Market Trends of Global Exoskeleton Industry
The Mobile Segment is Expected to Exhibit Significant Growth Opportunities Over the Forecast Period
Mobile exoskeletons are designed to allow free movement of users and are designed with more customer-centric attributes. Factors such as increasing demand for mobile systems for their enhanced mobility and flexibility and improved ergonomic designs of mobile systems are projected to fuel segmental growth over the forecast period. Growing applications of mobile exoskeleton systems in different industry verticals like healthcare and manufacturing are expected to propel market growth over the forecast period.
The improved role of mobile exoskeletons, like lower-limb exoskeletons, in the normal movement of patients is projected to foster the adoption of such exoskeletons, which would boost segmental growth over the forecast period. For instance, according to an article published by Medicine in January 2022, the mobile lower-limb exoskeleton can provide functional exercises and closely resemble normal movement patterns. Thus, such benefits offered by mobile systems are likely to propel their adoption over the coming years.
The increased burden of musculoskeletal disorders like osteoarthritis, spinal cord injuries, and dysplasia has contributed to the increased demand for mobile exoskeletons with enhanced battery backup. For instance, according to an article published by BMC Musculoskeletal Disorders in April 2024, osteoarthritis poses a significant disease burden on people aged 30 to 44 years, and the burden is amid unhealthy lifestyles and obesity.
Thus, the significant burden of osteoarthritis generates the demand for mobile exoskeletons with enhanced battery life for long-lasting support to people while walking, which is expected to boost segmental growth over the coming years.
Several initiatives by companies to enhance their geographic reach are further projected to accelerate segment growth. For instance, in October 2023, Wandercraft, a manufacturer of mobile exoskeletons, started its operations in the United States by launching the mobility exoskeleton Atalante X in partnership with the Kessler Foundation.
Thus, the above-mentioned factors, like the growing demand for mobile exoskeleton systems, the benefits associated with them, and several strategic initiatives undertaken by market participants, are projected to boost segmental growth over the forecast period.
North America is Expected to Hold a Significant Market Position Over the Forecast Period
The key factors driving the North American market are the significant burden of musculoskeletal disorders, the rising geriatric system, and the growing adoption of exoskeleton systems amid higher awareness levels. In addition, rising research activities in the region and several strategic initiatives undertaken by market participants are expected to accelerate market growth over the forecast period.
The significant burden of musculoskeletal disorders across the region is expected to accelerate the adoption of exoskeleton systems, which is projected to accelerate market growth over the forecast period. For instance, according to an article published by Neurotrauma Reports in April 2024, the burden of spinal injuries in polytraumatized patients increased over the years in Mexico, and most of them were among the elderly population. Similarly, according to the May 2024 updated data of the Osteoarthritis (OA) Action Alliance, arthritis is one of the key conditions in the United States, and an estimated 1 in 5 people have arthritis every year. Thus, the increasing burden of musculoskeletal disorders is projected to foster the adoption of exoskeleton systems for assistive movement, supporting regional market growth over the forecast period.
Regional market growth is further expected to be driven by leveraging the role of exoskeleton systems in managing healthcare workflow. For instance, according to an article published by BMC Nursing in May 2024, the integration of exoskeleton systems in nursing departments could improve posture, reduce fatigue and strain, and help improve overall job satisfaction. This is expected to accelerate regional market growth over the forecast period.
Research efforts to develop promising exoskeleton systems for multiple applications are projected to boost regional market growth over the forecast period. For instance, in April 2024, a group of researchers from NC State University’s Department of Mechanical and Aerospace Engineering published a new research paper on pediatric exoskeletons Mechatronics that focused on the application of exoskeletons in pediatrics. Such research activities are expected to facilitate the development of novel exoskeletons to cater to several unmet needs.
Thus, the above-mentioned factors, such as the significant burden of musculoskeletal disorders, the growing uptake of the exoskeleton system, and rising research activities in the region, are projected to boost regional market growth over the forecast period.
