Medical Exoskeleton Market to Witness Outstanding Growth of USD 3.0 Billion by 2031 | Annual Growth

The medical exoskeleton market size was valued at $232.49 million in 2021, and is estimated to reach $3,044.7 million by 2031, growing at a CAGR of 29.4% from 2022 to 2031.

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Covid19 Impact on Medical Exoskeleton Market 

1. Research and Development Delays: The pandemic may have caused disruptions in research and development activities related to medical exoskeletons. Laboratories, universities, and companies working on these technologies may have experienced delays due to lockdowns, restrictions, and prioritization of resources towards addressing the immediate challenges posed by COVID-19.
2. Supply Chain Disruptions: The medical exoskeleton industry, like many others, relies on a global supply chain for components and materials. Disruptions in the supply chain, transportation, and logistics during the pandemic may have impacted the production and distribution of medical exoskeletons.
3. Shift in Priorities: Healthcare systems worldwide faced unprecedented challenges during the pandemic. Many resources were redirected towards addressing COVID-19, affecting the attention and funding available for other medical technologies, including exoskeletons.
4. Clinical Trials and Adoption: Clinical trials for new medical devices, including exoskeletons, might have been affected by the limitations imposed by the pandemic. Hospitals and healthcare facilities were under immense pressure to manage COVID-19 cases, potentially slowing down the adoption and integration of new technologies.

It’s important to note that the situation may have evolved since my last update, and developments in the field of medical exoskeletons may have occurred. To get the most recent and accurate information, I recommend checking recent scientific publications, industry reports, and news sources for updates on the impact of COVID-19 on medical exoskeletons.

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Key Findings of The Study

• By type, the powered exoskeletons segment was the highest contributor to the market in 2021.
• By component, the software segment was the highest contributor to the market in 2021.
• By mobility, the mobile segment was the highest contributor to the market in 2021.
• By application, the spinal cord injuries segment dominated the market in 2021 and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical exoskeleton market analysis from 2021 to 2031 to identify the prevailing medical exoskeleton market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the medical exoskeleton market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global medical exoskeleton market trends, key players, market segments, application areas, and market growth strategies.

Key Players-

• Ottobock SE & Co. KGaA (suit X)
• Wearable Robotics srl
• Rewalk Robotics
• Ergosante
• Ekso Bionics
• DIH Medical
• CYBERDYNE INC.
• B-Temia
• ExoAtlet
• Human Motion Technologies LLC

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