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PUBLISHER: Orion Market Research | PRODUCT CODE: 1433435

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PUBLISHER: Orion Market Research | PRODUCT CODE: 1433435

Global Exoskeleton Market 2023-2030

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Global Exoskeleton Market Size, Share & Trends Analysis Report by Type (Powered Exoskeletons and Passive Exoskeletons), by Mobility (Mobile and Fixed/Stationary), and by End-User (Medical, Industrial, and Military), Forecast Period (2024-2031)

The global exoskeleton market is anticipated to grow at a CAGR of 12.4% during the forecast period (2024-2031). Significant factors contributing to the exoskeleton market include the growing incidence rate of spinal cord injuries, increasing investment in R&D of the exoskeleton, and cohesive government policies. As per the National Spinal Cord Injury Statistical Center (NSCISC) 2023, the most recent estimate of the annual incidence of traumatic spinal cord injury (tSCI) is approximately 54 cases per one million people in the US, which equals about 18,000 new tSCI cases each year. Additionally, growing investments from private and public sectors in the development of exoskeleton technologies further contribute to market growth. In December 2023, Verve Motion, a Cambridge-based exoskeleton developer, raised $20 million in Series B funding to scale its SafeLift soft exoskeleton. SafeLift, worn like a backpack, utilizes real-time motion sensing and robotic assistance to alleviate 40% of the strain on a worker's back during a typical workday.

Segmental Outlook

The global exoskeleton market is segmented by type, mobility, and end-user. Based on the type, the market is sub-segmented into powered exoskeletons and passive exoskeletons. Based on mobility, the market is sub-segmented into mobile and fixed/stationary. Further, based on the end-user, the market is sub-segmented into medical, industrial, and military. Among the types, the powered exoskeletons sub-segment is projected to hold a significant share of the market, primarily attributed to reducing physical strain in industries, improving productivity, and rehabilitation support.

The Mobile Sub-Segment is Anticipated to Hold a Considerable Share of the Global Exoskeleton Market

Among the mobility, the mobile sub-segment is expected to hold a considerable share of the global exoskeleton market. The segmental growth is attributed to providing individuals with mobility impairments the ability to stand, promoting independence and improved quality of life, and continuous advancements in mobile exoskeleton technology, and regulatory approvals. In addition, the key players are also expanding their business in different regions to cater to the demand for mobile exoskeletons. For instance, in October 2023, Wandercraft launched commercial operations in the US for its Atalante X mobility exoskeleton, partnering with the Kessler Foundation. FDA-approved for stroke rehabilitation, the hands-free device utilizes self-balancing technology and gamified features for engaging in physiotherapy. After securing FDA approval in December 2022 for Atalante's utilization in stroke rehabilitation, Wandercraft strategically expanded its footprint in the US. The company established a new operational base in New York to enhance its market presence and support the deployment of Atalante in the region. The device was approved for use in the EU in 2019 and has since been used to treat over 650 patients across over 5,000 sessions.

Regional Outlook

The global exoskeleton market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Europe is anticipated to hold a prominent share of the market across the globe, owing to the growing use of exoskeletons in military and defense applications, including soldier augmentation and load-bearing assistance, which contributes to market expansion in Europe.

The North America Region is Expected to Grow at a Significant CAGR in the Global Exoskeleton Market

Among all regions, the North American region is anticipated to grow at a considerable CAGR over the forecast period. The regional market growth is attributed to the growing adoption of exoskeletons in healthcare for rehabilitation and supportive government initiatives and the increasing adoption of exoskeletons in industrial settings to enhance worker safety and productivity. According to the US Bureau of Labor Statistics, there were 5,486 fatal work injuries recorded in the US in 2022, marking a 5.7% increase from the 5,190 recorded in 2021. The fatal work injury rate was 3.7 fatalities per 100,000 full-time equivalent workers, up from 3.6 per 100,000 full-time equivalents in 2021. In addition, increasing collaborations between exoskeleton manufacturers, technology firms, and research institutions bolster innovation and market growth in the region. In January 2024, Prof. Ming Wu at the Richard and Loan Hill Department of Biomedical Engineering received a collaborative grant from the University of Illinois Chicago and OSF Healthcare to create an exoskeleton for nursing. The project aimed to create an exoskeleton for nursing staff to avoid lower back pain and injury risks associated with repetitive tasks and long shifts.

Market Players Outlook

The major companies serving the exoskeleton market include Bionik Laboratories, Bioness Inc., Cyberdyne Inc., Ekso Bionics Holdings, Inc., ReWalk Robotics Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2022, Ekso Bionics received FDA 510(k) clearance for its EksoNR robotic exoskeleton designed for Multiple Sclerosis (MS) patients. This marked the first FDA clearance for exoskeleton rehabilitation use in MS patients, broadening the device's application.

The Report Covers:

  • Market value data analysis of 2023 and forecast to 2031.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the global exoskeleton market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market-entry and market expansion strategies.
  • Competitive strategies by identifying 'who-stands-where' in the market.
Product Code: OMR2028086

Table of Contents

1. Report Summary

  • Current Industry Analysis and Growth Potential Outlook
  • 1.1. Research Methods and Tools
  • 1.2. Market Breakdown
    • 1.2.1. By Segments
    • 1.2.2. By Region

2. Market Overview and Insights

  • 2.1. Scope of the Report
  • 2.2. Analyst Insight & Current Market Trends
    • 2.2.1. Key Findings
    • 2.2.2. Recommendations
    • 2.2.3. Conclusion

3. Competitive Landscape

  • 3.1. Key Company Analysis
  • 3.2. Bionik Laboratories
    • 3.2.1. Overview
    • 3.2.2. Financial Analysis
    • 3.2.3. SWOT Analysis
    • 3.2.4. Recent Developments
  • 3.3. Bioness Inc.
    • 3.3.1. Overview
    • 3.3.2. Financial Analysis
    • 3.3.3. SWOT Analysis
    • 3.3.4. Recent Developments
  • 3.4. Cyberdyne Inc.
    • 3.4.1. Overview
    • 3.4.2. Financial Analysis
    • 3.4.3. SWOT Analysis
    • 3.4.4. Recent Developments
  • 3.5. Ekso Bionics Holdings, Inc.
    • 3.5.1. Overview
    • 3.5.2. Financial Analysis
    • 3.5.3. SWOT Analysis
    • 3.5.4. Recent Developments
  • 3.6. ReWalk Robotics Ltd.
    • 3.6.1. Overview
    • 3.6.2. Financial Analysis
    • 3.6.3. SWOT Analysis
    • 3.6.4. Recent Developments
  • 3.7. Key Strategy Analysis

4. Market Segmentation

  • 4.1. Global Exoskeleton Market by Type
    • 4.1.1. Powered Exoskeletons
    • 4.1.2. Passive Exoskeletons
  • 4.2. Global Exoskeleton Market by Mobility
    • 4.2.1. Mobile
    • 4.2.2. Fixed/Stationary
  • 4.3. Global Exoskeleton Market by End-User
    • 4.3.1. Medical
    • 4.3.2. Industrial
    • 4.3.3. Military

5. Regional Analysis

  • 5.1. North America
    • 5.1.1. United States
    • 5.1.2. Canada
  • 5.2. Europe
    • 5.2.1. UK
    • 5.2.2. Germany
    • 5.2.3. Italy
    • 5.2.4. Spain
    • 5.2.5. France
    • 5.2.6. Rest of Europe
  • 5.3. Asia-Pacific
    • 5.3.1. China
    • 5.3.2. India
    • 5.3.3. Japan
    • 5.3.4. South Korea
    • 5.3.5. Rest of Asia-Pacific
  • 5.4. Rest of the World

6. Company Profiles

  • 6.1. 3DR, Inc.
  • 6.2. American Honda Motor Co., Inc.
  • 6.3. ATOUN Inc.
  • 6.4. B-Temia Inc.
  • 6.5. Hocoma AG
  • 6.6. Lockheed Martin Corp.
  • 6.7. Myomo Inc.
  • 6.8. noonee germany GmbH
  • 6.9. Parker Hannifin Corp.
  • 6.10. Rex Bionics Ltd
  • 6.11. Roam Robotics
  • 6.12. Sarcos Technology and Robotics Corp.
  • 6.13. SuitX
  • 6.14. US Bionics, Inc.
Product Code: OMR2028086

LIST OF TABLES

  • 1. GLOBAL EXOSKELETON MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
  • 2. GLOBAL POWERED EXOSKELETON MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 3. GLOBAL PASSIVE EXOSKELETON MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 4. GLOBAL EXOSKELETON MARKET RESEARCH AND ANALYSIS BY MOBILITY, 2023-2031 ($ MILLION)
  • 5. GLOBAL MOBILE EXOSKELETON MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 6. GLOBAL FIXED/STATIONARY EXOSKELETON MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 7. GLOBAL EXOSKELETON MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
  • 8. GLOBAL EXOSKELETON FOR MEDICAL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 9. GLOBAL EXOSKELETON FOR INDUSTRIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 10. GLOBAL EXOSKELETON FOR MILITARY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 11. GLOBAL EXOSKELETON MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 12. NORTH AMERICAN EXOSKELETON MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
  • 13. NORTH AMERICAN EXOSKELETON MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
  • 14. NORTH AMERICAN EXOSKELETON MARKET RESEARCH AND ANALYSIS BY MOBILITY, 2023-2031 ($ MILLION)
  • 15. NORTH AMERICAN EXOSKELETON MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
  • 16. EUROPEAN EXOSKELETON MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
  • 17. EUROPEAN EXOSKELETON MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
  • 18. EUROPEAN EXOSKELETON MARKET RESEARCH AND ANALYSIS BY MOBILITY, 2023-2031 ($ MILLION)
  • 19. EUROPEAN EXOSKELETON MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
  • 20. ASIA-PACIFIC EXOSKELETON MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
  • 21. ASIA-PACIFIC EXOSKELETON MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
  • 22. ASIA-PACIFIC EXOSKELETON MARKET RESEARCH AND ANALYSIS BY MOBILITY, 2023-2031 ($ MILLION)
  • 23. ASIA-PACIFIC EXOSKELETON MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
  • 24. REST OF THE WORLD EXOSKELETON MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 25. REST OF THE WORLD EXOSKELETON MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
  • 26. REST OF THE WORLD EXOSKELETON MARKET RESEARCH AND ANALYSIS BY MOBILITY, 2023-2031 ($ MILLION)
  • 27. REST OF THE WORLD EXOSKELETON MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)

LIST OF FIGURES

  • 1. GLOBAL EXOSKELETON MARKET SHARE BY TYPE, 2023 VS 2031 (%)
  • 2. GLOBAL POWERED EXOSKELETON MARKET SHARE BY REGION, 2023 VS 2031 (%)
  • 3. GLOBAL PASSIVE EXOSKELETON MARKET SHARE BY REGION, 2023 VS 2031 (%)
  • 4. GLOBAL EXOSKELETON MARKET SHARE BY MOBILITY, 2023 VS 2031 (%)
  • 5. GLOBAL MOBILE EXOSKELETON MARKET SHARE BY REGION, 2023 VS 2031 (%)
  • 6. GLOBAL FIXED/STATIONARY EXOSKELETON MARKET SHARE BY REGION, 2023 VS 2031 (%)
  • 7. GLOBAL EXOSKELETON MARKET RESEARCH AND ANALYSIS BY END-USER, 2023 VS 2031 (%)
  • 8. GLOBAL EXOSKELETON FOR MEDICAL MARKET SHARE BY REGION, 2023 VS 2031 (%)
  • 9. GLOBAL EXOSKELETON FOR INDUSTRIAL MARKET SHARE BY REGION, 2023 VS 2031 (%)
  • 10. GLOBAL EXOSKELETON FOR MILITARY MARKET SHARE BY REGION, 2023 VS 2031 (%)
  • 11. GLOBAL EXOSKELETON MARKET SHARE BY REGION, 2023 VS 2031 (%)
  • 12. US EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 13. CANADA EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 14. UK EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 15. FRANCE EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 16. GERMANY EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 17. ITALY EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 18. SPAIN EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 19. REST OF EUROPE EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 20. INDIA EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 21. CHINA EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 22. JAPAN EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 23. SOUTH KOREA EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 24. REST OF ASIA-PACIFIC EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
  • 25. REST OF THE WORLD EXOSKELETON MARKET SIZE, 2023-2031 ($ MILLION)
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