Exoskeleton Market Trends, Statistics, Segments, Graphs Growth Factors Forecast to 2030

 

 Exoskeleton Industry Overview

The global exoskeleton market size was estimated at USD 419.5 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 16.6% from 2024 to 2030. In terms of volume, the market volume was 13,643 units in 2023 and is projected to grow at a CAGR of 9.3% from 2024 to 2030. Rapidly growing global geriatric population, rising adoption rates of medical devices in different industries such as automobile, military, defense, and construction, and rising incidence of stroke are some of the key driving forces responsible for the market growth.

Gather more insights about the market drivers, restrains and growth of the Exoskeleton Market

Furthermore, the growing incidence rate of spinal cord injuries (SCI) is expected to drive the demand across global markets. For instance, as per the National Spinal Cord Injury Statistical Center (NSCISC), in the U.S., 17,730 new SCIs are diagnosed annually, and approximately 291,000 live with SCIs.

Exoskeleton solutions are widely adopted across industries to support employee health and boost productivity. Growing demand has led to emergence of several startups expertizing in exoskeleton technology and providing solutions for rehabilitation. Furthermore, constantly evolving exoskeleton industry is driving market players to devise innovative product development strategies to boost adoption over the forecast period. For instance, in June 2022, Ekso Bionics received 510(k) FDA clearance for marketing the EksoNR robotic exoskeleton. It is the latest generation of devices that can be used for rehabilitation of multiple sclerosis patients.

Some of the most common musculoskeletal injuries and disorders affecting the construction industry are occupational overuse syndrome (OOS), cumulative trauma disorders (CTD), and repetitive strain injury (RSI). For instance, as per WHO data estimates published in July 2022, approximately 1.71 billion individuals across the globe have musculoskeletal disorders that include neck pain, lower back pain, fractures, amputation, rheumatoid arthritis, and osteoarthrit is. Similarly, in 2022, according to the U.S. Bureau of Labor Statistics, approximately 502,380 workers have occupation-related musculoskeletal disorders across several industries. These are some of the driving factors boosting adoption of exoskeleton solutions owing to benefits associated with exoskeleton technology, such as augmenting or assisting users’ physical activity or capability, improving users’ health & productivity, and reducing fatigue experienced by industrial workers.

Rapid technological advancements in the global market are expected to boost the demand for exoskeletons. Increasing popularity and growing adoption of exoskeletons by companies are expected to contribute to market growth. In addition, increasing adoption of exoskeletons in manufacturing sector, logistics, automotive, and construction is leading to a rise in penetration of exoskeletons, thereby fueling the market growth. For instance, in December 2021, IKEA and BMW are using Bionic’s fifth generation Cray X, an AI-enabled, powered exoskeleton capable of lifting an additional 70 pounds, reducing the risk of repetitive stress injuries and back injuries. Such advancements are expected to boost market growth over the forecast period.

Browse through Grand View Research's Medical Devices Industry Research Reports.

• The global disposable hospital gowns market size was valued at USD 3.68 billion in 2023 and is projected to grow at a CAGR of 12.9% from 2024 to 2030. The heightened focus on infection control within medical settings fuels the demand for disposable gowns.

• The global knee braces market size was valued at USD 1.12 billion in 2023 and is projected to grow at a CAGR of 7.7% from 2024 to 2030. The rise in osteoarthritis (OA) cases, orthopedic knee surgeries, athletic injuries and other knee related injuries are fueling the growth of the knee brace industry.

Exoskeleton Market Segmentation

Grand View Research, Inc. has segmented the exoskeleton market report based on mobility, technology, extremity, structure, end-use, and region:

Exoskeleton Mobility Outlook (Volume, Revenue, USD Million, 2018 - 2030)
• Mobile
• Fixed/Stationary

Exoskeleton Technology Outlook (Volume, Revenue, USD Million, 2018 - 2030)
• Powered
• Non-powered

Exoskeleton Extremity Outlook (Volume, Revenue, USD Million, 2018 - 2030)
• Upper Body
• Lower Body
• Full Body

Exoskeleton Structure Outlook (Volume, Revenue, USD Million, 2018 - 2030)
• Rigid Exoskeletons
• Soft Exoskeletons

Exoskeleton End-Use Outlook (Volume, Revenue, USD Million, 2018 - 2030)
• Healthcare
• Military
• Industry

Exoskeleton Regional Outlook (Volume, Revenue, USD Million, 2018 - 2030)
• North America
o US
o Canada
• Europe
o Germany
o UK
o Spain
o Italy
o France
o Denmark
o Norway
o Sweden
• Asia Pacific
o Japan
o China
o India
o Australia
o Thailand
o South Korea
• Latin America
o Brazil
o Mexico
o Argentina
• MEA
o South Africa
o Saudi Arabia
o UAE
o Kuwait

Key Companies profiled:
• Ekso Bionics
• Hocoma
• Lockheed Martin Corporation
• Suit X
• Rex Bionics Plc.
• RB3D
• ReWalk Robotics
• Cyberdyne, Inc.
• ActiveLink (Panasonic Corporation)

Order a free sample PDF of the Exoskeleton Market Intelligence Study, published by Grand View Research.

Key Exoskeleton Company Insights

• Ekso Bionics specializes in bionic exoskeletons, robotics, and rehabilitation. Ekso Bionics received its first FDA clearance for exoskeleton for patients affected with spinal cord injuries and stroke. The company is a leader in technology innovation and is one of pioneers in the market. The company also focuses on partnering with established healthcare facilities to expand their distribution channels and enhance care delivery in newer business geographies

• Cyberdyne, Inc. develops and distributes exoskeleton suits widely used in medicine, caregiving, and living & labor support. The company has been devising various business expansion strategies such as mergers and technological collaborations. The company focuses on collaborating with different stakeholders of the supply chain, thereby increasing its clientele and expanding their business geography

• Lockheed Martin Corporation is a large company dealing in aerospace, security, defense, and other technologies. The company has expertise in developing exoskeleton or exo-robots for the military and defense industries. The company focuses on obtaining defense service contracts

Recent Developments

• In December 2023, German Bionic introduced the Apogee exoskeleton with robotic motors for healthcare workers to lift and move heavy patients with greater ease, less strain, and improved stamina

• In June 2022, CYBERDYNE Inc. formed a business and capital alliance with LIFESCAPES Inc. This collaboration highlighted the combined effort to further leverage the exoskeleton technology arena and improve rehabilitation options for patients with severe paralysis

• In June 2022, Ekso Bionics received 510(k) FDA clearance for marketing the EksoNR robotic exoskeleton. It is the latest generation of devices that can be used for the rehabilitation of multiple sclerosis patients

• In February 2020, Ekso Bionics launched EksoPulse platform, a cloud-deployed platform to measure and analyze EksoNR robotic exoskeleton. The platform is integrated with a user-friendly interface and dashboard to measure activity & progress in rehabilitation sessions

• In November 2018, Lockheed Martin received a USD 6.9 million development contract from the U.S. Army Natick Soldier Research, Development, and Engineering Center (NSRDEC) to further develop the Onyx exoskeleton for soldier demonstrations

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