Medical Exoskeleton Market is expected to propel US$ XX Mn by 2026 with a CAGR of XX% in the forecasting period 2019-2026.
Exoskeletons are special wearable devices that work in synchronization with the user. The exoskeletons are usually placed on the user’s body, acting as amplifiers that enhance, and restore human performance. These exoskeletons are usually either made out of rigid materials which include metal or carbon fiber or can even be made out of soft and elastic parts. These are powered and equipped with special sensors and actuators, or can be entirely passive depending on its usage or application.
The increase in a number of people having physical infirmities together with consequent development in the demand for effective rehabilitation approaches across numerous countries some of the major factors that are driving the growth of the medical exoskeleton market. In the recent years, there has been an increase in rehabilitation therapies for elderly patients as well along with the usage in the military for assisting injured soldiers in motion that have further driven the overall market growth of medical exoskeleton. However, it is the high cost of the products that will act as a major restraint for the growth of the Medical Exoskeleton Market.
The hardware segment within components is expected to hold the largest market share in 2017. The presence of a large number of parts like sensors, actuators, power sources, and control systems that are required to manufacture exoskeletons all come under the hardware component resulting in its high demand. Manufacturers globally are also working on the hardware components to strengthen and enhance the exoskeletons.
Medical Exoskeleton Market, By Geography
The Medical Exoskeleton Market is segmented by material type, product type, component, mobility, end-user, and region. Based on the material type, the medical exoskeleton market can be classified into metal and non-metal segment. By product type, the market is divided into the complete body, upper body, and lower body exoskeletons. The lower exoskeletons are expected to hold a significant market share as compared to the other sub-segments. The end-user for medical exoskeleton market includes the healthcare and defense sector. The higher investments in the medical infrastructure along with accidents in the military circle are the two key drivers for the huge application of medical exoskeleton in the healthcare sector and defense sector.
By geography, the Medical Exoskeleton Market can be segmented into North America, Europe, Asia Pacific, Middle East, and Latin America. The market for medical exoskeleton is dominated by North America, followed by Europe. It is due to factors like the, increasing demand for self-assist exoskeletons, growing geriatric population, the high prevalence of stroke, and the growing number of spinal cord injuries (SCI) that the demand for Medical Exoskeleton Market is growing for the current forecast period.
The key players of Medical Exoskeleton Market include Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd. (Israel), Parker Hannifin Corp (US), Bionik Laboratories Corp (Canada), and Raytheon Company (U.S.).
The objective of the report is to present comprehensive analysis Medical Exoskeleton Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Medical Exoskeleton Market dynamics, structure by analyzing the market segments, and project the Medical Exoskeleton Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Medical Exoskeleton Market make the report investor’s guide.
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Medical Exoskeleton Market scope:-
Medical Exoskeleton Market, By Material Type
Medical Exoskeleton Market, By Product Type
• Full Body
• Upper Body
• Lower Body
Medical Exoskeleton Market, By Mobility
Medical Exoskeleton Market, By Component
o Control Systems
Medical Exoskeleton Market, By End-user
Medical Exoskeleton Market, By Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in the market:
• Ekso Bionics Holdings, Inc.
• ReWalk Robotics Ltd.
• Parker Hannifin Corp
• Bionik Laboratories Corp
• Raytheon Company
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current Medical Exoskeleton Market outlook. The report encompasses the Medical Exoskeleton market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for taking an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Medical Exoskeleton Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Medical Exoskeleton Market positioning of competitors.
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