Healthcare Sector to Make Significant Impact in the Adoption of Exoskeleton Wearable Robots Market

Introduction

Exoskeletons in healthcare generally use a flexible structure with conventional actuation systems. Smart materials trend in robotic technology engendered soft and light systems, which improves wearability and acceptance rate. Healthcare considers various user groups: primary users - exoskeletons for elderly patients and stroke patients, secondary users - doctor, physiotherapist, family members, tertiary users - social welfare, health insurance, policymakers, and advocacy groups.

The global exoskeleton wearable robots market is an emerging market and is presumed to grow during the forecast period. The global exoskeleton wearable robots market was valued at USD 24.9 billion in 2019 and is presumed to grow at a CAGR of 27.3% during the forecast period. The growth is attributed to the increasing popularity of industrial body parts. Furthermore, the growing demand for exoskeleton wearable robots in the manufacturing and construction industry is also one-factor propelling market growth.

Moreover, the growing geriatric population also adds to the growth of the exoskeleton wearable robots market. However, high initial costs of deployment hinder the market growth.

Key Highlights

• By type, the full and upper body segment holds higher CAGR and is expected to witness growth during the forecast period. The growth is attributed to growing demand in the industrial and household sectors.
• By end-users, Healthcare holds a dominant position and is anticipated to witness growth during the forecast period. The growth is attributed to the increasing geriatric population across the globe.
• By region, North America holds a higher CAGR and is anticipated to witness growth on account of major players offering exoskeleton wearable robots.
• Asia-Pacific is the fastest-growing region over the forecast period because of increasing investment in developing economies in healthcare and manufacturing infrastructure such as China, India, and Indonesia.

Competitive Players

Recent Developments

Segmentation

Exoskeleton Wearable Robots Market: Segmentation

By Type

• Full body
• Upper and Lower Body

By End-Users

• Industrial
• Defence
• Healthcare
• Others
  • Search and Rescue Operations and Disaster Relief
  • Sports and Fitness
  • Agriculture

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• The U.K.
• Italy
• France
• Spain
• Germany
• The Rest of Europe

The Middle East and Africa (MEA)

• Saudi Arabia
• Egypt
• South Africa
• The Rest of MEA

Asia-Pacific

• India
• China
• Japan
• Australia
• South Korea
• The Rest of Asia-Pacific

South America

• Colombia
• Brazil
• Chile
• Peru
• Argentina
• The Rest of South America