Global Rigid Exoskeleton Market – Industry Trends and Forecast to 2029

Rigid Exoskeleton Market Analysis and Size

The rising stroke rates across the globe, with the survival rates improving as the rise in the development of medical technologies, have been a vital factor for the market’s growth in healthcare and medical sector. On the other hand, the growing number of trauma injuries and road accidents will further boost the market's growth over the forecasted period.

Global rigid exoskeleton market was valued at USD 13,289.20 million in 2021 and is expected to reach USD 220928.36 million by 2029, registering a CAGR of 42.10% during the forecast period of 2022-2029. 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 in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Rigid Exoskeleton Market Scope and Segmentation

Market Definition

Exoskeletons are wearable devices used to expand the wearer's physical capabilities. The rigid components play a set of functional roles such as excretion, protection, support and sensing. They enable the limb movement with amplified strength and enhance the performance of human tasks.

Global Rigid Exoskeleton Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increasing demand from the healthcare sector

The rising demands of the product in the healthcare and medical sector is the major factor driving the growth of the market over the forecasted period. The rising stroke rates across the globe, with the survival rates improving as the rise in the development of medical technologies, takes place has also been a vital factor for the healthcare and medical sector for the market’s growth. Moreover, orthopedic rehabilitation, mobility issues, physical disabilities, rising geriatric patients and others are the factors that are expected to drive the growth of the market over the forecasted period.

• Rising investments from the military and defence sector

The rise in investments from the military and defense sector for the rigid exoskeletons fuels the market growth. They can be controlled by the computer and can increase an infantryman’s mobility, physical endurance and load-carrying capacity by counteracting overstress on the lower back and legs. These improvisations are expected to drive the growth of the rigid exoskeleton market over the forecasted period.

Opportunities

• Growing Penetration and Technological Advancements

The growing penetration of rigid exoskeleton across various sectors such as medical and defense are the factors estimated to generate lucrative opportunities for the market, which will further expand the rigid exoskeleton market's growth rate in the future. The rising stroke rates, orthopedic rehabilitation, mobility issues, physical disabilities, rising geriatric patients and others are the factors increasing the demand for the rigid exoskeleton in the healthcare sector. Moreover, the factors such as mobility, physical endurance and load-carrying capacity by counteracting overstress delivered to the military personnel by the product are the factors increasing the demands of the product in the defense sector. All these factors generate lucrative growth opportunities for the market during the forecasted period.

Restraints/Challenges

• Stringent government regulations

The stringent government regulations pertaining to medical applications is the factor expected to obstruct market growth. This factor is projected to be challenge for the rigid exoskeleton market over the forecast period.

This rigid exoskeleton 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 rigid exoskeleton market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures

Global Rigid Exoskeleton Market Scope

The rigid exoskeleton market is segmented on the basis of component, mobility, power type, body part and end-user. 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

• Software
• Hardware

Power Type

• Passive
• Powered

Mobility

• Mobile
• Stationary

Body Part

• Full Body
• Upper Extremities
• Lower Extremities

End-User

• Defense
• Healthcare
• Industrial
• Others

Rigid Exoskeleton Market Regional Analysis/Insights

The rigid exoskeleton market is analyzed and market size insights and trends are provided by component, mobility, power type, body part and end-user as referenced above.

The countries covered in the rigid exoskeleton market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the rigid exoskeleton market because of the growing geriatric population and the increasing purchase power of patients within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising disposable income, rising prevalence of strokes and accessibility of government funding within the region.

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.   

Competitive Landscape and Rigid Exoskeleton Market Share Analysis

The rigid exoskeleton 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 rigid exoskeleton market.

Some of the major players operating in the rigid exoskeleton market are

• ROAM ROBOTICS (U.S.)
• Bioservo Technologies AB (Sweden)
• Daiya Industry Co., Ltd. (Japan)
• Ekso Bionics (U.S.)
• The President and Fellows of Harvard College (U.S.)
• Exoskeleton Report LLC (U.S.)
• Panasonic Life Solutions India Pvt. Ltd. (Japan)
• Hocoma (Switzerland)
• Lockheed Martin Corporation. (U.S.)
• PARKER HANNIFIN CORP (U.S.)
• Rex Bionics Ltd. (New Zealand)
• CYBERDYNE INC. (Japan)
• American Honda Motor Co., Inc. (U.S.)
• ReWalk Robotics (U.S.)
• Wearable Robotics srl (Italy)
• Sarcos Technology and Robotics Corporation. (U.S.)
• Focal Meditech BV (Netherlands)

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