North America Medical Exoskeleton Market Forecast to 2031 - Regional Analysis - by Component, Type, Extremity, Application, Mobility, and End Users

The North America medical exoskeleton market was valued at US$ 159.30 million in 2023 and is expected to reach US$ 1.40 billion by 2031; it is estimated to register a CAGR of 31.2% from 2023 to 2031.

Rising Number of Strategic Initiatives Fuels North America Medical Exoskeleton Market

Small and big companies operating in the medical exoskeleton market adopt various strategies such as geographic expansion, new product launches, and technological advancements to boost their revenues. A few recent developments in the medical exoskeleton market are mentioned below; In July 2022, Ekso Bionics Holdings Inc. received approval from the US Food and Drug Administration (FDA) to market its EksoNR robotic exoskeleton for patients suffering from multiple sclerosis. It was cleared for stroke and spinal cord injury (SCI) rehabilitation in 2016 and acquired brain injury in 2020. It has also received CE certification and is available in Europe.

Samsung Electronics has received the US FDA for its assistive robot "GEMS Hip," a wearable device that acts as an exoskeleton for users with mobility issues using an active assist algorithm to improve gait and muscle movement. In December 2021, German Bionic launched the fifth generation of the Cray X exoskeleton. The fifth-generation Cray X underscores technology leadership in the massively growing international exoskeleton market. The company's innovations are paving the way for more people and businesses worldwide to benefit across a wider range of use cases and industries. In November 2021, Ottobock acquired Bay Area-based exoskeleton startup SuitX. SuitX is a spinout of UC Berkeley’s Robotics and Human Engineering Lab.

Both companies effectively operate in the same category, producing robotic exoskeletons designed for two distinct purposes - work assistance and healthcare. In May 2021, Roam Robotics launched “Ascend,” a smart knee orthosis that helps wearers reduce knee pain and regain mobility. It senses the body’s movement, automatically adjusts to the wearer’s needs, and provides precise support at the right moment for target muscle groups.

It is a registered Class I device with FDA approval available for purchase directly and through private and Medicare insurance, radically expanding public accessibility to wearable robotic devices. Therefore, the active participation of market players in product launches, expansions, partnerships, and mergers & acquisitions boosts the growth of the medical exoskeleton market.

North America Medical Exoskeleton Market Overview

Market players are receiving product approvals in the US to enhance the exoskeleton business. For instance, in July 2022, Ekso Bionics Holdings Inc. received marketing approval from the US Food and Drug Administration for its EksoNR robotic exoskeleton to use in patients with multiple sclerosis. Thus, the growing developments by various medical device giants in the US healthcare industry will further boost the market for medical exoskeletons in the country in the upcoming years.

North America Medical Exoskeleton Market Revenue and Forecast to 2031 (US$ Million)

North America Medical Exoskeleton Market Segmentation

The North America medical exoskeleton market is categorized into component, type, extremity, application, mobility, end users, and country.

By component, the North America medical exoskeleton market is segmented into hardware and software. The hardware segment held a larger share of the North America medical exoskeleton market share in 2023.

In terms of type, the North America medical exoskeleton market is segmented into powered exoskeleton and passive exoskeleton. The powered exoskeleton segment held a larger share of the North America medical exoskeleton market share in 2023.

Based on extremity, the North America medical exoskeleton market is segmented into lower body exoskeleton, upper body exoskeleton, and full body exoskeleton. The lower body exoskeleton segment held the largest share of the North America medical exoskeleton market share in 2023.

By application, the North America medical exoskeleton market is segmented into spinal cord injury, multiple sclerosis, stroke, cerebral palsy, Parkinson’s Disease, and others. The spinal cord injury segment held the largest share of the North America medical exoskeleton market share in 2023.

In terms of mobility, the North America medical exoskeleton market is segmented into mobile exoskeleton and stationary exoskeleton. The powered exoskeleton segment held a larger share of the North America medical exoskeleton market share in 2023.

By end users, the North America medical exoskeleton market is segmented into rehabilitation centers, physiotherapy centers, long term care centers, homecare settings, and others. The rehabilitation centers segment held the largest share of the North America medical exoskeleton market share in 2023.

Based on country, the North America medical exoskeleton market is segmented into the US, Canada, and Mexico. The US segment held the largest share of North America medical exoskeleton market in 2023.

BIONIK; B-Temia Inc; Cyberdyne Inc; Ekso Bionics Holdings Inc; ExoAtlet; Hocoma AG; Lifeward, Inc; Myomo Inc; and Rex Bionics Ltd. are some of the leading companies operating in the North America medical exoskeleton market.

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