotics, BIONIK, B-Temia, Bioventus, Hocoma, Wearable Robotics srl, ExoAtlet, Meditouch, Suit X, MarsiBionics, Focal Meditech, Wandercraft, MEDEXO ROBOTICS, EksoVest, EVOTM, Shoulder Jacket, Thumb Slim, and Cool Sleeve produce various medical exoskeletons. These devices, including shoulder and hip exoskeletons, are customizable and can be configured based on individual requirements. Despite their benefits, medical exoskeletons are more complex and expensive than stationary exoskeletons, requiring a battery pack, lightweight motors, and controllers, all fitted into a compact space. Assistive ambulatory devices, such as wheelchairs and crutches, remain essential alternatives for those who do not yet qualify for medical exoskeletons.

By Mobility Type

The market share growth of the mobile exoskeleton segment will be significant during the forecast period. Mobile exoskeletons are devices that can be used in home care to support knee or hip movement. These devices help patients with spinal cord injury (SCI) and mobility impairments to stand and walk with crutches or a walker to maintain balance. Mobile exoskeletons use a multi-level controller and sensor to determine and enable patient movement. In addition, these devices can be configured and customized according to individual needs.

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The mobile exoskeleton segment was valued at USD 54.27 million in 2017 and continued to grow by 2021. Patients with SCIs and traumatic brain injury using mobile exoskeletons. These products are available in a variety of configurations and can be adjusted to a wide range of leg lengths, hip widths, and foot sizes. In October 2022, a Stanford University research team funded by the National Institutes of Health (NIH) developed an exoskeleton that quickly adapts to the user during normal walking. The researchers developed a model to estimate relative metabolic rates from movement data. This allowed the exoskeleton to carry all the necessary information from portable sensors while walking, eliminating the need to collect data in the laboratory. Such customization and the assistance provided by such devices will fuel the growth of the market during the forecast period.

Key Regions

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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.

The United States is the largest contributor to the North American market due to advanced healthcare facilities, increased prevalence of physical injuries due to SCI, and high demand for self-supporting medical exoskeletons. In 2021, the incidence of SCI in the United States was 5 million. In addition to favorable policies regarding medical extraskeletal coverage and third-party commercial payer reimbursement, the American Spinal Injury Association (ASIA) aims to increase awareness of treatment options available to SCI patients and the availability of key providers. such as Exo Bionics Holdings and Parker-Hannifin Corp. (Parker-Hannifin), which provides medical exoskeletons in the region, is driving the market growth.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ReWalk Robotics Ltd. - The company offers medical exoskeletons such as ReWalk Personal 6.0 Exoskeleton. The company designs and develops robotic exoskeletons that allow individuals with mobility impairments or other medical conditions the ability to stand and walk once again.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• 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.
• Rex Bionics Ltd.
• Sarcos Corp.
• Wandercraft
• Wearable Robotics Srl

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 market 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.

Market Analyst Overview

The market is experiencing significant growth due to the increasing demand for assistive devices that enhance mobility and improve the quality of life for individuals with various medical conditions. These devices, such as ReWalk, Ekso, and SuitX, are designed using advanced technologies like Regulatory bodies such as the FDA are actively supporting the development and adoption of these devices through approvals and reimbursement policies. The market for these devices is segmented based on applications, including Spinal Cord Injuries, Strokes, and Multiple Sclerosis. Assistive technologies like Focus and Evexatech are also playing crucial roles in the development of these devices. The market is expected to grow further due to the rising number of aging populations and the increasing incidence of neurological disorders. The use of robotics and biomimetic designs in exoskeletons is also driving innovation in the market.

The market is witnessing significant advancements in rehabilitation approaches with the integration of innovative technologies like cloud computing, deep learning, and artificial intelligence. These technologies enhance the functionality of the rehabilitation device designed for both upper extremity and lower extremity support, catering to individuals with musculoskeletal disorders in the healthcare sector and beyond. Industries such as aircraft manufacture, shipyards, and foundries are increasingly adopting industrial exoskeletons to improve workplace safety and prevent work-related accidents. With smart sensors and sophisticated control strategies, these exoskeletons offer enhanced neuroplasticity and efficiency, promising a significant return on investment for businesses investing in this form of exoskeleton technology.

Segment Overview

This market analysis and report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Mobility Type Outlook 
  • Mobile exoskeleton
  • Stationary exoskeleton

• Technology Outlook 
  • Powered exoskeletons
  • Passive exoskeletons

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)a
    • Brazil
    • Argentina
    • Rest of the Middle East & Africa

Medical Exoskeleton Market Scope
Report Coverage	Details
Page number	156
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 36.43%
Market growth 2023-2027	USD 974.84 million
Market structure	Fragmented
YoY growth 2022-2023(%)	34.23
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 41%
Key countries	US, Germany, UK, China, and Japan
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	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 Corp., Wandercraft, and Wearable Robotics Srl
Market dynamics	Parent market analysis, Market growth and trends and inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Market growth analysis across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Market forecasting of factors that will challenge the growth of medical exoskeleton market companies

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