Market Highlights:
Global exoskeleton market is expected to reach USD 8,300.00 Million by 2025 from USD 528.30 Million in 2017, at a CAGR of 41.2% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
The major factors driving the growth of this market are geriatric population, advent of robotic technologies and increased investment towards exoskeleton technology. On the other hand High equipment cost may hinder the growth of the market are the factors which will boost the global exoskeleton market.
Growth in demand from the healthcare industry and significant advancements in robotic technologies are some of the key factors expected to drive the exoskeletons market over the forecast period from 2017 to 2025. Adoption of exoskeletons in the healthcare industry to treat and cure disorders such as paralysis, muscular dystrophy, and general fatigue is gaining momentum. Furthermore, use of exoskeleton devices are anticipated to grow to help the aging population especially in countries such as China and Japan. According to statistics provided in the World Population Ageing 1950-2050 report by Population Division, DESA of the United Nations, China and Japan have 12 million and 5 million people respectively of age 80 years and above. Further, in 2050, these figures are expected to reach 99 million and 17 million for China and Japan individually. Owing to this factor, expenses incurred on elder care are likely to increase, which can be reduced with the help of exoskeleton devices. Therefore, adoption of exoskeleton devices to help the elderly population with their routine activities is projected to rise in the coming years. Major technological breakthroughs by OEMs in robotic technologies are also expected to give a push to the exoskeleton market. In March 2016, Japanese multinational, Panasonic Corporation launched a pair of exoskeleton suits built with new robotic technology to be used for industrial purposes, and to help disabled people.
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Top Industry Players:
The key market players for global exoskeleton market are listed below:
- Raytheon Company
- Esco Bionics
- EXHAUSS
- SUIT X
- Hocoma
- Rex Bionics Ltd
- ReWalk Robotics
- RB3D, Raytheon Company
- PARKER HANNIFIN CORP
- Ottobock
- Fourier Intelligence Co., Ltd
- DIH Technologies Corporation
- B-Temia
- Focal Meditech BV
- Cyberdyne, Inc.
- Bionik Laboratories corp.
- Lockheed Martin Corporation
- GOGOA
- Honda Motor Co., Ltd.
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Market Segments:
The market is further segmented into:
- Component
- Mobility
- Type
- Body Parts
- End-User
The global exoskeleton market is segmented based on component into two notable segments; hardware and software. Hardware is sub segmented into actuator, sensor, control system/controller, power source and others. Actuator is further sub segmented into electrical, pneumatic, hydraulic, piezoelectric and others. Sensors are further sub segmented into force sensor, accelerometer, gyroscope, tilt sensor, position sensor, microphone and others. In 2017, hardware market is likely to dominate market with 76.1% shares and is estimated to reach USD 6269.05 million by 2025. It is growing at a CAGR of 41.1% in the forecast period.
The global exoskeleton market is segmented based on mobility into two notable segments; mobile and stationary. In 2017, mobile market will dominate with 75.5% shares and will consume around USD 6,345.92 million by 2025. It is growing at the highest CAGR of 41.4% in the assessment period.
The global exoskeleton market is segmented based on type into two notable segments; powered and passive. In 2017, the powered market is estimated to dominate market with 75.5% shares and will collect around USD 6,192.04 million by 2025, rising with the CAGR of 41.0%.
The global exoskeleton market is segmented based on body parts into three notable segments; lower extremities, upper extremities and full body. In 2017, the lower extremities market is estimated to dominate market with 57.7% shares and will collect around USD 4,801.07 million by 2025, rising with the CAGR of 41.2%.
The global exoskeleton market is segmented based on end user into three notable segments; healthcare, industrial, defense or military. Healthcare is sub segmented into rehabilitation and elderly care. In 2018, healthcare market is expected to dominate market with 50.0% shares and is estimated to reach USD 4,136.68 million by 2025, growing at the highest CAGR of 41.1%.
Based on geography, the market is segmented into 5 geographical regions:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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