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Exoskeleton Robots - Global Market Trajectory & Analytics

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    Report

  • 272 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4804950

Global Exoskeleton Robots Market to Reach $2.1 Billion by 2026


Robotic exoskeletons are wearable ambulatory machines that rely on mechanical structures, rotors, levers and hydraulics to move stiff body parts and help users in performing routine tasks with high endurance and strength. These external skeletons use artificial intelligence and sensors to detect bio-neurotic signals from the brain and trigger the frame to move in line with specific instructions like sitting, standing or lifting an object. Growth in the global market is being driven by increasing applications across diverse industries, rising geriatric population, technological innovations and broader scope in the military and healthcare sectors. These suits are anticipated to find extensive adoption in healthcare applications and benefit from increasing number of rehabilitation centers. Against the backdrop of strict social distancing measures and travel restrictions to curb spread of the coronavirus, the combination of worker shortage and exponential growth of the e-commerce sector has created a strong demand for advanced tools across diverse industries to boost productivity while ensuring worker safety. The requirement has played an important role in driving the adoption of powered, full-body exoskeletons for production units, construction sites and other complex environments.

Amid the COVID-19 crisis, the global market for Exoskeleton Robots estimated at US$896.4 Million in the year 2022, is projected to reach a revised size of US$2.1 Billion by 2026, growing at a CAGR of 21.2% over the analysis period. Healthcare, one of the segments analyzed in the report, is projected to grow at a 20.8% CAGR to reach US$1.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Industrial segment is readjusted to a revised 23.1% CAGR for the next 7-year period. This segment currently accounts for a 30.4% share of the global Exoskeleton Robots market. Healthcare continues to be the primary end-use application segment of the robotic exoskeletons market as a result of increasing adoption of these suits by seniors and people with mobility disorders. Rising acceptance of exoskeletons in rehabilitation centers coupled with increasing incident of spinal cord injuries and associated treatments are bolstering the healthcare segment.

The U.S. Market is Estimated at $384.8 Million in 2022, While China is Forecast to Reach $255.8 Million by 2026


The Exoskeleton Robots market in the U.S. is estimated at US$384.8 Million in the year 2022. The country currently accounts for a 43.07% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$255.8 Million in the year 2026 trailing a CAGR of 25.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.9% and 19.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21% CAGR while Rest of European market (as defined in the study) will reach US$305.6 Million by the end of the analysis period. Growth in North America region is being driven by major contribution from the US, rising aging population and high purchasing power of people. The market demand is propelled by increasing cases of spinal cord injury and stroke along with associated disabilities. Increasing awareness about these options and regulatory approval for medical exoskeletons are poised to fuel demand, while increasing number of rehabilitation centers to serve people with spinal cord injuries, stroke, traumatic brain surgeries, cerebral palsy and multiple sclerosis are expected to bolster the market. Improvements in healthcare infrastructure, a massive patient pool and government funding for medical devices are the major factors fueling growth in the Asia-Pacific region.

By End-Use, Industrial Segment to Reach $714 Million by 2026


The Industrial segment is gaining from increasing cases of workplace injuries and rising awareness regarding various merits of using exoskeletons in industrial applications. The increasing demand for advanced products to empower workers in different sectors like manufacturing, construction and distribution is poised to benefit the industrial segment. In the global Industrial segment, USA, Canada, Japan, China and Europe will drive the 22% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$167.4 Million will reach a projected size of US$699.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$70.2 Million by the year 2026.

Select Competitors (Total 102 Featured):

  • ATOUN Inc.
  • Bioness Inc.
  • Bionik Laboratories Corp.
  • Bioservo Technologies AB
  • B-Temia Inc.
  • Cyberdyne Inc.
  • Ekso Bionics Holdings Inc.
  • Gogoa Mobility Robots
  • Hocoma AG
  • Lockheed Martin Corporation
  • Parker-Hannifin Corporation
  • RB3D
  • Rehab-Robotics Company Limited
  • ReWalk Robotics Ltd.
  • Rex Bionics Ltd.
  • suitX (US Bionics)

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Exoskeleton Robots - Global Key Competitors Percentage Market Share in 2022 (E)
  • Impact of COVID-19 and a Looming Global Recession
  • COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019E to 2022F
  • COVID-19 Provides Major Springboard to Full-Body, Powered Exoskeleton Deployment
  • Pandemic Compels Senior Care Facilities to Use Modern Technologies for Better Care
  • Disruptions in Military Training Inflicts Direct Blow on Exoskeleton Robotics Market
  • Infection Spread Disrupts Military Personnel Training & Troop Deployment: Cumulative Number of COVID-19 Cases Across the Defense Department in the U.S. in May, June, September & November 2020
  • Exoskeleton Robots: Wearable Machines to Augment Human Strength
  • Increasing Adoption of Active & Passive Exoskeletons
  • Rising Demand Amps Up Global Robotic Exoskeletons Market to Action-Packed Future
  • Mobile Exoskeletons Dominate and Buoy the Market
  • Active and Passive Exoskeletons: Primary Segments of Robotic Exoskeletons
  • Prominent Factors with Positive Cascading Effect on Robotic Exoskeletons Market
  • High Adoption in Medical & Military Applications
  • Technological Advances to Drive Growth
  • Select Innovations & Advancements
  • Analysis by End-Use: Healthcare Remains Primary Segment
  • World Exoskeleton Robots Market by End-Use (2020 & 2027): Percentage Breakdown of Revenues for Healthcare, Industrial, and Other End-Uses
  • Regional Analysis: North America Remains the Most Lucrative Market
  • World Exoskeleton Robots Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • Global Exoskeleton Robots Market: Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Rest of World, USA, Europe, Canada, and Japan
  • Competitive Scenario
  • Budding Market for Robotic Exoskeletons Marked by Fierce Competition
  • Recent Market Activity
  • Exoskeleton Robots Competitor Market Share Scenario Worldwide (in %): 2020(E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Healthcare Sector Steers Momentum in the Exoskeleton Robots Market
  • Rehabilitation Exoskeleton Robots Set to Make Big Gains
  • Exoskeleton Robots Helping Paraplegics to Walk Again
  • Recent Exoskeleton Advancements for Delivering Enhanced Mobility Therapy
  • Increasing Incidence of Neurological, Musculoskeletal and Chronic Medical Conditions to Steer Adoption
  • Global Osteoporosis Prevalence: Number of People with Osteoporosis in Millions by Select Country/Region for 2012 and 2022P
  • Percentage (%) of Women Affected by Osteoporosis
  • Importance of Physical Therapy for Stroke Survivors Bodes Well
  • Select Arm and Hand Robotic Devices
  • Select Leg and Foot Robotic Devices
  • Rising Incidence of Physical Disabilities Steers Importance of Rehabilitation Robots
  • Percentage of Population with Disabilities by Age Group
  • Growing Geriatric Population & Parallel Increase in Prevalence of Age-Related Conditions: Strong Business Case for Rehabilitation Exoskeleton Robots
  • Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • Rising Care Costs & Shortage of Home Care Workers for Disabled and Elderly Turn Focus onto Rehabilitation Robots
  • Annual Cost of Full-Time Home Health Aide (in $) in the US for 2004-2019
  • Long-term Care Workers in the US: Percentage Breakdown of Workforce by Type for 2020
  • Resolving Prevailing Issues & Challenges: Critical for Future Success of Rehabilitation Exoskeleton Robots
  • Exoskeleton Robots Poised to Transform Industrial Sector
  • Industrial Exoskeleton Robots Promise Increased Worker Productivity & Reduced Workplace Injuries
  • Current Trends in Industrial Automation & Industry 4.0 Favor Uptake
  • Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
  • As Defense Departments Lean towards Advanced Technologies, Opportunities Galore for Military Exoskeleton Robots
  • Global Defense Budget (In US$ Billion) for the Years 2019, 2021 and 2023
  • New Range of Military Exoskeletons Come to the Fore to Address Stringent Requirements of Infantry Squads
  • Emphasis on Soldier Protection & Strengthening Infantry Capabilities Widen the Business Case
  • Global Active Ready-to-Fight Military Manpower (In 000s) by Country
  • Exoskeleton Robots Augment Military Wearable Technology
  • AI Steps into Reinforce Military Exoskeleton Robots
  • US Marines to Test Real-Life Exoskeleton Robots
  • Construction Sector: A Niche Domain for Exoskeleton Robots
  • Smart Exoskeleton Market Poised to Witness Robust Growth
  • Smart Textiles to Play an Important Role in the Development of Smart Exoskeletons
  • Global Smart Textile Market (In US$ Billion) for Years
  • Ongoing Research Efforts to Open New Avenues
  • Lack of Standards Holding Back Exoskeleton Adoption
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Exoskeleton Robots by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • TABLE 2: World 7-Year Perspective for Exoskeleton Robots by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2021 & 2027
  • TABLE 3: World Recent Past, Current & Future Analysis for Healthcare by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • TABLE 4: World 7-Year Perspective for Healthcare by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • TABLE 5: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • TABLE 6: World 7-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • TABLE 7: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • TABLE 8: World 7-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Exoskeleton Robots Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Aging Demographics and Rise in People with Disabilities to Drive Adoption of Exoskeleton Robots in Healthcare Setup
  • US Population by Age Group (in %) for 2018, 2030 & 2050
  • Home Healthcare Trends Augurs Well for Market Expansion
  • TABLE 9: USA Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 10: USA 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
CANADA
  • TABLE 11: Canada Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 12: Canada 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
JAPAN
  • Exoskeleton Robots Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Market Overview
  • Aging Population in Japan: 65+ Individuals as % of Total Population for 2010-2019
  • TABLE 13: Japan Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 14: Japan 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
CHINA
  • Exoskeleton Robots Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • TABLE 15: China Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 16: China 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
EUROPE
  • Exoskeleton Robots Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • Aging Population: A Key Driver of Healthcare Exoskeleton Robotics Market Growth
  • Elderly Population in Europe: 65+ People as % of Total Population in Select European Countries for 2019
  • TABLE 17: Europe Recent Past, Current & Future Analysis for Exoskeleton Robots by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • TABLE 18: Europe 7-Year Perspective for Exoskeleton Robots by Geographic Region - Percentage Breakdown of Value Revenues for France, Germany, Italy, UK and Rest of Europe Markets for Years 2021 & 2027
  • TABLE 19: Europe Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 20: Europe 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
FRANCE
  • Exoskeleton Robots Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
  • TABLE 21: France Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 22: France 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
GERMANY
  • Exoskeleton Robots Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • TABLE 23: Germany Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 24: Germany 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
ITALY
  • TABLE 25: Italy Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 26: Italy 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
UNITED KINGDOM
  • Exoskeleton Robots Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • TABLE 27: UK Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 28: UK 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
REST OF EUROPE
  • TABLE 29: Rest of Europe Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 30: Rest of Europe 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
ASIA-PACIFIC
  • Exoskeleton Robots Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • India: Assistive Technologies for Disabled Individuals
  • TABLE 31: Asia-Pacific Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 32: Asia-Pacific 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
REST OF WORLD
  • TABLE 33: Rest of World Recent Past, Current & Future Analysis for Exoskeleton Robots by End-Use - Healthcare, Industrial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • TABLE 34: Rest of World 7-Year Perspective for Exoskeleton Robots by End-Use - Percentage Breakdown of Value Revenues for Healthcare, Industrial and Other End-Uses for the Years 2021 & 2027
IV. COMPETITION
  • Total Companies Profiled: 102

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ATOUN Inc.
  • Bioness Inc.
  • Bionik Laboratories Corp.
  • Bioservo Technologies AB
  • B-Temia Inc.
  • Cyberdyne Inc.
  • Ekso Bionics Holdings Inc.
  • Gogoa Mobility Robots
  • Hocoma AG
  • Lockheed Martin Corporation
  • Parker-Hannifin Corporation
  • RB3D
  • Rehab-Robotics Company Limited
  • ReWalk Robotics Ltd.
  • Rex Bionics Ltd.
  • suitX (US Bionics)