Dublin, July 01, 2024 (GLOBE NEWSWIRE) -- The "Medical Exoskeleton Market: Industry Trends and Global Forecasts, till 2035 - Distribution by Body Part Covered, Mode of Operation, Form of Exoskeleton, Mobility, End Users, and Key Geographical Regions" report has been added to ResearchAndMarkets.com's offering.
The global medical exoskeleton market is anticipated to grow from $1.09 billion in 2024 to $8.70 billion by 2035, growing at a CAGR of 20.8% during the forecast period from 2024 to 2035.
One of the key objectives of this market report was to estimate the current market size, opportunity and the future growth potential for medical exoskeleton companies, over the forecast period. Based on multiple parameters, likely adoption trends and through primary validations, the analyst has provided an informed estimate on the market evolution during the forecast period 2024-2035.
The potential for medical exoskeletons is immense, with a vast addressable market stemming from the significant patient population in need of mobility assistance. Statistics suggest that neurological diseases represent a significant public health challenge, with an estimated global burden of over one billion people affected. According to the Lancet Neurology Commission, traumatic brain injury (TBI) is a global public-health problem, which afflicts 55 million people worldwide, whereas another research suggests that currently, 20.6 million individuals are suffering from spinal cord injury.
Despite the immense population with mobility disorders, the exoskeleton market remains relatively niche, gradually gaining traction. It can be attributed to various factors, including the high costs associated with exoskeleton technology and a general lack of awareness among both patients and healthcare providers.
However, as technological advancements continue and awareness spreads, the medical exoskeleton market is poised for expansion, promising improved accessibility and quality of life for individuals in need of mobility support. In fact, several companies are developing exoskeleton technology integrated with advanced features such as controllers and software applications that enable users and clinicians to set goals, adjust assistance levels, and analyze movement patterns to meet personalized rehabilitation plans.
Market Share by Key Geographical Regions
Based on the key geographical regions, the medical exoskeleton market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America dominated the medical exoskeletons market and accounted for the largest revenue share in 2024. Further, harmonization of regulations is a positive development, which is likely to drive the adoption of exoskeletons, especially in the developing countries. As the prices of these rehabilitating devices drop, the medical exoskeleton market in the Asia-Pacific region is expected to pick up momentum, exhibiting a relatively higher growth rate.
Medical Exoskeleton Market: Key Insights
The market report features an extensive study of the current market landscape, market size, market forecast and future opportunities for the companies involved in the medical exoskeletons industry. The market report highlights the efforts of several medical exoskeleton companies engaged in this rapidly growing segment of the exoskeleton industry. Key takeaways of the market report are briefly discussed below.
Market Landscape Analysis: Medical Exoskeleton Companies
The current landscape features the presence of over 95 large, mid-sized and small exoskeleton companies. These exoskeleton companies design, develop and commercialize medical exoskeleton technology for patients, healthcare providers and researchers. The market landscape is dominated by the presence of small players, with less than 50 employees; some examples of such medical exoskeleton companies include (in alphabetical order) BIOMOTUM, Endoenergy Systems, EXOesqueleto REHAB, Hellstern medical and HoustonBionics. In terms of the product portfolio of medical exoskeleton companies, 50 products are equipped with gamification features.
Market Trends Analysis: Rise in Strategic Deals in the Medical Exoskeleton Market
The number of partnerships related to medical exoskeleton technology have increased significantly at a CAGR of 55% during the time period of the study. Stakeholders in the industry are known to adopt a variety of partnership models in order to collaborate with other companies / organizations. Such deals enable the exoskeleton developers to expand their product portfolios, and also gain additional capabilities related to advanced technologies.
Technological Advancements in the Exoskeleton Market: Exosuit Technology Providing Lighter and More Flexible Options
Exosuits utilize soft, fabric-based materials and are designed to seamlessly integrate with the user's body movements, resulting in a more natural and comfortable experience. However, despite their advantages, exoskeletons employing exosuit technology may not provide as much assistance or support as rigid exoskeletons to larger areas of the body. As a result, these are primarily designed for targeted body parts, such as thumb, hand, wrist, angle and wrist. Currently, only 33% of medical exoskeletons incorporate the soft exosuit technology.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 224 |
| Forecast Period | 2024 - 2035 |
| Estimated Market Value (USD) in 2024 | $1.09 Billion |
| Forecasted Market Value (USD) by 2035 | $8.7 Billion |
| Compound Annual Growth Rate | 20.8% |
| Regions Covered | Global |
Medical Exoskeleton Market Share Insights
- Historical Trend: 2018-2023
- Base Year: 2023
- Forecast Period: 2024-2035
- Market Size in 2024: $1.09 Billion
- CAGR: 20.8%
- Body Part Covered
- Upper Extremity
- Lower Extremity
- Full Body
- Mode of Operation
- Powered
- Passive
- Hybrid
- Form
- Rigid
- Soft
- Mobility
- Fixed / Supported
- Mobile
- End Users
- Patients
- Healthcare Providers
- Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Key Medical Exoskeleton Companies Profiled
- Bionic Yantra
- CYBERDYNE
- Ekso Bionics
- ExoAtlet
- Fourier Intelligence
- Gloreha
- Guangzhou Yikang Medical Equipment
- Hexar Humancare
- Hocoma
- MediTouch
- Milebot Robotics
- Myomo
- Neofect
- NextStep Robotics
- Panasonic
- ReWalk Robotics
- Rex Bionics
- Roam Robotics
- Trexo Robotics
- Tyromotion
- U&O Technologies
- (Full list of 95+ companies captured is available in the report)
- Customization Scope: 15% customization available
- Excel Data Packs (Complimentary)
- Medical Exoskeleton Market Landscape
- Product Competitiveness Analysis
- Partnership and Collaboration Analysis
- Patent Analysis
- Blue Ocean Strategy
- Market Forecast and Opportunity Analysis
For more information about this report visit https://www.researchandmarkets.com/r/nny4qe
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