Exoskeleton Market Size to Reach USD 5.73 Billion by 2026; Industry Compound Annual Growth Rate of 43.4% Says Reports and Data
Exoskeleton Market To Reach USD 4.00 Billion By 2026
New York, NY -- (SBWire) -- 02/22/2021 --The Global Exoskeleton Market size is estimated to register a CAGR of nearly 43.4%, accounting for revenue generation of USD 5.73 Billion by 2027 from USD 0.31 Billion in 2019. The market demand is driven mainly by healthcare and military applications. The exoskeleton is an externally worn robotic support system that aids people with disabilities like spinal cord injury, neurological conditions like stroke or paralysis, to walk or move. A decade ago, exoskeletons were used only to improve or restore a person's ability to move. However, the product is finding broader applications in industries such as warehousing and construction. They are no more those high-precision braces. Rapid advancement in materials science, artificial intelligence, and robotics has revolutionized the exoskeleton industry landscape.
Lockheed Martin Corporation, ReWalk Robotics, Parker Hannifin, REX Bionics, Ekso Bionics, ATOUN Inc., Cyberdyne, Hocoma, Wandercraft, Revision Military, and Honda Motor Co. Ltd.
The growing prevalence of spinal cord injury will also provide impetus to exoskeleton industry growth. As per the NSCISC (National Spinal Cord Injury Statistical Center), approximately 12,500 new cases of spinal cord injury were reported in 2015, in the United States alone, and the number reached 17,730 in 2019. The rise in the number of accidents leading to spinal cord injuries will boost the exoskeleton market revenue share. Moreover, the increasing focus of the manufacturers in incorporating smart technologies in exoskeletons to aid patients will drive product demand.
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For the purpose of this study, Reports and Data has segmented the Global Exoskeleton Market on the basis of mobility type, end-user, type, technology, anatomy, and region:
Mobility Type Outlook (Revenue, USD Million; 2017-2027)
End-User Outlook (Revenue, USD Million; 2017-2027)
Military & Defense
Type Outlook (Revenue, USD Million; 2017-2027)
Technology Outlook (Revenue, USD Million; 2017-2027)
Shape Memory Alloy Actuator
The report shed light on the key manufacturers and players and their business development plans based on each region. The report also offers country-wise analysis of the market and details about the production and consumption patterns. Furthermore, it gives insights into export/import data, supply and demand dynamics, emerging trends, lucrative opportunities, and the presence of key players in each region. Based on the regional analysis, the market is segmented into key geographical regions such as North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. The chapter further covers the country-wise analysis of the Exoskeleton market to offer a better understanding of the regional expansion.
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers insightful data to help the companies make business decisions and strategic investment plans. The report covers a comprehensive overview of the competitive landscape and provides a detailed analysis of the strategic business decisions such as mergers and acquisitions, joint ventures, collaborations, and product launches among others. The report also offers SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the competitive landscape.
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Exoskeleton Market Segmentation & Impact Analysis
4.1. Exoskeleton Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
188.8.131.52. Technology advancement
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