Market Definition
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.
Market Outlook
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.
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.
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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The wearable robotic exoskeleton market is segmented into technology type, application, and region. By technology type, the market is classified into powered and passive. By application, the market is segmented into healthcare, industrial, defense, and others. By Region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
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Major Players
The key market players in the Wearable Robotic Exoskeleton Market are CYBERDYNE, INC (Japan), Ekso Bionics (US), Hocoma (Switzerland), ReWalk Robotics (Germany), Bionik Laboratories Corp. (US), ExoAtlet (Japan), Lockheed Martin (US), Rex Bionics Pty Ltd. (New Zealand), Sarcos Corp. (US) and Wearable Robotics Srl (Italy).
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Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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