Title: Exoskeletons Market – 2026: Industry Growth and Regional Analysis
1Exoskeletons Market is set to exceed USD 3.5
billion by 2026 at CAGR 41.5
2Key Insights from Exoskeletons Market
- Increasing incident rates of stroke, spinal cord
injury (SCI), or other diseases coupled with the
growing number of accidents will drive the
overall patient number suffering from mobility
disorders. Over 15 million people are paralyzed
and unable to walk, that in turn will provide
strong growth opportunities for the exoskeletons
market size. Research and development projects to
reduce the overall costs and enhance its
applications in military, industrial and
recreational sectors will further support the
industry expansion through 2026. - Exoskeletons are classified under class II by
Food and Drug Administration (FDA) that requires
close application monitoring by regulatory
authorities. Extensive clinical trials and
approvals are required to demonstrate their
safety in medical and personal mobility. Lengthy
ethical approval procedures, complex patients
requirement, and clinical uptake are required
prior to product commercialization. These factors
will inadvertently boost the consumer confidence
in the products and thereby augment the
exoskeletons market size over the forecast
timeframe.
3Continued
Industrial manufacturing and process participants
are focusing on deploying assistive systems that
can reduce work related injuries, medical
expenses, improve work efficiency and lower work
fatigue. Industrial exosuits are specifically
designed to leverage the utilization of systems
in robust applications, will inadvertently fuel
the exoskeletons market growth. For instance, in
August 2018, Esko Bionics and Ford developed
EksoVest that was deployed in Ford assembly line.
It supports a workers arms for tasks that
involve working from chest height to overhead.
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5U.S. Exoskeleton Market, By Technology, 2018
2026 (USD Million)
6Major Companies in Exoskeleton Market
- Lockheed Martin Corporation
- Parker Hannifin
- ReWalk Robotics
- REX Bionics
- Ekso Bionics
- Cyberdyne
- ATOUN Inc.
- Hocoma
- Revision Military
- Wandercraft
- Honda Motor Co. Ltd
7Industry Coverage
8Regional Insights in Exoskeleton Market
- Asia Pacific exoskeletons market will witness
highest CAGR over the forecast period due to the
high number of research and development
initiatives by Japan, South Korea, and China in
medical and military sectors. For instance, in
2018, Norinco, a state-owned manufacturer in
China, introduced military exosuits to boost
weight carrying capacity of armed forces.
Additionally, China Shipbuilding Industry have
deployed exoskeletons for shipyard workers, and
military engineers have developed L-70 for their
armed forces applications.
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