Wearable Robotic Exoskeleton Market Size, Share, Industry Trends and Forecast to 2030

Wearable Robotic Exoskeleton Market Size & CAGR in 2021

The global wearable robotic exoskeleton market is expected to reach a value of USD 2.5 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 10% from 2021 to 2025. This significant growth can be attributed to the increasing adoption of exoskeletons across various industries such as healthcare, military, and construction.

COVID-19 Impact on the Wearable Robotic Exoskeleton Market

The COVID-19 pandemic has had a mixed impact on the wearable robotic exoskeleton market. While the initial lockdowns and disruptions in supply chains affected the market negatively, the growing need for exoskeletons in healthcare settings to assist frontline workers and patients during the pandemic has provided a boost to the market.

Wearable Robotic Exoskeleton Dynamics

The wearable robotic exoskeleton market is driven by factors such as the increasing prevalence of musculoskeletal disorders, advancements in exoskeleton technology, and the rising demand for rehabilitation and assistive devices. Additionally, the growing investments in research and development activities to improve the performance and usability of exoskeletons are further fueling market growth.

Segments and Related Analysis

The wearable robotic exoskeleton market can be segmented based on type, application, end-user, and region. Different types of exoskeletons include full-body exoskeletons, upper body exoskeletons, and lower body exoskeletons. Applications of exoskeletons range from healthcare and military to industrial and commercial uses. Various end-users of exoskeletons include hospitals, rehabilitation centers, military organizations, and construction companies.

By Region Analysis

The wearable robotic exoskeleton market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is currently the largest market for wearable robotic exoskeletons, attributed to the presence of key market players, technological advancements, and high adoption rates in the healthcare sector.

Key Market Players and Competitive Landscape

Key players in the wearable robotic exoskeleton market include Ekso Bionics, Cyberdyne, Rex Bionics, ReWalk Robotics, Lockheed Martin, and Hocoma. These companies are actively engaged in product development, strategic partnerships, and acquisitions to gain a competitive edge in the market.

Recent Happenings in the Wearable Robotic Exoskeleton Market

In recent developments, Ekso Bionics unveiled a new lightweight and modular exoskeleton for industrial use. Cyberdyne announced the launch of a next-generation exoskeleton system for patients with mobility impairments. These advancements signify the continuous innovation and growth in the wearable robotic exoskeleton market.