According to a recent report published by Allied Market Research,
titled, "Smart
Exoskeleton Market by Component, Type, Body Part and Application: Global
Opportunity Analysis and Industry Forecast, 2018-2025,"the
global smart exoskeleton market was valued at USD 125.6 million in 2017, and is
projected to reach USD 1,896.8 million by 2025, registering a CAGR of 41.3%
from 2018 to 2025.
A smart exoskeleton is a
powered system comprising sensors and actuators that use feedback from the
wearer to provide enhanced assistance to specific body parts or the entire body
while lowering energy expenditure. Smart exoskeletons are extensively deployed
for clinical purposes to provide effective exercise and therapy for patients.
Smart exoskeletons find their major application in industries where workers are
required to perform physically demanding tasks. In addition, these systems are
being developed to aid in military body parts by improving physical
capabilities of soldiers.
North America dominated the market, followed by Europe. Increase in health
needs across North America and rise in number of demand from paraplegics have
significantly contributed toward the growth of the smart exoskeleton market in
this region. In 2017, the U.S. dominated the North America market, and the UK
is expected to lead the overall market in Europe during the forecast period.
Asia-Pacific region is expected to grow at the highest CAGR during the
forecast period. Asia-Pacific countries are witnessing surge in demand for
exoskeletons for medical purposes. Countries such as China, Japan, and Singapore
are involved in developing exoskeleton-related technologies. China dominated
the market in 2017. Moreover, smart exoskeleton vendors are focusing on
expanding their business in India and other countries. A new exoskeleton suit
was developed that allows a Singapore Civil Defense Force (SCDF) firefighter to
carry a heavy weight of about 50 kg without any hassle.
The Healthcare sub segment secures the highest share in the application
segment in 2017. In the healthcare sector, the use of smart exoskeletons is
primarily for helping paralytic individuals to move. Moreover, it is relatively
a stable way of walking as compared to the use of crutches or walkers. In
addition, another application improving the quality of patients is the
assistive technology to enable system-assisted walking or restoration of other
motor controls lost due to illness or accidental injury. Among component,
Actuators holds the highest market share during the forecast period 2018-2025.
Increased demand in gait rehabilitation and surge in demand for elderly
safety body parts are the factors expected to drive the growth of the smart
exoskeleton market during the forecast period. However, affordability issues
are anticipated to restrain the market growth. Conversely, increase in
initiatives for adoption of smart exoskeletons in military body parts across
the globe is expected to create lucrative opportunities for the key players
operating in the smart exoskeleton market.
Key Findings of the Smart
Exoskeleton Market:
Based on component, the actuators segment led the global smart exoskeleton
market in 2017.
North America is expected to account for the highest revenue in the global
market throughout the forecast period.
By application, the healthcare segment dominated the market in 2017.
Asia-Pacific is anticipated to exhibit the highest CAGR during the
forecast period.
The key players operating in
the smart exoskeleton industry are ATOUN Inc., BIONIK, CYBERDYNE, INC., Ekso
Bionics, Honda Motor Co., Ltd., ReWalk Robotics, Rex Bionics Ltd., Sarcos
Corp., Technaid. S.L., and U.S. Bionics, Inc. Players are adopting various
strategies to strengthen their product portfolio and business reach. For
instance, In August 2018, ATOUN Inc. launched Powered Wear ATOUN MODEL Y, a
wearable robot, which is designed to reduce work-induced burdens from the backs
of workers and improve work efficiency. In December 2017, Ekso Bionics entered
into a partnership with HASOMED to launch EksoGT exoskeletons functional
electrical stimulation (FES) interface capability. The combination of EksoGT
with the RehaStim2 FES technology provides clinicians latest advancements in
care, which ultimately improves clinical outcomes and patient quality of life.
For
More Information On The Research Report, Refer To Below Link:-
Contact Us:-
Ken Research
Ankur Gupta,
Head Marketing & Communications
+91-9015378249
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