Medical Exoskeleton Market by Component (Hardware (Sensor, Actuator, Control System, Power Source), Software), Type (Powered, Passive), Extremities (Lower, Upper and Full Body) & Mobility (Mobile, Stationary)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Medical Exoskeleton market size was estimated at USD 203.70 Million in 2021 and is expected to surpass around USD 4,676.71 Million by 2030 and poised to grow at a compound annual growth rate (CAGR) of 44.15% during the forecast period 2022 to 2030.

Medical exoskeleton is a wearable electromechanical device that has been designed for rehabilitation of patients with mobility disorders, recovering the injuries and motor activity of partially or completely disabled lower extremities. The devices can also augment biological capacities, such as orthotic devices for the recovery of walking or moving. As a result, this wearable device gives patients extra movement, strength, and endurance. The medical exoskeletons improve the quality of life of people with a physical disability such as spinal cord injury, neurological disorder, paralysis, or old age people.

Physiotherapy centers and rehabilitation centers use some of the medical human exoskeletons for inpatient training and movement. Other industries such as the military, civilians also use this technology to enhance soldiers' travel and loading capacities as well as improve an operator's load-handling capabilities. In the medical profession, the device is utilized to regain lost functionality and patient life and to train people with motor nerve degeneration and cognitive-motor limitation.

Report Scope of the Medical Exoskeleton Market

Medical Exoskeleton Market Dynamics

Driver: Increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches

Globally, the number of people with physical disabilities is increasing majorly due to the rising geriatric population, increasing number of road accidents and severe trauma injuries, and increasing prevalence of stroke, among other factors. According to the US Census Bureau, the global elderly population is estimated to increase at a steady pace in the coming years, from 703 million in 2019 to 1.9 billion by 2050.

With the rising geriatric population, the number of people with disabilities is increasing as the elderly are more prone to conditions such as stroke and severe musculoskeletal injuries resulting from falls. The significant growth in the geriatric population thus not only indicates the presence of more potential users for medical exoskeletons but also implies that there would be a lesser number of active people to look after the elderly and disabled in the coming years. As a result, the demand for effective rehabilitation approaches, including the use of new and advanced technologies and products, is increasing across the globe. This is considered as a positive indicator for the growth of the medical exoskeleton market in all major regions.

Restraint: Regulatory Challenges for securing approvals for medical applications of exoskeletons

Manufacturers’ skills and expertise pertaining to technical designing can matter during the testing of the product. The malfunctioning of a medical device can lead to life-threatening consequences, and hence, exoskeletons developed for healthcare applications need to be thoroughly examined. Currently, there are a few standards that are directly applicable to the exoskeleton industry. The FDA recognizes ISO standards that are applicable to relevant industries, and only products that receive regulatory approvals can be sold in the market. There have been many advancements in powered lower-limb exoskeletons, but users are experiencing a hard time navigating sloping or slippery surfaces. The prototypes cannot yet cope with twisting motions, so users making turns while carrying objects could tire out easily, resulting in adverse events, which can include skin and tissue damages and bone fractures. Thus, regulatory bodies have established a very tight approval process for such devices so that a wearer’s safety is not compromised due to the high-power output of actuators used in them.

Opportunity: Increasing insurance coverage for medical exoskeletons in several countries

Assistive devices are an essential part of healthcare. In several countries, many rehabilitation centers use assistive devices provided by government organizations, special agencies, insurance companies, and charitable and non-governmental organizations.

Currently, coverage for the exoskeleton technology by insurance companies is low in several countries. However, companies are focusing on framing policies and entering into strategic collaborations and agreements with various public and private insurance providers for the reimbursement of medical exoskeleton devices. For instance, Ekso Bionics is approaching the Centers for Medicare and Medicaid Services and third-party insurers as they are expected to play an important role in the long-term commercial adoption of the Ekso GT device.

In March 2021, ReWalk Robotics entered into a contract with BKK Mobil Oil Insurance to provide ReWalk Personal Exoskeleton devices to its eligible beneficiaries with spinal cord injury. This contract provides, eligible individuals can receive a ReWalk Personal 7.0 exoskeleton, which enables them to stand and walk in their homes and communities after completing the training program.

North America accounted for the largest share of the global medical exoskeleton market

Based on the region, the medical exoskeleton market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2021, North America is expected to dominate the market with a share of 45%. The growing geriatric population, increasing demand for self-assist exoskeletons, high prevalence of stroke, and growing number of spinal cord injuries (SCI) are the key factors driving the growth of the medical exoskeleton market in this region.

Recent Developments

• In 2021, CYBERDYNE received medical device approval from Thai Food and Medical Products Approval Authority (Thai FDA) for HAL Single Joint Type. The product is for patients with reduced mobility in the upper and lower limbs due to muscle weakness or paralysis.
• In 2020, Ekso Bionics received 501(k) clearance from the US Food and Drug Administration (FDA) to market its EksoNR robotic exoskeleton for patients with acquired brain injury (ABI). EksoNR is the first exoskeleton device to receive FDA clearance for rehabilitation use with ABI, significantly expanding the device’s indication to a broader group of patients.
• In 2019, ReWalk Robotics’ ReStore soft exo-suit system received clearance from the US Food and Drug Administration (FDA) for sale to rehabilitation centers across the United States
• In 2018, Parker Hannifin announced the release of its next generation Indego Therapy device for use in rehabilitation centers which is rapidly adjustable and can be custom-sized and perfectly fitted to patients

 Some of the prominent players in the Medical Exoskeleton Market include:

Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd. (Israel), Parker Hannifin Corp (US), CYBERDYNE Inc. (Japan), Bionik Laboratories Corp (Canada), Rex Bionics Ltd. (UK), B-TEMIA Inc. (Canada), Hocoma AG (a subsidiary of DIH Technologies) (Switzerland), Wearable Robotics SRL (Italy), Gogoa Mobility Robots SL (Spain), and ExoAtlet (Luxembourg) and among others.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Medical Exoskeleton market

Medical exoskeleton Market, By Component

• Hardware
• Sensors
• Gyroscopes
• Microphones
• Accelerometers
• Tilt Sensors
• Force/Torque sensors
• Position Sensors
• Others
• Actuators
• Electrical
• Pneumatic
• Hydraulic
• Piezoelectric
• Power Sources
• Control Systems
• Other Hardware Components
• Software

Medical exoskeleton Market, By Type

• Powered Exoskeletons
• Passive Exoskeletons

Medical exoskeleton Market, By Extremity

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

Medical exoskeleton Market, By Mobility

• Mobile Exoskeletons
• Stationary Exoskeletons
• Medical exoskeleton Market, By Structure
• Rigid Exoskeletons
• Soft Exoskeleton

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Medical Exoskeleton industry analysis from 2022 to 2030 to identify the prevailing Medical Exoskeleton industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Medical Exoskeleton industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Medical Exoskeleton industry trends, key players, market segments, application areas, and market growth strategies.