The global Exoskeleton market gathered revenue around USD 258.1 million in 2021 and market is set to grow USD 1.9 billion by the end of 2030 and is estimated to expand at a modest CAGR of 17.9% during the prediction period 2022 to 2030.
Growth Factors:
Rapidly growing global geriatric population, increasing incidences of road accidents, rising prevalence of stroke is boosting the adoption of exoskeleton products and driving the market growth. As per National Safety Council data estimates in March 2021, 42,060 individuals have died in road accidents in 2020 and accounted for an increase of 8% as compared to 2019. Furthermore, the market is expected to witness the emergence of smarter & more competent exoskeletons through the integration of artificial intelligence and machine learning algorithms.
The mobile exoskeleton segment dominated in 2021 and is anticipated to grow lucratively over the forthcoming years owing to the emergence of innovative mobile exoskeletons for the disabled communities and geriatric population. Although, high costs and complications associated with mobile systems are expected to restrain the segment growth. The powered technology segment dominated in 2021 owing to the widespread adoption of powered exoskeletons for rehabilitation aid in patients suffering from spinal cord injuries.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Exoskeleton market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Exoskeleton market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
Report Scope | Details |
Market Size | USD 1.9 billion by 2030 |
Growth Rate | CAGR of 17.9% From 2022 to 2030 |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
Segments Covered | Mobility, Technology, Extremity, End use, region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Companies Mentioned | Ekso Bionics; Hocoma; Lockheed Martin Corporation; Suit X (U.S. Bionics, Inc.); Rex Bionics Plc.; RB3D; ReWalk Robotics Ltd; Cyberdyne, Inc.; and ActiveLink (Panasonic Corporation). |
By Mobility Analysis
The mobile segment dominated the market for exoskeleton and accounted for the largest revenue share of 60.7% and largest volume share of 61.7%. The mobile segment is anticipated to register the fastest growth rate over the forthcoming years.
This significant market share and lucrative growth rate is attributable to the surge in demand for motor-equipped robots for aiding human body mechanics and rise in research and development activities.
Key participants are constantly introducing innovative solutions for various industries which support worker/user’s health, boost productivity, reduce fatigue, and minimize risks of serious injuries. The growth witnessed by stationary exoskeleton technologies is due to the growing usage of stationary system in rehabilitation centers.
By Technology Analysis
The powered technology segment dominated the market for exoskeleton and accounted for the largest revenue share of 74.7% and volume share of 67.6% owing to the rising implementation of powered exoskeleton solutions in several industries to enhance personal safety and boost productivity.
Non-powered or passive technology segment is anticipated to register the fastest growth rate over the forthcoming years owing to the growing number of innovative product launches. For instance, in December 2020, Hilti partnered with Ottobock SE to launch EXO-O1, a passive exoskeleton used by the construction industry.
By Extremity Analysis
The lower body segment dominated the market for exoskeleton and accounted for the largest revenue share 43.3% and volume share of 53.5% owing to the alarming rise of lower body disabilities and growing adoption rates of exoskeleton products by paralyzed and geriatric population for stability, mobility, and weight-bearing capabilities.
The upper body segment is anticipated to register the fastest growth rate over the forthcoming years owing to the benefits provided by exoskeleton products in upper extremities such as supporting disabled communities and rehabilitation aid in post-stroke, neurological, or musculoskeletal impairments.
By End-use Analysis
The healthcare segment dominated the market for exoskeleton and accounted for the largest revenue share of 51.3% and volume share of 51.8% owing to the rising incidence rate of Spinal Cord Injuries (SCIs), widespread adoption of these products and solutions in rehabilitation centers, and significant surge in treatment numbers are some of the key driving factors.
On the other hand, the industry segment is anticipated to register the fastest growth over the forthcoming years owing to the rising awareness levels towards the benefits associated with exoskeleton technologies in several industry applications and rapidly growing incidence rate of occupation-related injuries.
By Regional Analysis
North America dominated the market for exoskeleton and accounted for the largest revenue share of 47.0% and volume share of 28.4% owing to the growing prevalence of disabled individuals, rising expenditure on research activities, growing public and private support, increasing number of partnerships & collaborations amongst key participants, and availability of technologically advanced products.
Asia Pacific is anticipated to register the fastest growth rate over the forthcoming years owing to growing patient pool requiring rehabilitation support. Developing & advancing healthcare infrastructure, availability of government support and funding are driving the development and growth of the market for exoskeleton in Asia Pacific.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Exoskeleton market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Exoskeleton Market include: Ekso Bionics; Hocoma; Lockheed Martin Corporation; Suit X (U.S. Bionics, Inc.); Rex Bionics Plc.; RB3D; ReWalk Robotics Ltd; Cyberdyne, Inc.; and ActiveLink (Panasonic Corporation)
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Exoskeleton market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Exoskeleton market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Exoskeleton markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Exoskeleton Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Extremity Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Exoskeleton Market, By Mobility
7.1. Exoskeleton Market, by Mobility, 2021-2030
7.1.1. Mobile
7.1.1.1. Market Revenue and Forecast (2019-2030)
7.1.2. Fixed/Stationary
7.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 8. Global Exoskeleton Market, By Technology
8.1. Exoskeleton Market, by Technology, 2021-2030
8.1.1. Powered
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Non-powered
8.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Exoskeleton Market, By Extremity
9.1. Exoskeleton Market, by Extremity, 2021-2030
9.1.1. Upper Body
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Lower Body
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Full Body
9.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Exoskeleton Market, By End-use
10.1. Exoskeleton Market, by End-use, 2021-2030
10.1.1. Healthcare
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Military
10.1.2.1. Market Revenue and Forecast (2019-2030)
10.1.3. Industry
10.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Exoskeleton Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.1.2. Market Revenue and Forecast, by Technology (2019-2030)
11.1.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.1.4. Market Revenue and Forecast, by End-use (2019-2030)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Technology (2019-2030)
11.1.5.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.1.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.1.6.2. Market Revenue and Forecast, by Technology (2019-2030)
11.1.6.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.1.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.2.2. Market Revenue and Forecast, by Technology (2019-2030)
11.2.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.2.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Technology (2019-2030)
11.2.5.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.2.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Technology (2019-2030)
11.2.6.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.2.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Technology (2019-2030)
11.2.7.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.2.7.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.2.8.2. Market Revenue and Forecast, by Technology (2019-2030)
11.2.8.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.2.8.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.3.2. Market Revenue and Forecast, by Technology (2019-2030)
11.3.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.3.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Technology (2019-2030)
11.3.5.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.3.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Technology (2019-2030)
11.3.6.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.3.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Technology (2019-2030)
11.3.7.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.3.7.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.3.8.2. Market Revenue and Forecast, by Technology (2019-2030)
11.3.8.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.3.8.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.4.2. Market Revenue and Forecast, by Technology (2019-2030)
11.4.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.4.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Technology (2019-2030)
11.4.5.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.4.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Technology (2019-2030)
11.4.6.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.4.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Technology (2019-2030)
11.4.7.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.4.7.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.4.8.2. Market Revenue and Forecast, by Technology (2019-2030)
11.4.8.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.4.8.4. Market Revenue and Forecast, by End-use (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.5.2. Market Revenue and Forecast, by Technology (2019-2030)
11.5.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Technology (2019-2030)
11.5.5.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.5.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Mobility (2019-2030)
11.5.6.2. Market Revenue and Forecast, by Technology (2019-2030)
11.5.6.3. Market Revenue and Forecast, by Extremity (2019-2030)
11.5.6.4. Market Revenue and Forecast, by End-use (2019-2030)
Chapter 12. Company Profiles
12.1. Ekso Bionics
12.1.1. Company Overview
12.1.2. Mobility Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Hocoma
12.2.1. Company Overview
12.2.2. Mobility Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Lockheed Martin Corporation
12.3.1. Company Overview
12.3.2. Mobility Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Suit X (U.S. Bionics, Inc.)
12.4.1. Company Overview
12.4.2. Mobility Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Rex Bionics Plc.
12.5.1. Company Overview
12.5.2. Mobility Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. RB3D
12.6.1. Company Overview
12.6.2. Mobility Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. ReWalk Robotics Ltd
12.7.1. Company Overview
12.7.2. Mobility Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Cyberdyne, Inc.
12.8.1. Company Overview
12.8.2. Mobility Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. ActiveLink (Panasonic Corporation)
12.9.1. Company Overview
12.9.2. Mobility Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms