Global Medical Exoskeleton Market to 2027 - Featuring Ekso Bionics, Ottobock and Bionic Power Among Others - ResearchAndMarkets.com

The "Medical Exoskeleton Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The medical exoskeleton market by revenue is expected to grow at a CAGR of over 36% during the period 2022-2027.

Government is responsible for ensuring that exoskeleton products sold in its region are accepted and meet market requirements. As a result, the government has enacted appropriate legislation to ensure that goals are achieved, product safety is the primary objective, and that the sale of unsafe products does not harm citizens.

However, if commercialization involves technical product developments, a technical, regulatory framework in which the appropriate regional authorities enact legislation applicable to all levels of government (national, state, state, local, etc.) covering product services and actions.

Governments and regulators' safety is a major concern before new products are generally commercially available. In this regard, only a few exoskeletons such as ReWalk, Ekso Bionics, and Cyberdyne have been certified to comply with the evolving international safety guidelines in medical and non-medical applications essential for the market growth.

The following factors are likely to contribute to the growth of the medical exoskeleton market.

• The Emergence of Soft Actuator Medical Exoskeletons
• Focus on Development of 3D- Printed Medical Exoskeletons
• Increasing Focus on Developing Brain-Machine Interface Based Medical Exoskeleton
• Increasing Number of People with Physical Disabilities
• Recent Advancements in the Medical Exoskeleton
• Increasing Insurance Coverage for Medical Exoskeleton

Segmentation Analysis

• Powered exoskeletons accounted for the larger share of the overall exoskeleton market in 2020. The high cost of powered exoskeletons leads to a higher market share of the technology than passive exoskeletons. Passive exoskeletons are often cheaper and lighter than powered exoskeleton, thereby, the combination of powered and passive exoskeleton characteristics in a new class of pseudo-passive (or semi-active) devices may provide a promising future direction for exoskeleton technology.
• The ReWalk exoskeleton developed by ReWalk Robotics (Marlborough, MA, US) is a LEE that enables motorized movement of the hip and knee so that people with SCI can stand and walk upright. It is the first exoskeleton suit, approved by the US Food and Drug Administration in 2014, that can be used as a personal device at home and in the community, which propel the market's growth.

by Modality

• Powered Exoskeletons
• Passive Exoskeletons

by Extremity

• Lower Extremity Exoskeletons
• Upper Extremity Exoskeletons

by Mobility

• Mobile Exoskeletons
• Stationary Exoskeletons

by Usage

• Rehabilitation Exoskeletons
• Augmentation Exoskeletons

Vendor Analysis

• Massachusetts-based exoskeleton maker ReWalk Robotics. The company`s latest product, the augmentative ReWalk 6.0, uses cutting-edge technology to allow individuals with paraplegia, a spinal cord injury resulting in complete or incomplete paralysis of the legs, to stand, turn and walk.
• Ekso Bionics, a Singapore-based company, announces a partnership with Australia's Royal Rehab to further expand the use of robotic exoskeletons in the Asia-Pacific region.
• California's Ekso Bionics' Ekso GT is also a major rehabilitation exoskeleton, equipped with smart assist software, the physiotherapist can change the support for each leg device individually. This ability allows Ekso GT to rehabilitate more patients, from those too weak to walk to those who are almost independent, eventually for the market's growth.

Market Dynamics

Opportunities & Trends

• Emergence of Soft Actuator Medical Exoskeletons
• Development Of 3D-Printed Medical Exoskeletons
• Increasing Focus on Brain-Machine Interface Based Medical Exoskeletons

Growth Enablers

• Increasing Number of People with Physical Disabilities
• Recent Advancements in Medical Exoskeletons
• Increasing Insurance Coverage for Medical Exoskeletons

Restraints

• High Cost of Medical Exoskeletons
• Greater Preference for Wheelchairs

Companies Mentioned

• Ekso bionics
• ReWalk Robotics
• PARKER HANNIFIN
• Ottobock
• CYBERDYNE
• Rex Bionics
• DIH Medical
• Wearable Robotics
• Gogoa
• ExoAtlet
• Panasonic
• Tyromotion
• Honda Motor
• B-Temia
• Bionic Power
• ANGEL ROBOTICS
• AXOSUITS
• BAMA Teknoloji
• Biomotum
• Bionic Yantra
• Bioservo Technologies
• Fourier Intelligence
• FREE Bionics
• Gloreha Idrogenet
• Harmonic Bionics
• HEXAR Humancare
• Human in Motion Robotics
• InteSpring
• MARSI BIONICS

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