Medical Exoskeleton Market Trends 2024 : to Grow at a CAGR of 29.4% from 2022 to 2031

The size of the medical exoskeleton market was anticipated to be $232.49 million in 2021 and is projected to reach $3,044.7 million by 2031, rising at a CAGR of 29.4% from 2022 to 2031, according to a new study named "Medical Exoskeleton Market" released by Allied Market Research.

With the use of a wearable, battery-powered exoskeleton, individuals suffering from weakness or partial paralysis in their lower extremities can now stand and move on level surfaces. The hip and knee joints are powered by motors, and the patient starts all motion by doing certain movements or by utilizing an external controller. Exoskeletons can be used to stabilize a user's body, aid lift and carry weights, or support their body weight. Numerous exoskeleton systems support the upper, lower, and arms. The exoskeleton is not intended for use by patients with greater or more intrusive injuries; instead, it is intended to assist those who have experienced strokes, multiple sclerosis, Parkinson's disease, or spinal cord injuries below C7.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/A11183

Increases in the number of medical exoskeleton product releases and approvals, as well as a rise in the prevalence of orthopedic and neurological disorders, are factors propelling the expansion of the medical exoskeleton market. For example, in March 2021, the Thai Food and Medical Products Approval Authority (Thai FDA) approved the HAL Single Joint Type medical device manufactured by Japanese robotics and technology company CYBERDYNE Inc. The device is intended for people who have paralysis or muscle weakness that limits their range of motion in their upper and lower limbs. 

The market is divided into powered and passive exoskeletons based on kind. The category that dominated the powered exoskeletons market in 2021 is predicted to maintain its dominance throughout the forecast period due to an increase in the number of powered medical exoskeleton device product launches and approvals.

The market is divided into hardware and software segments based on the components. Due to the growth of technology in the healthcare sector and increased public awareness of the software component of exoskeletons, the software segment held a dominant market share in 2021 and is predicted to maintain this trend throughout the forecast period.

Key Findings of The Study

• By type, the powered exoskeletons segment was the highest contributor to the market in 2021.
• By component, the software segment was the highest contributor to the market in 2021.
• By mobility, the mobile segment was the highest contributor to the market in 2021.
• By application, the spinal cord injuries segment dominated the market in 2021 and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

𝐃𝐨 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 https://www.alliedmarketresearch.com/purchase-enquiry/A11183

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical exoskeleton market analysis from 2021 to 2031 to identify the prevailing medical exoskeleton market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the medical exoskeleton market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global medical exoskeleton market trends, key players, market segments, application areas, and market growth strategies.

Key Market Players

Human Motion Technologies, LLC

B-Temia

Rewalk Robotics

CYBERDYNE INC.

ExoAtlet

Ekso Bionics

Ottobock SE & Co. KGaA (suit X)

Ergosante

Wearable Robotics srl

DIH Medical

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