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Wearable Robotic Exoskeleton Market to Hit USD 5,700.9 million by 2027

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The MarketWatch News Department was not involved in the creation of this content.

Jan 22, 2021 (The Expresswire) —
The global wearable robotic exoskeleton market size is projected to reach USD 5,700.9 million by 2027, exhibiting a CAGR of 42.6% during the forecast period. Rising utilization of robotic exoskeletons by healthcare facilities around the world is a prominent factor driving this market, shares Fortune Business Insights™ in its report, titled “Wearable Robotic Exoskeleton Market Size, Share and COVID-19 Impact Analysis, By Technology Type (Powered and Passive), By Application (Healthcare, Industrial, Defense and Aerospace and Others) and Regional Forecast, 2020-2027”. In the healthcare industry, wearable robotic exoskeletons are structures designed to aid people suffering from disabilities such as paralysis move their limbs and restore some form of normalcy in their lives. The vast potential of these structures is pushing health facilities worldwide to adopt and utilize them in effective ways.

For example, Ekso Bionics’ Ekso NR is being used by 300 hospitals across the US. The exoskeleton has been engineered to train the muscles and brains of stroke and spinal cord injury patients and enable them to walk and move again without assistance. In Russia in March 2019, doctors in a Southern Russian hospital used ExoChair, an exoskeleton designed to support the pelvic region and lower limbs, to perform a 12-hour-long urological surgery. The widening adoption of robotic exoskeletons in hospitals is, thus, broadening the horizons of this market.

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The unforeseen arrival of the COVID-19 pandemic and its unhindered rampage worldwide has triggered an unprecedented recessionary period for the global economy. Businesses are stumbling due to the sharp economic downturn, with several of them lying devastated. We aim to equip businesses with a quantitative and qualitative impact analysis of the current pandemic on different markets, based on our expertise and experience in Wearable Robotic Exoskeleton Market intelligence.

According to the report, the value of the global market was at USD 336.0 million in 2019. The report answers the following questions:

  • What are the principal factors influencing the size, share, and overall growth trajectory of the Wearable Robotic Exoskeleton Market?

  • What are the major challenges facing the market?

  • How has the market been segmented and how have the segments been analyzed?

  • Which regions are presenting the most lucrative prospects for the market?

  • Who are the top market players and what are their predominant strategies?

Click here to get sample copy the short-term and long-term impact of COVID-19 on this market.

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Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the Wearable Robotic Exoskeleton Market.

  • Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the Wearable Robotic Exoskeleton Market

  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the Wearable Robotic Exoskeleton Market

  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Wearable Robotic Exoskeleton Market

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List of Key Players Covered in the Market for Wearable Robotic Exoskeleton:

  • Wearable Robotics Srl (Italy)

  • Rex Bionics Pty Ltd, (United States)

  • ExoAtlet (Luxembourg)

  • ReWalk Robotics (United States)

  • Ekso Bionics (United States)

  • Sarcos Corp. (United States)

  • Lockheed Martin (United States)

  • Bionik Laboratories Corp. (Canada)

  • Hocoma (Switzerland)

  • CYBERDYNE, INC. (Japan)

Driving Factor

Development of Wearable Exosuits for Aged Persons to Fuel Market Growth

The wearable robotic exoskeleton market growth is anticipated to gather substantial momentum in the forthcoming years owing to the increasing number of older persons across the globe. According to the World Health Organization (WHO), the number of people aged 60 years and above is set to touch 2 billion by 2050. Older persons, due to the weakening of muscles and bones, are highly prone to mobility-related disabilities, as per data from the US Census Bureau. As a result, several companies have been investing and developing wearable robotic exoskeletons to reduce the dependency of the geriatric populations on caregivers and external aids.

For example, in December 2019, GenElek Technologies, a Delhi-based startup, designed and launched an exo-suit to allow physical movement for old people as well as those afflicted by mobility disorders. Similarly, Harvard University’s Wyss Institute for Biologically Inspired Engineering partnered with ReWalk Robotics to develop a lightweight exosuit made from softer, flexible fabrics for aged persons and people with lower limb disabilities. These inventions are speedily enhancing the potential of this Wearable Robotic Exoskeleton Market.

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Table Of ContentWearable Robotic Exoskeleton Market

1 Introductio

1.1. Definition, By Segment
1.2. Research Approach
1.3. Sources

2 Executive Summary

3 Wearable Robotic Exoskeleton Market Dynamics

3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19
3.3.1. Short-term Impact
3.3.2. Long-term Impact

4. Competition Landscape

4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. PESTEL Analysis
4.4. Porter’s Five Force Analysis
4.5. Global Wearable Robotic Exoskeleton Market Share Analysis and Matrix, 2019

5. Key Market Insights and Strategic Recommendations

6 Profiles of Key Players (Would be provided for 10 players only)

6.1. Overview
6.1.1. Key Management
6.1.2. Headquarters etc.
6.2. Offerings/Business Segments
6.3. Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
6.3.1. Employee Size
6.3.2. Key Financials
6.3.2.1. Past and Current Revenue
6.3.2.2. Gross Margin
6.3.2.3. Geographical Share
6.3.2.4. Business Segment Share
6.4. Recent Developments

7 Primary Interview Responses

TOC Continued…!

Competitive Landscape

Geographic Expansion of Operations by Key Players to Energize Market Competition

Key players in this Wearable Robotic Exoskeleton Market are turning their focus on expanding their activities beyond their home turf to capture the growing demand for wearable exosuits in other emerging markets. This is leading companies to deepen and broaden their distribution networks in foreign markets and partner with domestic companies to gain traction in these Wearable Robotic Exoskeleton Market.

Industry Developments:

  • October 2020: CYBERDYNE bagged approval from the Australian Ministry of Health for its flagship Medical HAL, an exoskeleton designed to improve physical movement in people suffering from various movement disorders such as spinal cord injury, stroke, cerebrovascular disorders, etc.

  • January 2020: BIONIK Laboratories received regulatory clearance from the South Korean Ministry of Food and Drug Safety for the sale of its InMotion® robotic technology. This approval will allow BIONIK to strengthen its foothold in the wearable exoskeleton market of Asia.

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About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

Contact:

Name: Ashwin Arora

Email:[email protected]

Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Wearable Robotic Exoskeleton Market to Hit USD 5,700.9 million by 2027

COMTEX_378525310/2598/2021-01-22T08:30:57

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