The global exoskeleton robots market is forecasted to skyrocket at an impressive CAGR of 23.7%, rising from its current market valuation of US$ 950 million to US$ 8 billion by the end of 2032. An exoskeleton robot, also known as a powered suit, powered armor, cybernetic armor, or cybernetic suit, is a type of wearable electromechanical equipment designed to coordinate with the user’s intentional motions.
Exoskeleton robots are outfitted with an electric motor, levers, pneumatics, hydraulics, and a variety of other technologies that equally distribute the energy put on muscles and joints, decreasing stress and strain on the limbs. This contributes to the wearer’s overall physical performance. COVID-19-induced lockdowns had a significant impact on the sales of exoskeleton robots. Lockdown measures in several places drastically slowed robotic providers for a short amount of time. On the flip side, the pandemic offered opportunities for product and service providers to enhance their market presence by concentrating on and tackling real clinical difficulties in partnership with physicians.
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Market Players: –
- ATOUN Inc
- Gogoa Mobility Robots
- Bioness Inc
- Bionik Laboratories Corp
- Hocoma AG
- Lockheed Martin Corporation
- Bioservo Technologies AB
- B-Temia Inc
- Rehab-Robotics Company Limited
- Cyberdyne Inc
- Ekso Bionics Holdings Inc
- ReWalk Robotics Ltd
- Parker-Hannifin Corporation
- Rex Bionics Ltd
- suitX (US Bionics)
What Do You Get in a Fact.MR Study?
- Factors affecting the overall development of the global Exoskeleton Robots Market
- Factor that might restrain the growth of the global market in the coming years of the forecast period.
- What is present competitive scenario of the global Exoskeleton Robots Market and its intricate details concerning potential business prospects of leading market players
- Pricing strategies of several different market players in the global Exoskeleton Robots Market
The global exoskeleton robots market is extremely competitive. Furthermore, many startups are entering the market, thus, intensifying the competition. Key players in the exoskeleton robots market are increasingly concentrating on introducing newer innovative solutions and extending their geographical reach through a variety of techniques such as product approvals, product launches, partnerships, and collaborations.
- Ottobock debuted the Paexo Cool Sleeve, Paexo Thumb Slim, and Paexo Shoulder Jacket at the Hannover Messe Digital Edition 2021 event in April 2021. These devices offer great relaxation to the body during demanding activities like package lifting or overhead work.
- The Thai Food and Medical Products Approval Authority (Thai FDA) approved CYBERDYNE’s HAL Single Joint Type medical device in March 2021. The product is intended for people with limited mobility in their lower and upper limbs due to paralysis or muscle weakness.
- Cyberdyne Inc collaborated with J-Workout Inc. (Koto-Ku, Tokyo, Japan, President: Takunori Isa, “J-Workout”) in March 2021 to deliver the new services. The Group offers Neuro HALFIT as a service to support the functional improvement of people with limited motor functions by engaging the brain’s nervous system’s activity loop with Wearable Cyborg HAL.
- DIH partnered with Reha Technology in March 2021. DIH agreed to take over the distribution of Reha Technology’s robotics products as well as promote and distribute Reha Technology’s end-effector-based gait rehabilitation devices in important markets like the United States, Switzerland, and Germany under this arrangement.
- Ekso Bionics collaborated with US Physiatry (USP) in March 2021 to educate physicians on the clinical advantages of an EksoNR exoskeleton. USP is the country’s biggest in-patient physician practice, specializing solely in physical medicine and rehabilitation.
Key Segments of Exoskeleton Robots Industry Research
- By Product:
- Full Body
- Lower Extremities
- Upper Extremities
- By Mobility:
- By Technology:
- By End User:
- Military and Defense
- By Region:
- North America
- Latin America