2020-2027 Analysis and Review Bionic Exoskeletons Market

Bionic Exoskeletons Market

Bionic Exoskeletons Market By Type (Stationary and Mobile) by End User (Medical, Military and Others - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027

16-07-2020 REP-HC-5136 40 Tables 110 pages Format

The bionic exoskeletons market was valued at USD 1,096.0 Mn by 2019. Significant increase in the number of individuals suffering from limb amputations worldwide primarily drives the bionic exoskeletons market growth. Furthermore, the increasing funds provided by the defense segment to enhance the technology associated with bionic exoskeletons further accentuates the market growth.

Bionic Exoskeletons Market

As per the latest information provided by the World Health Organization (WHO), each year approximately 500, 000 people throughout the globe are reported to be suffering with spinal cord injuries which results in the permanent paralysis of the lower extremities. Cerebral palsy, Parkinsonism, etc., have led to the increasing demand for bionic exoskeletons to provide mobility and adequate limb support to individuals suffering with some form of paralysis or limb movement disability.

The major segments related to the bionic exoskeletons market are: 

By Type (2017–2027; US$ Mn)

Stationary

Mobile

By End User (2017–2027; US$ Mn)

Medical

Military

Others

Geography Segment (2017–2027; US$ Mn)

North America

U.S.
Canada

Europe

United Kingdom
Germany
Russia
France
Italy
Spain
Ukraine
Rest of Europe

Asia Pacific

China
Japan
Rest of Asia Pacific

Latin America (LATAM)

Brazil
Mexico
Rest of Latin America

Middle East and Africa (MEA)

GCC
Rest of MEA 

Justification for study?

  • The intention of the study is to give a comprehensive outlook of the global bionic exoskeletons market
  • The overall segmentation of the bionic exoskeletons market, by type, end-user, and geography is minutely studied. Stationary and medical are dominating the type and end-user segments respectively
  • Significant increase in the number of limb amputation performed across the globe
  • Increased funding provided by the defense segment to develop the technology associated with bionic exoskeletons further accentuates the market growth

Report gist?

  • The study of the global bionic exoskeletons market includes qualitative analysis of factors such as drivers, restraints, and opportunities
  • The report covers the qualitative and quantitative analysis of the overall market segmented on the basis of type and end-user and categorization of the same at the geography level
  • This research report presents the analysis of each segment from 2017 to 2027 in which 2019 is considered as the base year. The compounded annual growth rate is calculated for the respective segments from 2020 to 2027

The study includes the profiles of major market players with a significant global and regional presence along with top company positioning. 

Significant customers?

  • This study is suitable for industry participants and stakeholders in the medical devices actively engaged in the production and marketing of bionic exoskeletons due to the significant increase in the number of limb amputations performed worldwide
  • The report will benefit defense contractors engaged in the development of technology associated with bionic exoskeletons
  • Managers with financial institutions looking to publish recent and forecasted statistics pertaining to bionic exoskeletons market
  • Financial institutions, venture capitalist, analysts, investors, government organizations, policymakers, regulatory authorities, researchers, looking for insights into the market to determine future strategies 

Segment Analysis

Stationary is presently dominating the type segment for bionic exoskeletons market. The ergonomic features associated with stationary bionic exoskeletons are the capability to provide strength and power assistance to weakened limbs and make that body part sturdy. Significant increase in its demand from the homecare settings and rehabilitation centers to assist patients suffering from spinal cord injuries to stand and walk. Mobile bionic exoskeletons are going to register rampant market growth in the near future on account of this increasing demand from the military segment across the globe to accelerate body motion and reduce fatigue during military tactical operations.

Medical is currently leading the end-user segment for the bionic exoskeletons market. The constant rise in traumatic accidents, workplace hazardous activities, gangrene has resulted in concomitant limb amputation across the globe. As per the latest research citings provided by the International Diabetes Federation (IDF), there are approximately more than 1 million limb amputations each year globally, which is roughly 1 amputation every 30 seconds. The military is expected to showcase exemplary market performance during the forecast period on account of the increasing funds allocated by the defense segment worldwide in improvising the technology associated with bionic exoskeletons suits which will provide natural strength and endurance to soldiers to carry heavy loads and darts across the battlefield at an incredible speed.

North America is representing the largest market share in the geography segment for the bionic exoskeletons market. A significant increase in the number of limb amputations primarily drives the bionic exoskeleton's market growth in the region. As per the latest statistics provided by the National Institute of Health (NIH), it is estimated that approximately 185,000 amputations are performed in the United States each year. Furthermore, the domicile of key players such as Ottobock, Inc., DJO Global, Inc., and Ossur Corporate, etc. further accentuates the market growth in the region. Europe is considered as the second-largest regional segment for bionic exoskeletons market on account of the strategic collaboration between the defense segment and the medical device manufacturers to enhance the technology associated with the bionic exoskeletons. Additionally, the nurturing regulatory environment provided by the European Medical Agency (EMA), for the sale and distribution of bionic exoskeletons further propels the market growth in the region. The Asia Pacific is anticipated to be the fastest-growing regional segment for bionic exoskeletons owing to the developing healthcare infrastructure and lucrative market opportunity for western giants to establish retail outlets and subsidiaries in the Asia Pacific region.

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