North America, Europe and Asia-Pacific Sports Exoskeleton Market, By Offering (Hardware and Software), Type (Active/Powered and Passive), Product Type (Rigid and Soft), Mobility Type (Mobile and Stationary), End User (Sports, Healthcare and Others) - Industry Trends and Forecast to 2030.
North America, Europe and Asia-Pacific Sports Exoskeleton Market Analysis and Size
North America, Europe and Asia-Pacific sports exoskeleton market has grown due to increased demand for robotic exoskeletons. Assess powered exoskeleton is a prescription device composed of an external, powered, motorized orthotic used for medical purposes placed over a person's paralyzed or weakened limbs to provide ambulation. In recent times, allowing wheelchair users to stand and ambulate can influence community mobility and social participation and profoundly combat secondary medical issues associated with lack of weight bearing, such as osteoporosis, urinary tract infections and pressure sores. North America, Europe and Asia-Pacific sports exoskeleton market is in a rapid growth phase due to the rising prevalence of strokes and spinal cord injuries, rising penetration of artificial intelligence and cloud-based technology in exoskeletons.
Data Bridge Market Research analyses that the sports exoskeleton market is expected to reach USD 1,702,581.11 thousand by 2030, at a CAGR of 37.5% during the forecast period. The sports exoskeleton market report also covers pricing analysis, patent analysis and technological advancements in depth.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customisable to 2020-2015)
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Quantitative Units
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USD Thousand
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Segments Covered
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By Offering (Hardware and Software), Type (Active/Powered and Passive), Product Type (Rigid and Soft), Mobility Type (Mobile and Stationary), End User (Sports, Healthcare and Others)
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Countries Covered
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China, Japan, South Korea, Australia, India, Singapore, Taiwan, Thailand, Malaysia, New Zealand, Vietnam, Indonesia, Philippines and Rest of Asia-Pacific, U.K., Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Turkey, Sweden, Belgium, Norway, Denmark, Finland, Hungary and Rest of Europe, U.S., Canada and Mexico.
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Market Players Covered
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ROAM ROBOTICS, ReWalks Robotics, Rex Bionics Ltd., Ski Mojo, Againer, Ekso Bionics, ExoAtlet, CYBERDYNE INC., Hocoma, Laevo BV, Hyundai Motor Group TECH, among others
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Market Definition
Exoskeletons are wearable electromechanical devices that have been developed as augmentative devices to enhance the physical performance of the wearer or as orthotic devices for gait rehabilitation or locomotion assistance. These enable users with appropriate physical abilities to stand, walk, climb stairs and perform ADL. The opposite would be a mechanical prosthetic, such as a robotic arm or leg that replaces the original body part. The opposite of an exoskeleton device would be an autonomous robot that works instead of the operator. Exoskeletons can be made out of rigid materials such as metal or carbon fiber, or they can be made entirely out of soft and elastic parts.
Sports exoskeleton Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail below:
Driver/ Opportunities
- Rise in the penetration of artificial intelligence and cloud-based technology in the exoskeleton
There has been a rise in sports activities, such as the Paralympic game, across the globe, creating a surge in demand for exoskeletons for sportspersons having a disability. The advanced exoskeleton features, such as a strong support system for muscles, durability, customization and environment-friendliness, further attract more customers. Therefore, the demand for artificial-built exoskeleton devices is anticipated to increase further over the forecast period.
- Rise in the prevalence of strokes, spinal cord injuries and paralysis
An increase in demand for wearable exoskeleton equipment globally and a rise in awareness about the health benefits, such as Paexo Thumb, create more demand for the product. Participation of disabled athletes and the need for support to avoid major injuries has tremendously fuelled the exoskeleton market and it is anticipated to drive further over the forecast period.
Restraints/Challenges
- Lack of technological advancement
A hindrance to the growth of this market could be the increasing demand for sustainable development. Exoskeletons often extract more strength from human body muscles than can be replenished quickly. But this effect can be buffered by bringing strict regulations globally.
- Less manufacturing plants in various developed and developing countries
The sports exoskeleton market offers several beneficial factors, such as health benefits and increased capacity, with a high investment cost. The healthcare industry is a cost-intensive affair and the products may span multiple years. This may restrain the growth of the Sports exoskeleton market.
Post-COVID-19 Impact on Sports Exoskeleton Market
COVID-19 created a major impact on the sports exoskeleton market. Almost every country has opted to shut down every production facility except those dealing in producing essential goods. The government has taken strict actions such as shutting down the production and sale of non-essential goods, blocking international trade and many more to prevent the spread of COVID-19. The only business dealing with this pandemic is the essential services allowed to open and run the processes.
The growth of the sports exoskeleton market is rising due to government policies to boost international trade post-COVID. Also, the benefits offered for the sports exoskeleton market for disabled people demand high production for sports exoskeleton products. However, factors such as congestion associated with trade routes and trade restrictions between some nations are restraining the market growth. The shutdown of production facilities during the pandemic has significantly impacted the market.
Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve the technology in the sports exoskeleton market. The companies will bring advanced and accurate solutions to the market. In addition, the government initiatives to boost international trade have led to the market's growth.
Recent Developments
- In October 2022, Ekso Bionics launched a robotic exoskeleton as a better rehabilitation solution for patients. The product will help to provide all the powers a patient need. The solution launch will help the company to provide the rehabilitation center with the best possible assistance device. The company will be able to expand their solution portfolio
- In October, ExoAtlet announced the expansion of its rehabilitation center in Turkey. The center is built to start new courses for all patients who need rehabilitation services. Expansion will help the patients to recover quickly with the best exoskeleton devices.
North America, Europe and Asia-Pacific Sports Exoskeleton Market Scope
The sports exoskeleton market is segmented on offering, type, product type, mobility type and end user. The growth amongst these segments will help you analyse 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.
By Offering
- Hardware
- Software
Based on the offering, North America, Europe and Asia-Pacific sports exoskeleton market is segmented into hardware and software.
By Type
- Active/Powered,
- Passive
Based on type, North America, Europe and Asia-Pacific sports exoskeleton market has been segmented into active/powered and passive.
By Product Type
- Rigid
- Soft
Based on product type, North America, Europe and Asia-Pacific sports exoskeleton market has been segmented into rigid and soft.
By Mobility Type
- Mobile
- Stationary
Based on mobility type, North America, Europe and Asia-Pacific sports exoskeleton market has been segmented into mobile and stationary.
By End-User
- Sports
- Healthcare
- Others
Based on End-User, North America, Europe and Asia-Pacific sports exoskeleton market has been segmented into sports, healthcare and others.
Sports exoskeleton Market Regional Analysis/Insights
The sports exoskeleton market is analysed and insights and trends are provided by country, offering, type, product type, mobility type and end user, as referenced above.
The countries covered in the Sports exoskeleton market report are China, Japan, South Korea, Australia, India, Singapore, Taiwan, Thailand, Malaysia, New Zealand, Vietnam, Indonesia, Philippines and Rest of Asia-Pacific, U.K., Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Turkey, Sweden, Belgium, Norway, Denmark, Finland, Hungary and Rest of Europe, U.S., Canada and Mexico.
China dominates the North America, Europe and Asia-Pacific sports exoskeleton market. The rising infrastructure, commercial and industrial developments in emerging countries such as China and Japan are credited with the market's dominance.
The country section of the report also provides individual market-impacting factors and market regulation changes that impact the market's current and future trends. Data points like downstream and upstream value chain analysis, technological trends, porter's five forces analysis and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America, Europe and Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Sports Exoskeleton Market Share Analysis
The sports exoskeleton market competitive landscape provides details about the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America, Europe and Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points only relate to the companies focus on the sports exoskeleton market.
Some major players operating in the sports exoskeleton market are ROAM ROBOTICS, ReWalks Robotics, Rex Bionics Ltd., Ski Mojo, Againer, Ekso Bionics, ExoAtlet, CYBERDYNE INC., Hocoma, Laevo BV, Hyundai Motor Group TECH, among others.
Research Methodology: North America, Europe and Asia-Pacific Sports Exoskeleton Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. Please request an analyst call or drop down your inquiry to know more.
The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning grids, Market Time Line Analysis, Market Overview and Guide, Company Positioning grids, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, North America, Europe and Asia-Pacific versus Regional and Vendor Share Analysis. To know more about the research methodology, drop an inquiry to speak to our industry experts.
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