Medical Exoskeleton Market

Global Medical Exoskeleton Market:

The global medical exoskeleton market size reached US$ 378.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 4,508.6 Million by 2032, exhibiting a growth rate (CAGR) of 30.73% during 2024-2032. The growing demand for rehabilitation devices for patients recovering from injuries is stimulating the market.

Medical Exoskeleton Market Analysis:

• Major Market Drivers: The increasing elderly population is creating a need for assistive mobility devices, which is propelling the market.
• Key Market Trends: The advancements in robotics technology are making devices more efficient for mobility challenges, thereby acting as a significant growth-inducing factor.
• Competitive Landscape: Some of the major market companies include B-Temia Inc., Cyberdyne Inc., Ekso Bionics Holdings Inc., ExoAtlet Global S.A., GOGOA Mobility Robots, Hocoma AG (DIH International Limited), Myomo Inc., ReWalk Robotics Ltd, Rex Bionics Ltd., suitX Inc. (Ottobock SE & Co. KGaA), Wandercraft, and Wearable Robotics Srl., among many others.
• Geographical Trends: Asia Pacific is experiencing rapid advancements in the medical exoskeleton market growth due to aging populations. In contrast, North America and Europe lead in R&D and adoption. Meanwhile, Latin America, and the Middle East and Africa’s increasing healthcare investments drive potential future expansion.
• Challenges and Opportunities: The high cost of devices is hindering the market. However, advancements in manufacturing technologies and increased government support for healthcare innovation and subsidies will continue to strengthen the market over the forecast period.
   

Medical Exoskeleton Market Trends:

Advancements in Wearable Robotics Technology

Ongoing innovation in wearable robotics is enhancing the functionality and comfort of medical exoskeletons. Moreover, these advancements enable more efficient movement, greater durability, and improved adaptability for various users. In contrast, enhanced designs focus on reducing physical strain and improving rehabilitation outcomes for patients with mobility impairments. For instance, in July 2024, Arc'teryx and Skip launched the MO/GO exoskeleton hiking pants, which reduce muscle fatigue by 40%, support knees, and extend hiking endurance, showcasing advancements in wearable tech for mobility assistance and rehabilitation.

Increasing Demand for Mobility Assistance

There is a growing demand for solutions that enhance mobility as the global population ages and the prevalence of mobility-related conditions rises, which is escalating the medical exoskeleton market share. Furthermore, they offer users increased independence and improved quality of life, thereby making them a popular option for rehabilitation centers and personal use to regain movement. For instance, in January 2024, Harvard and Boston University unveiled a soft robotic exoskeleton for Parkinson's patients, improving walking and reducing falls by eliminating "freezing" episodes. This wearable technology, using movement sensors and cable-driven actuators, represents a significant advancement in assistive medical exoskeletons for mobility impairments.

Regulatory Approvals Driving Market Expansion

Obtaining regulatory approval plays an important role in the growth of the medical exoskeleton market share. In addition, approval from health authorities ensures product safety and effectiveness, facilitating broader adoption. Furthermore, the market expands as more exoskeletons receive certification, which enables companies to offer advanced solutions for rehabilitation and mobility support. For instance, in September 2024, Human in Motion Robotics received regulatory approval to market XoMotion, the world's most advanced self-balancing, hands-free medical exoskeleton, in Canada. It is designed to aid rehabilitation for patients with spinal cord injuries, stroke, and neurological conditions, marking a significant advancement in exoskeleton technology.

Global Medical Exoskeleton Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with the market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on component, type, extremity, mobility, and end user.

Breakup by Component:

• Hardware
• Software
   

The report has provided a detailed breakup and analysis of the market based on the component. This includes hardware and software.

In medical exoskeletons, hardware includes motors, sensors, and structural components, providing mobility support while software controls movement and data processing. For example, ReWalk's exoskeleton integrates advanced hardware and software, thereby enabling paralyzed patients to walk with precision and stability.

Breakup by Type:

• Powered Exoskeletons
• Passive Exoskeletons
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes powered exoskeletons and passive exoskeletons.

Powered exoskeletons, like ReWalk, use motors and sensors to assist movement, aiding patients with severe mobility impairments. In contrast, passive exoskeletons, such as the SuitX, rely on mechanical structures, thereby offering support without power, and are ideal for rehabilitation or posture correction.

Breakup by Extremity:

• Lower Extremity Medical Exoskeletons
• Upper Extremity Medical Exoskeletons
• Full Body
   

The report has provided a detailed breakup and analysis of the market based on the extremity. This includes lower extremity medical exoskeletons, upper extremity medical exoskeletons, and full body.

Lower extremity medical exoskeletons assist with walking and mobility, upper extremity exoskeletons aid in arm and hand movements, while full-body exoskeletons provide comprehensive support for both upper and lower limbs, which enhances rehabilitation and physical capabilities in patients.

Breakup by Mobility:

• Mobile Exoskeletons
• Stationary Exoskeletons
   

The report has provided a detailed breakup and analysis of the market based on the mobilty. This includes mobile exoskeletons and stationary exoskeletons.

Mobile exoskeletons enhance patient mobility by allowing walking and movement, while stationary exoskeletons assist in rehabilitation by supporting specific exercises. For instance, Ekso Bionics' EksoNR helps stroke patients regain walking ability, while ReWalk focuses on personal mobility. This is elevating the medical exoskeleton market share.

Breakup by End User:

• Rehabilitation Centers
• Physiotherapy Centers
• Others
   

The report has provided a detailed breakup and analysis of the market based on the end user. This includes rehabilitation centers, physiotherapy centers, and others.

Rehabilitation centers and physiotherapy centers are key end users of medical exoskeletons, utilizing them to enhance patient mobility during recovery. For example, Ekso Bionics launched its EksoNR exoskeleton, aiding rehabilitation for stroke patients and those with spinal cord injuries. In addition, other sectors, such as home care settings and military applications, are exploring exoskeletons for mobility and support.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The market outlook report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

The medical exoskeleton market size is experiencing growth across Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. In Asia Pacific, demand is rising due to increasing healthcare investments. Moreover, Europe sees advancements in robotic technologies, driving adoption in rehabilitation, and North America benefits from innovations in healthcare robotics. Meanwhile, Latin America focuses on improving rehabilitation infrastructure, and the Middle East and Africa are exploring exoskeleton solutions for mobility enhancement.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all market companies have also been provided. Some of the key players in the market include:

• B-Temia Inc.
• Cyberdyne Inc.
• Ekso Bionics Holdings Inc.
• ExoAtlet Global S.A.
• GOGOA Mobility Robots
• Hocoma AG (DIH International Limited)
• Myomo Inc.
• ReWalk Robotics Ltd
• Rex Bionics Ltd.
• suitX Inc. (Ottobock SE & Co. KGaA)
• Wandercraft
• Wearable Robotics Srl
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Medical Exoskeleton Market Recent Developments:

• September 2024: Human in Motion Robotics received regulatory approval to market XoMotion, the world’s most advanced self-balancing, hands-free medical exoskeleton, in Canada. It is designed to aid rehabilitation for patients with spinal cord injuries, stroke, and neurological conditions.
• July 2024: Arc'teryx and Skip launched the MO/GO exoskeleton hiking pants, which reduce muscle fatigue by 40%, support knees, and extend hiking endurance.
• January 2024: Harvard and Boston University intrduced a soft robotic exoskeleton for Parkinson's patients, which is improving walking and reducing falls by eliminating "freezing" episodes.

Medical Exoskeleton Market Report Scope:

Key Questions Answered in This Report

• How has the global medical exoskeleton market performed so far, and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global medical exoskeleton market growth?
• What are the key regional markets?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the extremity?
• What is the breakup of the market based on the mobility?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global medical exoskeleton market, and who are the key players?
• What is the degree of competition in the industry?

Key Benefits for Stakeholders:

• IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the medical exoskeleton market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global medical exoskeleton market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the medical exoskeleton industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.