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Global Wearable Robotic Exoskeleton Market

Global Wearable Robotic Exoskeleton Market - Analysis and Forecast (2017-2026) Focus on Type (Passive and Active/Powered), End User (Healthcare, Industrial, Defense, and Commercial), and Application (Rehabilitation, Assistive, Body Parts Support, and Sports)

The wearable robotic exoskeleton market is witnessing a high growth rate owing to machine intelligence surpassing human intelligence in defense industry, rise in demand of exoskeletons for rehabilitation application, and rapidly growing aged population.

SKU: AD030A
Published Year: 2017
 
 

The wearable robotic exoskeleton market is experiencing an advanced rate of growth over the past couple of years due to increasing demand of robotic assistance and rehabilitation application for the therapy of patients suffering from neurological and musculoskeletal disorders. This high scale of growth of the robotics industry is subsequently influencing the wearable robotic exoskeleton market, wherein a new range of programs are being carried out to develop latest exoskeleton technologies, such as soft actuators, 3D printed exoskeleton structure, and highly efficient & durable Li-ion batteries, among others. The growing demand of exoskeletons for varied industries for applications, such as rehabilitation, assistance, body part support, and sports, is a major factor driving the growth of wearable robotic exoskeleton market. Furthermore, the wearable robotic exoskeleton market has been a significant area of focus in the robotics industry, in order to deliver consistent & repeatable movement therapy, improve endurance & safety in industrial settings, bring new capabilities to fighting forces, increase productivity at work place, reducing the risk of injury, and also facilitate recreational activities such as skiing, golfing, and hiking, among others. In terms of revenue, the wearable robotic exoskeleton market generated $96.0 million in the year 2016.

Following points provide a concrete description of the report content and the topics covered in the report:

  • What is the size, in terms of revenue and volume, of wearable robotic exoskeleton market in 2016, and growth rate during the forecast period, 2017-2026?
  • What is the market size of different types of exoskeletons (active and passive), based on the industry (healthcare, industrial, commercial, and defense) in which they are being utilized?
  • What was the market value of different applications of exoskeletons in 2016, on the basis of varied industries?
  • What is the market size of exoskeletons on the basis of different geographical regions and respective leading nations? Furthermore, what is the market size of different types of exoskeletons being consumed in these regions?
  • What are the key trends and opportunities in exoskeleton market, across different regions and respective countries?
  • What are the major driving forces that tend to increase the demand of exoskeletons during the forecast period?
  • What are the major challenges inhibiting the growth of the global wearable robotic exoskeleton market?
  • What kind of new strategies are being adopted by existing market players to make a mark in the industry?
  • What is the competitive strength of key players in the wearable robotic exoskeleton market by analyzing through market share analysis and competitive benchmarking model?
  • The report also provides industry insights through patent analysis, value chain model, , product and pricing analysis as well as details about emerging companies ( startups) in wearable robotic exoskeleton market 
  • Additionally, detailed analysis and profiling of key market players have been covered in the report. Furthermore, company profile section covers the business financials, company snapshots, key products & services, major developments, SWOT analysis and future programs (if any) of 16 leading players in the market

TABLE OF CONTENT
Executive Summary
1 Research Scope & Methodology
1.1 Scope of the Report
1.2 Global Wearable Robotic Exoskeleton Market Research Methodology
2 Market Dynamics
2.1 Market Dynamics
2.2 Drivers
2.2.1 Machine Intelligence Surpassing Human Intelligence in Defense Industry
2.2.2 Rise in the Demand of Exoskeletons for Rehabilitation Application
2.2.3 Rapidly Growing Aged Population
2.3 Challenges
2.3.1 Stringent Government Regulations for Exoskeletons in Healthcare Industry
2.3.2 Significant Reduction in Selling Price of Powered Exoskeletons
2.4 Opportunities
2.4.1 Advancements in Soft Actuators for Exoskeletons
2.4.2 Growing Interest of Insurance Companies Towards Exoskeletons for Rehabilitation
2.4.3 Increasing Utilization for Exoskeletons by Industrial Sector
3 Competitive Insights
3.1 Competitive Landscape
3.2 Key Market Developments and Strategies in the Global Wearable Robotic Exoskeleton Market
3.2.1 Product Launches And Business Expansion
3.2.2 Partnership, Joint Venture, and Collaboration
3.2.3 Mergers and Acquisitions
3.2.4 Others
3.3 Market Share Analysis and Competitive Benchmarking
4 Industry Analysis
4.1 Evolution of Exoskeleton and Technological Advancements
4.2 Product Assortment and Pricing Analysis
4.3 Exoskeleton Start-Ups, 2001-2016
4.4 Patent Analysis
4.5 Value Chain Analysis
5 Global Wearable Robotic Exoskeleton Market
5.1 Assumptions and Limitations
5.2 Market Overview
5.2.1 Market Definition
6 Global Wearable Robotic Exoskeleton Market by Type
6.1 Market Overview
6.2 Passive Exoskeleton
6.2.1 Passive Exoskeleton Market Analysis by End User
6.3 Active (Powered) Exoskeleton
6.3.1 Active Exoskeleton Market Analysis by End User
7 Global Wearable Robotic Exoskeleton Market by End User
7.1 Market Overview
7.2 Healthcare
7.2.1 Wearable Robotic Exoskeleton Market Analysis for Healthcare by Application
7.3 Industrial
7.3.1 Wearable Robotic Exoskeleton Market Analysis for Industrial by Application
7.4 Defense
7.4.1 Wearable Robotic Exoskeleton Market Analysis for Defense by Application
7.5 Commercial
7.5.1 Wearable Robotic Exoskeleton Market Analysis for Commercial by Application
8 Global Wearable Robotic Exoskeleton Market by Application
8.1 Market Overview
8.2 Rehabilitation
8.3 Assistive
8.4 Body Parts Support
8.5 Sports
9 Global Wearable Robotic Exoskeleton Market by Region
9.1 Market Overview
9.2 North America
9.2.1 North American Wearable Robotic Exoskeleton Market Analysis by Type
9.2.2 The U.S. Wearable Robotic Exoskeleton Market
9.2.3 Canadian Wearable Robotic Exoskeleton Market
9.3 Europe
9.3.1 European Wearable Robotic Exoskeleton Market Analysis by Type
9.3.2 The U.K. Wearable Robotic Exoskeleton Market
9.3.3 Germany Wearable Robotic Exoskeleton Market
9.3.4 France Wearable Robotic Exoskeleton Market
9.3.5 Russian Wearable Robotic Exoskeleton Market
9.3.6 Spain Wearable Robotic Exoskeleton Market
9.3.7 Rest of Europe Wearable Robotic Exoskeleton Market
9.4 Asia-Pacific
9.4.1 Asia-Pacific Wearable Robotic Exoskeleton Market Analysis by Type
9.4.2 China Wearable Robotic Exoskeleton Market
9.4.3 Indian Wearable Robotic Exoskeleton Market
9.4.4 Japan Wearable Robotic Exoskeleton Market
9.4.5 South Korean Wearable Robotic Exoskeleton Market
9.4.6 Rest of Asia-Pacific Wearable Robotic Exoskeleton Market
9.5 Rest of the World (RoW)
9.5.1 Rest of the World Wearable Robotic Exoskeleton Market Analysis by Type
9.5.2 Middle East Wearable Robotic Exoskeleton Market
9.5.3 Latin America Wearable Robotic Exoskeleton Market
9.5.4 African Wearable Robotic Exoskeleton Market
10 Company Profile
10.1 ATOUN Inc.
10.1.1 Company Overview
10.1.2 Product Offerings
10.1.3 SWOT Analysis
10.2 B-Temia Inc.
10.2.1 Company Overview
10.2.2 Product Offerings
10.2.3 SWOT Analysis
10.3 Bionik Laboratories Corporation
10.3.1 Company Overview
10.3.2 Product Offerings
10.3.3 Financials
10.3.3.1 Overall Financials
10.3.4 SWOT Analysis
10.4 Cyberdyne Inc.
10.4.1 Company Overview
10.4.2 Product Offerings
10.4.3 Financials
10.4.3.1 Overall Financials
10.4.3.2 Geographic Revenue Mix
10.4.4 SWOT Analysis
10.5 Daiya Industry Co., Ltd.
10.5.1 Company Overview
10.5.2 Product Offerings
10.6 Ekso Bionics Holdings, Inc.
10.6.1 Company Overview
10.6.2 Product Offerings
10.6.3 Financials
10.6.3.1 Overall Financials
10.6.3.2 Business Segment Revenue Mix
10.6.3.3 Geographic Revenue Mix
10.6.4 SWOT Analysis
10.7 Focal Meditech BV
10.7.1 Company Overview
10.7.2 Product Offerings
10.7.3 SWOT Analysis
10.8 Hocoma AG
10.8.1 Company Overview
10.8.2 Product Offerings
10.8.3 SWOT Analysis
10.9 Honda Motor Co., Ltd.
10.9.1 Company Overview
10.9.2 Product Offerings
10.9.3 Financials
10.9.3.1 Overall Financials
10.9.3.2 Business Segment Revenue Mix
10.9.3.3 Geographic Revenue Mix
10.9.4 SWOT Analysis
10.10 Lockheed Martin Corporation
10.10.1 Company Overview
10.10.2 Product Offerings
10.10.3 Financials
10.10.3.1 Overall Financials
10.10.3.2 Business Segment Revenue Mix
10.10.3.3 Geographic Revenue Mix
10.10.4 SWOT Analysis
10.11 Mitsubishi Heavy Industries, Ltd.
10.11.1 Company Overview
10.11.2 Product Offerings
10.11.3 Financials
10.11.3.1 Overall Financials
10.11.3.2 Segment Revenue Mix
10.11.3.3 Geographic Revenue Mix
10.11.4 SWOT Analysis
10.12 Myomo Inc.
10.12.1 Company Overview
10.12.2 Product Offerings
10.12.3 Financials
10.12.3.1 Overall Financials
10.13 P&S Mechanics Co. Ltd.
10.13.1 Company Overview
10.13.2 Product Offerings
10.14 Parker Hannifin Corporation
10.14.1 Company Overview
10.14.2 Product Offerings
10.14.3 Financials
10.14.3.1 Overall Financials
10.14.3.2 Segment Revenue Mix
10.14.3.3 Geographic Revenue Mix
10.14.4 SWOT Analysis
10.15 ReWalk Robotics Ltd.
10.15.1 Company Overview
10.15.2 Product Offerings
10.15.3 Financials
10.15.3.1 Overall Financials
10.15.3.2 Geographic Revenue Mix
10.15.4 SWOT Analysis
10.16 Rex Bionics PLC
10.16.1 Company Overview
10.16.2 Product Offerings
10.16.3 Financials
10.16.3.1 Overall Financials
10.16.3.2 Geographic Revenue Mix
10.16.4 SWOT Analysis
11 Appendix
11.1 Related Reports
List of Tables
Table 2.1 Major Rehabilitation Exoskeletons
Table 2.2 Powered Exoskeletons: Cost Analysis
Table 3.1 New Product Launches
Table 3.2 Partnership, Joint Venture, and Collaboration
Table 3.3 Mergers and Acquisitions
Table 3.4 Others
Table 4.1 Product Offerings by Leading Exoskeleton Manufacturers
Table 4.2 Features and User Characteristics of Top Powered Exoskeletons
Table 4.3 Pricing of Exoskeleton, 2016
Table 4.4 Exoskeleton and Emerging Start-Ups
Table 4.5 Patent Analysis: Trunk Supporting Exoskeleton and Method of Use
Table 4.6 Patent Analysis: Exoskeleton and Method of Providing an Assistive Torque to an Arm of a Wearer
Table 4.7 Patent Analysis: Exoskeleton and Method of Using the Same
Table 4.8 Patent Analysis: Lower Extremity Exoskeleton Muscle Power Driven Means to a Pneumatic
Table 4.9 Patent Analysis: Human Exoskeleton Devices for Heavy Tool Support and Use
Table 4.10 Patent Analysis: Exoskeleton Device
Table 4.11 Patent Analysis: Passive Mechanical Exoskeleton to Reduce Hand Fatigue
Table 4.12 Patent Analysis: Exoskeleton Devices for Use with Elongated Medical Instruments
Table 4.13 Patent Analysis: Exoskeleton Suit
Table 4.14 Patent Analysis: Passive Ankle Exoskeleton
Table 6.1 Global Wearable Robotic Exoskeletons Market by Type, 2016-2026
Table 6.2 Applications of Passive Exoskeleton, by End User
Table 6.3 Applications of Active Exoskeleton, by End User
Table 7.1 Global Wearable Robotic Exoskeletons Market by End User, 2016-2026
Table 8.1 Global Wearable Robotic Exoskeletons Market by Application, 2016-2026
Table 8.2 Exoskeletons for Rehabilitation Application, 2016
Table 8.3 Exoskeletons for Assistive Application, 2016
Table 8.4 Exoskeletons for Body Parts Support Application, 2016
Table 8.5 Exoskeletons for Sports Application, 2016
Table 9.1 Global Wearable Robotic Exoskeletons Market by Region, 2016-2026
List of Figures
Figure 1 Global Robotics Sales, 2015-2021 (Units)
Figure 2 Global Population Suffering From Neurological and Musculoskeletal Diseases by Age Group (Thousands)
Figure 3 Global Wearable Robotic Exoskeleton Market by Value and Volume 2016-2026 ($Million)
Figure 4 Global Wearable Robotic Exoskeleton Market by Type, 2016-2026 ($Million)
Figure 5 Global Wearable Robotic Exoskeleton Market by End User, 2016-2026 ($Million)
Figure 6 Global Wearable Robotic Exoskeleton Market by Application, 2016-2026 ($Million)
Figure 7 Global Wearable Robotic Exoskeleton Market by Region, 2016-2026 ($Million)
Figure 1.1 Global Wearable Robotic Exoskeleton Market Segmentation
Figure 1.2 Secondary Data Sources
Figure 1.3 Top Down and Bottom up Approach
Figure 1.4 Global Wearable Robotic Exoskeleton Market Influencing Factors
Figure 1.5 Assumptions and Limitations
Figure 2.1 Global Wearable Robotic Exoskeleton Market Dynamics
Figure 2.2 DRPA’s Budget for Defense Research Sciences, 2007-2018
Figure 2.3 World Health Expenditure, as a Percentage of World GDP, 2000 - 2014
Figure 2.4 World Population with Ages 65 and Above, 2010 - 2016 (Million)
Figure 2.5 Regulatory Bodies Involved in the Global Exoskeletons Market
Figure 2.6 Worldwide Annual Supply of Industrial Robots (Units)
Figure 3.1 Some of the Organic and Inorganic Growth Strategies Adopted by the Key Players
Figure 3.2 Share of Key Developments and Strategies in the Global Wearable Robotic Exoskeleton Market
Figure 3.3 Number of Strategic Developments by Leading Companies in the Global Wearable Robotic Exoskeleton Market, 2015 - 2017
Figure 3.4 Global Wearable Robotic Exoskeleton Market: Market Share Analysis, 2016
Figure 3.5 Exoskeleton: Competitive Benchmarking
Figure 4.1 Major Technological Advancements in Exoskeleton
Figure 4.2 Number of Patents Published in Global Wearable Robotic Exoskeleton Market: 2012-2017
Figure 4.3 Number of Patents Filed by Leading Players (till July 2017)
Figure 4.4 Exoskeleton: Value Chain Analysis
Figure 4.5 Focus Areas for Exoskeleton Designing
Figure 4.6 Manufacturing Cost Scenario for Powered Exoskeletons
Figure 5.1 Global Wearable Robotic Exoskeleton Market by Value and Volume 2016-2026
Figure 6.1 Classification of Exoskeletons Market by Type, Market Share (%) 2016
Figure 6.2 Global Wearable Robotic Exoskeletons Market by Type 2016-2026 ($Million)
Figure 6.3 Passive and Active Exoskeletons by Industry, 2016
Figure 6.4 Global Passive Exoskeletons Market Size, 2016-2026 ($Million)
Figure 6.5 Global Passive Exoskeletons Market Analysis by End User, 2016 – 2026 ($Million)
Figure 6.6 Global Active Exoskeletons Market Size, 2016-2026 ($Million)
Figure 6.7 Active Exoskeletons Market Analysis by End User, 2016 – 2026 ($Million)
Figure 7.1 Classification of Wearable Robotic Exoskeletons Market by End User
Figure 7.2 Global Wearable Robotic Exoskeletons Market by End User, 2016 and 2026 ($Million)
Figure 7.3 Global Wearable Robotic Exoskeletons Market for Healthcare, 2016-2026 ($Million)
Figure 7.4 Exoskeletons for Healthcare, 2016
Figure 7.5 Wearable Robotic Exoskeletons Market Analysis for Healthcare by Application, 2016 – 2026
Figure 7.6 Global Wearable Robotic Exoskeletons Market for Industrial, 2016-2026 ($Million)
Figure 7.7 Exoskeletons for Industrial, 2016
Figure 7.8 Wearable Robotic Exoskeletons Market Analysis for Industrial by Application, 2016 – 2026
Figure 7.9 Global Wearable Robotic Exoskeletons Market for Defense, 2016-2026 ($Million)
Figure 7.10 Wearable Robotic Exoskeletons Market Analysis for Defense by Application, 2016 – 2026
Figure 7.11 Global Wearable Robotic Exoskeletons Market for Commercial, 2016-2026 ($Million)
Figure 7.12 Exoskeletons Market Analysis for Commercial Industry by Application, 2016 – 2026
Figure 8.1 Global Wearable Robotic Exoskeletons Market Share, by Application, 2016 (%)
Figure 8.2 Global Wearable Robotic Exoskeletons Market Size and Share, by Application, 2016 and 2026
Figure 8.3 Global Wearable Robotic Exoskeletons Market for Rehabilitation, 2016-2026 ($Million)
Figure 8.4 Exoskeleton Developments for Rehabilitation Application, 2015-2017
Figure 8.5 Global Wearable Robotic Exoskeletons Market for Assistive, 2016-2026 ($Million)
Figure 8.6 Exoskeleton Developments for Assistive Application, 2015-2017
Figure 8.7 Global Wearable Robotic Exoskeletons Market for Body Parts Support, 2016-2026 ($Million)
Figure 8.8 Exoskeleton Developments for Body Parts Support Application, 2015-2017
Figure 8.9 Global Wearable Robotic Exoskeletons Market for Sports, 2016-2026 ($Million)
Figure 8.10  Exoskeleton Developments for Sports Application, 2016-2017
Figure 9.1 Classification of Wearable Robotic Exoskeletons Market by Region
Figure 9.2 Wearable Robotic Exoskeletons Market by Geography, 2016-2026 ($Million)
Figure 9.3 North American Wearable Robotic Exoskeleton Market by Country
Figure 9.4 North American Wearable Robotic Exoskeleton Market Analysis by Type
Figure 9.5 The U.S. Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.6 Canadian Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.7 European Wearable Robotic Exoskeleton Market by Country
Figure 9.8 European Wearable Robotic Exoskeleton Market Analysis by Type
Figure 9.9 The U.K. Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.10 Germany Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.11 France Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.12 Russian Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.13 Spain Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.14 Rest of Europe Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.15 Asia-Pacific Wearable Robotic Exoskeleton Market by Country
Figure 9.16 Asia-Pacific Wearable Robotic Exoskeleton Market Analysis by Type
Figure 9.17 China Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.18 Indian Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.19 Japan Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.20 South Korean Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.21 Rest of Asia-Pacific Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.22 Rest of the World Wearable Robotic Exoskeleton Market by Country
Figure 9.23 Rest of the World Wearable Robotic Exoskeleton Market Analysis by Type
Figure 9.24 Middle East Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.25 Latin America Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 9.26 African Wearable Robotic Exoskeleton Market Size, 2016-2026 ($Million)
Figure 10.1 ATOUN Inc.: Product Offerings
Figure 10.2 B-Temia Inc.: Product Offerings
Figure 10.3 Bionik Laboratories Corporation: Product Offerings
Figure 10.4 Bionik Laboratories Corporation – Overall Financials, 2014-2016
Figure 10.5 Cyberdyne Inc.: Product Offerings
Figure 10.6 Cyberdyne Inc. – Overall Financials, 2015-2017
Figure 10.7 Cyberdyne Inc. – Geographic Revenue Mix, 2015-2016
Figure 10.8 Daiya Industry Co., Ltd.: Product Offerings
Figure 10.9 Ekso Bionics Holdings, Inc.: Product Offerings
Figure 10.10 Ekso Bionics Holdings, Inc. – Overall Financials, 2014-2016
Figure 10.11 Ekso Bionics Holdings, Inc. – Business Segment Revenue Mix, 2014-2016
Figure 10.12 Ekso Bionics Holdings, Inc. – Geographic Revenue Mix, 2015-2016
Figure 10.13 Focal Meditech BV: Product Offerings
Figure 10.14 Hocoma AG: Product Offerings
Figure 10.15 Honda Motor Co., Ltd.: Product Offerings
Figure 10.16 Honda Motor Co., Ltd. – Overall Financials, 2015-2017
Figure 10.17 Honda Motor Co., Ltd. – Business Segment Revenue Mix, 2015-2017
Figure 10.18 Honda Motor Co., Ltd. – Geographic Revenue Mix, 2015-2017
Figure 10.19 Lockheed Martin Corporation: Product Offerings
Figure 10.20 Lockheed Martin Corporation – Overall Financials, 2014-2016
Figure 10.21 Lockheed Martin Corporation – Business Segment Revenue Mix, 2014-2016
Figure 10.22 Lockheed Martin Corporation – Geographic Revenue Mix, 2015-2016
Figure 10.23 Mitsubishi Heavy Industries, Ltd.: Product Offerings
Figure 10.24 Mitsubishi Heavy Industries, Ltd. – Overall Financials, 2014-2016
Figure 10.25 Mitsubishi Heavy Industries, Ltd. – Business Segment Revenue Mix, 2014-2016
Figure 10.26 Mitsubishi Heavy Industries, Ltd. – Geographic Revenue Mix, 2015-2016
Figure 10.27 Myomo Inc. – Overall Financials, 2014-2016
Figure 10.28 P&S Mechanics Co., Ltd.: Product Offerings
Figure 10.29 Parker Hannifin Corporation: Product Offerings
Figure 10.30 Parker Hannifin Corporation – Overall Financials, 2014-2016
Figure 10.31 Parker Hannifin Corporation – Business Segment Revenue Mix, 2014-2016
Figure 10.32 Parker Hannifin Corporation – Geographic Revenue Mix, 2015-2016
Figure 10.33 ReWalk Robotics Ltd.: Product Offerings
Figure 10.34 ReWalk Robotics Ltd. – Overall Financials, 2014-2016
Figure 10.35 ReWalk Robotics Ltd. – Geographic Revenue Mix, 2015-2016
Figure 10.36 Rex Bionics PLC – Overall Financials, 2014-2016
Figure 10.37 Rex Bionics PLC – Geographic Revenue Mix, 2015-2016

Rapid advancements in robotics technologies in the recent years has led to the emergence and growth of robotic exoskeletons, a distinctive field of robotics. Exoskeletons are defined as robotic wearable devices, providing augmentation to the body parts, rehabilitation of the dysfunctional sensory movements, and assistance to the disabled people. The first exoskeleton was developed in 1890 by Nicholas Yagin, in Russia, which was basically a set of apparatus for walking, jumping, and running assistance. Overwhelming need and interest to incorporate sensing and assistive technologies into therapy for neurological disorders such as stroke, central nervous system disorder, and spinal cord injury, has led to an increasing demand of exoskeletons for rehabilitation and assistive applications. Utilization of exoskeleton have its advantages over the conventional method of manual therapy, as it is capable of providing intensive training for patients, improved functional outcomes, and better quantitative feedback. In addition to this, exoskeletons deliver a novel solution for other emerging industries too, including industrial, defense, and commercial, for different set of applications, such as assistance, sports and body parts support.

The wearable robotic exoskeleton market will take several years to reach its full market potential and commercialization. Currently, commercial exoskeleton devices tend to be cumbersome and slow, and hence, need to be more user friendly. Moreover, the cost of powered exoskeletons present in the market is very high as compared to the passive ones. However, exoskeleton technology is continuously improving, thus, it will be only a matter of time before exoskeletons become cost effective, user-friendly, and reliable. One of the strategies opted by manufacturers to reduce the selling price is by continuously upgrading and optimizing their products, conducting clinical trials, and expanding their sales and distribution network. Another way to reduce the selling price of exoskeletons being utilized by manufacturers is to reduce the complexity of the powered exoskeleton.

FIGURE 1

GLOBAL WEARABLE ROBOTIC EXOSKELETON MARKET, 2016-2026 ($MILLION)

Global Wearable Robotic Exoskeleton Market

Source: BIS Research Analysis

The wearable robotic exoskeleton market is witnessing a high growth rate owing to machine intelligence surpassing human intelligence in defense industry, rise in demand of exoskeletons for rehabilitation application, and rapidly growing aged population. Recent innovations in exoskeleton components and services has enabled the exoskeleton technology to reach a wider segment of consumers in the industry. However, stringent government regulations for exoskeletons in healthcare industry and high selling price of powered exoskeletons, contribute as major challenges for the market. Companies are developing various forms of emerging technologies such as 3D printed electronic components & structure, durable batteries, and soft actuators, among others to develop cost effective and affordable exoskeletons. This, in effect, is expected to increase competition in the near future as well as facilitate the utilization of exoskeleton for varied applications. The wearable robotic exoskeleton market reported a revenue of $96.0 million in 2016, with healthcare industry accommodating for the highest revenue by 2026.

FIGURE 2

GLOBAL WEARABLE ROBOTIC EXOSKELETON MARKET ANALYSIS BY INDUSTRY, 2016-2026 ($MILLION)

Global Wearable Robotic Exoskeleton Market

Source: BIS Research Analysis

As the figure shows, the healthcare industry contributed largest share to the exoskeleton industry, owing to substantial number of companies in the market are manufacturing powered exoskeletons for medical usage. In the year 2016, exoskeletons for defense were mainly test trialed by the companies as a part of research and development initiatives and commercial sale was not noticeable. However, the industry is expected to grow with the highest growth rate during the forecast period, 2017 – 2026, owing to the involvement of key manufacturers as well as defense organizations in developing efficient exoskeletons for military usage.

The future demand for exoskeletons across different geographies is expected to be promising, with Europe having the highest market share during the forecast period (2016-2026), followed by Asia-Pacific, North America, and Rest of the World. Europe is expected to maintain its dominance through the forecast period, owing to the developments in active exoskeletons for healthcare industry. Emerging start-ups in the region are also very keen to develop passive exoskeletons for applications such as back support, skiing, arm support, leg support, upper body fixed rehabilitation, and military. Furthermore, there is higher spending in healthcare by the governments of different nations in the region, which accounted for 41.0% of the overall healthcare spending worldwide, in 2016. Moreover, Asia-Pacific is expected to witness the highest growth in the market, owing to increased military spending.

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