Exoskeleton Market Size

Exoskeleton Market size is slated to cross USD 11 Billion by the end of 2035, growing at a CAGR of 24% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of exoskeleton was around USD 1 Billion. The major element anticipated to influence the market demand is the growth in number of people suffering from spinal cord injuries. Between 250,000 and 500,000 individuals get spinal cord injuries annually globally. The majority of these cases have resulted from avoidable factors including violence and auto accidents.

Furthermore, with technological improvements, the demand for robots is impacted by the specifications of what they are made of and their prospective uses. The introduction of superior materials, sensors and actuators, control systems, and software technologies is a result of ongoing study and development in the field of electrical and electronic engineering. These cutting-edge components have made it simpler to develop exoskeletons that are new, better, very power-efficient, self-powered, lightweight, less complicated, and portable.

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growing prevalence of emergency situation, rise in use of robotic exoskeleton for industrial use, and surge in preference for this product by military.

The market size of robotic exoskeleton is anticipated to attain a CAGR of ~24% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Myomo, Inc., Bionik, ATOUN Inc., Cyberdyne Inc., and others.

The powered segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

Exoskeleton Market Size