Exoskeleton Market Will Grow at a Healthy CAGR by 2026

Exoskeleton Market Will Grow at a Healthy CAGR by 2026

A detailed analysis of the exoskeleton market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the market report also contains information on the pivotal industry insights for core players to look out for.

The Wyss-ReWalk partnership inked in Q3 2017 sent out waves of anticipation across exoskeleton market, based on the premise of the fact that both the organizations have been striving toward helping people with physical impairments. Elaborating further, ReWalk recently made it to the headlines for working on an exoskeleton designed to enable stroke affected patients regain their mobility. In consequence, the firm signed a partnership with the Wyss Institute, Harvard, renowned for specializing in the development of innovative technology powered by biological design principles.

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ReWalk’s current brainchild, dubbed Restore, functions similar to a swing, with a belt joined to a single leg brace targeting the joint that a stroke impacts the most – the ankle, so that patients may get over the inertia and move their leg in the forward direction to regain mobility. The exoskeleton is endowed with sensors monitoring the speed parameter, to hasten or slow down the wearer’s stride. Restore has already garnered rave reviews across exoskeleton market, despite the fact that this business space is afloat with numerous exoskeletons for paraplegics manufactured by eminent companies. In effect though, it is quite apparent that the popularity of these devices has majorly catapulted market size.

Irrefutably, the healthcare industry will stand to be one of the most lucrative application arenas for the global exoskeleton market. As a matter of fact, the expanding requirement for rehabilitation for gait disorders such as Parkinson’s disease and other spinal cord injuries will drive the deployment of exoskeletons in healthcare centers. This in consequence will augment industry size from healthcare applications, which is projected to dominate the overall market share over 2019-2026.

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Asia Pacific has been proclaimed to emerge as the next lucrative growth ground for exoskeleton market, given the robust demand for wearables in the region. The growing geriatric population in the continent, vulnerable to strokes and mobility issues, would demand the deployment of rehabilitation therapy procedures. This would subsequently necessitate the requirement of advanced exoskeletons designed to help patients with gait training and the like, thereby providing a boost to APAC industry share.

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