overview and scope
A wearable robotic exoskeleton is an instrument that is worn by a human person to support, help, or enhance their mobility and physical capabilities. It is utilized to assist people in lifting heavy weights, enhance physical endurance, or regain movement for crippled people.
Sizing and Forecast
The wearable robotic exoskeleton market size has grown exponentially in recent years. It will grow from $1.16 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 47.3%. The growth in the historic period can be attributed to success stories and early adopters, media and public awareness, human-machine interface improvements, rising awareness of aging population challenges, increased focus on workplace safety.
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Segmentation & Regional Insights
The wearable robotic exoskeleton market covered in this report is segmented –
1) By Type: Passive, Powered
2) By Actuation Technology: Electric, Hydraulic, Fully Mechanical, Other Actuation Technology
3) By Application: Rehabilitation, Assistive, Body Parts Support, Sports
4) By End User: Healthcare, Industrial, Defense, Commercial
North America was the largest region in the wearable robotic exoskeleton market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wearable robotic exoskeleton market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising number of spinal cord injuries is expected to propel the growth of the wearable robotic exoskeleton market in the coming years. Spinal cord injuries (SCIs) refer to damage or trauma to the spinal cord, a crucial bundle of nerves running down the vertebral column. Wearable robotic exoskeletons are used for spinal cord injuries to enhance mobility and provide support for individuals with impaired motor functions. For instance, in October 2022, according to the New Zealand Spinal Trust, a New Zealand-based non-profit organization, the incidence of spinal cord injuries (SCI) in New Zealand is currently 45 per million, a slight increase from 41 per million in 2021. Therefore, the rising number of spinal cord injuries is driving the wearable robotic exoskeleton market.
Key Industry Players
Major companies operating in the wearable robotic exoskeleton market report are Lockheed Martin Corporation, Mitsubishi Heavy Industries Ltd., Parker Hannifin Corporation, Comau LLC, Fourier Intelligence, Genesis Robotics, Hocoma AG (DIH International Ltd.), Myomo Inc., Cyberdyne Inc., Sarcos Corporation, ATOUN Inc, Ekso Bionics Holdings Inc., Bioservo Technologies AB, Daiya Industry Co. Ltd., ReWalk Robotics Inc., Skelex AG, Focal Meditech BV, B-Temia Inc., Technaid S.L., GenElek Technologies, Rex Bionics PLC, Innervo Labs, Harmonic Bionics, Gogoa Mobility Robots, Bionik Laboratories Corp., P&S Mechanics Co. Ltd., Skeletonics
The wearable robotic exoskeleton market report table of contents includes:
1. Executive Summary
2. Wearable Robotic Exoskeleton Market Characteristics
3. Wearable Robotic Exoskeleton Market Trends And Strategies
4. Wearable Robotic Exoskeleton Market – Macro Economic Scenario
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35. Wearable Robotic Exoskeleton Market Future Outlook and Potential Analysis
36. Appendix
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