(EMAILWIRE.COM, May 26, 2021 ) The report “Medical Exoskeleton Market by Component (Hardware (Sensor, Actuator, Control System, Power Source), Software), Type (Powered, Passive), Extremities (Lower, Upper) & Mobility (Mobile, Stationary) – Global Forecast”, projected to reach USD 571.6 million, at a CAGR of 37.4%.

A medical exoskeleton, also known as a wearable robot, is a robotic machine suite worn by humans in place of their limbs to complement, substitute, and enhance human functions. It helps in physical movements by offering increased strength and endurance.

Growth Opportunity: Introduction of soft actuators;

Currently, the medical exoskeletons industry is focusing on developing soft exoskeletons (without electronic motors and heavy batteries), which augment normal muscle function in healthy individuals for commercial use. Currently, these exoskeletons are available only for research purposes. Such exoskeletons have soft actuators that can be easily driven by an off-board compressor.

Soft exoskeletons are attached to the body securely and comfortably and transmit forces over the body through beneficial paths such that biologically appropriate moments are created at the joints. Compared to traditional exoskeletons, these exoskeletons are ultra-light-weight and have low mechanical impedance and inertia. The use of soft actuators has led to the development of inexpensive gait-supportive exoskeletons, creating opportunities for new players in the industry.

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Lower extremity medical exoskeletons are expected to dominate the market in 2018

By Extremity, segmented into lower extremity medical exoskeletons and upper extremity medical exoskeletons. In 2018, lower extremity medical exoskeletons segment is expected to account for the largest share of the global medical exoskeleton market. Lower extremity exoskeletons provide stability to paralyzed and geriatric patients and offer weight-bearing and locomotion capabilities. As a result, they are more widely adopted for rehabilitation applications.

Geographical View in-detailed:

North America is expected to dominate the Medical Exoskeleton Market followed by Europe. The large share of this geographical segment is attributed to the growing geriatric population, increasing demand for self-assist exoskeletons, growing number of spinal cord injuries (SCI), and the high prevalence of stroke in the region.

Global Key Leaders:

The medical exoskeleton market includes various players. The major players in the market are Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd (Israel), Parker Hannifin Corp (US), Bionik Laboratories Corp (Canada), CYBERDYNE Inc. (Japan), Rex Bionics Ltd. (UK), B-TEMIA Inc. (Canada), Hocoma AG (A Subsidiary of DIH Technologies) (Switzerland), Wearable Robotics SRL (Italy), Gogoa Mobility Robots SL (Spain), and ExoAtlet, O.O.O. (Russia).

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Ekso Bionics Holdings, Inc. (US) is a pioneer in the medical exoskeleton domain and the company dominated the market in 2017. The leading position of the company can be attributed to its wide geographical presence, it Ekso Bionics sells its products across North America, Europe, the Middle East, and Africa. The company offers advanced products in the market, such as the EksoGT, which is a wearable robotic exoskeleton that enables individuals to stand up and walk with a full weight bearing, reciprocal gait in a clinical setting. Similarly, the Ekso GT, with a smart Variable Assist software (designed for rehabilitation institutions) provides adaptive amounts of power to either side of the patient’s body, engaging the patient throughout his or her continuum of care. To date, the Ekso has helped patients take more than 41 million steps in over 115 rehabilitation institutions around the world.

Parker Hannifin Corp (US) held the second position in the medical exoskeleton market in 2017. This can be attributed to the company’s strong brand name in high-growth geographies and its wide geographical presence. Parker Hannifin sells its products in the US and Europe. Furthermore, to expand its territorial reach, the company also sells its products in Asia and the Middle East through its strong distribution network. To strengthen its position Parker Hannifin also focuses on product approvals, for example, in September 2017, the company received expanded FDA clearance for its Indego Exoskeleton for personal and clinical use.