Medical Exoskeleton Market: By Component, Type, Extremities, and Region

Market Synopsis:

Global Medical Exoskeleton market is valued at USD 0.21 Billion in 2021 and is projected to attain a value of USD 5.80 Billion by 2028 at a CAGR of 44.8% during the forecast period, 2022–2028. The market for Medical Exoskeletons is expected to surge in 2022 as more patients with muscle-wasting diseases or spinal cord injuries receive robotic assistance to regain mobility. A surge in the number of clinical trials for neuromuscular disorders and spinal cord injuries will significantly influence the industry growth. In addition, technological advancements boosting product range and miniaturization support industry growth. Patient awareness about these products has been growing as well, positively influencing patient demand.

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Market Segmentation:

Global Medical Exoskeleton market is segmented by component (hardware (sensor, actuator, control system, power source), software), type (powered, passive), extremities (lower, upper and full body) & mobility (mobile, stationary) and region.

Key Challenges in the Medical Exoskeleton Market

The main challenges that need to be overcome in order to make this technology more available are reducing the cost, size and weight while maintaining high performance capabilities. The devices should also adapt to different body sizes like youth, adults and elderly. Other challenges include accessibility to healthcare facilities and social acceptance which may be influenced by factors such as gender or cultural background. By overcoming these challenges not only would the general population benefit but there would also be an effect on public health care costs due to increased productivity rates of people with disabilities who use wearable robots for rehabilitation purposes.

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Key Players:

ReWalk Robotics Ltd. (Israel), Ekso Bionics Holdings, Inc. (US), Parker Hannifin Corp (US), Bionik Laboratories Corp (Canada), CYBERDYNE Inc. (Japan), B-TEMIA Inc. (Canada), Rex Bionics Ltd. (UK), Wearable Robotics SRL (Italy), Hocoma AG (a subsidiary of DIH Technologies) (Switzerland), ExoAtlet (Luxembourg), and Gogoa Mobility Robots SL (Spain) are some of the key players in the global Medical Exoskeleton market.

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