Global Medical Exoskeletons Market | Use of Medical Exoskeletons During Rehabilitation to Boost the Market Growth | Technavio

The global medical exoskeletons market size is poised to grow by USD 351.68 million during 2020-2024, progressing at a CAGR of almost 29% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Medical Exoskeleton Market 2020-2024 (Graphic: Business Wire)

Medical exoskeletons are used to restore locomotion and improve physical activity by increasing standing and walking time for patients with muscular impairments. It further benefits patients with paraplegia and paralysis by improving their endurance, bowel, and bladder control, bone density and reducing the chances of developing urinary tract infections. Additionally, it improves cardiovascular and metabolic functions, better circulation, increased oxygen intake, and improved sitting posture. For instance, REX offered by Rex Bionics Ltd. is the first hands-free, self-supporting robotic walking device for patients with paraplegia and limited upper body mobility, offering improved metabolic and physiological functions. Therefore, such advantages of medical exoskeletons during rehabilitation will significantly influence medical exoskeleton market growth over the forecast period.

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Report Highlights:

• The major medical exoskeletons market growth came from the mobile exoskeleton segment. Mobile exoskeletons use a multi-leveled controller and sensor to determine and enable ambulation in patients. These devices can be configured and customized based on individual requirements. Moreover, such devices assist patients with SCIs and mobility impairments to stand and walk with crutches or a walker to maintain balance. Manufacturers and researchers are focusing on developing advanced mobile exoskeletons with improved features in terms of adaptive motion control and human-robot interaction control.
• North America was the largest market for medical exoskeletons in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The presence of advanced healthcare facilities, increased incidences of physical disabilities, and high demand for self-assistive medical exoskeletons will influence the growth of the medical exoskeleton market in the region.
• The global medical exoskeletons market is concentrated. Bioness Inc., Bionik Laboratories Corp., CYBERDYNE Inc., DIH Group, Ekso Bionics Holdings Inc., GOGOA Mobility Robots, Parker-Hannifin Corp., ReWalk Robotics Ltd., Tyromotion GmbH, and Wearable Robotics are some of the major market participants. To help clients improve their market position, these medical exoskeletons market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global medical exoskeletons market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Focus on the Development of 3D-printed Medical Exoskeletons will be a Key Market Trend

3D printing technology aids in the development of complex medical devices based on customized or personalized preferences. This offers benefits such as improved outcomes, reduced complications, and shortened recovery time. Manufacturers in the market are using 3D printing to develop various medical exoskeletons that absorb shock and prevent the transfer of excessive force directly to the knees. The focus on the development of 3D printed exoskeletons will allow healthcare manufacturers to make changes in the product design without incurring additional costs and additional machinery or tools.

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Medical Exoskeletons Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist medical exoskeletons market growth during the next five years
• Estimation of the medical exoskeletons market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the medical exoskeletons market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of medical exoskeletons market vendors

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

• Preface
• Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis
• Value Chain Analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2019
• Market size and forecast 2019-2024
• Market outlook

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY MOBILITY TYPE

• Market segmentation by mobility type
• Comparison by mobility type
• Mobile exoskeleton - Market size and forecast 2019-2024
• Stationary exoskeleton - Market size and forecast 2019-2024
• Market opportunity by mobility type

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• Asia - Market size and forecast 2019-2024
• ROW - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 11: MARKET TRENDS

• Launch of technologically advanced products
• Increasing focus on use of exoskeletons featuring existing and emerging technologies
• Focus on development of 3D-printed medical exoskeletons

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Bioness Inc.
• Bionik Laboratories Corp.
• CYBERDYNE Inc.
• DIH Group
• Ekso Bionics Holdings Inc.
• GOGOA Mobility Robots
• Parker-Hannifin Corp.
• ReWalk Robotics Ltd.
• Tyromotion GmbH
• Wearable Robotics

PART 14: APPENDIX

• Research methodology
• List of abbreviations
• Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

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