Global Medical Exoskeleton Market, By Component (Hardware and Software), Type (Powered Exoskeleton and Passive Exoskeleton), Mobility (Stationary and Mobile), Extremity (Lower Extremity, Upper Extremity, and Full Body) – Industry Trends and Forecast to 2031.
Medical Exoskeleton Market Analysis and Size
According to the WHO, an estimated 1.3 million people, which is about 1645.3% of the global population, are experiencing significant disability. This number is on the rise, partly due to population aging and an increase in the prevalence of non-communicable diseases. This growing population of individuals with physical disabilities has fueled the expansion of the global medical exoskeleton market. Medical exoskeletons are used to assist individuals with disabilities, injuries, or vulnerabilities resulting from various medical conditions such as spinal cord injuries (SCI), neuropathy, major trauma such as stroke, and cerebral palsy. These devices are typically employed in controlled environments such as hospitals and rehabilitation centers under the supervision of medical professionals.
The global medical exoskeleton market size was valued at USD 450 million in 2023 and is projected to reach USD 894 million by 2031, with a CAGR of 45.3% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Hardware and Software), Type (Powered Exoskeleton and Passive Exoskeleton), Mobility (Stationary and Mobile), Extremity (Lower Extremity, Upper Extremity, and Full Body)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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Ekso Bionics (U.S.), ReWalk Robotics (Israel), PARKER HANNIFIN CORP (U.S.), CYBERDYNE INC. (Japan), BIONIK (Canada), Rex Bionics Ltd., (U.K.), B-Temia (Canada), Bioventus (U.S.), Hocoma (Switzerland), Wearable Robotics srl (Italy), ExoAtlet (Luxembourg), Meditouch (Israel), Suit X (U.S.), MarsiBionics (Spain), Rehab-Robotics Company Limited (Hong Kong), Myomo Inc. (U.S.), Focal Meditech (Netherlands), Honda Motor Co., Ltd. (Japan), Wandercraft (France), and MEDEXO ROBOTICS (Hong Kong)
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Market Opportunities
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Market Definition
Medical exoskeletons are wearable devices that are designed to support and enhance the body's movements. These robotic devices are typically worn externally and can assist individuals with mobility impairments or physical disabilities. Medical exoskeletons are often used in rehabilitation settings to help patients regain strength and mobility after injuries or surgeries.
Medical Exoskeleton Market Dynamics
Drivers
- Increasing Number of People with Disabilities
The prevalence of disabilities is on the rise globally, primarily due to factors such as the increasing incidence of non-communicable diseases and accidents. This growing population of individuals with disabilities is driving the demand for medical exoskeletons as a means of mobility assistance. Medical exoskeletons offer a way for individuals with disabilities to regain or enhance their mobility and independence, thereby improving their quality of life. As the number of people with disabilities continues to increase, the demand for medical exoskeletons is expected to rise correspondingly, driving market growth.
- Technological Advancements in Exoskeleton Technology
Ongoing advancements in exoskeleton technology include improvements in materials, sensors, and battery life, which are enhancing the functionality and usability of medical exoskeletons. For instance, advancements in sensor technology allow for more precise movement detection and control, while improvements in battery life extend the duration of exoskeleton use between charges. In addition, advancements in materials are making exoskeletons lighter, more comfortable, and easier to wear for extended periods. These technological advancements are enhancing the effectiveness of medical exoskeletons while also increasing their appeal to both patients and healthcare providers, driving market growth.
Opportunities
- Integration with Healthcare Systems
Incorporating medical exoskeleton devices into established healthcare protocols accelerates the adoption and acceptance of medical exoskeletons. This integration not only improves accessibility for patients but also streamlines the process for healthcare providers, making it easier to prescribe and administer exoskeleton-assisted therapies. In addition, integration can lead to better data collection and analysis, enabling healthcare professionals to track patient progress more effectively and tailor treatment plans accordingly. As healthcare systems increasingly recognize the benefits of medical exoskeletons, the demand for these devices is expected to grow, creating new market opportunities.
- Government Initiatives and Funding
Governments around the world are recognizing the importance of assistive technologies in improving the quality of life for individuals with disabilities and are taking steps to promote their development and adoption. This involves funding research and development, as well as providing subsidies or incentives for healthcare providers and patients to adopt these technologies. By incentivizing the use of medical exoskeletons, governments can help drive market growth and make these devices more accessible to a wider range of patients, presenting a significant opportunity for market growth.
Restraints/Challenges
- Safety Concerns of Patients
Safety is a paramount concern in the adoption of medical exoskeletons. The risk of falls and injuries while using these devices can significantly impact patient confidence and adoption rates. Manufacturers are continuously improving the design and functionality of medical exoskeletons to mitigate these risks. They are integrating safety features, such as fall detection systems, emergency stop buttons, and user training programs, to reduce the risk of accidents. Despite these efforts, addressing safety concerns remains a critical challenge for market growth.
- Limited Reimbursement Policies
Reimbursement policies vary widely across different healthcare systems, with some covering the full cost of medical exoskeletons while others provide partial coverage or none at all. This disparity can create financial barriers for patients seeking access to these devices, particularly in regions where out-of-pocket costs are high. The lack of or limited reimbursement policies for medical exoskeletons in some regions can hinder market growth by limiting access for patients.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In December 2023, German Bionic unveiled the Apogee exoskeleton, featuring robotic motors designed to assist healthcare workers in lifting and moving heavy patients with increased ease, reduced strain, and enhanced stamina
- In June 2022, CYBERDYNE Inc. and LIFESCAPES Inc. entered into a business and capital alliance, aiming to advance the field of exoskeleton technology and enhance rehabilitation options for patients suffering from severe paralysis
Medical Exoskeleton Market Scope
The medical exoskeleton market is segmented on the basis of component, type, mobility, and extremity. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Component
- Hardware
- Sensors
- Actuators
- Pneumatic actuator
- Hydraulic actuator
- Electric actuator
- Mechanical
- Shape memory alloy actuator
- Power Sources
- Control Systems
- Others
- Software
- Hardware
- Type
- Powered Exoskeleton
- Passive Exoskeleton
- Mobility
- Stationary
- Mobile
- Extremity
- Lower Extremity
- Upper Extremity
- Full Body
Medical Exoskeleton Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, component, type, mobility, and extremity as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
North America is expected to dominate the market due to its growing elderly population, a demographic that often requires mobility assistance. Additionally, the region's market growth is fueled by increasing demand for self-assist exoskeletons, which offer individuals greater independence and mobility support.
Asia-Pacific is expected to witness significant growth during the forecast period due to the rising incidence of stroke in this region. As strokes become more prevalent, the demand for medical exoskeletons as part of rehabilitation and mobility solutions is expected to surge. This shows the region's significant market potential and the increasing recognition of medical exoskeletons as essential tools in addressing neurological disorders and mobility challenges.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2016-2021.
Competitive Landscape and Medical Exoskeleton Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- Ekso Bionics (U.S.)
- ReWalk Robotics (Israel)
- PARKER HANNIFIN CORP (U.S.)
- CYBERDYNE INC. (Japan)
- BIONIK (Canada)
- Rex Bionics Ltd., (U.K.)
- B-Temia (Canada)
- Bioventus (U.S.)
- Hocoma (Switzerland)
- Wearable Robotics srl (Italy)
- ExoAtlet (Luxembourg)
- Meditouch (Israel)
- Suit X (U.S.)
- MarsiBionics (Spain)
- Rehab-Robotics Company Limited (Hong Kong)
- Myomo Inc. (U.S.)
- Focal Meditech (Netherlands)
- Honda Motor Co., Ltd. (Japan)
- Wandercraft (France)
- MEDEXO ROBOTICS (Hong Kong)
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