Exoskeletons Market – 2026: Industry Growth and Regional Analysis

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Exoskeletons Market is set to exceed USD 3.5
billion by 2026 at CAGR 41.5
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Key Insights from Exoskeletons Market

• Increasing incident rates of stroke, spinal cord
  injury (SCI), or other diseases coupled with the
  growing number of accidents will drive the
  overall patient number suffering from mobility
  disorders. Over 15 million people are paralyzed
  and unable to walk, that in turn will provide
  strong growth opportunities for the exoskeletons
  market size. Research and development projects to
  reduce the overall costs and enhance its
  applications in military, industrial and
  recreational sectors will further support the
  industry expansion through 2026.
• Exoskeletons are classified under class II by
  Food and Drug Administration (FDA) that requires
  close application monitoring by regulatory
  authorities. Extensive clinical trials and
  approvals are required to demonstrate their
  safety in medical and personal mobility. Lengthy
  ethical approval procedures, complex patients
  requirement, and clinical uptake are required
  prior to product commercialization. These factors
  will inadvertently boost the consumer confidence
  in the products and thereby augment the
  exoskeletons market size over the forecast
  timeframe.

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Continued
Industrial manufacturing and process participants
are focusing on deploying assistive systems that
can reduce work related injuries, medical
expenses, improve work efficiency and lower work
fatigue. Industrial exosuits are specifically
designed to leverage the utilization of systems
in robust applications, will inadvertently fuel
the exoskeletons market growth. For instance, in
August 2018, Esko Bionics and Ford developed
EksoVest that was deployed in Ford assembly line.
It supports a workers arms for tasks that
involve working from chest height to overhead.
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U.S. Exoskeleton Market, By Technology, 2018
2026 (USD Million)

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Major Companies in Exoskeleton Market

• Lockheed Martin Corporation
• Parker Hannifin
• ReWalk Robotics
• REX Bionics
• Ekso Bionics
• Cyberdyne
• ATOUN Inc.
• Hocoma
• Revision Military
• Wandercraft
• Honda Motor Co. Ltd

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Industry Coverage

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Regional Insights in Exoskeleton Market

• Asia Pacific exoskeletons market will witness
  highest CAGR over the forecast period due to the
  high number of research and development
  initiatives by Japan, South Korea, and China in
  medical and military sectors. For instance, in
  2018, Norinco, a state-owned manufacturer in
  China, introduced military exosuits to boost
  weight carrying capacity of armed forces.
  Additionally, China Shipbuilding Industry have
  deployed exoskeletons for shipyard workers, and
  military engineers have developed L-70 for their
  armed forces applications.

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