The Medical Exoskeleton Market size is projected to reach USD 1.0 billion by 2026, from USD 0.2 billion in 2021, at a CAGR of 45.0%. The growth of this market is mainly driven by factors such as the increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches; agreements and collaborations among companies and research organizations for the development of the exoskeleton technology and increasing insurance coverage for medical exoskeletons in several countries driving the growth of the medical exoskeleton market. However, the high cost of medical exoskeletons may restrict market growth to a certain extent.
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Key Players:
Ekso Bionics Holdings, Inc. (US), ReWalk Robotics Ltd. (Israel), Parker Hannifin Corp (US), CYBERDYNE Inc. (Japan), Bionik Laboratories Corp (Canada), Rex Bionics Ltd. (UK), B-TEMIA Inc. (Canada), Hocoma AG (a subsidiary of DIH Technologies) (Switzerland), Wearable Robotics SRL (Italy), Gogoa Mobility Robots SL (Spain), and ExoAtlet (Luxembourg)
Medical Exoskeleton Industry Dynamics
Driver: Increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches
Globally, the number of people with physical disabilities is increasing majorly due to the rising geriatric population, increasing number of road accidents and severe trauma injuries, and increasing prevalence of stroke, among other factors. According to the US Census Bureau, the global elderly population is estimated to increase at a steady pace in the coming years, from 703 million in 2019 to 1.5 billion by 2050.
Restraint: Regulatory Challenges for securing approvals for medical applications of exoskeletons
Manufacturers skills and expertise pertaining to technical designing can matter during the testing of the product. The malfunctioning of a medical device can lead to life-threatening consequences, and hence, exoskeletons developed for healthcare applications need to be thoroughly examined. Currently, there are a few standards that are directly applicable to the exoskeleton industry. The FDA recognizes ISO standards that are applicable to relevant industries, and only products that receive regulatory approvals can be sold in the market. There have been many advancements in powered lower-limb exoskeletons, but users are experiencing a hard time navigating sloping or slippery surfaces. The prototypes cannot yet cope with twisting motions, so users making turns while carrying objects could tire out easily, resulting in adverse events, which can include skin and tissue damages and bone fractures. Thus, regulatory bodies have established a very tight approval process for such devices so that a wearers safety is not compromised due to the high-power output of actuators used in them.
Opportunity: Increasing insurance coverage for mobile medical exoskeletons in several countries
Assistive devices are an essential part of healthcare. In several countries, many rehabilitation centers use assistive devices provided by government organizations, special agencies, insurance companies, and charitable and non-governmental organizations.
Currently, coverage for the exoskeleton technology by insurance companies is low in several countries. However, companies are focusing on framing policies and entering into strategic collaborations and agreements with various public and private insurance providers for the reimbursement of medical exoskeleton devices. For instance, Ekso Bionics is approaching the Centers for Medicare and Medicaid Services and third-party insurers as they are expected to play an important role in the long-term commercial adoption of the Ekso GT device.
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North America accounted for the largest share of the global rigid medical exoskeleton market
Based on the region, the medical exoskeleton market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2020, North America is expected to dominate the market with a share of 44.4%. The growing geriatric population, increasing demand for self-assist exoskeletons, high prevalence of stroke, and growing number of spinal cord injuries (SCI) are the key factors driving the growth of the medical exoskeleton market in this region.
Medical exoskeleton Market, By Type
Powered Exoskeletons
Passive Exoskeletons
Medical exoskeleton Market, By Extremity
Upper Extremity Medical Exoskeletons
Lower Extremity Medical Exoskeletons
Full Body
Medical exoskeleton Market, By Mobility
Mobile Exoskeletons
Stationary Exoskeletons
Medical exoskeleton Market, By Structure
Rigid Exoskeletons
Soft Exoskeleton
Recent Developments
In 2021, CYBERDYNE received medical device approval from Thai Food and Medical Products Approval Authority (Thai FDA) for HAL Single Joint Type. The product is for patients with reduced mobility in the upper and lower limbs due to muscle weakness or paralysis.
In 2020, Ekso Bionics received 501(k) clearance from the US Food and Drug Administration (FDA) to market its EksoNR robotic exoskeleton for patients with acquired brain injury (ABI). EksoNR is the first exoskeleton device to receive FDA clearance for rehabilitation use with ABI, significantly expanding the device’s indication to a broader group of patients.
In 2019, ReWalk Robotics’ ReStore soft exo-suit system received clearance from the US Food and Drug Administration (FDA) for sale to rehabilitation centers across the United States
In 2018, Parker Hannifin announced the release of its next generation Indego Therapy device for use in rehabilitation centers which is rapidly adjustable and can be custom-sized and perfectly fitted to patients
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