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(Health-NewsWire.Net, April 01, 2021 ) A medical exoskeleton, also known as a wearable robot, is a robotic machine suite worn by humans in place of their limbs to complement, substitute, and enhance human functions. It helps in physical movements by offering increased strength and endurance.
Factors such as the increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches; agreements and collaborations among companies and research organizations for the development of the exoskeleton technology; and increasing insurance coverage for medical exoskeletons in several countries driving the growth of the medical exoskeleton market. However, the high cost of medical exoskeletons may restrict market growth to a certain extent.
According MarketsandMarkets™ Research – The report “Medical Exoskeleton Market by Component (Hardware (Sensor, Actuator, Control System, Power Source), Software), Type (Powered, Passive), Extremities (Lower, Upper) & Mobility (Mobile, Stationary) – Global Forecast”, is projected to reach USD 571.6 million by 2023 from USD 116.7 million in 2018, at a CAGR of 37.4%.
North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to the growing geriatric population, increasing demand for self-assist exoskeletons, growing number of spinal cord injuries (SCI), and the high prevalence of stroke in the region.
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Growth Driver: Increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches;
Globally, the number of people with physical disabilities is increasing majorly due to the rising geriatric population, increasing number of road accidents and severe trauma injuries, and increasing prevalence of stroke, among other factors. All major regions across the globe are witnessing significant growth in their geriatric populations, and this trend is expected to continue in the coming years.
Opportunity: Introduction of soft actuators;
Currently, the medical exoskeletons industry is focusing on developing soft exoskeletons (without electronic motors and heavy batteries), which augment normal muscle function in healthy individuals for commercial use. Currently, these exoskeletons are available only for research purposes. Such exoskeletons have soft actuators that can be easily driven by an off-board compressor.
Soft exoskeletons are attached to the body securely and comfortably and transmit forces over the body through beneficial paths such that biologically appropriate moments are created at the joints. Compared to traditional exoskeletons, these exoskeletons are ultra-light-weight and have low mechanical impedance and inertia. The use of soft actuators has led to the development of inexpensive gait-supportive exoskeletons, creating opportunities for new players in the industry.
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Global Key Leaders:
The medical exoskeleton market includes various players. The major players in the market are Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd (Israel), Parker Hannifin Corp (US), Bionik Laboratories Corp (Canada), CYBERDYNE Inc. (Japan), Rex Bionics Ltd. (UK), B-TEMIA Inc. (Canada), Hocoma AG (A Subsidiary of DIH Technologies) (Switzerland), Wearable Robotics SRL (Italy), Gogoa Mobility Robots SL (Spain), and ExoAtlet, O.O.O. (Russia).
Ekso Bionics Holdings, Inc. (US) is a pioneer in the medical exoskeleton domain and the company dominated the market in 2017. The leading position of the company can be attributed to its wide geographical presence, it Ekso Bionics sells its products across North America, Europe, the Middle East, and Africa. The company offers advanced products in the market, such as the EksoGT, which is a wearable robotic exoskeleton that enables individuals to stand up and walk with a full weight bearing, reciprocal gait in a clinical setting. Similarly, the Ekso GT, with a smart Variable Assist software (designed for rehabilitation institutions) provides adaptive amounts of power to either side of the patient’s body, engaging the patient throughout his or her continuum of care. To date, the Ekso has helped patients take more than 41 million steps in over 115 rehabilitation institutions around the world.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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