The global medical exoskeleton market size was US$ 203.78 million in 2021. The global medical exoskeleton market size is forecast to reach US$ 5699.8 million by 2030, growing at a compound annual growth rate (CAGR) of 44.8% during the forecast period from 2022 to 2030.

Exoskeletons are applications of robotics and biomechatronics that augment humans while performing a variety of tasks. In addition to exoskeletons, they can know as robotic suits, powered armor, wearable machines, power jackets, and exo-frames. A medical exoskeleton improves lost functionality and improves the lives of patients. Additionally, it aids in the treatment of musculoskeletal disorders. Physical therapists can use it to train patients with motor nerve and cognitive disabilities. Rehabilitation uses exoskeletons as well, including inpatient training and locomotion.

Factors Influencing Market Growth

• Factors including the rising funding from public and private players for this technology, increasing demand for the product from various applications, rising need for innovative rehabilitation treatments, and rising need for wearable exoskeletons are driving the global market growth.
• A high product cost and stringent regulatory approvals may slow down the growth of the overall market. 
• Globally, a growing number of people with physical disabilities and growing insurance coverage for medical exoskeletons are fueling the global market's growth. 

Impact Analysis of COVID-19

Supply chain disruptions have affected the medical exoskeleton market across the globe. A discontinuity in business operations directly impacts the revenue drift of the medical exoskeleton market. As a result of COVID-19, medical exoskeleton companies faced workforce issues, which led to a slowdown and delayed manufacturing processes due to new government rules and the implementation of lockdowns across the globe. Furthermore, several hospitals had stopped doing non-essential medical procedures and shifted their focus to the COVID-19 patients. Thus, these factors had negatively impacted the global medical exoskeleton market growth. 

Regional Insights

In 2021, North America accounted for the largest share of the revenue. In this region, the growing geriatric population, the presence of strokes, and the increasing number of spinal cord injuries (SCI) are driving the evolution of the medical exoskeleton market.

The Asia Pacific is forecast to grow at a rapid pace during the forecast period. As a result of increased awareness and the beneficial application of wearable robotics in infrastructure and industrial environments, the industry is experiencing rapid growth. In addition, the manufacture of medical exoskeletons for the defense industry is likely to be a primary driver in the market. South Korea, Japan, and China are forecast to generate the most revenue.

Leading Competitors

The leading prominent companies profiled in the global medical exoskeleton market are:

• Bionik Laboratories
• Bioventus
• B-TEMIA Incorporated
• Cyberdyne Incorporated
• Ekso Bionics
• Gogoa Mobility Robots
• Lockheed Martin Corporation
• Parker Hannifin Corp
• Rewalk Robotics
• Rex Bionics
• Suit X
• Wearable Robotics
• Other Prominent Players

Scope of the Report

The medical exoskeleton market segmentation focuses on Component, Type, Application, End-Use, and Region.

Segmentation based on Component

• Hardware
  • Sensor
  • Actuator
  • Control System
  • Power Source
• Software

Segmentation based on Type

• Powered
• Passive

Segmentation based on Application

• Spinal Cord Injury
• Multiple Sclerosis
• Cerebral Palsy
• Stroke
• Others

Segmentation based on End-Use

• Rehabilitation Centers
• Physiotherapy Centers
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America