Global Medical Exoskeleton Market is valued at approximately USD 0.3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 29.40% over the forecast period 2024-2032. Medical exoskeleton is a wearable robotic device designed to assist, enhance, or rehabilitate the physical abilities of its wearer. These devices are typically used in medical settings to aid individuals with mobility impairments, neurological disorders, or musculoskeletal injuries. Medical exoskeletons also help individuals with paralysis or mobility impairments to stand up, walk, and perform daily activities. They provide support to the user's limbs and augment their strength and coordination. Moreover, the increase in the prevalence of neurological disorders, rising the number of spinal cord injuries and brain injuries, the growing number of geriatric populations, and growing agreements and collaborations among companies and research organizations for the development of exoskeleton technology that anticipated to create the lucrative demand for the market during the forecast period 2024-2032.

Neurological disorders such as stroke, spinal cord injuries, multiple sclerosis, Parkinson's disease, and others can severely limit mobility and independence. Medical exoskeletons offer a solution by providing assistance and support to individuals with such conditions, enabling them to regain mobility and perform daily activities independently. According to the Parkinson's Foundation, more than 10 million people globally suffer from Parkinson's Disease (PD), and 60,000 Americans have been diagnosed with Parkinson's disease every year. Also, according to the World Health Organization, neurological disorders are responsible for 6.3% of the global disease burden. This has led to an increase in demand for innovative and effective treatments, which has driven the growth of the Medical Exoskeleton. Moreover, the rising number of product approvals by market players, and rising healthcare expenditure are anticipated to create a lucrative opportunity for the market. However, the regulatory challenges for securing approvals for medical exoskeletons, and high equipment cost stifles market growth throughout the forecast period of 2024-2032.

The key regions considered for the Global Medical Exoskeleton Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rapid advancements in robotics, materials science, and artificial intelligence, supportive regulatory environment, and the presence of key market players. Whereas the Asia Pacific is expected to grow at the fastest growth rate during the forecast period, owing to factors such as the rising incidence of neurological disorders, increasing ageing population, and cohesive government initiatives and funding.

Major market players included in this report are:
Ekso Bionics Holdings, Inc.
ReWalk Robotics Ltd.
Parker-Hannifin Corporation
Cyberdyne, Inc.
Bionik Laboratories Corp.
Rex Bionics PLC
B-TEMIA Incorporated
Bioventus LLC
Hocoma AG (part of DIH Technologies AG)
Wearable Robotics SRL
Recent Developments in the Market:
In December 2022, Ekso Bionics, a prominent figure in exoskeleton technology for medical and industrial applications, revealed its acquisition of the Human Motion and Control ("HMC") Business Unit from Parker Hannifin Corporation, a renowned global leader in motion and control technologies. Through this acquisition accompany expand its market presence globally.
Global Medical Exoskeleton Market Report Scope:
Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2024-2032
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Mobility, Component, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Powered exoskeleton
Passive exoskeleton
By Mobility:
Stationary
Mobile
By Component:
Hardware
Software
By Application:
Spinal Cord Injury
Stroke
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa