Global Exoskeleton Market to Surpass US$ 2.29 Billion by 2025 with Highest CAGR 44.16%
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Exoskeleton |
The increasing prevalence of spinal cord injuries (SCIs) and
strokes, rising healthcare costs, an ageing population, a rise in employment
prospects for persons with disabilities, and a growing use of these products in
military and industrial activities are the main growth factors for this
industry. The Exoskeleton
Market sector
suffered a significant loss as a result of COVID-19, particularly in the first
two quarters of 2020. The pandemic forced thousands of raw material suppliers
to temporarily halt or curtail their operations in Germany, China, the United
States, and other nations. This has had a significant impact on the
availability of raw materials and the manufacturing of the parts required for
the creation of exoskeletons.
According to Coherent
Market Insights, The Exoskeleton Market in this region is projected to reach
US$ 999.3 million by 2025.
The Exoskeleton Market
is divided into hardware and software under the component category. As a
result of the fact that exoskeletons predominantly consist of hardware
components, such as sensors, powered systems, and actuators, the hardware
category held the largest market share among these in 2019. Hardware components
are mostly used to build passive exoskeletons.
Powered and passive exoskeletons fall within the type sector
of the market. Between 2020 and 2030, the powered category of these will grow
at the fastest rate. Powered exoskeletons offer exceptional endurance and
strength because they use motors, connectors, batteries, and electric cables to
drive actuators and sensors through a control system to permit the movement of
limbs and other body parts. These factors have contributed to the appeal of
these exoskeletons.
Electric actuator, hydraulic, fully mechanical, and pneumatic
are among the types included in the technology sector. Electric actuators are
anticipated to hold the highest exoskeleton market share over the period of
2020 to 2030 because they are highly effective in the vast majority of
applications. Due to the enormous number of clinical care and rehabilitation
facilities worldwide that depend on exoskeletons for treating patients on a
daily basis, the healthcare category generated the most income among the
various end user segment subcategories in 2019.
Major Vendors are- Ekso Bionics, ActiveLink (Panasonic
Corporation), Cyberdyne, Inc., ReWalk Robotics Ltd, Rex Bionics Plc., Lockheed
Martin Corporation, Suit X (U.S. Bionics, Inc.), RB3D, Hocoma, DIH
Technologies, Focal Meditech, and Ottobock.
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