Global Exoskeleton Market to Surpass US$ 2.29 Billion by 2025 with Highest CAGR 44.16%

 

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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