According to Markntel Advisors Report, Wearable Robotic Exoskeleton Market is expected to grow at a significant growth rate, and the analysis period is 2021-2026, considering the base year as 2020. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Wearable Robotic Exoskeleton is a technology with high potential to assist humans using sensorimotor impairments to perform daily activities. It is an electromechanical device worn by humans to improve their mobility, strength, and performance while doing any task. It is powered mainly by the combination of electric motors, pneumatics, levers, & hydraulics.
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Wearable Robotic Exoskeleton Market Research Report & Summary:
The Global Wearable Robotic Exoskeleton Market is anticipated to grow at a CAGR of around 42% during the forecast period, i.e., 2021-26.                 Â
Time Period Captured in the Report:
·       Historical Years: 2016-19
·       Base Years: 2020
·       Forecast Years: 2021-26
Who are the Key Players Operating in the Wearable Robotic Exoskeleton Market?
The top companies of the Wearable Robotic Exoskeleton Market ruling the industry are:Â
ATOUN Inc., B-Temia Inc., Bionik Laboratories Corporation, Cyberdyne Inc., Daiya Industry Co., Ltd., Ekso Bionics, Focal Meditech BV, Hocoma AG, Hyundai Motor Company, Honda Motor Co., Ltd., Lockheed Martin, Mitsubishi Heavy Industries Ltd., Myomo Inc., P&S Mechanics Co. Ltd., Parker Hannifin Corporation, ReWalk Robotics Ltd., Rex Bionics PLC
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What is Included in Wearable Robotic Exoskeleton Market Segmentation?
The Wearable Robotic Exoskeleton Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Type
- Fixed Exoskeleton
- Mobile Exoskeleton
- By Operation
- Active Exoskeleton
- Passive Exoskeleton
- By Form
- Hard Exoskeleton
- Soft Exoskeleton
- By Limb
- Upper Limb
- Lower Limb
- Full Body
- By Sales Channel
- Subscription
- Direct Purchase
- Resell and Upgrade
- By Component
- Hardware
- Software
- By End User
- Defence
- Healthcare
- Industrial
- Commercial
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
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Market Dynamics
Key Driver: Mounting Demand for Exoskeleton Devices in the Healthcare Industry
The demand for wearable robotic exoskeletons in the healthcare sector is escalating dramatically due to the snowballing incidences of inborn physical disabilities & road accidents. Moreover, the rising development of lightweight & soft exoskeletons has propelled their demand among the aged population to help them aid their movements. Additionally, mounting cases of strokes & lower-limb disabilities are other crucial aspects projected to fuel the demand for wearable robotic exoskeletons and contribute to the overall growth of the Global Wearable Robotic Exoskeleton Market during 2021-26.
Growth Challenge: Non-coverage of Wearable Robotic Exoskeleton Device by Insurance Companies
Wearable robotic exoskeletons are being used extensively in several applications, like lifting heavy instruments and supporting the movement of elderly or disabled persons. These devices are also experiencing surging demand in military activities since they help warfighters enhance their capabilities on the battlefield. However, the initial investments required for deploying these devices are significantly high. Along with this, these devices are not covered under any medical insurance by any insurance companies. Hence, these factors are the most prominent aspects that might restrain the adoption of wearable robotic exoskeletons on a larger scale in the future.
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