Exoskeleton Market Research Report: By Component, Type, Mobility, Body Part, Technology, End User - Global Industry Analysis and Growth Forecast to 2030

Exoskeleton Market Research Report: By Component, Type, Mobility, Body Part, Technology, End User - Global Industry Analysis and Growth Forecast to 2030

  • September 2020 •
  • 319 pages •
  • Report ID: 5987924 •
  • Format: PDF
Exoskeleton Market Research Report: By Component (Hardware, Software), Type (Powered, Passive), Mobility (Stationary, Mobile), Body Part (Lower Extremities, Upper Extremities, Full Body), Technology (Electric Actuator, Hydraulic, Fully Mechanical, Pneumatic), End User (Healthcare, Industrial, Military) - Global Industry Analysis and Growth Forecast to 2030

With the increasing prevalence of spinal cord injuries (SCIs) and strokes, the demand for exoskeletons is growing rapidly all over the world. In healthcare facilities such as rehabilitation centers, exoskeletons are increasingly being used for helping patients suffering from SCIs and paralysis walk and perform daily tasks and movements again. As per the National Spinal Cord Injury Statistical Center (NSCISC) in 2019, there are nearly 54 individuals out of every 1 million people who suffer from SCIs in the U.S.

Furthermore, the organization found that around 17,730 new cases of SCIs are reported every year in the country. According to the organization, on an average, 291,000 people suffer from SCIs in the U.S., with individual estimates lying in the range of 249,000—363,000. Because of this reason, the sales of exoskeletons are jumping in the U.S. Besides the rising prevalence of SCIs, the surging geriatric population all over the world is also pushing up the demand for exoskeletons.

The growing requirement for exoskeletons will push up their sales in the coming years, which will, in turn, cause the expansion of the global exoskeleton market. According to the estimates of P&S Intelligence, a market research company based in India, the valuation of the market would grow from $290.3 million to $6,957.9 million from 2019 to 2030. Furthermore, the market is predicted to progress at an explosive CAGR of 35.9% from 2020 to 2030.

Geographically, the exoskeleton market is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years. This would be a result of the surging utilization of exoskeletons in the medical domain and the rising geriatric population in the region. Because of the rapid growth of the geriatric population, the prevalence of disability and orthopedic diseases is soaring in the region, which is, in turn, fueling the demand for exoskeletons.