Originally published on Technavio: Global Medical Exoskeleton Market Forecast 2023-2027**

Introduction:
The forecast for the Medical Exoskeleton Market reveals a projected increase of USD 974.84 million between 2022 and 2027, presenting a robust Compound Annual Growth Rate (CAGR) of 36.43%. With the United States leading the market share in 2017, expecting an annual revenue of USD 35.58 million, this research report provides industry forecasts and segmentation based on technology, encompassing both powered and passive exoskeletons. Geographically, the report delves into North America, Europe, Asia, and the rest of the world (ROW). Comprehensive analysis, historical data (2017-2021), and future forecasts are presented in terms of value (in USD Million) for all mentioned segments.

Market Size and Growth Analysis:
The Medical Exoskeleton Market anticipates substantial growth, exhibiting a notable CAGR of 36.43%, resulting in a projected increase of USD 974.84 million. This trajectory is attributed to heightened focus on digital transformation initiatives, rising demand for data integration, and widespread adoption of cloud services.

Market Analysis:
Increasing Usage in Rehabilitation:
The primary growth driver for the medical exoskeleton market stems from the escalating utilization of medical exoskeletons in rehabilitation. Beyond aiding patients in regaining mobility, these exoskeletons extend patients' ability to engage in more physical activities by enhancing standing and walking distances. Particularly beneficial for patients with paraplegia and paralysis, these devices serve as rehabilitation therapy tools, enabling them to stand and walk upright despite impaired brain functions. This not only increases bone density and endurance but also mitigates the risk of complications such as blood clots, osteoporosis, and pressure sores. Noteworthy is the REX by Rex Bionics, a hands-free robotic walking device offering improved metabolic and physiological functions for patients with limited upper body mobility.

Segment Trends:
Leading Segment - Mobile Exoskeletons:
Mobile exoskeletons, designed for homecare settings, are poised to dominate the exoskeleton market. Offering support for powered knee or hip motion, these wearable devices assist individuals with spinal cord injuries and mobility limitations, enabling activities such as standing, walking with crutches, or using a walker while maintaining balance. Despite being more complex and costly to develop compared to stationary exoskeletons, mobile exoskeletons employ sophisticated controllers and sensors for movement facilitation. The customization based on individual needs makes them an ideal choice for a diverse range of patients.

Regional Analysis:
North America's Prominent Position:
North America is expected to contribute 41% to the global market's growth during the forecast period. The United States, in particular, leads revenue generation due to advanced medical facilities, an increase in individuals with spinal cord injuries facing physical limitations, and a robust demand for self-assistive medical exoskeletons. In 2021, 54 out of a million people in the US experienced spinal cord injuries. Factors such as the American Spinal Injury Association (ASIA), favorable payment policies, and the presence of major suppliers like Parker-Hannifin Corp. and Ekso Bionics Holdings contribute to the market's growth in the region.

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The Medical Exoskeleton Market exhibits a fragmented nature with significant players including Bionik Laboratories Corp., B-Temia, Cyberdyne Inc., DIH Group, Ekso Bionics Holdings Inc., and Exoatlet Global SA. The competitive landscape encompasses 15 market companies, such as GOGOA Mobility Robots SL, Honda Motor Co. Ltd, Marsi Bionics SL, Myomo Inc., Ottobock SE and Co. KGaA, and others.
The market report forecasts revenue-driven growth globally, regionally, and at the country level, analyzing trends and growth opportunities from 2017 to 2027.

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