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

Introduction:

 An exoskeleton is a hard and rigid outer covering made of chitin that protects the animal's body. The exoskeleton also acts as a water-impermeable barrier, protecting insects from odors the main part of the barrier is located in the wax-covered epicuticle. An important function for the exoskeleton is to act as a barrier preventing microorganisms from entering the animal's interior. AI-based exoskeletons are used in a variety of applications, including rehabilitation centers, manufacturing facilities, construction sites, and the military. This enables users to reduce fatigue and stress from repetitive tasks, as well as reduce the risk of injury from lifting, carrying or moving heavy loads. As the world's visually impaired population continues to grow, the need for robotic rehabilitation devices increases. Musculoskeletal injuries and disorders such as repetitive strain injury (RSI), cumulative trauma disorder (CTD), and occupational overuse syndrome (OOS) are expected to drive market revenue growth. 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%.

Rising adoption by the healthcare sector for robotic therapy is a key factor driving the growth of the exoskeleton market in the future. Additionally, advancements in robotic technology which is another factor supporting the growth of the target market. However, stringent government regulations related to medical applications are expected to hamper the growth of the exoskeleton market during the upcoming year. Increasing population and health disorders such as paralysis, muscular dystrophy and general fatigue create the highest demand for exoskeleton systems. During the forecast period, customization in the exoskeleton product line is expected to drive market revenue growth. However, poor purchasing power, limited access to technologically advanced goods, and low per capita income have hindered the adoption of exoskeletons in developing economies, thereby restraining the overall revenue growth of the market.

Technological advancement

The market for exoskeleton is growing due to factors such as increasing demand in the healthcare sector for robotic rehabilitation, advancements in robotic technology, and huge investment in the development of exoskeleton technology. Increasing advancements in active and semi-passive technologies are the primary factors influencing exhaust demand. Many companies are focusing on developing innovative solutions for exoskeletons. Greater Awareness of technologically advanced systems, as well as increasing number of FDA approvals for medical exoskeletons, is expected to drive demand for exoskeletons in the healthcare industry. Exoskeletons for military applications are improving in performance through the introduction of new technologies, which is expected to drive revenue growth in the segment. Additionally, researchers are working to develop smart exoskeleton technology for use with the upper body.

Recent Development:

• In March 2023, HeroWear LLC., launched its new product “Apex 2” which is next generation of exosuits for reducing back injuries. Newly launched Apex 2 is designed to provide relief to back muscles for manufacturing, warehouse, construction, and farming workers who regularly lift objects up from ground level.

 

The Exoskeleton Market is segmented based on component, type, mobility, body part, vertical and region.

On the basis of component, the  Exoskeleton Market is segmented into Hardware and Software. On the basis of type, the Exoskeleton Market is segmented into Powered and Passive. On the basis of body part, the  Exoskeleton Market is segmented into Lower, Upper, and Full Body. On the basis of vertical, the Exoskeleton Market is segmented into Healthcare, Defense, and Industrial. The demand for supported exoskeleton is expected to increase dramatically during the forecast period. A powered exoskeleton robot can transfer weight, allowing for more effective movement with less strain or damage. This is especially important for armed forces traveling long distances across unforgiving terrains such as mountains and tall structures. Consequently, this category is expected to witness the highest year-on-year growth over the forecast period.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

On region the Exoskeleton Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, the adoption of exoskeleton in the Asia-Pacific region is low, but it has strong growth potential in the coming years. Rapid population growth and increasing economic development are supporting the growth of the exoskeleton market in this region.

Report Scope:

Attribute	Details
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Component - Hardware and Software By Type - Powered and Passive By Mobility - Stationary and Mobile By Body Part - Lower, Upper, and Full Body By Vertical - Healthcare, Defense, and Industrial
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Exoskeleton Market report based on component, type, mobility, body part, vertical, and region:

Exoskeleton Market, By Component:

• Hardware
• Software

Exoskeleton Market, By Type:

• Powered
• Passive

Exoskeleton Market, By Mobility:

• Stationary
• Mobile

Exoskeleton Market, By Body Part:

• Lower
• Upper
• Full Body

Exoskeleton Market, By Vertical:

• Healthcare
• Defense
• Industrial

Exoskeleton Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

      

The key players operating the Exoskeleton Market includes Bionik Laboratories, B-Temia, Cyberdyne, Ekso Bionics, Focal Meditech, DIH Technologies, German Bionic, Ottobock, Rewalk Robotics, and Meditouch,HeroWear LLC. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, In September 2022, Mubea to collaborate on production of carbon fiber exoskeletons. German Bionic like Mubea, a successful German company with high-tech products that are in high demand worldwide, automotive supplier Mubea (Attendorn, Germany) has signed a cooperation agreement to start manufacturing robotic exoskeleton for smart power suit developer German Bionic.

• Bionik Laboratories
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• B-Temia
• Cyberdyne
• Ekso Bionics
• Focal Meditech
• DIH Technologies
• German Bionic
• Ottobock
• Rewalk Robotics
• Meditouch

“*” marked represents similar segmentation in other categories in the respective section

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
   • PORTER’s
   • Investment Outlook
3. Market Purview
   • Executive Summary
   • Key Findings—Global Outlook for Exoskeleton Strategies
     • Key Questions this Study will Answer
     • • 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)
       • By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa)
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Overview
   • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2024 – 2034
   • Y-o-Y Growth Analysis (%), 2024 – 2034
   • Regional Trends
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
5. Regional Analysis
   • Regional Revenue Analysis
   • Regional By segment Analysis
   • Reasons for regional growth
   • Key Player of particular region
   • Countries Include in the report:

1. • • North America (U.S., Canada)
     • Europe (UK, France, Germany, Russia, Italy, Rest of Europe)
     • Asia Pacific (India, Japan, South Korea, China, Rest of Asia Pacific)
     • Latin America (Brazil, Mexico, Rest of Latin America)
     • Middle East & Africa (GCC, Israel, South Africa, Rest of Middle East)

1. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
   • Competitive Overview
   • Competitive Benchmarking
   • Market Share Analysis
   • Key Developments In The Exoskeleton Market
   • Key Developments: Mergers & Acquisitions
   • Key Developments: Collaboration
   • Key Developments: Contracts & Agreements
   • Key Developments: Expansion
   • Key Developments: Product Developments
2. Company Profiles

 

• Company Overview
• Product Portfolio
• Key Highlights
• Financial Performance
• Business Strategies
• SWOT Analysis

• Bionik Laboratories, B-Temia, Cyberdyne, Ekso Bionics, Focal Meditech, DIH Technologies, Lockheed Martin, Ottobock, Rewalk Robotics, and Meditouch,HeroWear LLC.

1. The Last Word
   • Future Impact
   • About Us
   • Contact