Medical Exoskeleton Market Analysis

1. Market Size & CAGR of Medical Exoskeleton Market in 2021

According to the latest research data, the global medical exoskeleton market is expected to have a growth rate of 8.2% CAGR from 2021 to 2027. The market size is anticipated to reach USD 572.3 million by 2027.

2. Impact of COVID-19 on the Medical Exoskeleton Market

The COVID-19 pandemic had a significant impact on the medical exoskeleton market. Due to restrictions on elective surgeries and disruptions in the healthcare sector, the market witnessed a temporary slowdown in 2020. However, with the gradual resumption of healthcare services, the market is expected to rebound and show positive growth in the coming years.

3. Medical Exoskeleton Dynamics

The medical exoskeleton market is driven by factors such as the increasing prevalence of neurological disorders, musculoskeletal injuries, and the growing geriatric population. The advancements in exoskeleton technology, such as lightweight materials and improved battery life, are also fueling market growth.

4. Segments and Related Analysis

The medical exoskeleton market can be segmented based on technology, type, end-user, and region. The key segments include powered exoskeletons, passive exoskeletons, rehabilitation exoskeletons, military exoskeletons, and more. Each segment has its unique market dynamics and growth opportunities.

5. By Region Analysis

The global medical exoskeleton market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America currently dominates the market due to the presence of key players and favorable healthcare infrastructure. However, the Asia Pacific region is expected to witness the highest growth rate in the coming years.

6. Key Market Players and Competitive Landscape

Some of the key players in the medical exoskeleton market include Ekso Bionics Holdings, Inc., ReWalk Robotics, Parker Hannifin Corp, Cyberdyne, Inc., and Bionik Laboratories Corp. These companies are actively involved in product development, mergers, and acquisitions to maintain their competitive edge in the market.

7. Recent Happenings in the Medical Exoskeleton Market

In recent developments, Ekso Bionics launched a new lightweight exoskeleton for individuals with mobility impairments. ReWalk Robotics introduced a next-generation exoskeleton system with enhanced features for better user experience. These technological advancements are set to drive the growth of the medical exoskeleton market in the near future.