Medical Exoskeleton Market Top Player Analysis – Bioness Inc., B-Temia Inc., BIONIK Laboratories Corp, CYBERDYNE INC

The global medical exoskeleton market accounted to US$ 96.7 Mn in 2018 and is expected to grow at a CAGR of 29.4% during the forecast period 2019 – 2027, to account to US$ 1,023.0 Mn by 2027.

Asia Pacific is the fastest growing geographic market and it is expected to be the fastest revenue contributor throughout the forecast period. Asia Pacific is recognized as a developing market for the medical devices. The market growth is expected due to the rising developments by the Chinese, Japanese, South Korean and Indian companies in the market of medical exoskeleton. In addition, the market for medical exoskeleton in Australia is expected to grow due to the development in the healthcare system.

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The List of Companies

  1. Bioness Inc.
  2. B-Temia Inc.
  3. BIONIK Laboratories Corp
  5. Ekso Bionics Holdings, Inc
  7. GOGOA Mobility Robots
  8. Hocoma AG
  9. Wearable Robotics srl
  10. Parker Hannifin Corporation
  11. ReWalk Robotics
  12. US Bionics, Inc.
  13. Tyromotion GmbH

Medical Exoskeleton – MARKET SEGMENTATION 

By Drive Type

  • Pneumatic Actuator
  • Hydraulic Actuator
  • Electric Actuator
  • Mechanical
  • Shape Memory Alloy Actuator
  • Other Actuator

By Type

  • Powered Exoskeleton
  • Passive Exoskeleton

By Extremity

  • Lower Body Exoskeleton
  • Upper Body Exoskeleton

By Application

  • Spinal Cord Injury
  • Multiple Sclerosis
  • Cerebral Palsy
  • Stroke
  • Others

With increasing costs of manufacturing against their practices, the medical device manufacturers are struggling to generate enough revenue to please their investors. The emerging markets are expected to be the crucial factor for offering better and lucrative growth opportunities for the market players to expand their business and geographic reach. The treatment for the musculoskeletal diseases and orthopedic conditions become more straightforward due to the help of the advancement in the technologies. As compared to consuming heavy dose medicines and hectic therapies, braces and supports have reduced the number of the consumption of the medication and the treatments. The exoskeleton devices have helped so many patients to manage and reduce their pains and helped to move along with the other healthy people. Also, the healthcare expenditure has created lots of opportunities for the developing nations to provide better and more services and facilities to their people. Regions such as Asia, the Middle East, and Africa are investing more in the healthcare sectors.

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Besides, the population in these regions and health regarding awareness is aggressively increasing. Therefore, the incidences of the orthopedic conditions are growing. The regions are also witnessing a rise in the start-up companies investing more on the healthcare sectors. Therefore, owing to the factors mentioned above, the market for medical exoskeleton is likely to show a high potential in emerging nations.

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