Medical Exoskeleton Market Worth $571.6 million – Introduction of soft actuators and Recent Developments

Medical Exoskeleton Market Medical Exoskeleton Market

PUNE, India, 2021-Apr-08 — /EPR Network/ —

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.

According to the new market research 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” published by MarketsandMarkets™.

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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Expected Revenue Surge: The global medical exoskeleton market is projected to reach USD 571.6 million by 2023 from USD 116.7 million in 2018, at a CAGR of 37.4% during the forecast period.

Geographical Scenario in Depth:

North America is expected to dominate the 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.

Leading Key-Players:

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).

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.

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Recent Developments:

  • In August 2018, Bionik Laboratories integrated Amazon’s Echo (“Echo”) technology and Alexa Voice Service (“Alexa”) for ARKE lower-body exoskeleton
  • In July 2017, ReWalk entered into an agreement with Harmonie Médical Service (France). Under the agreement, Harmonie Médical Service will facilitate the distribution of ReWalk systems to the spinal cord injured (SCI) community. This will help the company to grow its market in France.

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