Exoskeleton Market Size, Share & Trends Analysis Report By Mobility (Mobile, Fixed), By Technology (Powered, Non-powered), By Extremity, By End-use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global exoskeleton market size was valued at USD 257.9 million in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 18.0% from 2022 to 2030. In terms of volume, the market volume was 8,741 units is projected to expand at a CAGR of 11.0% from 2022 to 2030. The rapidly growing global geriatric population, rising adoption rates of medical devices in different industries such as automobile, military, defense, and construction, and rising incidence of stroke are some of the key driving forces responsible for the growth of the market. Furthermore, the growing incidence rate of Spinal Cord Injuries (SCI) is expected to drive the demand across global markets. As per National Spinal Cord Injury Statistical Center (NSCISC) estimates in 2021, the number of SCI cases in 2019, 2020, and 2021 were 17,730, 17,810, and 10,9000, respectively. Moreover, approximately 296,000 Americans suffer from some form of SCIs.

Exoskeleton solutions are being widely adopted across industries to support employee health and boost productivity. The growing demand has led to the emergence of several startups expertizing in exoskeleton technology and providing solutions for rehabilitation. Furthermore, the constantly evolving exoskeleton industry is driving market players to devise innovative product development strategies to boost the adoption rate over the forthcoming years. For instance, in June 2021, suitX launched shieldX which is used by health workers wearing heavy anti-radiation aprons who are prone to suffering from neck & back problems. Similarly, in May 2021, Roam Robotics announced the launch of Ascend, which is a robotic partial knee orthosis used by wearers to reduce knee pain and regain mobility.

Some of the most common musculoskeletal injuries and disorders affecting the construction industry are Occupational Overuse Syndrome (OOS), Cumulative Trauma Disorders (CTD), and Repetitive Strain Injury (RSI). As per the WHO, data estimates published in February 2021, approximately 1.71 billion individuals across the globe suffer from musculoskeletal disorders. According to Health and Safety Executive (HSE) data estimates in November 2020, approximately 480,000 workers in Great Britain suffer from occupation-related musculoskeletal disorders across several industries. These are some of the driving forces boosting the adoption of exoskeleton solutions owing to the benefits associated with exoskeleton technology such as augmenting or assisting users’ physical activity or capability, improving users’ health and productivity, and reducing fatigue experienced by industrial workers.

COVID19 Exoskeleton market impact: 18.3% increase in terms of revenue and 11.9% in terms of volume from 2020 to 2021

However, the growth and development of the market for exoskeleton are restrained by limited technological advancements and low per capita income in emerging economies and under-developed countries. Companies in under-developed nations face several challenges in the form of lack of funding and the lack of accessibility to these novel technologies for the patients. For instance, the lack of adequate healthcare services in emerging economies has restricted access to rehabilitation therapies for disabled communities. Furthermore, these developing countries heavily depend on medical device imports, which makes these devices more expensive and restricts access, thereby challenging the development and growth of the market for exoskeletons.

The ongoing Covid-19 pandemic had an adverse impact on the global economy, disrupted supply & demand chains, increased unemployment, and led to overall economic uncertainty. As per Ekso Bionics’ 2020 annual report, it stated an overall decrease of 36.0% in revenue earning in FY2020 as compared to FY2019 owing to the significant decline in sales of medical devices. Furthermore, the annual report states that the demand for exoskeleton products dramatically dwindled down by 38.0% during the onset of the pandemic leading to a booking of 61 units in 2020 as compared to 98 units in 2019.

Mobility Insights

In 2021, the mobile segment dominated the market for exoskeleton and accounted for the largest revenue share of 60.7% and largest volume share of 61.7%. The mobile segment is anticipated to register the fastest growth rate over the forthcoming years. This significant market share and lucrative growth rate is attributable to the surge in demand for motor-equipped robots for aiding human body mechanics and rise in research and development activities. Moreover, the availability of favorable reimbursement policies promoting the adoption of exoskeleton technologies in emerging economies and developing nations is directly contributing to the development and growth of the segment.

Furthermore, key participants are constantly introducing innovative solutions for various industries which support worker/user’s health, boost productivity, reduce fatigue, and minimize risks of serious injuries. The growth witnessed by stationary exoskeleton technologies is due to the growing usage of stationary system in rehabilitation centers. The fixed segment is expected to account for significant CAGR over the forecast period. This growth is attributed to rising demand for stationary exoskeletons to support and automate treadmill training.

Technology Insights

In 2021, the powered technology segment dominated the market for exoskeleton and accounted for the largest revenue share of 74.7% and volume share of 67.6% owing to the rising implementation of powered exoskeleton solutions in several industries to enhance personal safety and boost productivity. Furthermore, the benefits associated with powered technology products are smoother lifting motion, reduced strain on worker’s body, increased strength, force multiplier, enhanced productivity.

However, non-powered or passive technology segment is anticipated to register the fastest growth rate over the forthcoming years owing to the growing number of innovative product launches. For instance, in December 2020, Hilti partnered with Ottobock SE to launch EXO-O1, a passive exoskeleton used by the construction industry. In this passive exoskeleton, the weight of the arms using mechanical cables is transferred to the hips without the use of an energy source. As per Ottoback research studies, EXO-O1 reduces lower peak stress on muscles and shoulders by 47%.

Extremity Insights

In 2021, the lower body segment dominated the market for exoskeleton and accounted for the largest revenue share 43.3% and volume share of 53.5% owing to the alarming rise of lower body disabilities and growing adoption rates of exoskeleton products by paralyzed and geriatric population for stability, mobility, and weight-bearing capabilities. Moreover, these lower body solutions are widely used by military and defense personnel for assisting soldiers or enhancing soldiers’ speed and coverage.

However, the upper body segment is anticipated to register the fastest growth rate over the forthcoming years owing to the benefits provided by exoskeleton products in upper extremities such as supporting disabled communities and rehabilitation aid in post-stroke, neurological, or musculoskeletal impairments. For instance, in July 2019, Ekso Bionics Holding Inc launched EksoUE, used to provide rehabilitation aid for upper extremities.

End-use Insights

In 2021, the healthcare segment dominated the market for exoskeleton and accounted for the largest revenue share of 51.3% and volume share of 51.8% owing to the rising incidence rate of Spinal Cord Injuries (SCIs), widespread adoption of these products and solutions in rehabilitation centers, and significant surge in treatment numbers are some of the key driving factors. Moreover, growing number of regulatory approvals and rising awareness towards technologically advanced systems arethe factors driving the demand and adoption rate of exoskeleton products in the healthcare industry.For instance, in April 2016, Ekso Bionics received U.S. FDA approval for clinical use of Ekso GT Robotic which was widely used in rehabilitation centers in treating patients with spinal cord injuries and hemiplegia.

On the other hand, the industry segment is anticipated to register the fastest growth over the forthcoming years owing to the rising awareness levels towards the benefits associated with exoskeleton technologies in several industry applications and rapidly growing incidence rate of occupation-related injuries. Furthermore, the surge in demand for novel technologies and growing adoption of the same in multiple sectors such as construction, manufacturing, and distribution is expected to accelerate growth of the industry segment.

Regional Insights

In 2021, North America dominated the market for exoskeleton and accounted for the largest revenue share of 47.0% and volume share of 28.4% owing to the growing prevalence of disabled individuals, rising expenditure on research activities, growing public and private support, increasing number of partnerships & collaborations amongst key participants, and availability of technologically advanced products. According to CDC data estimates, approximately 61 million individuals suffer from some kind of disability in the U.S. and amongst the total disabled population 13.7% of the population suffers from mobility disabilities. Moreover, the rapidly growing geriatric population, rising disposable income, availability of public & private investors, widespread presence of key market players, and growing human augmentation in industry and military verticals is driving the growth.

For instance, in September 2020, Sarcos raised a funding of USD 40 million in Series C round led by Rotor Capital and will utilize this funding to expand commercial production levels of Guardian XO product. On the other hand, Asia Pacific is anticipated to register the fastest growth rate over the forthcoming years owing to growing patient pool requiring rehabilitation support. Developing & advancing healthcare infrastructure, availability of government support and funding are driving the development and growth of the market for exoskeleton in Asia Pacific. Constant economic development in emerging economies such as China, Japan, and India coupled with favorable public and private support is expected to bolster the development and growth.

Key Companes & Market Share Insights

The key participants are constantly focusing on devising innovative product development strategies and receiving timely product approvals from regulatory authorities to expand their business footprint and grow their product portfolio. For instance, in June 2020, Ekso Bionics received U.S. FDA approval for clinical use of EksoNR robotic exoskeleton which is used in patients suffering from Acquired Brain Injury (ABI). Growing number of technological collaborations, partnerships, geographic expansion, and mergers and acquisitions is anticipated to accelerate market growth over the forthcoming years. Some of the prominent players in the market include:

• Ekso Bionics

• Hocoma

• Lockheed Martin Corporation

• Suit X (U.S. Bionics, Inc.)

• Rex Bionics Plc.

• RB3D

• ReWalk Robotics Ltd

• Cyberdyne, Inc.

• ActiveLink (Panasonic Corporation)

Exoskeleton Market Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2030. For the purpose of this study, Grand View Research, Inc. has segmented the global exoskeleton market report on the basis of mobility, technology, extremity, end use, and region:

• Mobility Outlook (Volume, Units; Revenue, USD Million, 2016 - 2030)

  • Mobile

  • Fixed/Stationary

• Technology Outlook (Volume, Units; Revenue, USD Million, 2016 - 2030)

  • Powered

  • Non-powered

•  Extremity Outlook (Volume, Units; Revenue, USD Million, 2016 - 2030)

  • Upper Body

  • Lower Body

  • Full Body

•  End-use Outlook (Volume, Units; Revenue, USD Million, 2016 - 2030)

  • Healthcare

  • Military

  • Industry

•  Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • Spain

    • Italy

    • France

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Singapore

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE