FREMONT, California/PRNewswire/ --
According to a new market intelligence report by BIS Research titled "Global Wearable Robotic Exoskeleton Market - Analysis and Forecast, 2018-2028" the wearable exoskeleton market is projected to grow at a CAGR of 43.48%, during the forecast period from 2018 to 2028 and reach $5.4 billion by 2028. The market is anticipated to showcase a high growth-rate as there is an increased application of wearable exoskeletons for patients undergoing rehabilitation therapy, proliferation of geriatric population, as well as the rapid technological advancements in artificial intelligence and robotics enhancing the wearable exoskeleton as a product. The recent innovations have also enabled the technology to reach a wider consumer-base in the industry.
Browse 14 market Data Tables and 151 Figures spread through 218 Pages, and in-depth TOC on 'Global Wearable Robotic Exoskeleton Market'.
The need and interest to incorporate sensing and assistive technologies into the therapy for neurological disorders such as stroke, central nervous system disorder, and spinal cord injury have led to an increased demand for exoskeletons for rehabilitation applications. Exoskeleton-assisted therapy has advantages over conventional manual therapy, as the former is capable of providing intensive training to patients, improved functional outcomes, and better quantitative feedback.
According to Shubhranshu Agarwal, Sr. Research Associate at BIS Research, "In 2018, the region of Europe dominated the wearable robotic exoskeleton market with a share of approximately 39.32% in terms of revenue. However, the regional analysis of the market has unveiled an immense growth potential for the region of Asia-Pacific, which isexpected to grow at a CAGR of 48.17%, during the forecast period of 2018-2028. Especially so, as Japan and China are estimated to grow as the major contributors to the wearable robotic exoskeleton market, in terms of revenue, in the APAC region."
The BIS Research report provides an analysis of the trends influencing the market, along with a comprehensive study of future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including their corporate overview, financial summary, and SWOT analysis. The overall market has been segmented into mode of operation, end-user application, material type, limb type, and region. Healthcare, industrial, defense, and commercial industries are covered under the end user segmentation for the study. The report includes upper limb, lower limb, and full-body segmentation as part of the wearable robotic exoskeleton market for categorization under limb type. The report also includes a comprehensive section on the regional analysis for the market, focusing on North America, Europe, Asia-Pacific, and Rest-of-the-World.
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The advancements in artificial intelligence (AI) and robotics have led the key manufacturers to build advanced wearable robotic exoskeletons that are widely used in healthcare and other manufacturing industries. ATOUN Co., Ltd., B-Temia Inc., Bionik Laboratories Corp., Cyberdyne Inc., Ekso Bionics Holdings, Inc., Hocoma AG, Myomo Inc., Parker Hannifin Corporation, ReWalk Robotics Ltd., and Rex Bionics PLC are some of the leading wearable robotic exoskeleton producers. Additionally, the report focuses on the strategic developments of the emerging start-ups in the exoskeleton market.
Key questions answered in the report:
- What are the trends in the global wearable robotic exoskeleton market across regions?
- What are the major driving forces for increasing the demand for the wearable robotic exoskeleton market during the forecast period 2018-2028?
- What are the major challenges inhibiting the growth of the global wearable robotic exoskeleton market?
- Which end user (healthcare, industrial, defense, and commercial) of the global wearable robotic exoskeleton market dominated in 2017, and what would be the expected scenario by 2028?
- What was the revenue generated by the global wearable robotic exoskeleton market by mode of operation, end user, application, material type, and limb type in 2017, and what would be the estimates by 2028?
- What was the aggregate revenue generated by the global wearable robotic exoskeleton market, segmented by region (North America, Europe, Asia-Pacific, and Rest-of-the-World), in 2017, and what would be the anticipated estimates by 2028?
- Who are the key players in the global wearable robotic exoskeleton market, and what are the new strategies adopted by them to establish their dominance in the industry?
- What major opportunities do the wearable robotic exoskeleton companies foresee in the next 10 years?
- What is the competitive strength of the key players in the wearable robotic exoskeleton market?
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