Increasing incidences of neurological disorders is driving the Medical Exoskeleton Market
Technavio analyzes that the Medical Exoskeleton Market is expected to grow at a CAGR of 55.77% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.87 billion.There are various factors that contribute to the growth of the market. The medical exoskeleton market is experiencing significant growth due to the rising incidence of Spinal Cord Injuries (SCIs). These injuries often result in paralysis and require long-term care, making medical exoskeletons an essential solution for enabling mobility and improving the quality of life for affected individuals. Medical exoskeletons are wearable robotic devices that support and enhance human mobility, making them an invaluable tool for individuals with SCIs. These devices offer numerous benefits, including improved functional abilities, reduced caregiver burden, and increased independence. As the prevalence of SCIs continues to rise, the demand for medical exoskeletons is expected to increase substantially in the coming years.
In the realm of assistive technology, MEDEXO ROBOTICS' mobile exoskeletons represent a significant advancement in homecare solutions for individuals with mobility impairments due to multiple sclerosis, strokes, or neurological disorders. These innovative devices facilitate powered knee or hip motion, enabling users to ambulate with crutches or a walker, thereby enhancing balance and independence. Mobile exoskeletons incorporate advanced technology, including a multi-level controller and sensors, to determine and facilitate ambulation. Customizable and configurable to individual requirements, these devices offer a more complex solution compared to stationary exoskeletons. Despite their complexity, they are compact, requiring intricately designed battery packs, lightweight motors, and controllers to fit within a streamlined structure. The development and production of these mobile exoskeletons represent a substantial investment.
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Medical Exoskeleton Market Segmentation
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Medical exoskeletons are advanced assistive devices designed to aid individuals with neurological disorders such as Stroke, SCI, cerebral palsy, and neuropathy in their rehabilitation process. FDA regulations and ISO standards ensure their safety and effectiveness. Companies like Ekso Bionics, BIONIK, B-Temia, Bioventus, Hocoma, Wearable Robotics srl, ExoAtlet, Meditouch, and others provide these rehabilitation devices for mobility challenges due to spinal cord injury, cerebral palsy, or stroke. These exoskeletons offer an alternative to traditional rehabilitation devices like wheelchairs, crutches, and walkers, enhancing quality of life.
The medical exoskeleton market is a significant segment within the global healthcare equipment industry, focusing on assistive devices for stroke patients and those with severe musculoskeletal injuries. These advanced, differentiated, and clinically tested devices, developed by leading companies such as Ekso Bionics and ReWalk Robotics, facilitate rehabilitation approaches. FDA regulations and ISO standards ensure product safety and efficacy. Rehabilitation centers are major consumers, utilizing self-assist exoskeletons for spinal cord injuries (SCI) and other conditions. The global healthcare equipment market size is determined by the combined revenue generated from manufacturers of diagnostic equipment and devices, encompassing capital equipment, instruments, implants, accessories, and consumables used across various therapy areas.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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