The global exoskeleton market will touch USD 6,957.9 million, propelling at a 35.9% compound annual growth rate, by 2030.
The progression of this industry can be attributed to the rising count of spinal cord injuries & strokes, the mounting elderly populace, the growing utilization of these devices in military and industrial operations, increasing healthcare expenses, and mounting opportunities for jobs for disabled individuals.
As a result, the quickly increasing aging populace is enhancing the prospects of growth for the players in the industry because of the capability of these devices to provide physical strength to elder individuals.
In the past few years, the hardware category, based on component, held the larger share in the exoskeleton market. This can be attributed to the fact that exoskeletons mainly include hardware mechanisms, such as powered systems, actuators, and sensors.
The powered category, based on type, is likely to advance at a faster rate in the year to come. Powered exoskeletons utilize connections, motors, electric cables, and batteries, to power sensors and actuators, over a control system, to allow limbs or other body parts movements and, as a result, provide excellent strength and endurance.
The mobile category, based on mobility, is likely to observe faster growth, in the years to come. This can be attributed to the increasing count of healthcare facilities, as well as the movability & flexibility provided by this exoskeleton.
Make inquiry before purchase of this report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=exoskeleton-market-forecast
In recent years, the lower extremities category, based on body part, accounted for the dominating share of the industry. This can be attributed to the accessibility of various lower-body exoskeleton products, the high necessity for reimbursing impaired patients for their motor function loss, and several incidences of spinal & leg injuries that affect the lower parts of the body.
The healthcare category, based on end user, led the industry in recent years. This is because of the enormous count of rehabilitation centers and clinical care across the globe, which necessitate exoskeletons for daily patient treatment.
North America led the industry in recent years, and it will remain leading in the years to come. This is because of the surging workforce of disabled individuals, the rising accessibility of these devices, and the mounting acceptance of exoskeletons in the sector of healthcare and military.
APAC will advance at the fastest rate till the end of this decade. This is because of the mounting elderly populace and the increasing utilization of exoskeletons in the field of medicine. Additionally, the speedily surging elderly populace has led to the mounting occurrence of disability & orthopedic illnesses in the continent.
With the high count of stroke and SCIs cases, as well as the surging utilization of these devices in military and industrial operations, the exoskeleton industry will continue to grow in the coming years.
