Wearable Exoskeletons Market Analysis by Product (Rigid Smart Exoskeletons, Soft Smart Exoskeletons), by Extremity (Lower, Upper, Full-body Extremity Exoskeletons), by Application, by End User, by Region
As per a study conducted by Fact.MR, the global wearable exoskeletons market is projected to reach a valuation of US$ 282.88 Mn by the end of 2022, and is likely to expand at a CAGR of 30.3% until 2032
Governments in several countries are extensively focusing on strengthening their military infrastructure and adopting innovative technologies such as wearable exoskeletons to enhance soldier capabilities. For instance, in 2021, the China Government announced deploying advanced exoskeleton suits for soldiers to assist them in carrying ammunitions.
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Hence, increasing penetration of these exoskeleton technologies across the military &defense sector is expected to favor the growth in the market. Fact.MR reveals that the sale of wearable exoskeletons is projected to rise at an exponential CAGR of 30% over the forecast period 2022-2032.
Rising prevalence of childhood disabilities such as muscular dystrophy, cerebral palsy, Prader-Willi syndrome, and others have resulted in fueling the demand for assistive devices and equipment. For instance, according to the World Health Organization, nearly 95 million children across the globe are reported to be suffering from childhood disability, with 13 million children having acute disabilities.
Thus, several market players and medical institutes are focusing on developing advanced exoskeleton technologies to assist these children. For instance, the Universidad Miguel Hernández (UMH) of Elche has announced developing a robotic exoskeleton that can assist people with disabilities to carry out activities such as eating, drinking, washing, and others.
A slew of such development and product launches are estimated to accelerate the sales of wearable exoskeletons across the healthcare segment. As per Fact.MR, the global market is forecast to expand by 39.9X through 2032.
Key Takeaways from the Wearable Exoskeleton Market Study
Key Drivers
Competitive Landscape
Prominent manufacturers in the global wearable exoskeleton market are emphasizing on the research and development (R&D) activities for introduction of novel wearable exoskeleton for diverse applications. For instance,
Some of the leading players in the market profiled by Fact.MR are:
More Valuable Insights on Wearable Exoskeleton Market
Fact.MR, in its new report, offers an unbiased analysis of the global wearable exoskeleton market, analyzing forecast statistics through 2022 and beyond. The survey reveals growth projections on in wearable exoskeleton market with detailed segmentation:
Key Questions Covered in the Wearable Exoskeleton Market Report
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Jun 23, 2023
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