Exoskeleton Systems Market Size, Share and Global Trend By Component (Hardware & Software), By Type (Powered & Passive) Exoskeleton, By Mobility (Stationary & Mobile) By Body Part (Lower, Upper, Full Body), By Industry Vertical (Healthcare, Defence, Industrial) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Exoskeleton Systems are mechanical devices or soft materials worn by operators or workers and are used as a capabilities amplifier, assistive device, haptic controller, or for rehabilitation. Exoskeleton technology bridges the gap between fully manual, non-technology enabled tasks, to those operations that demand traditional industrial robots.
Exoskeleton systems are placed on the user’s body to act as amplifiers to augment, reinforce or restore human performance. Exoskeletons are also referred to as robotic suit, powered armor, exo-frame or exosuit, wearable machine, power jacket, etc.
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The growing demand from the Medical Industry or the Health care sector has been a primary driver for the Exoskeleton Systems Market backed by the need of load bearing and load shifting in industries preventing injuries and assuring the safety of employees. The rising number of aging population and health disorders such as paralysis, muscular dystrophy and general fatigue create the most demand for Exoskeleton systems.
High costs associated with Exoskeleton devices and stringent government regulations pertaining to the use of exoskeletons in the medical sector are likely to be limiting factors for market growth. A powered exoskeleton has a very high cost if compared to unpowered exoskeleton which could act as a hindrance for the growth in demand for powered Exoskeletons. Implementation of exoskeletons and associated technologies in commercial health insurance plans by insurance providers presents a huge opportunity for market growth.
KEY PLAYERS COVERED
Some of the major companies that are present in the global gene therapy market are Cyberdyne Inc., Ekso Bionics, Ottobock, Parker Hannifin Corp., Comau, Lockheed Martin, SkelEx, Lowe's Innovation Lab, Daewoo Shipbuilding & Marine Engineering etc.
SEGMENTATION
Segmentation of the Global Exoskeleton Systems Market. | |
By Component | · Hardware · Software |
By Type | · Powered Exoskeleton · Passive Exoskeleton |
By Mobility | · Stationery · Mobile |
By Body Part | · Lower · Upper · Full Body |
By Industry Vertical | · Healthcare · Defence · Industrial |
By Geography | · North America (USA and Canada) · Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Mexico and Rest of Latin America) · Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa) |
REGIONAL ANALYSIS
The global gene therapy market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America followed by Europe are the two largest markets for Exoskeleton systems at present owing to the high rate to technological advancements and early adoption of these systems. However, the Asia Pacific region is expected to dominate the market after 2020 due to the presence of the high number of major players and ongoing industrial, medical and defense advancements in the region would also create a huge demand for the Exoskeleton systems market in Asia Pacific.
Key Industry Developments |
·In March 2017, Ottobock acquired BionX Medical Technologies (US), a manufacturer of active prosthetic foot and ankle solutions. ·In January 2018, the new CDX joint Exoskeleton was developed to boost the productivity and promote faster movements. ·In May 2018, Sarcos Robotics secured US$ 30 Mn in series B funding to boost the production of a new full body Exoskeleton design to boost up the productivity and assure safety of user. . |
- Ongoing
- 2023
- 2019-2022
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