GLOBAL MEDICAL EXOSKELETON MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Market Challenges And Opportunities

Global Medical Exoskeleton Market Drivers:

• Increasing incidence of mobility impairing conditions: The rising incidence of mobility impairing conditions such as spinal cord injuries, strokes, multiple sclerosis, muscular dystrophy, and cerebral palsy is a key factor driving the global medical exoskeletons market. As per the World Health Organization (WHO), the global incidence of spinal cord injuries is estimated at 40 and 80 cases per million people every year. Strokes are the second-leading cause of disability worldwide with around 50 million stroke survivors globally. These conditions severely limit mobility and ability to perform daily activities. Medical exoskeletons can help such patients walk again with the help of mechanical joints and powered actuators that work in sync with the patient’s movements. Companies are developing compact, lightweight exoskeletons to provide rehabilitation and mobility assistance to patients suffering from debilitating neurological and mobility disorders.
• Growing adoption for workplace ergonomics: The use of medical exoskeletons in workplace environments is increasing owing to their ability to enhance productivity while also preventing musculoskeletal injuries. These devices reduce loading on the upper back and shoulder by providing lift assistance and counterbalance for overhead tasks. This helps in preventing occupational fatigue and the risk of work-related musculoskeletal disorders among industrial workers. Companies such as suitX and RB3D are offering industrial medical exoskeletons that can provide support for overhead tasks and also improve mobility for logistics roles. Their adoption in industrial settings helps improve worker safety, comfort, and workplace ergonomics.
• Favorable reimbursement scenario: The availability of favorable reimbursement policies is accelerating the global adoption of medical exoskeletons. In the U.S., Centers for Medicare & Medicaid Services covers medical exoskeletons under the Healthcare Common Procedure Coding System (HCPCS), which helps patients claim reimbursements. Medical exoskeletons are covered under HCPCS code E0637 and E0638. Several private insurers, like Aetna, BlueCross BlueShield, also offer reimbursement for medical exoskeletons prescribed by healthcare professionals. Such coverage policies by public and private bodies are lowering the cost burden on patients, thereby encouraging product adoption.
• Increasing R&D investments: Rising R&D investments by companies to improve exoskeleton technology, along with a growing number of strategic partnerships and regulatory approvals, are propelling market growth. Companies are utilizing advanced technologies, including robotics, actuators, sensors, and AI, to develop high-performance and next-gen exoskeletons. Advances in material science have also enabled the development of lighter, more flexible exoskeletons. Moreover, partnerships between developers, rehabilitation centers and increasing FDA clearances are supporting new product launches, thereby boosting overall market development.

Global Medical Exoskeleton Market Opportunities:

• Growing potential in developing countries: Emerging countries present significant opportunities for market growth owing to the improving healthcare expenditure and infrastructure, along with a rising incidence of physical disabilities. According to the WHO, over 80% of people with disabilities live in developing nations. The adoption of advanced assistive technologies, including exoskeletons, remains limited in these countries. Companies are gradually expanding their focus on emerging economies through distribution alliances to tap the underpenetrated markets. Rising awareness about exoskeletons, along with local partnerships, can help players expand their footprint in developing regions.
• Increasing applications in rehabilitation therapy: The utilization of medical exoskeletons in rehabilitation centers is rising owing to their benefits in aiding customized physical therapy for disabilities caused by neurological disorders and injuries. These devices enable repetitive motion therapies to help rebuild neuro-muscular pathways for stroke survivors. Robotic gait training using exoskeletons is highly effective in re-activating motor skills for walking. Players are developing easy-to-use modular exoskeletons tailored specifically for rehabilitation therapies. Their adoption allows for quantitative assessment of patient recovery, enabling targeted therapy. This presents significant scope for growth in rehabilitation applications.
• Huge potential for pediatric medical exoskeletons: Medical exoskeletons present a vast scope of adoption among pediatric patients suffering from conditions like cerebral palsy, scoliosis, upper limb dysfunctions, and other neuromuscular disabilities. As per estimates, over 4 in 1000 children suffer from cerebral palsy globally. However, the development of pediatric exoskeletons remains limited given the challenges of designing small, adjustable devices as per varying young users. Companies concentrating on compact innovation, modular pediatric exoskeletons can gain a strategic edge in this niche market segment.
• Expanding industrial applications: The growing adoption of industrial exoskeletons for reducing work-related injuries provides opportunities for market expansion. Integration of exoskeletons with technologies including IoT, AI, and machine learning unlocks their potential in industrial environments. Companies are developing connected exoskeletons focused on injury prevention and performance augmentation for manufacturing, warehouse logistics, and infrastructure roles. Their adoption helps boost productivity and workplace safety. Pharmaceutical giants like GSK and Unilever are deploying them in factories for ergonomic benefits. A focus on user-centric designs suitable for long-term industrial use presents lucrative growth prospects.

Global Medical Exoskeleton Market Restraints:

• High cost of medical exoskeletons: The high cost of medical exoskeletons, ranging to US$30,000 to US$150,000 remains a major adoption barrier globally, especially in developing economies. The expensive components, including sensors, actuators, and control systems, along with low manufacturing volumes contribute to the high costs. This makes them unaffordable for many clinics and patients, hampering widespread adoption. Companies are developing low-cost exoskeletons using cheaper components to improve the cost viability for buyers.
• Need for trained professionals: The safe and effective utilization of sophisticated medical exoskeletons requires supervision by adequately trained healthcare professionals during rehabilitation therapy. However, the availability of skilled physiotherapists trained in using and maintaining exoskeleton devices remains limited. This restricts their adoption by many clinics and rehabilitation centers. Lack of training infrastructure in emerging economies further hampers market growth. Players are conducting training workshops focused on exoskeleton applications to help address this gap.
• Long product approval procedures: Stringent approval policies required for the commercialization of medical exoskeletons as class II medical devices hamper rapid market growth. The product development process from prototyping to commercial launch for new exoskeletons is prolonged owing to extensive evaluation and review processes by regulatory bodies. The COVID-19 pandemic also severely delayed many ongoing approval procedures, thereby restricting new product launches globally. Streamlining regulatory policies for accelerated review of low-medium risk medical exoskeletons can help mitigate this challenge.