Industry Overview
The Global Exoskeleton Market is expected to reach USD 5.2 billion in 2030 from USD 0.8 in 2023 billion with a compound annual growth rate CAGR of 39.8% throughout the forecast period (2025-2030).
An exoskeleton is a hard covering that supports and protects a skeleton that is on the exterior of an animal to both support the body shape and protect the internal organs. Global geriatric population and rising adoption rates of medical devices in different industries such as automobile, defense and construction along with incidence of stroke are some of the key driving forces responsible for the market growth. Furthermore, the growing incidence rate of spinal cord injuries (SCI) is expected to drive the demand across global markets.
Market Segmentation
Insight by Mobility
Based on the mobility, the Exoskeleton Market is segregated into stationary and mobile. The mobile segment led the market with the largest revenue share over the forecast period. Factors such as rise in research and development activities and a surge in demand for motor-equipped robots aiding human body mechanics are attributed to market growth.
Insight by Technology
On the basis of the technology, the Exoskeleton market is segmented into powered and passive. Among these, powered segment led the market due to the rising implementation of powered exoskeleton solutions in several industries to enhance personal safety and boost productivity.
Insight by Extremity
Based on the extremity, the Exoskeleton Market is divided into upper, lower and full body extremity. Lower body division dominated the market with a largest revenue shareas there is rise in investments and adoption rates of exoskeleton products by most of the paralyzed patients and geriatric population.
Insight by End use
Based on the end use, the Exoskeleton Market is classified into defence, healthcare, industrial and others. The healthcare segment dominated the market dominated the market owing to the rising incidence rate of spinal cord injuries (SCIs), widespread adoption of these products & solutions in rehabilitation centers, and significant surge in treatment numbers. Also the increasing number of regulatory approvals and rising awareness of technologically advanced systems are driving the demand & adoption of exoskeleton products in the healthcare industry.
Global Exoskeleton Market Report Coverage
|
Report Metric
|
Details
|
|
Historical Period
|
2018 - 2023
|
|
Base Year Considered
|
2024
|
|
Forecast Period
|
2025 - 2030
|
|
Market Size in 2023
|
U.S.D. 0.8 Billion
|
|
Revenue Forecast in 2030
|
U.S.D. 5.2 Billion
|
|
Growth Rate
|
39.8%
|
|
Segments Covered in the Report
|
By Mobility, By Technology, By Extremity, By Enduse
|
|
Report Scope
|
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
|
|
Regions Covered in the Report
|
North America, Asia-Pacific, Europe and Rest of the World
|
Industry Dynamics
Growth Drivers
To support employee health and boost productivity, exoskeleton solutions are widely adopted across various industries. The industry growth is attributed to the rising adoption of AI and IoT-powered exosuits for rehabilitation purposes in the medical sector. Growing demand has led to appearance of several startups in exoskeleton technology and providing solutions for rehabilitation. Furthermore, constantly evolving exoskeleton industry is driving market players to build up innovative strategies to boost adoption over the forecast period. The most common musculoskeletal injuries affecting the construction industry are cumulative trauma disorders (CTD), occupational overuse syndrome (OOS) and repetitive strain injury (RSI). These are some of the driving factors boosting adoption of exoskeleton solutions owing to benefits associated with exoskeleton technology to reduce fatigue experienced by industrial workers.
Restraints
The main constraint of the Exoskeleton Market is the high equipment cost during the forecast period. Powered exoskeletons are relatively more expensive than passive ones.
Geographic Overview
- North America
- Europe
- Asia Pacific (APAC)
- Rest of the World
North America dominated the market during the forecast period, owing to the rising expenditure on research activities, growing prevalence of disabled individuals, availability of technologically advanced products, increasing number of partnerships & collaborations and growing public & private support. Asia Pacific is also anticipated to register the fastest CAGR during the forecast period owing to growing patients who require rehabilitation support. Government support & funding, developing & advancing healthcare infrastructure are too driving the development & market growth in Asia Pacific.
Key Players Covered in the Report
Some of the key players of the global Exoskeleton Market are Lockheed Martin Corporation, Lifeward Inc., Parker Hannifin Corporation, Ekso Bionics, Hocoma, Hyundai Motor Company, ReWalk Robotics, Rex Bionics Plc., Wandercraft SAS, Cyberdyne, Inc., ActiveLink (Panasonic Corporation)
Recent Development by Key Players
Wandercraft SAS has started its commercial operations of its exoskeleton, Atalante X, in the U.S., to offer another solution to various people living with mobility impairments. The company has collaborated with the Kessler Foundation whose research team shall investigate the possible benefits of the Atalante X for neurologically impaired patients, including those recovering from spinal cord injuries, stroke, and motor neuron disease.
ReWalk Robotics, which makes exoskeletons to help paraplegics walk again, has expanded into the Canadian market. The ReWalk wearable robotic device provides powered hip and knee motion for people with a spinal cord injury (SCI), allowing them to stand walk, turn, upright and climb up and down stairs.
The global Exoskeleton Market report offers a comprehensive market segmentation analysis along with estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Mobility
- By Technology
- By Extremity
- By Enduse
- Defense
- Healthcare
- Industrial
- Others
Region Covered in the Report
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- Rest of the World
- Brazil
- Saudi Arabia
- South Africa
- U.A.E
- Other Countries
.png "Exoskeleton Market Size")
Source: VynZ Research
.png "Exoskeleton Market Analysis")
Source: VynZ Research
