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exoskeleton market

The exoskeleton market is expected to foresee significant growth. Asia-Pacific to lead the growth!

The global exoskeleton market is expected to witness robust growth of around 35% during the forecast period. This is mainly due to spinal cord injuries with increasing falls, vehicle accidents (automobiles, motorcycles, sports injuries, diving accidents which also leads to change in your brain which changes the muscle acceptance, especially among the middle-aged population. The exoskeleton is the type of device/support system that is used for assisting the body part movement treatment of disabled individuals and the geriatric population. For instance, as per the World Health Organization’s data estimates published in February 2021, approximately 1.71 billion individuals across the globe suffer from musculoskeletal disorders. Therefore, the constantly evolving exoskeleton industry is driving market players to develop innovative product growth strategies to boost the adoption rate, which will activate the market revenue.

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The exoskeleton is an external frame/skeleton that supports the body to help a person overcome an injury. These skeletons are generally regulated as devices and robots. The growth in motor accidents falls, and day-to-day accidents expand the global market for the exoskeleton. Market growth will also be navigated by an increase in R&D and the development of more complex technologies such as many machines and external frames.

The COVID-19 pandemic has had an unparalleled impact on the socio-economic and healthcare structure across various countries. During COVID -19 period, people have seen their daily lifestyles change drastically. In addition, the COVID-19 outbreak spread to almost every country, due to which the number of infected patients inflated, which strained countries’ healthcare ecosystem and resources. The ongoing COVID-19 pandemic across the world has had a tremendous impact on different spectra of society, the market for exoskeleton no less. The exoskeleton market faced a negative impact due to lockdown there is a temporary shutdown of rehabilitation centers, and there has been a huge decline in healthcare. Due to this, there has been a positive impact on the negative sales and supply chains of numerous sectors, particularly during the first two quarters of the year 2020. This has adversely affected the trade of exoskeleton products due to the high demand and widespread financial distress.

For a detailed analysis of the Covid-19 Impact on the market browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=20870

Based on mobility, the market is bifurcated into a mobile exoskeleton, and a stationary exoskeleton. Among these, the mobile exoskeleton category accounted for the major share of the global exoskeleton. Major industrial & military exoskeleton to aid body motion and ease fatigue will drive the industry growth through the forecast period. For instance, according to the world health organization, the world’s population above 60 years will rise from 12% in 2015 to around 22% in 2050. Muscle strength and physical labor capabilities weaken with the increasing age. Thus, the market is expected to witness significant growth during the forecast period.

Based on the end users, the market is bifurcated into healthcare, military, industrial, and others. During the forecast period, the healthcare category is expected to witness robust growth mainly due to the rising adoption of robotics technology for effective rehabilitation therapy. The exoskeleton eases leaves, and work-related injuries, reducing medical expenses, and lawsuits. This is due to diverse regulatory, economic, and cultural environments. For instance, in April 2016, Ekso Bionics received U.S. FDA approval for clinical use of Ekso GT Robotic which was widely used in rehabilitation centers in treating patients with spinal cord injuries and hemiplegia. Moreover, increasing technological advancements in developing countries of the world and the entry of various tech start-ups in the sector are further fueling growth in the market.

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For a better understanding of the market, the report is analyzed based on different regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. North America will dominate the market on account of the rising research and development initiatives, increasing incidents of musculoskeletal disorders coupled with the rising geriatric population. In addition, the increasing presence of major healthcare companies in the region coupled with their increasing focus on the research and development of new technology and machines is further expected to propel the market growth.

Exoskeleton Market Segmentation

Market Insight, by Type

  • Powered
  • Passive

Market Insight, by Body Part Type

  • Lower
  • Upper
  • Full Body

Market Insight, by Mobility

  • Mobile Exoskeleton
  • Stationary Exoskeleton

Market Insight, by End User

  • Healthcare
  • Military
  • Industrial
  • Others

Market Insight, by Region

  • North America Exoskeleton Market
    • US
    • Canada
    • Rest of North America
  • Europe Exoskeleton Market
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific Exoskeleton Market
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World Exoskeleton Market

Top Company Profiles

  • Cyberdyne
  • Hocoma
  • ReWalk Robotics
  • Ekso Bionics
  • LockHeed Martin
  • Parker Hannifin
  • Interactive Motion Technologies
  • Panasonic
  • Myomo
  • B-TEMIA Inc

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