Medical Exoskeleton Market to grow by USD 2.87 billion from 2024-2028, driven by rising spinal cord injury cases, AI-powered report- Technavio

NEW YORK, Sept. 6, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global medical exoskeleton market size is estimated to grow by USD 2.86 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 55.77%  during the forecast period. Increasing incidences of SCIS is driving market growth, with a trend towards launch of technologically advanced products. However, well-trained caregivers requirement  poses a challenge. Key market players include Bionik Laboratories Corp., B Temia, Cyberdyne Inc., DIH Group, Ekso Bionics Holdings Inc., Exoatlet Global SA, Focal Meditech, GOGOA Mobility Robots SL, Honda Motor Co. Ltd., Marsi Bionics SL, MYOMO INC., Ottobock SE and Co. KGaA, P and S Mechanics Co. Ltd., Parker Hannifin Corp., Rehab Robotics Co. Ltd., ReWalk Robotics Ltd., Rex Bionics Ltd., Sarcos Technology and Robotics Corp., Wandercraft, and Wearable Robotics Srl.

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The medical exoskeleton market is witnessing significant advancements with vendors introducing lighter and more user-friendly devices. Notable launches include SUITX by Ottobock’s IX BACK AIR exoskeleton in October 2023 and German Bionic’s nursing and healthcare professional-focused exoskeleton in August 2023. These innovations aim to enhance adjustability, durability, and usability. Technologically advanced features, such as one-handed controls, are being incorporated to cater to diverse user needs. The continuous introduction of such advanced products will fuel the growth of the global medical exoskeleton market. 

Medical exoskeletons are gaining popularity in various industries due to their ability to enhance workplace safety for frontline workers. These devices, which resemble wearable robots, use actuation technologies like motor impairments and deep learning to assist users. They are not only beneficial for individuals with motor impairments such as stroke, spinal cord injuries, or cerebral palsy, but also for able-bodied users in physically demanding jobs. Cloud computing and artificial intelligence enable remote monitoring and analysis of user data, improving rehabilitation approaches. Smart sensors and advanced technologies from companies like Bionic Yantra, Fourier Intelligence, Gloreha, and Hexar Humancare, offer customized solutions for cardiovascular and metabolic disorders. FDA regulations and ISO standards ensure the quality and safety of medical exoskeletons. Self-assist exoskeletons from Ekso Bionics and ReWalk Robotics are transforming rehabilitation centers into more efficient and effective spaces. Companies like Milebot Robotics, Myomo, Neofect, NextStep Robotics, Rex Bionics, Roam Robotics, Trexo Robotics, Tyromotion, U&O Technologies, and others are innovating in this field, offering return on investment for both individuals and organizations. 

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•         The medical exoskeleton market faces a significant challenge due to the limited availability of well-trained caregivers to assist patients in using these devices. In hospitals, rehabilitation centers, and home-care settings, caregivers play a crucial role in ambulation with medical exoskeletons for individuals with spinal cord injuries and locomotion impairments. However, the scarcity of dedicated caregivers, inconsistent training curricula and accreditation guidelines, and poor communication between patients and caregivers during exoskeleton use can lead to potential injuries, fractures, and falls. To mitigate these risks, it’s essential to have certified exoskeleton trainers with hands-on experience to guide patients during use. Companies like ReWalk Robotics offer comprehensive training programs through their ReWalk Training Centers. The shortage of well-trained caregivers poses a significant barrier to the growth of the global medical exoskeleton market.

•         The Medical Exoskeleton market is experiencing significant growth due to the increasing demand for assistive devices for people with mobility issues caused by neurological disorders such as Multiple Sclerosis and Strokes. Companies like BIONIK, B-Temia, Bioventus, Hocoma, Wearable Robotics srl, ExoAtlet, Meditouch, Suit X, MarsiBionics, Focal Meditech, Wandercraft, MEDEXO ROBOTICS, EksoVest, EVOTM, Shoulder Jacket, Thumb Slim, Cool Sleeve are leading this innovation. These exoskeletons are rehabilitation devices designed to improve mobility and enhance quality of life for patients with spinal cord injuries. They are also used as assistive ambulatory devices, replacing traditional mobility aids like wheelchairs, crutches, and walkers. Exoskeletons are not only beneficial for medical applications but also for industrial use in sectors like ILO for preventing work-related accidents in industries such as aircraft manufacture, shipyards, foundries, and aeronautics. These exoskeletons consist of sensors, motors, power sources, and control strategies that work together to mimic natural human movement. Musculoskeletal disorders are a common challenge, and exoskeletons offer a solution by providing support and assistance, improving neuroplasticity, and enhancing overall functionality.

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This medical exoskeleton market report extensively covers market segmentation by  

Mobility Type

1.1 Mobile exoskeleton
1.2 Stationary exoskeleton

Technology 

2.1 Powered exoskeletons
2.2 Passive exoskeletons

Geography 

3.1 North America
3.2 Europe
3.3 Asia
3.4 Rest of World (ROW)

1.1 Mobile exoskeleton-  The medical exoskeleton market is experiencing significant growth due to the increasing demand for assistive devices that enhance mobility for individuals with disabilities or injuries. These devices provide support and assistance, enabling users to perform daily tasks more effectively. Companies are investing in research and development to create advanced exoskeletons with improved features and functionality. The market is expected to continue expanding as the technology becomes more accessible and affordable.

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Medical exoskeletons are advanced assistive devices designed to enhance mobility and support individuals with various neurological disorders, including stroke, spinal cord injury (SCI), cerebral palsy, and neuropathy. These wearable robotic devices have revolutionized rehabilitation approaches by providing intensive and therapy sessions, enabling users to regain lost motor functions and improve their quality of life. FDA regulations and ISO standards ensure the safety and efficacy of these devices, which are increasingly being adopted in rehabilitation centers. Some notable companies in this field include Ekso Bionics, BIONIK, B-Temia, Bioventus, Hocoma, Wearable Robotics srl, ExoAtlet, Meditouch, and others. Medical exoskeletons offer a more natural gait and improved mobility compared to traditional assistive devices like wheelchairs, crutches, and walkers. These devices are not only effective in rehabilitation but also play a crucial role in managing the symptoms of neurological disorders and enhancing overall patient well-being.

Medical exoskeletons are innovative assistive devices designed to enhance mobility and support individuals with various musculoskeletal disorders, including stroke, severe injuries, and neurological conditions such as spinal cord injuries (SCI), neuropathy, cerebral palsy, and multiple sclerosis. These rehabilitation tools come in different forms, catering to both upper and lower extremities. FDA regulations and ISO standards ensure their safety and effectiveness. Exoskeletons are not limited to medical applications; they are also used in industrial settings for workplace safety in industries like aircraft manufacture, shipyards, foundries, and factories. In the medical field, they serve as rehabilitation devices, aiding in neuroplasticity and motor impairments recovery. Powered by sensors, motors, and smart power sources, these exoskeletons employ advanced control strategies to assist users in their daily activities. Actuation technologies, such as pneumatics, hydraulics, and electromechanics, enable the devices to function effectively. Exoskeletons offer significant benefits, including improved mobility, enhanced quality of life, and increased independence for individuals with mobility challenges. They can also assist able-bodied users in performing heavy-duty tasks, contributing to workplace safety and productivity. The market for medical exoskeletons is growing, with companies like Ekso Bionics, ReWalk Robotics, BIONIK, B-Temia, Bioventus, Hocoma, Wearable Robotics srl, ExoAtlet, Meditouch, Suit X, MarsiBionics, Focal Meditech, Wandercraft, MEDEXO ROBOTICS, EksoVest, EVOTM, Shoulder Jacket, Thumb Slim, Cool Sleeve, and others, leading the way in innovation and development. Advancements in cloud computing, deep learning, and artificial intelligence are expected to further enhance the capabilities of medical exoskeletons, offering more personalized and effective rehabilitation approaches. The potential applications of these devices are vast, from assisting individuals with cardiovascular and metabolic disorders to supporting frontline workers in hazardous environments.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Mobility Type

Mobile Exoskeleton
Stationary Exoskeleton

Technology

Powered Exoskeletons
Passive Exoskeletons

Geography

North America
Europe
Asia
Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/

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