Medical Exoskeleton Market by Type (Powered, Passive), by Component (Hardware, Software), by Mobility (Stationary, Mobile), by Extremity (Lower, Upper), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America,) – Global Forecast (2019 to 2027)

Medical Exoskeleton Market Size, Share, Trends, Growth, Analysis, Research

MEDICAL EXOSKELETON MARKET: SUMMARY

The Global Medical Exoskeleton Market is expected to register a CAGR of around 34%, reaching a value of more than USD 3 billion by the end of 2027.

Medical exoskeletons are mainly used to restore or improve people's ability to walk or to lift normal objects. They are used for improving mobility among paraplegics, amputees, and others. Exoskeletons can provide patients with the strength and balance needed to stand and walk.  It benefits patients with paraplegia and paralysis by improving their endurance, bowel, and bladder control, bone density and reducing the chances of developing urinary tract infections. Additionally, it improves cardiovascular and metabolic functions, better circulation, increased oxygen intake, and improved sitting posture.                         

Medical exoskeleton ensures that the wearer can perform enhanced functionalities, more than their conventional capabilities.

Medical Exoskeleton Market

MEDICAL EXOSKELETON MARKET: DRIVERS & OPPORTUNITY

Market Driver:

  • Rising Prevalence of Physical Disability Disorders

Increasing incidences of physical injuries in accidents due to alcohol consumption, traffic volume, and others are expected to drive the demand for medical exoskeleton. Moreover, the rising geriatric population results in a large number of people with disabilities. This is attributed to the fact that elderly people are more prone to conditions such as stoke and severe musculoskeletal injuries resulting from falls.

Furthermore, poor eating habits and unhealthy lifestyle choices among the consumers results in childbirth with physical disabilities. According to the World Health Organization, around 15% of the global population suffers from a certain form of disability.

Thus, the rising prevalence of physical disability disorders across the globe is driving the demand for medical exoskeletons.

  • Increasing Insurance Coverage for Medical Exoskeleton

Presently, insurance coverage for medical exoskeleton is low. Therefore, insurance companies are focused on policy-making for the reimbursement of medical exoskeleton devices.

For instance, in February 2019, Cigna Corporation revised its policy on coverage of exoskeleton medical devices for people with spinal cord injury. Previously, the insurer had a non-coverage policy, but it announced plans to review submissions on a case-by-case basis.

Therefore, increasing insurance coverage for the medical exoskeleton is driving the growth of the medical exoskeleton market.

Market Opportunity:

  • Technological Advancements in the Medical Exoskeleton

Technological advancements such as voice recognition control and artificial intelligence technology, and cognitive stimulation, among others to help with the bodily movements in patients is expected to play a vital role in the growth of the exoskeleton market.

The introduction of soft robotics, as well as the use of flexible materials, is projected to bring growth avenues in the exoskeletons market. Moreover, the use of lightweight advanced materials can reduce the risk of injury, make exoskeletons easier to fit and improve maneuverability.

MEDICAL EXOSKELETON MARKET: KEY SEGMENTS

  • Segmentation based on type: Powered and Passive.
  • Segmentation based on component: Hardware and Software.
  • Segmentation based on mobility: Stationary and Mobile.
  • Segmentation based on extremity: Lower and Upper.
  • Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

MEDICAL EXOSKELETON MARKET: REPORT SCOPE

The report on the medical exoskeleton market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2018-2027

Base Year for Market Calculation

2019

Forecasted Period

2020-2027 (2020 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million)

Segments Included

Type, Component, Mobility, and Extremity

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South Africa

KEY COMPANIES COVERED

  • CYBERDYNE INC. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Ekso Bionics
  • ReWalk Robotics
  • Bionik Laboratories Corp.
  • Rex Bionics Ltd.
  • B-Temia Inc.
  • Bioness Inc.
  • Hocoma
  • GOGOA
  • ExoAtlet
  • Wearable Robotics srl
  • Other Key Companies

MEDICAL EXOSKELETON MARKET: REPORT SEGMENTATION

For the scope of the report, In-depth segmentation is offered by Forencis Research

Medical Exoskeleton Market, by Type

  • Powered
  • Passive

Medical Exoskeleton Market, by Components

  • Hardware
    • Sensors
    • Actuators
    • Power Sources
    • Control Systems
    • Others
  • Software

Medical Exoskeleton Market, by Mobility

  • Stationary
  • Mobile

Medical Exoskeleton Market, by Extremity

  • Lower Extremity
  • Upper Extremity

Medical Exoskeleton Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Key Questions Answered by the Report

  • What are the prominent developments affecting the market worldwide and its growth?
  • What will be the impact of the developments in the market on the industry and on the market players in the future?
  • What are the evolving variations of the market globally?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the globe?
  • How are the key players leveraging in the present market scenario worldwide?

Report Audience

  • Medical Exoskeleton Market Providers
  • Medical Exoskeleton Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Medical Exoskeleton Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE MEDICAL EXOSKELETON MARKET STUDY

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Rising Prevalence of Physical Disability Disorders
      2. Increasing Insurance Coverage for Medical Exoskeleton
    3. Restraint
      1. High Cost of Medical Exoskeleton
    4. Opportunity
      1. Technological Advancements in the Medical Exoskeleton
    5. Trend
      1. Use of 3D Printing Technology for Medical Exoskeleton Manufacturing
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. GLOBAL MEDICAL EXOSKELETON MARKET BY TYPE, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Powered
    3. Passive
  7. GLOBAL MEDICAL EXOSKELETON MARKET BY COMPONENTS, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Hardware
      1. Sensors
      2. Actuators
      3. Power Sources
      4. Control Systems
      5. Others
    3. Software
  8. GLOBAL MEDICAL EXOSKELETON MARKET BY MOBILITY, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Stationary
    3. Mobile
  9. GLOBAL MEDICAL EXOSKELETON MARKET BY EXTREMITY, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Lower Extremity
    3. Upper Extremity
  10. GLOBAL MEDICAL EXOSKELETON MARKET BY REGION, Market Size in USD Million (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  11. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  12. COMPANY PROFILES
    1. CYBERDYNE INC.
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. Ekso Bionics
    3. ReWalk Robotics
    4. Bionik Laboratories Corp.
    5. Rex Bionics Ltd.
    6. B-Temia Inc.
    7. Bioness Inc.
    8. Hocoma
    9. GOGOA
    10. ExoAtlet
    11. Wearable Robotics srl
    12. Other Key Companies
  13. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY

Rep Id : HC 001

Published : February, 2020


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