Medical Exoskeleton: 2018-2023 Opportunity Outlook on the Global Market - CAGR is Projected to Grow at 37.4%
DUBLIN, Aug. 3, 2018 /PRNewswire/ --
The "Medical Exoskeleton Market by Component (Hardware (Sensor, Actuator, Control System, Power Source), Software), Type (Powered, Passive), Extremities (Lower, Upper) & Mobility (Mobile, Stationary) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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The global medical exoskeleton market is projected to reach USD 571.6 million by 2023 from USD 116.7 million in 2018, at a CAGR of 37.4% during the forecast period.
Factors such as the increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches and increasing insurance coverage for medical exoskeletons in several countries are driving the growth of the medical exoskeleton market. However, the high cost of medical exoskeletons may restrain the growth of the market to a certain extent.
The report segments the market into component, type, mobility, extremity, and region.
By extremity, the market is segmented into lower extremity medical exoskeletons and upper extremity medical exoskeletons. The upper extremity segment is projected to grow at the highest CAGR during the forecast period. These exoskeletons are generally used in the rehabilitation of upper limb amputees and stroke and cerebral palsy patients.
The medical exoskeleton market is segmented on the basis of component, into hardware and software. The hardware segment is estimated to account for the largest market share in 2018. The large share of this segment can be attributed to the fact that a large number of parts such as sensors, actuators, power sources, and control systems are required to manufacture exoskeletons. Manufacturers are also adding upgraded and advanced hardware into the overall design to enhance the capability of medical exoskeletons, making them smarter and more interactive.
The medical exoskeleton market is segmented by type into powered and passive exoskeletons. In 2018, the powered exoskeleton segment is expected to dominate the market. This segment is also expected to grow at the highest CAGR during the forecast period. The presence of sensors and various controlling functions in powered exoskeletons to sense motion, tilt, and speed is the major factor driving the growth of powered medical exoskeletons.
The market is dominated by North America, followed by Europe. Factors such the growing geriatric population, increasing demand for self-assist exoskeletons, high prevalence of stroke, and the growing number of spinal cord injuries (SCI) are driving market growth in this region.
Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd (Israel), Parker Hannifin Corp (US), Bionik Laboratories Corp (Canada), CYBERDYNE Inc. (Japan), Rex Bionics Ltd. (UK), B-TEMIA Inc. (Canada), Hocoma AG (A Subsidiary of DIH Technologies) (Switzerland), Wearable Robotics SRL (Italy), Gogoa Mobility Robots SL (Spain), and ExoAtlet, O.O.O. (Russia)) are the key players operating in this market.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Medical Exoskeleton: Market Overview
4.2 Medical Exoskeleton Market, By Component, 2018 vs 2023 (USD Million)
4.3 Europe: Medical Exoskeleton Market, By Hardware Type & Country
4.4 Medical Exoskeleton Market, By Extremity
4.5 Medical Exoskeleton Market: Geographic Snapshot
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Number of People With Physical Disabilities and Subsequent Growth in the Demand for Effective Rehabilitation Approaches
5.2.1.2 Agreements and Collaborations Among Companies and Research Organizations for the Development of the Exoskeleton Technology
5.2.1.3 Increasing Insurance Coverage for Medical Exoskeletons in Several Countries
5.2.2 Opportunities
5.2.2.1 Introduction of Soft Actuators
5.2.3 Challenges
5.2.3.1 High Cost of Medical Exoskeletons
6 Medical Exoskeleton Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Sensors
6.2.2 Actuators
6.2.3 Power Sources
6.2.4 Control Systems
6.2.5 Other Hardware Components
6.3 Software
7 Medical Exoskeleton Market, By Type
7.1 Introduction
7.2 Powered Exoskeleton
7.3 Passive Exoskeleton
8 Medical Exoskeleton Market, By Mobility
8.1 Introduction
8.2 Stationary Medical Exoskeletons
8.3 Mobile Medical Exoskeletons
9 Medical Exoskeleton Market, By Extremity
9.1 Introduction
9.2 Lower Extremity Medical Exoskeletons
9.3 Upper Extremity Medical Exoskeletons
10 Medical Exoskeleton Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Rest of Europe (RoE)
10.4 Asia
10.5 Rest of the World
11 Competitive Landscape
11.1 Overview
11.2 Market Share Ranking
11.3 Competitive Situations and Trends
11.3.1 Product Launches, Enhancements, and Approvals
11.3.2 Agreements, Collaborations, Alliances, Joint Ventures, Contracts, and Partnerships
11.3.3 Mergers and Acquisitions
11.3.4 Expansions
12 Company Profiles
12.1 Cyberdyne
12.2 Ekso Bionics Holdings
12.3 Rewalk Robotics
12.4 Bionik Laboratories
12.5 Rex Bionics
12.6 Parker Hannifin
12.7 B-Temia
12.8 Bioness
12.9 Hocoma AG (A Subsidiary of DIH Technologies)
12.10 Wearable Robotics
12.11 Gogoa Mobility Robots
12.12 Exoatlet
For more information about this report visit https://www.researchandmarkets.com/research/svtdwd/medical?w=5
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