Navigating Updates in Medical Exoskeleton Market : to Generate USD 3.04 Billion by 2031: Allied Market Research Predicts

According to the report published by Allied Market Research, the global medical exoskeleton market generated $232.5 million in 2021, and is estimated to reach $3.04 billion by 2031, witnessing a CAGR of 29.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

Report coverage & details:

Report Coverage	Details
Forecast Period	2022–2031
Base Year	2021
Market Size in 2021	$232.5 million
Market Size in 2031	$3.04 billion
CAGR	29.4%
No. of Pages in Report	264
Segments Covered	Type, Mobility, Component, Application, and Region
Drivers	Rise in the prevalence of neurological disorders such as Parkinson’s disease and multiple sclerosis
	Increase in the prevalence of spinal cord injuries and traumatic brain injuries
	Surge in the adoption of medical exoskeleton devices
Opportunities	Rise in the number of product launches and approvals
Restraints	The negative impact of Covid-19 outbreak

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Covid-19 Scenario:

• The demand for medical exoskeleton devices declined as a result of the lockdown during the COVID-19 pandemic, which negatively affected the market growth.
• However, as soon as the global situation started recovering, the market also got back on track.

The report offers a detailed segmentation of the global medical exoskeleton market based on type, mobility, component, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on type, the powered exoskeleton segment accounted for the highest share in 2021, garnering more than four-fifths of the global medical exoskeleton market, and would maintain its dominance in terms of revenue through 2031. However, the passive exoskeleton segment is estimated to witness the fastest CAGR of 30.0% from 2022 to 2031.

Based on mobility, the stationary segment held the highest share in 2021, accounting for more than four-fifths of the global medical exoskeleton market, and is expected to continue its leadership status through 2031. The mobile segment, however, is anticipated to register the highest CAGR of 30.3% from 2022 to 2031.

Based on component, the hardware segment accounted for the highest share in 2021, contributing to more than three-fourths of the global medical exoskeleton market, and is expected to maintain its lead in terms of revenue through 2031. However, the software segment is expected to manifest the highest CAGR of 29.9% from 2022 to 2031.

Based on application, the spinal cord injury segment accounted for the highest share in 2021, accounting for more than three-fifths of the global medical exoskeleton market, and is expected to continue its lead position, in terms of revenue, through 2031. However, the same segment is expected to register the fastest CAGR of 29.9% from 2022 to 2031. The stroke and others segments were also assessed in the study.

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Based on region, the market in North America was the largest in 2021, accounting for around two-fifths of the global medical exoskeleton market, and is projected to maintain its dominant share in terms of revenue through 2031. However, the market in Asia-Pacific region is expected to manifest the highest CAGR of 30.6% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.

Leading Market Players: –

• ExoAtlet
• DIH Medical
• CYBERDYNE INC.
• B-Temia
• Rewalk Robotics
• Human Motion Technologies LLC
• Ekso Bionics
• Wearable Robotics srl
• Ergosante
• Ottobock SE & Co. KGaA (suit X)

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