The Infinium Global Research analyzes the Exoskeleton Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global exoskeleton market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of exoskeleton. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the exoskeleton market during the period.
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Rising Prevalence of Parkinson’s, Multiple Sclerosis, and Other Muscle-Related Diseases Globally is Driving the Growth of the Exoskeleton Market
The rising prevalence of Parkinson’s, multiple sclerosis, and other muscle-related diseases globally is driving the growth of the exoskeleton market. These exoskeletons are placed on the user's body which performs as amplifiers that augment, support, or renovate human performance. As per research, the incidence of Parkinson’s disease increases with age and it estimated that an average of 4% of people diagnosed with PD before age 50. Additionally, rise in the aging population and the growing purchasing power of patients will increase the demand for exoskeleton and anticipated to influence the market growth. Further, the growing adoption of medical devices to support and trigger body movement will positively impact the acceptance of exoskeletons.
Moreover, they are made up of rigid materials such as metal or carbon fiber which offer flexibility and comfortable motion during operation. Besides that, the growing importance of exoskeleton in the manufacturing and defense sector escalates the growth of the market. These robotic equipments are also finding a broader range of applications in industries such as construction and warehousing. However, the high cost involved in the production which increases the overall product cost is expected to hamper the market growth. Moreover, recent technological advancements and continuous investment in R&D to reduce the overall weight and relieve movement will fuel the demand for the exoskeleton market in the forecast period.
North America Region Held the Largest Share in An Industrial Wearable
Among the geographies, North America region held the largest share in an industrial wearable. The US is the major market driver in the North America region. Over 1 million people are diagnosed with Parkinson’s disease every year in the U.S. alone. Further, the growing geriatric population, increase in the number of organizations, and high purchasing power of patients increase the demand for the exoskeleton market. Further increasing funding for the development of technologically advanced products will propel the market growth in this region. However, Asia Pacific is anticipated to witness the fastest growth over the forecast period. Growing healthcare infrastructure and the presence of a large patient pool is expected to increase the demand in this region.
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Exoskeleton Market: Segmentation
The report on the global exoskeleton market covers segments such as component, type, mobility, body part, and vertical. On the basis of component, the sub-markets include hardware, and software. On the basis of type, the sub-markets include powered, and passive. On the basis of mobility, the sub-markets include stationary, and mobile. On the basis of the body part, the sub-markets include lower extremities, upper extremities, and full body. On the basis of vertical, the sub-markets include healthcare, industrial, defense, and others.
Exoskeleton Market: Companies Profiled
The report provides profiles of the companies in the market such as Ekso Bionics, CYBERDYNE, INC., Ottobock, Fourier Intelligence, GOGOA Mobility Robots, ReWalk Robotics Ltd., Lockheed Martin Corporation, Parker Hannifin Corp., MITSUBISHI HEAVY INDUSTRIES, and Bionik Laboratories.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the exoskeleton.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2026.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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