The global exoskeleton market size is expected to reach USD 14.58 Billion in 2030 and register a revenue CAGR of 45.8% over the forecast period, according to the latest report by Reports and Data. Market revenue growth for exoskeletons is expanding due to reasons such as increased demand from the healthcare sector for robotic rehabilitation and rising strategic alliance brms and research organizations for the development of exoskeleton technology for medical application in several countries. However, the hurdles to acquiring permissions for the medical applicaetween fition of exoskeletons, may limit market revenue growth.
The rising occurrence of stroke and growing geriatric population are some of the important factors expected to impact market revenue growth over the forecast period. The global demand for robotic rehabilitation has increased due to a rise in the number of handicapped and geriatric persons. Geriatric population has contributed to an increase in demand for physical therapy services in recent years. The increased percentage of survival using advanced technologies from diseases such as stroke and paralysis has highlighted the significance of exoskeleton in healthcare. Robotic rehabilitation and assistive technology assures reduced stress on physiotherapy personnel and limit costs while improving patients’ quality of life. As the prevalence of handicaps increases globally, there has been an increase in demand for these robotic rehabilitation devices. According to data published by WHO in 2018, over a billion people were estimated to have some sort of disability, accounting for around 15% of the world population. Between 110 million (2.2 percent) and 190 million (3.8 percent) of persons aged 15 and above have major functional impairments. Moreover, manufacturers’ increased emphasis on adding smart technology in exoskeletons to benefit patients will fuel product demand.
Some Key Highlights from the Report:
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Exoskeleton market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
Lockheed Martin Corporation, ReWalk Robotics, Parker Hannifin Corp., Rex Bionics Ltd., Ekso Bionics, Cyberdyne Inc., ATOUN Inc., Hocoma, Wandercraft, and Otto Bock.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Exoskeleton Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
Component Type Outlook (Revenue, USD Billion; 2019-2030)
Anatomy Type Outlook (Revenue, USD Billion; 2019-2030)
Mobility Outlook (Revenue, USD Billion; 2019-2030)
Indication Type Outlook (Revenue, USD Billion; 2019-2030)
End-use Outlook (Revenue, USD Billion; 2019-2030)
Geographic Segment Covered in the Report:
The Exoskeleton report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)
Key market aspects are illuminated in the report:
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