Wearable Robotic Exoskeleton Market Forecasted to Surge to USD 16.01 Billion by 2030 with 43.3% CAGR

Posted on 2024-04-10 by MarketDigits in Automotive // 0 Comments

Richmond, United States, 2024-Apr-10 — /EPR Network/ —

The Wearable Robotic Exoskeleton Market, was valued at USD 1.29 Billion and is projected to reach USD 16.01 Billion by 2030. This growth corresponds to a remarkable compound annual growth rate (CAGR) of 43.3% during the forecast period 2030.

Wearable robotic exoskeletons are revolutionizing the way we perceive mobility and physical capabilities. These advanced devices, often resembling external skeletons, are designed to augment and support human movements, offering assistance and rehabilitation for individuals with mobility impairments or enhancing performance in various industrial and military applications. The Wearable Robotic Exoskeleton Market is witnessing rapid growth as advancements in robotics, materials science, and biomechanics converge to create innovative solutions for improving human mobility and functionality. In this blog, we will delve into the dynamics, trends, innovations, and applications of wearable robotic exoskeletons.

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Major Players In Wearable Robotic Exoskeleton Market Include:

Bionic Yantra
Bionik Laboratories Corp.
B-Temia
CYBERDYNE INC.
DIH Medical
Ekso Bionics
ExoAtlet (Luxembourg)
Fourier Intelligence
Hocoma
Lockheed Martin Corporation
Medi-Touch
Ottobock
ReWalk Robotics
Rex Bionics Pty Ltd.
ROAM Robotics
Sarcos Corp.
Seismic
Trexo Robotics
Wearable Robotics Srl
Others

Understanding Wearable Robotic Exoskeletons

Wearable robotic exoskeletons are wearable devices that provide mechanical support, assistance, or augmentation to the user’s movements. These exoskeletons typically consist of rigid or flexible structures, powered actuators, sensors, and control systems that interact with the user’s body to enhance mobility, strength, or endurance. From rehabilitation and assistive devices for individuals with disabilities to industrial exoskeletons for reducing physical strain and fatigue, wearable robotic exoskeletons offer a wide range of applications and benefits.

Market Dynamics

Rising Demand for Rehabilitation and Assistive Technologies: The increasing prevalence of mobility impairments due to aging populations, injuries, and neurological conditions is driving demand for wearable robotic exoskeletons in the healthcare sector. These devices offer rehabilitation, gait training, and mobility assistance for individuals with spinal cord injuries, stroke survivors, and patients with neuromuscular disorders.
Industrial Applications for Ergonomics and Safety: In industrial settings, wearable robotic exoskeletons are used to reduce physical strain and prevent musculoskeletal injuries among workers performing repetitive or physically demanding tasks. Exoskeletons enhance worker safety, productivity, and ergonomics by providing mechanical support and reducing the risk of work-related injuries.
Military and Defense Applications: Wearable robotic exoskeletons have applications in the military and defense sector for enhancing soldiers’ performance, endurance, and carrying capacity. Military exoskeletons augment soldiers’ strength and mobility, allowing them to carry heavy loads, traverse challenging terrain, and perform strenuous tasks with reduced fatigue and injury risk.
Technological Advancements and Cost Reductions: Advances in materials science, robotics, and sensor technologies are driving innovation and cost reductions in the wearable robotic exoskeleton market. Lightweight materials, compact actuators, and intelligent control systems enable the development of more ergonomic, user-friendly, and affordable exoskeleton designs suitable for a wider range of applications and users.

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Market Trends and Innovations

Soft and Flexible Exoskeleton Designs: The emergence of soft exoskeletons made from flexible materials such as textiles and elastomers offers advantages in terms of comfort, mobility, and adaptability to the user’s body. Soft exoskeletons provide gentle assistance and support without restricting natural movements, making them suitable for applications requiring dynamic and agile movements.
Personalized and Adaptive Control Systems: Advances in artificial intelligence and machine learning enable the development of personalized and adaptive control algorithms for wearable robotic exoskeletons. These intelligent systems adapt to the user’s movement patterns, physiological parameters, and environmental conditions, optimizing assistance levels and user comfort in real-time.
Hybrid Exoskeleton Systems: Hybrid exoskeleton systems combine passive and active elements to provide customized assistance and support tailored to the user’s needs and preferences. Hybrid exoskeletons leverage the benefits of both passive mechanical structures and active powered actuators, offering versatility and efficiency in addressing different mobility challenges and tasks.

Major Segmentations Are Distributed as follows:

By Technology Type
- Powered
- Passive
By Application
- Rehabilitation
- Assistive
- Body Parts Support
- Sports
By Body Part
- Lower Body
- Upper Body
- Full Body
By Actuation Technology
- Electric
- Hydraulic
- Fully Mechanical
- Others
By End User
- Healthcare
- Manufacturing
- Defense & Aerospace
- Commercial
By Region
- North America
  - US
  - Canada
- Latin America
  - Brazil
  - Mexico
  - Argentina
  - Colombia
  - Chile
  - Peru
  - Rest of Latin America
- Europe
  - Germany
  - France
  - Italy
  - Spain
  - U.K.
  - BENELUX
  - CIS & Russia
  - Nordics
  - Austria
  - Poland
  - Rest of Europe
- Asia Pacific
  - China
  - Japan
  - South Korea
  - India
  - Thailand
  - Indonesia
  - Malaysia
  - Vietnam
  - Australia & New Zealand
  - Rest of Asia Pacific
- Middle East & Africa
  - Saudi Arabia
  - UAE
  - South Africa
  - Nigeria
  - Egypt
  - Israel
  - Turkey
  - Rest of MEA

Recent Developments

In September 2023, Ekso Bionics, a leading developer of exoskeletons for medical and industrial applications, announced that it has received FDA clearance for its EksoNR robotic exoskeleton for use in the subacute rehabilitation setting. The EksoNR is a robotic exoskeleton that helps people with mobility impairments to walk.
In August 2023, ReWalk Robotics, another leading developer of exoskeletons for medical applications, announced that it has received FDA clearance for its ReWalk Personal 6.0 exoskeleton system for use in the home and community setting. The ReWalk Personal 6.0 is a battery-powered exoskeleton that helps people with spinal cord injuries to walk.

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Conclusion

In conclusion, wearable robotic exoskeletons represent a transformative technology with diverse applications and benefits across healthcare, industry, and defense. These advanced devices have the potential to enhance human mobility, productivity, and quality of life, offering solutions for individuals with mobility impairments, workers at risk of musculoskeletal injuries, and soldiers in demanding operational environments. With ongoing innovation, research, and collaboration, wearable robotic exoskeletons are poised to play a central role in shaping the future of mobility and human-machine interaction.

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