Growing demand from the healthcare sector for orthopedic rehabilitation, as well as increased military and defence sector investments in exoskeletons, are driving Exoskeleton Market expansion.
JERSEY CITY, N.J., July 22, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Exoskeleton Market" By Component (Hardware, Software), By Body Part (Lower Extremities, Upper Extremities, Full Body), By Mobility (Stationary, Mobile), By Verticals (Healthcare, Defense, Industrial, Others), and By Geography. According to Verified Market Research, the Global Exoskeleton Market size was valued at USD 517.01 million in 2020 and is projected to reach USD 12,207.82 Million by 2028, growing at a CAGR of 48.2% from 2021 to 2028.
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Browse in-depth TOC on "Exoskeleton Market"
202 - Pages
126 - Tables
37 - Figures
Global Exoskeleton Market Overview
Robotic treatment is becoming increasingly popular in the healthcare industry and result is driving the growth of the market. Robot-assisted therapy systems are increasingly being used in rehabilitation processes because they offer numerous benefits such as performing repetitive movements during goal-directed tasks, evaluating different physiological and functional parameters during rehabilitation exercises, improving motivation, and assisting with home exercises and training.
Robots are widely employed to assist people recovering from strokes and other serious neurological illnesses. The market for rehabilitation robots is quickly rising. According to the IFR's World Robotics 2019 - Service Robots, 2,400 rehabilitation robots were sold in 2018, an increase of 83% over 2017. The advantage of robot devices over therapist-guided rehabilitation exercises is that the robot device ensures that the movement is done in the same way each time, training the brain to allow muscles to carry out the movements on their own. The number of repetitions each session is also larger with robot-assisted rehabilitation. The robots capture data on the patient's performance, allowing therapists and doctors to accurately analyze improvement.
According to several studies, the ability of the robot to aid in very accurate, repetitive movements indicates that patients recover faster with robot-assisted therapy than with un-assisted therapy. The process is also safer for both the patient and the therapist because the therapist does not have to support the patient and may perform more precise, targeted training sessions with better results which drives the growth of the market. The usage of exoskeletons for such purposes has grown in part due to an increase in the number of people with physical limitations, particularly among the elderly.
Key Developments in Exoskeleton Market
- In March 2021, DIH formed strategic cooperation with Reha Technology. DIH committed to take over the distribution of Reha Technology's robotics products as well as promote and distribute Reha Technology's end-effector-based gait rehabilitation devices in important markets such as Switzerland, Germany, and the United States under this arrangement.
- In October 2020, DIH formed a strategic alliance with Gorbel Industries, a forward-thinking inventor and manufacturer of smart material handling and fall safety systems.
The major players in the market are Ottobock (Germany), DIH Medical (China), CYBERDYNE (Japan), Ekso Bionics. (US), Lockheed Martin Corporation (US), ATOUN. (Japan), BIONIC (Canada), B-Tamia (Canada), MediTouch (Israel), ReWalk Robotics (US).
Verified Market Research has segmented the Global Exoskeleton Market On the basis of Component, Body Part, Mobility, Verticals, and Geography.
- Exoskeleton Market, by Component
- Hardware
- Software
- Exoskeleton Market, by Mobility
- Stationary
- Mobile
- Exoskeleton Market, by Body part
- Lower Extremities
- Upper Extremities
- Full Body
- Exoskeleton Market, by Vertical
- Healthcare
- Defense
- Industrial
- Others
- Exoskeleton Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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