Exoskeleton is a wearable mobile machine that is powered by a system of electric motors, pneumatics, levers, hydraulics, or a combination of technologies that allow for limb movement with increased strength and endurance. It is mainly used to enhance precision during surgery and to help nurses move and carry heavy patients. Exoskeletons are also used to help firefighters and other rescue workers to climb stairs carrying heavy equipment.
Exoskeleton Market: Key Players
The research study includes profiles of leading companies operating in the global exoskeleton market. Key players profiled in the report include: Knots Plus Ltd., ATOUN Inc., BIONIK, CYBERDYNE INC., Ekso Bionics, GOGOA, Hocoma, Honda Motor Co. Ltd, Hyundai Motor Company, Wandercraft and Laevo exoskelet.
Drivers for the Global Exoskeleton Market:
Growing demand from the healthcare sector for robotic rehabilitation, advancements in robotic technologies, and huge investments for the development of exoskeleton technology is the major driver for boosting exoskeleton market globally. Additionally, its increasing use in military operations as it helps in assisting injured soldiers and lifting heavy objects is also driving this market during the forecast period.
Opportunities for the Global Exoskeleton Market:
Rising aging population across the globe will propel the industry growth. As muscle strength and physical labour capabilities deteriorate with the increasing age, thus this can create lucrative opportunities for exoskeleton in near future. Moreover, growing focus of the manufacturers on the development of smart technologies to aid patients is generating profitable opportunities during the forecast period.
Restrains for the Global Exoskeleton Market:
Due to high cost price, limited adoption of this innovative technology in under-developed economies is negatively impacting the global market growth. Moreover, the healthcare industry in such countries is poorly developed and the government fails to provide support to the disabled population. As under-developed countries have low per capita income and limited technological advancements which can be the restraining factor for this market.
Region Wise, Global Exoskeleton Market Analysis:
North America has high market share of exoskeleton market due to growing geriatric population, high purchasing power of patients, and presence of a large number of public and private organizations offering grants & funds for the development of technologically advanced products. Asia Pacific region will grow at a high CAGR due to growing population, development in healthcare infrastructure, increasing availability of government funding on medical devices, and presence of a large patient pool that requires exoskeletons for rehabilitation.
Global Exoskeleton Market: Product analysis
Global Exoskeleton Market: Application analysis
Global Exoskeleton Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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