Boom Expected in Exoskeleton Market in Future

Every year in the U.S., for every 1 million people, 54 suffer from spinal cord injuries (SCIs), which comes out to a total annual incidence of 17,730 cases, as per the National Spinal Cord Injury Statistical Center (NSCISC). As a result, the global exoskeleton market is predicted to grow massively, from just $290.3 million in 2019 to over $6,957.9 million by 2030, at a 35.9% CAGR between 2020 and 2030, according to P&S Intelligence.

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The increasing incidence of strokes and SCIs are boosting the demand for exoskeletons in healthcare facilities such as clinics and rehabilitation centers and augmenting the revenue of the exoskeleton industry players. These systems help the patients suffering from paralysis walk again. For example, as per the National Spinal Cord Injury Statistical Center (NSCISC), in the U.S., there are nearly 17,730 new cases of SCI or around 54 cases per one million individuals every year.

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Based on type, the exoskeleton market is divided into passive and powered. Between these, the powered category is predicted to register higher growth in the market in the future years. This would be because of the increasing usage of powered exoskeleton devices in various applications and also in the defense industry in several developed countries across the world. Geographically, the market is predicted to record the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years.

Geographically, the exoskeleton market was dominated by North America in 2019, and is region is predicted to contribute the largest revenue share to the market during the forecast period as well. Exoskeletons are extensively being used by military personnel and the healthcare sector. In addition to this, the regional market is growing because of the rising workforce of disabled people and increased availability of these products. The Asia-Pacific region is expected to register the fastest growth during the forecast period.

This study covers

  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
  • Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
  • Major players operating in the market and their service offerings
  • Recent strategic developments by the major players in the market

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