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Exoskeleton Market Size - By Component(Hardware(Sensors, Actuators, Power Sources, Control Systems), Software), by Type(Powered, Non-powered), by Mobility(Stationary, Mobile), by Body part(Lower Extremities, Upper Extremities, Full Body), by Treatment type(Rehabilitation, Augmentation), by Application(Healthcare, Defence, Industrial) & Region - Forecasts 2023 - 2033

  • PUBLISHED ON
  • 1970-01-01
  • NO OF PAGES
  • 261
  • CATEGORY
  • Healthcare & Life Sciences

Exoskeleton Market: Description

Exoskeletons are wearables that are controlled by a combination that consists of pneumatics, electric motors, hydraulics, levers as well as a blend of technology that provides greater endurance and strength in the movement of limbs. Exoskeleton robots are a kind of service robot for professionals which is utilized in various applications to replicate, enhance or improve the body's natural movement. They provide crucial support for human movements and have potential applications that range from consumer items up to deployment in the military. The exoskeleton assists with the shoulders, waist, and thigh, as well as aid in lifting and grasping of large items and reduce back strain.


Exoskeleton Market: Overview

According to the report published by We Market Research, the Global Exoskeleton Market Size Was Worth USD 480 Million in 2022 and Is Projected to Grow to USD 3,168 Million by 2033, at a CAGR of 19.4% Over The Forecast Period of 2023 to 2033.

The use of robotics is becoming increasingly popular in the field of healthcare and is accelerating the growth of this market. Robot-assisted therapy systems are utilized in rehabilitation procedures due to their numerous advantages like performing repetitive motions in goal-oriented tasks, assessing various functional and physiological parameters in rehabilitation exercises, increasing motivation and assisting with exercises at home and training. Robots are used extensively to support people recovering from strokes or other serious neurological disorders. The demand for rehabilitation robotics is rapidly increasing. As per the International Federation of Robots' World Robotics 2019 - Service Robots, 2,400 rehab robots were sold in 2018, which is an increase of 83% compared to 2017.

The advantage of robots over exercises guided by therapists is that the device makes sure that the exercise is executed in an exact manner each time, thus teaching the brain muscles to perform the exercises on their own. The amount of repetitions per session can be increased with the help of robots in rehabilitation. The robots record the information related to the patient’s performance, allowing the therapist and doctor to precisely evaluate improvements.

Exoskeleton Market: Key Trends

·         Combination of Smart Technology and Robots To Boost The Market

Exoskeleton robots are becoming increasingly popular in various industries across the globe owing to their advanced technical abilities. The medical, logistics, and engineering sectors have all benefited from the development of technologies like interactivity Internet of Things (IoT) and artificial intelligence (AI) and interactive learning, virtual guidance, and digital assistants for robots. In addition, the field of robotics has undergone significant changes due to the introduction of methodologies, such as human-in-the-loop optimization, that has been optimized in robotics. The real-time measurement of human physiological data like the rate of breathing can be used to adjust the settings of control and other functions within these methods. In addition, reputed companies offer rechargeable battery packs and detachable torque assistors, and various operating algorithms that support users who are unable to lift heavy weights and other repetitive or demanding tasks.


·         Rise in Demand for the Robotic Rehabilitation from the Healthcare Sector

Robot-assisted therapy devices are highly utilized in rehabilitation processes because they offer countless advantages in the repetition of moves during goals-directed tasks as well as the evaluation of various functional and physiological parameters during rehabilitation exercises, enhancing motivation, as well as assisting with training and exercises at home. Exoskeletons used for these purposes have increased partly due to the growth in the number of physically disabled individuals, particularly those with geriatric disabilities. As per the Statistics Bureau of Japan, in 2019, the number of people who were 65 years old and above reached 35.89 million, representing 28.4% of the total population. This does not just mean an increase in users of humanoid robots but also indicates that the number of individuals who care for the disabled and elderly will reduce.

Exoskeleton Market: COVID-19 Impact

The COVID-19 pandemic had a minor impact on the marketplace that was mainly associated with the nationwide lockdowns announced in 2020 to curb the virus spread. Also, the population most affected by the virus were the elderly population, the highest users of exoskeletons. There are many countries that are still in complete or partial lockdowns and have suspended trade with other nations, leading to a drop in orders for exoskeletons in the market. This in turn is having a direct impact on direct sales operations affecting lot of companies of major players.


Key Players:

·         Ekso Bionics

·         Hocoma

·         Lockheed Martin Corporation

·         Suit X (U.S. Bionics, Inc.)

·         Rex Bionics Plc.

·         RB3D

·         ReWalk Robotics Ltd

·         Cyberdyne, Inc.

·         ActiveLink (Panasonic Corporation)


Exoskeleton Market: Segmentation Analysis

Exoskeleton Market based on component

·         Hardware

   o Sensors (gyroscopes, microphones, accelerometers, tilt sensors, force/torque sensors, position sensors, and others

   o Actuators (electrical, pneumatic, hydraulic, and piezoelectric)

   o Power Sources

   o Control Systems

   o Other hardware components

·         Software

The software segment is anticipated to showcase lucrative expansion trends over the forecast duration owing to technologies advancements in the field which in turn will result in the rise of complexities in autonomous operations, artificial intelligence (AI), and inter device connectivity of exoskeletons. These complexities can be managed and assisted efficiently by software rather than hardware.


Exoskeleton Market based on Mobility

·         Mobile

·         Stationary

The Mobile segment dominated the global market and accounted for the largest revenue share exceeding 60.7%, and also registered the largest volume share of 61.7%. The mobile segment is expected to register the fastest growth over the forecast period. This high share and massive growth is attributed to the growth in R&D activities and boost in demand for motor-equipped robots for helping human body mechanisms.


Exoskeleton Market based on Type

·         Powered

·         Non Powered

The Powered segment led the Global Exoskeleton market and accounted for more than 74.7% share of the global revenue share and volume share of 67.6%. This high share is attributed to the installation of powered exoskeleton solutions in various industries to boost productivity and enhance personal safety. There are several benefits that have been associated with powered technology products, such as smooth lifting motions, strain reduction on workers' bodies, productivity enhancement, and strength boosting. However, the passive technology segment is anticipated to register substantial growth over the forecast period.

Exoskeleton Market based on Application

·         Healthcare

·         Defense

·         Industrial

·         Others

The healthcare segment has been dominating the Exoskeleton market and held the largest revenue share of 51.3% and volume share of 51.8% in 2021. This high share and volume are attributed to the adoption of these products in the rehabilitation centers, rise in the number of spinal cord injuries (SCIs). Furthermore, rising cognizance towards technological advancement system and growth in a number of regulatory approvals.


Exoskeleton Market based on Body Part

·         Lower Extremities

·         Upper Extremities

·         Full Body

The lower extremities segment is expected to capture significant market share over the stipulated timeline owing to the fact that the most common mobility issues are related to the lower part of the body. Hence, lower-body exoskeletons are widely adopted across the healthcare sector.


Exoskeleton Market based on Treatment Type

·         Rehabilitation

·         Augmentation


Exoskeleton Market: Regional Analysis

North America dominated the global exoskeleton market and accounted for the largest share of the global revenue of 47.0% and volume share of 28.4% in 2021. This high share and volume are ascribed to the growth in public and private support, rising population of disabled individuals, rising business partnership and collaboration among the key players, and surge in expenditure on research activities.



1. Global Exoskeleton Market Introduction and Market Overview

1.1. Objective of the Market Research Study

1.2. Exoskeleton Market Definition & Description

1.3. Research Data Parameters & Reporting Timelines

1.3.1. Historical Data Reporting Years – 2020 to 2021

1.3.2. Projected Data Reporting Years – 2023 to 2033

1.3.3. Reporting Data Parameters – Value (US$ Million) & Volume (Units)

1.4. Global Exoskeleton Market Scope and Market Estimation

1.4.1. Global Exoskeleton Overall Market Size (US$ Million) & (Units), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)

1.4.2. Global Exoskeleton Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033

1.5. Exoskeleton Market Segmentation

1.5.1. Component of Global Exoskeleton Market

1.5.2. Type of Global Exoskeleton Market

1.5.3. Mobility of Global Exoskeleton Market

1.5.4. Body part of Global Exoskeleton Market

1.5.5. Treatment type of Global Exoskeleton Market

1.5.6. Application of Global Exoskeleton Market

1.5.7. Key Regions of Global Exoskeleton Market


2. Global Exoskeleton Market - Executive Summary

2.1. Global Exoskeleton Market – Summary & Snapshot

2.2. Global Exoskeleton Market, By Component (US$ Million) & (Units)

2.3. Global Exoskeleton Market, By Type (US$ Million) & (Units)

2.4. Global Exoskeleton Market, By Mobility (US$ Million) & (Units)

2.5. Global Exoskeleton Market, By Body part (US$ Million) & (Units)

2.6. Global Exoskeleton Market, By Treatment type (US$ Million) & (Units)

2.7. Global Exoskeleton Market, By Application (US$ Million) & (Units)

2.8. Global Exoskeleton Market, By Geography (US$ Million) & (Units)

2.9. Global Exoskeleton Market Outlook & Future Opportunities


3. Exoskeleton Market Trends, Outlook, and Factors Analysis

3.1. Global Exoskeleton Market Industry Development Trends under COVID-19 Outbreak

3.1.1. Global COVID-19 Status Overview

3.1.2. Influence of COVID-19 Outbreak on Global Exoskeleton Market Industry Development

3.1.3. Pre & Post COVID-19 Trends and Scenarios

3.2. Market Dynamics (Growth Impacting Factors & Rationales)

3.2.1. Drivers

3.2.1.1. Increasing number of people with physical disabilities

3.2.1.2. Subsequent growth in the demand for effective rehabilitation approaches

3.2.1.3. Driver 3

3.2.1.4. Driver 4

3.2.1.5. Driver 5

3.2.2. Restraints

3.2.2.1. Regulatory Challenges for securing approvals for medical applications of exoskeletons

3.2.2.2. Restraint 2

3.2.3. Opportunities

3.2.3.1. Increasing insurance coverage for medical exoskeletons in several countries

3.2.3.2. Growing demand from the healthcare sector for robotic rehabilitation, advancements in robotic technologies

3.2.3.3. Opportunity 3

3.2.4. Impact Analysis of Drivers and Restraints

3.3. Ecosystem/ Value Chain Analysis

3.4. Porter’s Five Forces Analysis

3.5. SWOT Analysis

3.6. PEST Analysis

3.7. Average Selling Prices and Pricing Trends Analysis of Exoskeleton Market

3.8. Technological Roadmap

3.9. Key Investment Pockets of Exoskeleton Market

3.9.1. By Component

3.9.2. By Type

3.9.3. By Mobility

3.9.4. Body Part

3.9.5. Treatment type

3.9.6. Application

3.9.7. By Regions


4. Global Exoskeleton Market: Estimates & Historic Trend Analysis (2020 to 2021)

4.1. Global Exoskeleton Market, 2020 – 2021 (US$ Million) & (Units)

4.2. Global Exoskeleton Market, By Component, 2020 to 2021 (US$ Million) & (Units)

4.3. Global Exoskeleton Market, By Type, 2020 to 2021 (US$ Million) & (Units)

4.4. Global Exoskeleton Market, By Mobility, 2020 to 2021 (US$ Million) & (Units)

4.5. Global Exoskeleton Market, By Body part, 2020 to 2021 (US$ Million) & (Units)

4.6. Global Exoskeleton Market, By Treatment type, 2020 to 2021 (US$ Million) & (Units)

4.7. Global Exoskeleton Market, By Application, 2020 to 2021 (US$ Million) & (Units)

4.8. Global Exoskeleton Market, By Region, 2020 to 2021 (US$ Million) & (Units)


5. Global Exoskeleton Market Estimates & Forecast Trend Analysis, by Component

5.1. Global Exoskeleton Market Share (%) Estimates and Forecasts, by Component, 2022 & 2033

5.2. Global Exoskeleton Market Size (US$ Million) & (Units) Estimates and Forecasts, by Component, 2023 to 2033

6.1.1. Hardware

6.1.1.1. Sensors

6.1.1.1.1. Gyroscopes

6.1.1.1.2. Microphones

6.1.1.1.3. Accelerometers

6.1.1.1.4. Tilt Sensors

6.1.1.1.5. Force/Torque sensors

6.1.1.1.6. Position Sensors

6.1.1.1.7. Others

6.1.1.2. Actuators

6.1.1.2.1. Electrical

6.1.1.2.2. Pneumatic

6.1.1.2.3. Hydraulic

6.1.1.2.4. Piezoelectric

6.1.1.3. Power Sources

6.1.1.4. Control Systems

6.1.1.5. Other Hardware Components

6.1.2. Software


7. Global Exoskeleton Market Estimates & Forecast Trend Analysis, by Type

7.1. Global Exoskeleton Market Share (%) Estimates and Forecasts, by Type, 2022 & 2033

7.2. Global Exoskeleton Market (US$ Million) & (Units) Estimates and Forecasts, by Type, 2023 to 2033

7.2.1. Powered

7.2.2. Non-powered


8. Global Exoskeleton Market Estimates & Forecast Trend Analysis, by Mobility

8.1. Global Exoskeleton Market Share (%) Estimates and Forecasts, by Mobility, 2022 & 2033

8.2. Global Exoskeleton Market (US$ Million) & (Units) Estimates and Forecasts, by Segment _3, 2023 to 2033

8.2.1. Stationary

8.2.2. Mobile


9. Global Exoskeleton Market Estimates & Forecast Trend Analysis, by Body part

9.1. Global Exoskeleton Market Share (%) Estimates and Forecasts, by Mobility, 2022 & 2033

9.2. Global Exoskeleton Market (US$ Million) & (Units) Estimates and Forecasts, by Segment _3, 2023 to 2033

9.2.1. Lower Extremities

9.2.2. Upper Extremities

9.2.3. Full Body


10. Global Exoskeleton Market Estimates & Forecast Trend Analysis, by Treatment type

10.1. Global Exoskeleton Market Share (%) Estimates and Forecasts, by Mobility, 2022 & 2033

10.2. Global Exoskeleton Market (US$ Million) & (Units) Estimates and Forecasts, by Segment _3, 2023 to 2033

10.2.1. Rehabilitation

10.2.2. Augmentation


11. Global Exoskeleton Market Estimates & Forecast Trend Analysis, by Application

11.1. Global Exoskeleton Market Share (%) Estimates and Forecasts, by Mobility, 2022 & 2033

11.2. Global Exoskeleton Market (US$ Million) & (Units) Estimates and Forecasts, by Segment _3, 2023 to 2033

11.2.1. Healthcare

11.2.2. Defence

11.2.3. Industrial

11.2.4. Others


12. Global Exoskeleton Market Analysis and Forecast, by Region

12.1. Global Exoskeleton Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033

12.2. Global Exoskeleton Market (US$ Million) & (Units) Estimates and Forecasts, by Region, 2023 to 2033

12.2.1. North America

12.2.2. Europe

12.2.3. Asia Pacific

12.2.4. Middle East and Africa

12.2.5. Latin America


13. North America Exoskeleton Market: Estimates & Forecast Trend Analysis

13.1. North America Exoskeleton Market Assessments & Key Findings

13.2. North America Exoskeleton Market Share (%) Estimates and Forecasts, 2022 & 2033

13.3. North America Exoskeleton Market Size Estimates and Forecast (US$ Million) & (Units) (2023 to 2033)

13.3.1. By Component

13.3.2. By Type

13.3.3. By Mobility

13.3.4. Body part

13.3.5. Treatment

13.3.6. Application

13.3.7. By Major Country

13.3.7.1. The U.S.

13.3.7.2. Canada


14. Europe Exoskeleton Market: Estimates & Forecast Trend Analysis

14.1. Europe Exoskeleton Market Assessments & Key Findings

14.2. Europe Exoskeleton Market Share (%) Estimates and Forecasts, 2022 & 2033

14.3. Europe Exoskeleton Market Size Estimates and Forecast (US$ Million) & (Units) (2023 to 2033)

14.3.1. By Component

14.3.2. By Type

14.3.3. By Mobility

14.3.4. Body Part

14.3.5. Treatment type

14.3.6. Application

14.3.7. By Major Country

14.3.7.1. Germany

14.3.7.2. The U.K.

14.3.7.3. France

14.3.7.4. Italy

14.3.7.5. Spain

14.3.7.6. Rest of Europe (includes all other European countries)


15. Asia Pacific Exoskeleton Market: Estimates & Forecast Trend Analysis

15.1. Asia Pacific Exoskeleton Market Assessments & Key Findings

15.2. Asia Pacific Exoskeleton Market Share (%) Estimates and Forecasts, 2022 & 2033

15.3. Asia Pacific Exoskeleton Market Size Estimates and Forecast (US$ Million) & (Units) (2023 to 2033)

15.3.1. By Component

15.3.2. By Type

15.3.3. By Mobility

15.3.4. Body Part

15.3.5. Treatment type

15.3.6. Application

15.3.7. By Major Country

15.3.7.1. China

15.3.7.2. Japan

15.3.7.3. India

15.3.7.4. ASEAN

15.3.7.5. South Korea

15.3.7.6. Rest of Asia Pacific (includes all other Asia Pacific countries)


16. Middle East & Africa Exoskeleton Market: Estimates & Forecast Trend Analysis

16.1. Middle East & Africa Exoskeleton Market Assessments & Key Findings

16.2. Middle East & Africa Exoskeleton Market Share (%) Estimates and Forecasts, 2022 & 2033

16.3. Middle East & Africa Exoskeleton Market Size Estimates and Forecast (US$ Million) & (Units) (2023 to 2033)

16.3.1. By Component

16.3.2. By Type

16.3.3. By Mobility

16.3.4. Body Part

16.3.5. Treatment type

16.3.6. Application

16.3.7. By Major Country

16.3.7.1. GCC

16.3.7.2. South Africa

16.3.7.3. Egypt

16.3.7.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)


17. Latin America Exoskeleton Market: Estimates & Forecast Trend Analysis

17.1. Latin America Market Assessments & Key Findings

17.2. Latin America Exoskeleton Market Share (%) Estimates and Forecasts, 2022 & 2033

17.3. Latin America Exoskeleton Market Size Estimates and Forecast (US$ Million) & (Units) (2023 to 2033)

17.3.1. By Component

17.3.2. By Type

17.3.3. By Mobility

17.3.4. Body Part

17.3.5. Treatment type

17.3.6. Application

17.3.7. By Major Country

17.3.7.1. Brazil

17.3.7.2. Mexico

17.3.7.3. Rest of Latin America (includes all other Latin America countries)


18. Competitive Landscape

18.1. Market Revenue Share Analysis (%), by Major Players (2021)

18.2. Market Competition Matrix, by Leading Players

18.3. List of Emerging, Prominent and Leading Players

18.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.

19. Company Profiles

19.1. Ekso Bionics

19.1.1. Company Overview & Insights

19.1.2. Financial Performance

19.1.3. Product / Service Portfolio

19.1.4. Geographical Footprint & Share

19.1.5. Strategic Initiatives & Key Developments

*Similar details would be provided for all the players mentioned below

19.2. Hocoma

19.3. Bionik Laboratories Corp.

19.4. ExoAtlet Lockheed Martin Corporation

19.5. Suit X

19.6. Rex Bionics Plc.

19.7. RB3D

19.8. ReWalk Robotics Ltd

19.9. Cyberdyne, Inc.

19.10. ActiveLink (Panasonic Corporation)

19.11. Parker Hannifin (US),

19.12. B-TEMIA Inc

19.13. Bioventus

19.14. Wearable Robotics SRL

19.15. Gogoa Mobility Robots SL

19.16. Meditouch

19.17. P&S Mechanics

19.18. Marsi Bionics

19.19. Rehab Robotics

19.20. Myomo

19.21. Focal Meditech

19.22. Honda Motors

19.23. Wandercraft

19.24. BAMA Teknoloji

19.25. Medexo Robotics

19.26. Fourier Intelligence

19.27. TWIICE

19.28. Others


20. Assumptions and Research Methodology

20.1. Data Mining

20.2. Secondary Research

20.3. Primary Research

20.4. Subject Matter Expert Advice

20.5. Quality Check

20.6. Final Review

20.7. Data Triangulation

20.8. Bottom-Up Approach

20.9. Top Down Approach

20.10. Research Flow

20.11. Key Insights from Industry Experts

20.12. Data Sources

20.13. Assumptions

20.14. Limitations


21. Conclusions and Recommendations

21.1. Key Research Findings and Conclusion

21.2. Key Insights & Recommendations from Analysts

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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