New York, According to a new market research report published by Global Insight Services “Wearable Robotic Exoskeleton Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A wearable robotic exoskeleton is a powered device that is worn over the body to provide support and assistance with movement. The most common type of exoskeleton is a full-body suit that covers the legs, arms, and torso. These devices are used to help people with mobility impairments or paralysis to walk and move their limbs.
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Key Trends
There are four key trends in wearable robotic exoskeleton technology:
1. Lighter weight and more portable designs: One of the key challenges with exoskeletons has been their weight and bulkiness, which can make them difficult to use for extended periods of time. However, recent advances in materials and manufacturing techniques have led to the development of lighter-weight and more portable exoskeleton designs.
2. Improved power sources: Another key challenge with exoskeletons has been their power requirements. Early exoskeletons were often tethered to a power source, which limited their mobility. However, newer exoskeletons are being powered by batteries, which significantly improves their mobility.
3. Advances in control systems: Another key trend in exoskeleton technology is the development of more advanced control systems. Early exoskeletons were often difficult to control, due to their complex mechanisms. However, newer exoskeletons are equipped with advanced control systems that make them easier to use.
Key Drivers
One of the key drivers of the wearable robotic exoskeleton market is the increasing number of people suffering from physical disabilities. According to the World Health Organization, there are over 1 billion people worldwide who suffer from some form of disability. This number is expected to increase in the coming years as the population ages.
Another driver of the market is the increasing number of soldiers suffering from injuries during combat. According to the U.S. Department of Defense, over 50,000 soldiers have been wounded in combat since the start of the wars in Afghanistan and Iraq. Many of these soldiers have lost limbs or have suffered other debilitating injuries.
The wearable robotic exoskeleton market is also being driven by the increasing number of people suffering from back pain. According to the American Chiropractic Association, over 80% of Americans will suffer from back pain at some point in their lives.
Market Segmentation
The Wearable Robotic Exoskeleton Market is segmented by technology, application and region. By technology type, the market is classified into powered and passive. By application, the market is bifurcated into healthcare, industrial, defense and others. By region, the market is segmented into North America, Europe, Asia-Pacific and rest of the world.
Key Players
The key players in the Wearable Robotic Exoskeleton market are CYBERDYNE, INC, Ekso Bionics, Hocoma, ReWalk Robotics , Bionik Laboratories Corp. , ExoAtlet , Lockheed Martin , Rex Bionics Pty Ltd. , Sarcos Corp. and Wearable Robotics Srl
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Reasons to buy Wearable Robotic Exoskeleton Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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