Exoskeleton Market

Global Exoskeleton Market Overview

The Global Exoskeleton Market: Focus on Industrial Exoskeleton, Military Exoskeleton and Medical Exoskeleton is estimated to be worth over USD 20 billion in 2035 and is expected to grow at compounded annual growth rate (CAGR) of 23.1% during the forecast period (2023-2035).

Over the years, the healthcare burden due to neurological disorders, including multiple sclerosis and strokes, has increased significantly with the growing prevalence of such disorders. As per the estimates of World Health Organization (WHO), approximately 1.8 million individuals, worldwide, currently suffer from multiple sclerosis, whereas over 12.2 million patients experience stroke, every year. These statistics are anticipated to increase further with the rise in the geriatric population.

Neurological disorders often lead to muscle weakness, which affects mobility, whether in localized muscle groups (such as hemiplegia, paraplegia, or quadriplegia) or the entire body. Unfortunately, there is no cure for neuromotor impairment; however, the use of assistive ambulatory devices, such as wheelchairs, crutches, and walkers can enhance independence and comfort for patients. Though these assistive devices are widely popular, they provide short-term relief rather than a transformative solution. Moreover, improper handling or prolonged use of these devices can lead to physical fatigue, discomfort and even injuries, thereby decreasing the quality of life (QoL); in fact, about 50% of the manual wheelchair users are reported to have a shoulder injury at some point in their lives. Over the years, exoskeletons have emerged as a partial alternative or a companion rehabilitation device that allow individuals with spinal cord injury and related injuries to walk freely in hospital and at home compared to the conventional ambulatory options. A medical exoskeleton is a wearable electromechanical device designed to help patients with mobility issues, that are either partially or completely paralyzed, in restoring movements of upper extremity or lower extremity. Leveraging neuroplasticity, the medical exoskeleton equipped with sensors, motors, actuators, power sources and control strategies enable recovery of fundamental movements and speed up recovery from injuries, such as acquired brain injury (ABI) or spinal cord injury (SCI). Apart from patients, healthcare providers, such as nurses and surgeons, also suffer from a range of musculoskeletal disorders due to the physically demanding nature of their roles in the healthcare sector. Medical exoskeleton can assist caregivers with tasks such as lifting and moving patients, negotiating obstacles, and standing for extended periods of time.

Beyond the healthcare industry, exoskeleton technology is serving to augment the performance as well as prevent work-related accidents of workers employed in a wide range of industries, such as construction, logistics, vehicle factory, aircraft manufacture, shipyard, automotive / metal mechanics industry, foundry, aeronautics, maintenance, and other factory works. According to the estimates of International Labor Organization(ILO), over 2.3 million workers die every year to work-related accidents or diseases. With such a staggering number of accidents each year, the adoption of industrial exoskeleton assisting workers in physical strenuous tasks of lifting of loads or overhead work, has potential to not only improve workplace safety but also increase employee turnover, improve productivity, and save costs.

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Despite their widespread benefits, several factors, including the cost barriers and lack of awareness limit the adoption of these devices amongst users. In order to ensure wider acceptance, exoskeleton companies are focusing their R&D efforts to lower the cost of exoskeleton, as well as integrating technologies such as cloud computing, deep learning, smart sensors and artificial intelligence in their exoskeleton portfolio. As the exoskeleton technology advances and the cost of exoskeletons decreases, and the stakeholders recognize the positive return on investment (ROI) on exoskeleton products (owing to higher benefit-cost ratio), the adoption of this nascent exoskeleton technology across various industries is poised to grow, ultimately driving the growth of the global exoskeleton market during the forecast period.

Key Market Insights

The Global Exoskeleton Market: Focus on Industrial Exoskeleton, Military Exoskeleton and Medical Exoskeleton Market: Distribution by Body Part Covered (Upper Body, Lower Body and Full Body), Mode of Operation (Powered Exoskeleton, Passive Exoskeleton and Hybrid Exoskeleton), Form of Exoskeleton (Rigid and Soft), Mobility (Fixed / Supported and Mobile), End Users (Patients, Healthcare Providers, Industry Workers, Military Personnel and Others) and Geography (North America, Europe, Asia-Pacific, and Rest of the World): Historical Trends, 2018-2022 and Forecasted Estimates, 2023-2035 market report features an extensive study of the current market landscape, market size and future opportunities associated with this industry, during the given forecast period. The market research report highlights the efforts of several stakeholders engaged in this emerging and rapidly evolving segment of the medical device industry. Key takeaways from the study of the global exoskeleton market are briefly discussed below. 

Advantages of Medical Exoskeleton and Industrial Exoskeleton

Medical exoskeleton has emerged as a popular rehabilitation tool, transforming the field of robotics. Medical exoskeletons have the ability to restore movement in individuals with motor impairments, as well as augment performance in able bodied users. The device uses sensors and actuation technologies (motors, pneumatics, levers, or hydraulics) to restore locomotion of the upper extremity and / or lower extremity. Beyond healthcare purposes, industrial exoskeleton provides postural support, improved productivity, and reduces work-related injuries. The adoption of industrial exoskeleton has demonstrated positive outcomes in several scenarios; for example, the implementation of Ekso Bionics eksoVest at Ford Motor Company led to an 83% reduction in worker injuries and a 17% increase in Boeing's airline production capacity.

Competitive Landscape of Medical Exoskeleton Companies

The current market landscape features the presence of over 95 companies, which design, develop and commercialize medical exoskeleton for patients, healthcare providers and researchers. Further, over 55% of the medical exoskeleton are powered exoskeleton, followed by passive exoskeleton which do not require any kind of electric source. Some examples of players engaged in manufacturing passive exoskeleton include (in alphabetical order) Archelis, Hocoma, Newndra Innovations, Mebster, Ossur and PolySpine. 

Competitive Landscape of Non-Medical Exoskeleton Companies

The current market landscape features the presence of close to 100 non-medical exoskeleton companies engaged in manufacturing exoskeletons for industrial workers, military purposes, daily life activities, sports and agriculture. It is worth mentioning that there has been a substantial rise in the number of non-medical exoskeleton companies over the past decade, indicating significant start-up activity in the exoskeleton market. Further, a significant proportion of the non-medical exoskeleton companies (73%) offer support to industrial workers employed in different sectors; notable examples of players engaged in manufacturing non-medical exoskeletons include (in alphabetical order) Bionic Power, CYBERDYNE, Ekso Bionics, LG Electronics, Ottobock and Xeno Dynamics.

Technological Development Analysis: Advancing Exoskeleton Technology

Recent advancements in exoskeleton technology with the integration of modern tools, have paved way for remarkable innovations in the exoskeleton space. This can be attributed to the incorporation of games, virtual reality (VR) and augmented reality (AR) technologies in these devices for effective rehabilitation. Several exoskeleton companies are slowly transitioning from bulky and high-cost exoskeletons to light weight and affordable exosuits with human-like anthropomorphic designs. For instance, Hilti Bionic Arm, an industrial exoskeleton, weighs only 5 pounds and is developed for assisting workers in carrying out overhead tasks conveniently.

Another notable example is MyoSwiss powered exoskeleton, designed for tasks, such as gait training and daily life support. The exosuit comprises three layers, namely a garment layer, a ligament layer, and a power layer. The garment layer serves as intermediary between Myosuit and the wearer, effectively distributing the forces throughout the body. Few exoskeleton companies have developed / are currently developing exoskeleton models which can be controlled by  paralyzed patients through their thoughts. For instance, in 2021, NeuroSolutions received FDA breakthrough designation for their exoskeleton IpsiHand System, which translates the neural signals automatically and assists the required movement. Some exoskeletons, such as HaptX Gloves and DextaRobotics Dexmo Gloves, offer haptic feedback, enhancing the user’s tactile sensations and proprioception. Beyond these features, software advancements, such as artificial intelligence powered variable assist control feature ensures that the rehabilitation exoskeletons provide additional power only when needed, thereby optimizing its assistance capabilities. For instance, B-Temia introduced the Keeogo exoskeleton which is AI Integrated, allowing it to automatically adapt to the user's movement and dynamically adjust its output to perform daily life activities.

Smart factories are integrating exoskeletons with the help of the Industrial Internet of Things (IIoT) to enhance worker safety and productivity. These IIoT-enabled exoskeletons provide real-time data on worker’s movements, enable remote monitoring, enable predictive maintenance, offer customization for user comfort, trigger safety alerts, manage workforce allocation, and optimize energy efficiency. This integration improves both workplace safety and operational efficiency in modern manufacturing environments.

Growth Drivers of Exoskeleton Market

The way for exoskeletons to become the standard of care is fraught with several challenges. Various industry and non-industry stakeholders are implementing novel initiatives in order to accelerate the adoption of these devices, such as providing financing and reimbursement options, as well as diverse purchasing choices, such as outright product purchase, leasing, or subscription models. In addition, a rise in government initiatives and policies have also forged exoskeleton companies to propel the growth of the exoskeleton market. For instance, ReWalk Robotics collaborated with the Department of Veterans Affairs to establish a national policy aimed at offering exoskeletons to all eligible veterans with spinal cord injuries. Exoskeleton companies have been actively seeking support for their research and development endeavors through various government funding initiatives, including programs, such as the Mind, Machine and Motor Nexus (M3X) program and MSDs Pilot Grant 1.0. Moreover, startups in this field are harnessing the power of online crowdfunding platforms, such as Kickstarter, wherein they rely on contributions and pre-orders from individual backers to help them transition from prototype stages to market-ready products. These exoskeleton companies are also emphasizing on increasing awareness within the exoskeleton community. This is evident from their participation in conferences, such as ExoBerlin, WearRAcon, and ErgoX, as well as competitive events, including the CYBATHLON Exoskeleton Race and the Exo Games. This proactive approach not only allows them to showcase their technological advancements but also extends their product reach on a global scale.

Challenges Associated with Exoskeleton Market 

The exoskeleton industry faces a multitude of challenges that must be addressed for the widespread acceptance of exoskeleton technology. Currently, exoskeletons are not considered the standard of care in rehabilitation and face competition from conventional orthotic and prosthetic devices. Further, regulatory bodies, such as the FDA, often rely on industry standards to evaluate and approve exoskeletons, which are considered Class II medical devices. A lack of standards can lead to inconsistencies in regulatory processes, making it more difficult for manufacturers to obtain approvals for their products, which can hinder market entry. Moreover, securing adequate insurance coverage or reimbursement from third-party payors is a challenge, particularly if these products are deemed investigational. As a result, healthcare providers are cautious about adopting new products due to liability and reimbursement concerns. Additionally, design-related challenges persist, with current exoskeletons, including limited range of motion, heavy weight, causing discomfort to the users’ bodies. These factors inhibit their adoption and usability. Additionally, navigation through uneven surfaces remains a hurdle, and twisting motions are yet to be developed in prototypes. A comprehensive solution to these design-related challenges necessitates a multidisciplinary approach, featuring expertise in fields such as biomechanics, robotics, materials science and human computer interaction.

Market Segment Analysis: Within Medical Exoskeleton Segment, Powered Exoskeleton to Drive Market Growth

Robotic or powered exoskeleton have emerged as a breakthrough device for rehabilitation of individuals with mobility impairments. Currently, ~60% of the medical exoskeleton can translate the user’s body movements to activate motors to move the patients’ limbs through a predetermined pattern. It augments the human capabilities in rehabilitation centers and home settings allowing the subject to not only receive rehabilitation in a hospital setting but also to continue their recovery process in the community and at home. Further, the use of powered exoskeleton mitigates the risks of cardiovascular and metabolic disorders, which are associated with inactive or sedentary lifestyle . With an increase in number of patients with spinal cord injuries and strokes, which require more assistance, the powered exoskeleton is anticipated to drive the market growth for exoskeleton market during the forecast period.

Regional Analysis: North America to Hold the Largest Market Share in Global Exoskeleton Market

The majority of the exoskeleton companies are headquartered in North America, followed by those based in Europe. Consequently, nearly 40% of the global market for exoskeletons is anticipated to be captured by exoskeleton companies based in North America, in 2035. According to data from the Centers for Disease Control and Prevention (CDC), it is estimated that approximately 61 million people in the United States live with various forms of impairment, and among these individuals, mobility disabilities constitute a significant portion, accounting for 13.7% of the disabled population. As per the projections of the United States Census Bureau (USCB), the US population aged 65 and older is expected to more than double by the year 2050.  This demographic shift has the potential to significantly increase the demand for medical exoskeletons throughout the nation. Further, the exoskeleton market in Asia-Pacific is expected to grow at a relatively high CAGR of ~30% during the forecast period (2023-2035).

Market Trends: Partnerships and Collaborations on the Rise for Medical Exoskeleton

In recent years, several partnerships have been inked by industry stakeholders, in order to consolidate their presence in this field. It is worth highlighting that nearly 60% of deals were forged in the last three years (since 2020). Interestingly, most of the agreements were distribution agreements (26%), followed by product / technology development agreements (15%). In July 2023, Wandercraft entered into an agreement with Brazilian Health authority to provide its two Atalante X exoskeletons at Lucy Montoro, a Brazilian neurological rehabilitation institution to support patient rehabilitation and medical research. Further, in June 2023, Trexo Robotics entered into a commercialization agreement with Keystone Education Group to use their Trexo Robotic Gait Trainer exoskeleton for children with autism spectrum disorder.

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Impact of COVID-19 on Global Exoskeleton Market

The COVID-19 pandemic, which began in 2020, had profound repercussions on the exoskeleton industry. The pandemic made it difficult for exoskeleton companies to introduce and pilot wearable devices, which require training, fitting and face-to-face time with the users. Further, owing to the supply chain disruption during the pandemic, the prices of several specific parts, mainly electronic parts increased. Further, the pandemic led to a shortage of healthcare workers, which made it difficult for hospitals and clinics to implement medical exoskeleton that require trained personnel to operate. Despite the challenging circumstances, several companies demonstrated goodwill by donating their exoskeleton products to frontline workers. For instance, in May 2020, Laevo donated numerous LAEVO V2 exoskeletons to ease the physically demanding tasks of those heavily impacted by COVID-19. These donations primarily targeted individuals working in logistics (such as order pickers), healthcare (including surgeons and nurses), agriculture (such as farmers and seasonal workers), and various other sectors.

Leading Exoskeleton Companies

Examples of key exoskeleton companies (which have also been captured in this market report, arranged in alphabetical order) include Bionic Yantra, CYBERDYNE, Ekso Bionics, ExoAtlet, Fourier Intelligence, Gloreha, Guangzhou Yikang Medical Equipment, Hexar Humancare, Hocoma, MediTouch, Milebot Robotics, Myomo, Neofect, NextStep Robotics,  ReWalk Robotics, Rex Bionics, Roam Robotics, Trexo Robotics, Tyromotion and U&O Technologies. This market report includes an easily searchable excel database of all the exoskeleton companies worldwide.

Recent Developments in the Exoskeleton Market

Although the first concept of exoskeleton was introduced in the 19th century, the development of exoskeletons gained momentum only after 2000, when it got significant attention from researchers from various countries, such as the US, Japan, Israel, France, Switzerland, South Korea, China. Several recent developments have taken place in the field of exoskeleton technology over the past few years. Some of these recent initiatives have been mentioned below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analyses.

• In August 2023, ReWalk Robotics announced the definitive agreement to acquire AlterG in order to expand existing portfolio of neurorehabilitation products at closing amount of USD 19 million.
• In December 2022, Ekso Bionics announced the acquisition of the Human Motion and Control (“HMC”) Business Unit from Parker Hannifin Corporation in order to expands its product at home use.
• In August 2022, CYBERDYNE announced the addition of Saitama Robocare Center in Japan to visitors with reduced physical function and disabilities.  Such type of expansions are expected to increase business operations during the forecast period.
• In June 2022, Ekso Bionics received FDA clearance for EksoNRTM robotic exoskeleton specifically for patients with multiple sclerosis. It is the first company to receive FDA approval for rehabilitation use with multiple sclerosis.
• In November 2021, CYBERDYNE acquired RISE, a rehabilitation medical institution running 16 outpatient rehabilitation clinics in California, US. Through this acquisition, the company seeks to integrate Cybernics treatment into RISE’s current lineup, ensuring easier access to this innovative treatment technology for patients.
• In July 2020, Hilti entered into a technology partnership with Ottobock to jointly develop Hilti bionic arm, named as EXO-O, a passive assistive device integrated with exoskeleton technology.

Scope of the Report

The market report presents an in-depth analysis of the various exoskeleton companies / organizations that are engaged in this industry, across different segments as defined in the table below:

Key Report Attributes	Details
Historical Trend	2018-2022
Base Year	2022
Forecast Period	2023-2035
Market Size 2023	$ 1.67 Billion
CAGR	~23.1%
Body Part Covered	Upper Extremity Lower Extremity Full Body
Mode of Operation	Powered  Passive  Hybrid
Form	Rigid Soft
Mobility	Fixed / Supported Mobile
End Users	Patients Healthcare Providers  Industry Workers Military Personnel Others
Geography	North America Europe Asia-Pacific Rest of the World
Key Exoskeleton Companies Profiled	Bionic Yantra CYBERDYNE Ekso Bionics ExoAtlet Fourier Intelligence  Gloreha  Guangzhou Yikang Medical Equipment Hexar Humancare Hocoma  MediTouch Milebot Robotics Myomo Neofect NextStep Robotics Panasonic ReWalk Robotics Rex Bionics Roam Robotics Trexo Robotics Tyromotion U&O Technologies (Full list of more than 220 companies captured is available in the report)
Customization Scope	15% customization available
Excel Data Packs (Complimentary)	Medical Exoskeleton Market Landscape  Non-Medical Exoskeleton Market Landscape Product Competitiveness Analysis Partnership and Collaboration Analysis Patent Analysis Blue Ocean Strategy Market Forecast and Opportunity Analysis

The market report presents an in-depth analysis, highlighting the capabilities of various exoskeleton companies, across different geographies. Amongst other elements, the market research report features:

• A preface providing an overview of the full report, Global Exoskeleton Market: Focus on Industrial Exoskeleton, Military Exoskeleton and Medical Exoskeleton Market, 2023-2035.
• An outline of the systematic research methodology adopted to conduct the study on global exoskeleton market, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
• An overview of economic factors that impact the overall exoskeleton market, including historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
• An executive summary of the key insights captured during our research. It offers a high-level view on the current state of the global exoskeleton market and its likely evolution in the short to mid and long term. 
• A general overview of global exoskeleton market, highlighting details on origin of exoskeletons. It also provides information on classification of exoskeleton, along with applications, features and limitations associated with exoskeleton. Further, it concludes with a discussion on future perspectives in this domain. 
• An overview of the current market landscape of medical exoskeleton based on relevant parameters, such as status of development (commercialized and under development), body part covered (upper extremity, lower extremity and full body), mode of operation (powered exoskeleton, passive exoskeleton and hybrid), form of exoskeleton (rigid and soft exosuit), device mobility (fixed site / stationary and mobile), user-machine interface (no interface, app based, handheld controller, on-device buttons / control panels and brain control), advanced features of exoskeleton (data capture / quantifiable motion metrics, gamification and customized assistance), end users (patients, medical professionals and researchers), patient age group (pediatric – adolescent, and adolescent – elderly), exoskeleton setting for patients (at home / community, and rehabilitation centers) and grant of breakthrough device designation. It also includes information on exoskeleton technology / software, maximum weight of exoskeleton, maximum weight carrying capacity and exoskeleton dimensions. Furthermore, the chapter presents a list of players engaged in the development / commercialization of medical exoskeletons, along with information on their year of establishment, company size, location of headquarters, company ownership and additional services offered. Further, it also highlights the most active companies (in terms of number of medical exoskeleton offered) in the medical exoskeleton market.
• An overview of the current market landscape of non-medical exoskeleton based on relevant parameters, such as status of development (commercialized and under development), body part covered (upper extremity, lower extremity and full body), body part supported (back, shoulder, leg, hip, waist, arm, knee, full body, thigh, hand, wrist, neck, thumb and ankle), mode of operation (powered exoskeleton, passive exoskeleton and hybrid), form of exoskeleton (rigid and soft exosuit), and application area (industrial, military, daily life activities, sports, agriculture and others). Additionally, the chapter includes information on exoskeleton technology / software, maximum weight of exoskeleton, maximum weight carrying capacity and exoskeleton dimensions. Furthermore, the chapter presents a list of players engaged in the development / commercialization of non-medical exoskeleton, along with information on their year of establishment, company size, location of headquarters and company ownership. Further, it also highlights the most active exoskeleton companies (in terms of number of non-medical exoskeleton offered) in the non-medical exoskeleton market.
• An insightful product competitiveness analysis of medical exoskeleton, based on supplier strength (based on years of experience, company size and number of exoskeleton offered), product competitiveness (in terms of device mobility, form of exoskeleton, mode of operation, advanced features of exoskeleton, user-machine interface, additional services offered, breakthrough designation and status of development) and end users.
• Detailed profiles of key exoskeleton companies (shortlisted based on the number and application area of wearable exoskeletons in their product portfolio) engaged in offering wearable exoskeleton. Each profile features a brief overview of the company (including information on year of establishment, number of employees, location of headquarters and leadership team), details related to its financial performance (if available), product portfolio, recent developments and an informed future outlook.
• Tabulated profiles of key players (shortlisted based on the number and application area of wearable exoskeletons in their product portfolio) that are engaged in development of wearable exoskeleton. Each tabulated profile features an overview of the company (including information on year of establishment, number of employees, location of headquarters and leadership team) and information on its product portfolio.
• A detailed analysis of the recent partnerships and collaborations related to medical exoskeleton, established since 2017, based on several parameters, such as year of partnership, type of partnership (mergers and acquisitions, product development and commercialization agreements, licensing agreements, service agreements, product development and manufacturing agreements, joint ventures, manufacturing and supply agreements, and product distribution agreements), type of partner (industry and non-industry), business globalization and most active players. It also includes the regional distribution of the companies involved in these agreements. 
• An insightful analysis of patents filed / granted for exoskeletons since 2016, taking into consideration various relevant parameters such as type of patent, patent application year, patent publication year, geographical location, type of applicant, publication time, top CPC symbols, leading players (in terms of number of patents filed / granted), along with a detailed patent benchmarking analysis.
• A detailed analysis of the current and future market based on blue ocean strategy, covering a strategic plan / guide for emerging medical exoskeleton companies to help unlock an uncontested market, featuring thirteen strategic tools that can help to shift towards blue ocean to gain a competitive edge in the market.
• An in-depth analysis of the factors that can impact the growth of global exoskeleton market. It also features identification and analysis of key drivers, potential restraints, emerging opportunities, and existing challenges.

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The key objective of this market report is to provide a detailed market forecast analysis in order to estimate the existing market size and future opportunity for exoskeleton companies over the next decade. We have extensively studied the historical market data within this industry, in order to develop a deeper understanding of the evolutionary market trends. Based on multiple parameters, likely estimated revenue of an exoskeleton type and through primary validations, we have provided an informed estimate on the market evolution during the forecast period 2023-2035. The market report also features the likely distribution of the current and forecasted opportunity within the global exoskeleton market across various segments, such as body part covered (upper extremity, lower extremity and full body), mode of operation (powered exoskeleton, passive exoskeleton and hybrid exoskeleton), form of exoskeleton (rigid and soft), mobility (fixed / supported and mobile), end users (patients, healthcare providers, industry workers, military personnel and others) and geography (North America, Europe, Asia-Pacific, and Rest of the World). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s market growth. 

The opinions and insights presented in the market analysis were influenced by discussions held with stakeholders in the industry. The report features detailed transcripts of interviews held with the following industry stakeholders: 

• Co-Founder and Chief Executive Officer, Small Company, Spain
• Director of Business Planning and Development, Small Company, Japan 
• Vice President of Sales and Marketing, Small Company, USA
• Marketing and Design Manager, Small Company, Canada
• Founder and Director, Small Company, India

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market report are in USD, unless otherwise specified.

Frequently Asked Questions

Question 1: What is an exoskeleton?

Answer: Wearable exoskeletons are electromechanical devices that have been developed as assistive devices, to serve a dual purpose in enhancing physical performance for able-bodied users and providing orthotic support to facilitate locomotion for wearers with disabilities. These innovative technologies have garnered significant attention due to their potential to augment human capabilities across a range of applications, from industrial tasks to medical rehabilitation.

Question 2: How big is the exoskeleton market?

Answer: The global exoskeleton market size is expected to be worth around USD 15 billion by 2035.

Question 3: How much does a medical exoskeleton cost?

Answer: The average price of a full body powered exoskeleton is between USD 70,000 and USD 85,500.

Question 4: What is rewalk exoskeleton price?

Answer: The rewalk exoskeleton comes in two variations. The rewalk exoskeleton price for personal use is USD 71,600, whereas the price of rewalk exoskeleton deemed for rehabilitation centers is USD 85,500.

Question 5: Which region has the highest market share in the exoskeleton market?

Answer: Currently, North America holds around 40% of the market share in the global exoskeleton market. However, in the long run, the exoskeleton market in Asia-Pacific is expected to grow at a relatively faster CAGR (~25.5%), during 2023-2035.

Question 6: What is the potential of exoskeleton market?

Answer: The market size for wearable exoskeleton is projected to grow at an annualized rate (CAGR) of 23.1%, during the forecast period.

Question 7: Who are the leading companies in the exoskeleton market?

Answer: Examples of key exoskeleton companies (which have also been captured in this market report, arranged in alphabetical order) include Bionic Yantra, CYBERDYNE, Ekso Bionics, ExoAtlet, Fourier Intelligence, Gloreha, Guangzhou Yikang Medical Equipment, Hexar Humancare, Hocoma, MediTouch, Milebot Robotics, Myomo, Neofect, NextStep Robotics, Panasonic, ReWalk Robotics, Rex Bionics, Roam Robotics, Trexo Robotics, Tyromotion and U&O Technologies.

Question 8: What are the upcoming trends in the exoskeleton market?

Answer: The exoskeleton market is experiencing a transformation marked by a transition to alternative power sources and the incorporation of advanced technologies. This includes the integration of artificial intelligence, smart sensors, cloud-based computing, machine learning, and brain-control features. This shift has notably contributed to the increased adoption and utilization of exoskeleton technology.

Question 9: What are the factors driving the exoskeleton market?

Answer: Rising work-related injuries of industrial workers and patients with stroke and spinal cord injuries, coupled with the breakthroughs in exoskeleton technology and significant investments in research and development, will lead to a significant growth in the exoskeleton market, during the forecast period.