Exoskeleton Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Type (Powered, Passive); Body Part Type (Lower Body, Upper Body, Full body); Mobility (Mobile Exoskeleton, Stationary Exoskeleton); End User (Healthcare, Military, Industrial, Others); Region/Country (North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Spain,  Rest of Europe); Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific); and Rest of World)

Detailed Analysis of COVID-19 Impact on the Exoskeleton Market

Pages:

250

Table:

58

Figure:

148

Report ID:

UMHE21844

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

Exoskeleton Market
Exoskeleton Market

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The exoskeleton market is anticipated display a CAGR significant growth of around 35% over the forecast period (2021-2027). The global exoskeleton market is expected to witness robust growth mainly due to the increase in the rising incidence rate of Spinal Cord Injuries (SCIs) with increasing falls, motor vehicle accidents (automobiles, motorcycles, sports injuries, and diving accidents which also leads to change in your brain which changes the muscle acceptance, especially among the disabled individuals with spinal cord injury population. Exoskeletons are robotic structures that humans can wear to boost their strength and mobility. 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 devise innovative product development strategies to boost the adoption rate and activate the market revenue.

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 the 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.

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Insights Presented in the Report

“Amongst Mobility, Mobile Exoskeleton segment dominated the market in 2020”

Based on mobility, the exoskeleton market is segmented into a mobile exoskeleton, a stationary exoskeleton. In 2020, mobile exoskeleton dominated the market and is expected to maintain its dominance throughout the forecast period. This is mainly due to the rising demand for industrial & military exoskeletons to support and provide free body movement. The stationary exoskeleton is a medication used in the management and treatment to power hip and knee movement to support individuals with spinal cord injuries to stand and walk.

“Amongst End User, Healthcare category to witness fastest growth rate”

Based on end user, the market is bifurcated into healthcare, military, industrial, and others. Among these, the healthcare category is expected to witness robust growth during the forecast period. The exoskeleton frames have developed in numerous ways and according to different machines and robots’ exoskeletons in each part of the world. Moreover, growing technology in developing countries of the world and the entry of various tech start-ups in the sector are further fueling growth in the market. 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.

“North America will Dominate the Market During the Forecast Period”

For a better understanding of the demand of the Exoskeleton market, the market is analyzed for major 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. Currently, North America dominates the market; however, Asia-Pacific is expected to witness the highest CAGR growth owing to rising healthcare expenditure in countries such as China, India, and other developing Asian countries. Some of the major players operating in the market include Cyberdyne, Hocoma, ReWalk Robotics, Ekso Bionics, LockHeed Martin, Parker Hannifin, Interactive Motion Technologies, Panasonic, Myomo, B-TEMIA Inc.

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Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry


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1.1.Market Definitions
1.2.Limitation
1.3.Stakeholders
1.4.Currency used in Report
2.1.Research Process of the Exoskeleton Market
2.2.Research Methodology of the Exoskeleton Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Exoskeleton Market Study
3MARKET SYNOPSIS

 

4EXECUTIVE SUMMARY

 

5EXOSKELETON MARKET COVID-19 IMPACT
6EXOSKELETON MARKET REVENUE, 2019-2027F
7.1.Powdered
7.2.Passive
8.1.Lower Body
8.2.Upper Body
8.3.Full Body
9.1.Mobile Exoskeleton 
9.2.Stationary Exoskeleton
10.1.Healthcare
10.2.Military
10.3.Industrial
10.4.Others
11.1.North America
 11.1.1.US
 11.1.2.Canada
 11.1.3.Rest of North America
11.2.Europe 
 11.2.1.Germany
 11.2.2.UK
 11.2.3.France
 11.2.4.Italy
 11.2.5.Spain
 11.2.6.Rest of Europe
11.3.Asia-Pacific
 11.3.1.China
 11.3.2.Japan
 11.3.3.India
 11.3.4.South Korea
 11.3.5.Rest of Asia-Pacific
11.4.Rest of world
12.1.Market Drivers
12.2.Market Challenges
12.3.Impact Analysis
13EXOSKELETON MARKET OPPORTUNITIES
14EXOSKELETON MARKET TRENDS
15LEGAL & REGULATORY FRAMEWORK
16.1.Demand Side Analysis
16.2.Supply Side Analysis
 16.2.1.Top Product Launches
 16.2.2.Top Business Partnerships
 16.2.3.Top Business Expansions
 16.2.4.Top Merger and Acquisitions
17.1.Competitive Landscape
 17.1.1.Company Shares, By Revenue
18.1.Cyberdyne
18.2.Hocoma
18.3.ReWalk Robotics
18.4.Ekso Bionics
18.5.LockHeed Martin
18.6.Parker Hannifin
18.7.Interactive Motion Technologies
18.8.Panasonic
18.9.Myomo
18.10.B-TEMIA Inc.
19DISCLAIMER

Research Methodology

Analyzing the historical market, estimating the current market, and forecasting the future of the exoskeleton market were the three major steps undertaken to create and analyze the demand and sales of exoskeletons across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. The detailed methodology is explained below.

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the Exoskeleton through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the exoskeleton, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are type, body part type, mobility, and end-user. Further regional level analyses were conducted to evaluate the overall demand for Exoskeleton in a global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as industry trends, product application, understanding of consumer demands, competitive landscape, brand positioning, and pricing analysis. Historical trends and their year-on-year impact on the market size and share were analyzed. Demand and supply-side scenarios were also thoroughly studied.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the market, and market shares of the segments and company. All the required percentage split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the demand for Exoskeleton across the major regions globally
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Exoskeleton market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.


Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Exoskeleton Market
Exoskeleton Market

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Exoskeleton market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of types, body part type, mobility, end-user, and region.

The main objective of the Exoskeleton Market Study

The current & future market trends of the exoskeleton market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the exoskeleton in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments of the industry
  • Segments in the study include types, body part type, mobility, end user, and region
  • Defined analysis of the regulatory framework for the exoskeleton industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
  • Analyze the current and forecast market size of the exoskeleton across the globe. Major regions analyzed in the report include 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. Define and analyze the competitive landscape of the Exoskeleton sector and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry

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