Global Exoskeleton Market Report and Forecast 2024-2032

Global Exoskeleton Market Outlook

The global exoskeleton market is expected to grow at a CAGR of 17.2% during the period 2024-2032. Important applications in medical rehabilitation and multiple other sectors are expected to drive market growth. North America, Europe and Asia are likely to be key markets.

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Global Market Likely to be Driven by Applications in Multiple Sectors, Including Medical, Construction, and Military, and Advanced Solutions by Leading Companies

Exoskeleton robotics has steered in a new age of modern neuromuscular rehabilitation engineering and assistive technology research. The technology has shown significant promise to enhance upper-limb functionalities needed to carry out daily activities. Upper limb exoskeletons refer to electromechanical systems devised to interact with the user to amplify power, assist or substitute motor function. Generally, these devices are anthropomorphic in nature, and interact mechanically with the human upper-limb musculoskeletal structure. Applications include power amplification in industrial settings, compensation of neuromuscular impairment, post-stroke rehabilitation, and supporting disabled people in daily activities.

Over the last twenty years, upper-limb exoskeletons employed for services and rehabilitation have garnered much attention from biomedical and engineering sectors; the technology has gained continual prominence as a possible solution for physically weak or disabled individuals. Solutions have been developed to enhance strength and performance of the wearer. Leading companies are engaged in developing solutions to amplify human ability, protect workers, boost productivity, treat patients and rehabilitate mobility deficits. For example, Ekso Bionics is helping people live, work, and recover with bionic technology.  The company developed EksoNR, a lower-body clinical bionic rehabilitation device - the first exoskeleton to receive FDA clearance cleared for stroke and spinal cord injury (SCI); it was also the only exoskeleton cleared by FDA for acquired brain injury. Such solutions are expected to drive the global exoskeleton market. The EksoNR neurorehabilitation suit was devised to help patients with a neurological diagnosis regain natural leg movement after suffering lower limb disabilities.

Building upon its clinical expertise, the company developed a solution for upper-body rehabilitation - EksoUE. The exoskeleton helped patients in rebuilding their upper extremity strength and maintaining upright posture while providing upper extremity support. The solution enabled 180 degrees of motion at the shoulder, and could be used by the patient while sitting, standing, and walking. Patients with SCI, strokes, brain injuries, and neurological disorders could greatly benefit from assistive technology in a rehabilitation setting.

Numerous Applications of Exoskeletons Likely to Drive Market Growth

Exoskeletons have several applications that are expected to boost the global exoskeleton market, these include solar installation, utilities and telecommunications, logistics and fulfilment, surgery, arborists, automotive mechanics, drywall installation, film equipment operation, food processing, manufacturing, shipbuilding, ceramics, natural gas and oil, HVAC installation and repair, hair dressing, plastering, firefighting, etc.

Applications in Construction and Military to Stimulate Market

Exoskeletons also have important military applications. For example, the U.S. Navy and DARPA have use bionic robotics products (such as HULC) to enable soldiers carry heavier cargos over long distances.

To enhance Indian soldiers’ performance in military scenarios, several DRDO labs are involved in developing configurations including lower/upper extremity, and full-body exoskeletons.

The construction sector has witnessed increased use of smaller, more specialized exoskeleton projects targeting a particular body part. Full body suits are also in use. For example, Mounted Arm Exosuit (such as EksoZeoG, from Ekso Bionics) is not worn on the body, rather, workers control the arm by placing their hand at its end. The solution helps workers use heavy hand-tools quickly and complete tasks faster, with less fatigue, and better workmanship.

Overhead Exosuits include exoskeletons that offer arm, neck, and shoulder support to help workers carry out overhead installation work such as fitting ductwork or sprinklers. The solutions decrease load on the arm and neck muscles while cutting down on repetitive-stress injuries.

Arm Support Limbs are simple arms that help workers lift heavier tools while fuller exoskeletons offer shoulder or arm support. For example, Fraco Exoskeleton by Mawashi is a hybrid system that combines passive and quasi-passive actuation to aid and assist masons in lifting and placing masonry blocks as well as manipulating masonry tools.

Market Segmentation

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By type, the global exoskeleton market is segmented into:

• Augmentation
• Rehabilitation

By product type, the market is classified into:

• Stationary
• Mobile

By body part type, the market is classified into:

• Lower Body
• Upper Body

By region, the market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Key Industry Players in the Market

The report presents a detailed analysis of the following key players in the global exoskeleton market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Ekso Bionics Holdings, Inc.
• ReWalk Robotics Ltd.
• BIONIK Laboratories Corp.
• Ottobock SE & Co. KGaA
• Lockheed Martin Corporation
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report