In contrast to the internal skeleton, exoskeletons are the external skeletons that support and protect the body (endoskeleton). These are also wearable machines that allow for increased strength in limb movement and improve human task performance. The exoskeleton aids people in walking, standing, and lifting heavy objects, as well as contributing to healthcare. Exoskeleton technology aids in the reduction of the affects of several disabilities, such as paralysis, general weariness, and muscular dystrophy.Exoskeleton Market size accounted for USD 1.1 billion in 2024 and expected to expand to USD 9.3 billion in 2034 at a compound annual growth rate (CAGR) of 23.70%.

The report "Exoskeleton Market, By Component (Hardware and Software), Type (Powered and Passive), Mobility (Stationary and Mobile), Body Part (Lower, Upper, and Full Body), Vertical (Healthcare, Defense, and Industrial), and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2034’’                                                         

Key Highlights:

• At the Hannover Messe Digital Edition 2021 event in April 2021, Ottobock unveiled the Paexo Shoulder Jacket, Paexo Cool Sleeve, and Paexo Thumb Slim. During demanding occupations such as overhead labour or lifting packages, these gadgets give significant respite for the body.
• HAL Single Joint Type got medical device certification from the Thai Food and Medical Products Approval Authority (Thai FDA) in March 2021. Patients with limited mobility in their upper and lower limbs due to muscle weakness or paralysis should use this product.

Analyst View:

Exoskeleton adoption is on the rise because to the rising incidence of stroke and the expanding adoption and use of exoskeletons in a variety of industries, including construction, military, and car. Furthermore, the rising occurrence of spinal cord injury is expected to boost market growth throughout the forecast period. For instance, According to the National Spinal Cord Injury Statistical Center's data from 2021, the United States saw roughly 17,700 new cases of spinal cord injuries in 2018. In 2019 and 2020, the overall number of SCI cases increased to 17,730 and 17,810, respectively. It further reported that about 296,000 people with SCIs live in the United States.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Exoskeleton Market, By Component (Hardware and Software), Type (Powered and Passive), Mobility (Stationary and Mobile), Body Part (Lower, Upper, and Full Body), Vertical (Healthcare, Defense, and Industrial), and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2034”

Key Market Insights from the report:

Exoskeleton Market size accounted for USD 1.1 billion in 2024 and expected to expand to USD 9.3 billion in 2034 at a compound annual growth rate (CAGR) of 23.70%.The exoskeleton market has been segmented on the basis of component, type, mobility, body part, vertical, and region.

• Based on Component,  Exoskeleton Market is segmented into Hardware and Software.
• Based on Type,  Exoskeleton Market is segmented into Powered and Passive.
• Based on Mobility, Exoskeleton Market is segmented into Stationary and Mobile.
• Based on Body Part, Exoskeleton Market is segmented into Lower, Upper, and Full Body.
• Based on Vertical, Exoskeleton Market is segmented into Healthcare, Defense, and Industrial.
• By Region, the Exoskeleton Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Exoskeleton Market:

Key players operating in the exoskeleton market includes Bionik Laboratories, B-Temia, Cyberdyne, Ekso Bionics, Focal Meditech, DIH Technologies, Lockheed Martin, Ottobock, Rewalk Robotics, and Meditouch,HeroWear LLC.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

• Explains an overview of the product portfolio, including product development, planning, and positioning
• Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
• Detailed analysis of the market revenue over the forecasted period.
• Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
• Study on the segments that are anticipated to dominate the market.
• Study on the regional analysis that is expected to register the highest growth over the forecast period

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