We have an updated report [Version - 2024] available. Kindly sign up to get the sample of the report.
all report title image

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

Global Medical Exoskeleton Market, By Type (Lower Body Exoskeletons, Upper Body Exoskeletons, Full Body Exoskeletons,  Others (Soft Exoskeletons, Active Exoskeletons, Passive Exoskeletons)), By Mobility(Mobile Exoskeletons, Stationary Exoskeletons, Fixed Exoskeletons), By End User (Rehabilitation Centers, Hospitals, Long Term Care Centers, Homecare Settings,  Others (Industrial Sites, Military)), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

  • Published In : Nov 2023
  • Code : CMI6489
  • Pages :156
  • Formats :
      Excel and PDF
  • Industry : Healthcare IT

Global Medical Exoskeleton Market Size and Trends

The global medical exoskeleton market size is expected to reach US$ 1,504.8 Million by 2030, from US$ 357.4 Million in 2023, at a CAGR of 22.8% during the forecast period. Medical exoskeletons are wearable devices that work in tandem with the user’s movements to provide mobility assistance and improve strength. They enable individuals with mobility impairments or muscle weakness to stand, walk, lift heavier objects, and perform occupational and rehabilitation activities. The increasing incidence of spinal cord injuries, rising prevalence of orthopedic disorders, and growing geriatric population are key factors driving the medical exoskeletons market’s growth.

The global medical exoskeleton market is segmented by type, mobility, end user, and region. By type, the lower body exoskeletons segment is expected to account for the largest share during the forecast period owing to the high incidence of lower body disabilities and the increasing development of gait-assistive lower limb exoskeletons.

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 Trends:

  • Development of soft actuators for flexible exoskeletons: The incorporation of flexible actuators and smart soft materials is an emerging trend enabling the development of lightweight and compliant exoskeleton designs. Conventional exoskeletons utilize rigid components, which restrict natural movement. Companies are adopting fabric-based soft pneumatic actuators, electroactive polymers, advanced sensors to create flexible, wearable exoskeletons. These provide better comfort, adjustability, freedom of movement for rehabilitation and assistive applications compared to rigid exoskeletons.
  • Advancements in robotics and control systems: Innovations in robotics, automation, and control systems such as HAL (Hybrid Assistive Limb) are supporting the development of next-gen medical exoskeletons. The integration of human-intent reading algorithms, predictive AI, and machine learning algorithms are enabling natural, synchronized movements in self-powered exoskeletons. Companies are incorporating advancements such as improved gear systems, bidirectional communication, predictive joint control, and machine learning algorithms to develop energy efficient, autonomous exoskeletons.
  • Development of pediatric exoskeletons: Product development targeted towards the design of adjustable, modular exoskeletons for the treatment of movement disorders in children is rising. Companies are integrating technologies such as remote connectivity, gamification, and AI coaching avatars to develop pediatric exoskeletons focused on enhancing user engagement and rehabilitation therapy outcomes. These innovations help encourage the active participation of children in physical therapy programs leveraging exoskeletons.
  • Adoption of connected exoskeletons: The incorporation of connectivity technologies such as IoT and analytics in medical exoskeletons for rehabilitation and industrial applications is rising. Connected exoskeletons allow monitoring device performance parameters along with tracking patient recovery progress through dashboards. This enables clinicians optimize therapy programs and sua quantitative progress data. In industrial settings, connected exoskeletons help minimize workplace injury risks by identifying poor ergonomics and overexertion. Real-time user feedback further helps enhance workplace safety and ergonomic optimization.

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now
Logo

Credibility and Certifications

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Credibility and Certifications

27001:2022

Credibility and Certifications

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo
© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.