DUBLIN--(BUSINESS WIRE)--The "Exoskeleton Market Share, Growth & Analysis By Mobility Type, By End-User, By Type, By Technology, By Anatomy, Segment Forecasts To 2027" report has been added to ResearchAndMarkets.com's offering.
Rising incidences of patients with body movement disorders such as multiple sclerosis, Parkinson's disease, and strokes are major factors influencing the market growth.
Market Size-USD 310 million in 2019, Market Growth-CAGR of 43.4 %, Market Trends-Increase in disposable income and rising health concerns
The Exoskeleton Market is expected to reach USD 5.73 Billion by 2027.
This can be mainly associated with the increasing number of patients with body movement disorders, such as multiple sclerosis, Parkinson's disease, and strokes. This would increase the need to study and ensure the safety of targeted and specific therapies, circumvent potential shortcomings, and evaluate their outcomes. As a result of their high effectiveness, many military and healthcare companies are including exoskeleton devices to offer highly effective results to the large population experiencing target diseases.
The exoskeleton is an external skeleton that provides protection and support to an animal's body, unlike the internal skeleton or endoskeleton in humans. In practice, some of the more essential kinds of exoskeletons are known as "shells." Exoskeletons are located on the user's body and act as amplifiers that increase, strengthen, or restore human performance. The opposite would be an automatic prosthetic, such as a robotic leg or arm that substitutes the original body part.
Accelerated growth in healthcare industries, increasing prevalence of chronic diseases, rise in population, rise in R&D investment in life sciences, increasing number of innovative product launches, and technological advancements in healthcare industries are some important factors for market growth in North America. The region is estimated to account for the largest share of 22.3% of the market in 2019.
Further key findings from the report suggest
- The electric actuator technology segment is expected to grow at a rate of 43.4% during the forecast period.
- The largest share of electric actuators technology is due to its low cost over pneumatic or hydraulic actuators and their accurate control of acceleration, speed, and position.
- The emergence of a large number of commercialized electric actuators is another critical factor anticipated to boost the market share in the coming years.
- The stationary exoskeleton segment accounts for a market share of 45.6% in 2019.
- Due to the predominance of a vast number of new entrants, established manufacturers, and suppliers in the market, the industry is extremely competitive.
- Important factors for the growth of the segment are the rising predominance of spinal cord injuries (SCIs) and increasing usage of stationary type in rehabilitation.
- The increasing predominance of nervous system trauma is one of the crucial factors expected to drive the application of exoskeletons in the healthcare industry.
- The healthcare end-user segment is expected to grow at a rate of 43.4% during the forecast period.
- Patients suffering from SCI (spinal cord injuries) are one of the principal end-users of these products.
- There has been an improvement in the adoption of these devices for disabled and elderly patients in rehabilitation therapies.
- The importance of exoskeletons in the military, helping injured soldiers in movement, and lifting heavy objects is also a key factor for growth.
- Asia Pacific is forecast to witness the fastest CAGR of 43.6% during the forecast period. Rising healthcare expenditure and increasing concerns due to the various benefits of these tools are significant growth drivers for the market in this region.
- Economic development, coupled with continually increasing per capita healthcare investment in emerging countries, such as India, China, and Singapore, is expected to create high growth opportunities.
- Innovations and technological trends in treatment and increased healthcare facilities are expected to drive the growth further
- Key participants include Lockheed Martin Corporation, ReWalk Robotics, Parker Hannifin, REX Bionics, Ekso Bionics, ATOUN Inc., Cyberdyne, Hocoma, Wandercraft, Revision Military, and Honda Motor Co. Ltd.
Key Topics Covered:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Exoskeleton Market Segmentation & Impact Analysis
4.1. Exoskeleton Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Technology advancement
18.104.22.168. Growing demand for robotic rehabilitation from healthcare sector
22.214.171.124. High R&D investment for development of the exoskeleton technology
4.2.3. Market restraints analysis
126.96.36.199. Stringent government regulations
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Chapter 5. Exoskeleton Market By Mobility Type Insights & Trends
5.1. Mobility Type Dynamics & Market Share, 2019 & 2026
5.2. Mobile Exoskeleton
5.3. Stationary Exoskeleton
Chapter 6. Exoskeleton Market By Technology Insights & Trends
6.1. Technology Dynamics & Market Share, 2019 & 2026
6.2. Electric Actuator
6.3. Fuel Cell
6.4. Pneumatic Actuator
6.6. Electric Servo
6.7. Shape Memory Alloy Actuator
Chapter 7. Exoskeleton Market By End User Insights & Trends
7.1. End User Dynamics & Market Share, 2019 & 2026
7.3. Military & defense
Chapter 8. Exoskeleton Market By Type Insights & Trends
8.1. Type Dynamics & Market Share, 2019 & 2026
Chapter 9. Exoskeleton Market By Anatomy Insights & Trends
9.1. Anatomy Dynamics & Market Share, 2019 & 2026
9.2. Lower Body
9.3. Full Body
9.4. Upper Body
Chapter 10. Exoskeleton Market By Regional Outlook
Chapter 11. Competitive Landscape
11.1. Market Revenue Share By Manufacturers
11.2. Manufacturing Cost Breakdown Analysis
11.3. Mergers & Acquisitions
11.4. Market positioning
11.5. Strategy Benchmarking
11.6. Vendor Landscape
Chapter 12. Company Profiles
- Lockheed Martin Corporation
- ReWalk Robotics
- Parker Hannifin
- REX Bionics
- Ekso Bionics
- ATOUN Inc.
- Revision Military
- Honda Motor Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/dypk1t