Rise in Demand for Self-Supporting Exoskeleton Expected to Drive North America Healthcare Exoskeletons Market: Ken Research
The exoskeletons that are being used in healthcare are also known as a wearable robot, it is a robotic machine suite which worn by humans as substitute to the limbs for complementing, and enhancing the human functions. It also helps in the physical movements being offered by the increased strength and endurance activities. The healthcare exoskeletons may further be used in restoring the locomotion and improvement in the physical activity thereby increasing the standing and walking time for patients with muscular affected by the impairments. It is further benefited to patients with paraplegia and paralysis thereby improving in their endurance, bowel, and bladder control, bone density and reducing the overall chances of developing the urinary tract infections. Additionally, it also improves cardiovascular and metabolic functions of the body and also assist in better circulation, the increased oxygen intake, and improvement in the sitting posture.
According to study, “North America Healthcare Exoskeletons Market by Application, Mobility Type, Product Function, Power Technology, and Country 2018-2023: Growth Opportunity and Business Strategy” the key companies operating in the North-America Healthcare exoskeleton market are AlterG, Inc., Honda Motor Co., Ltd., Bionik Laboratories Corp., Hocoma, Cyberdyne, Inc., Panasonic Corporation (Activelink), Ekso Bionics, ReWalk Robotics Ltd., Myomo, U.S. Bionics, Inc. (suitX), Parker Hannifin Corporation, Rex Bionics Plc. The manufacturers are also focusing on adding upgrading the advanced hardware into the overall design for enhancing the capability of healthcare exoskeletons as making them smarter and interactive.
Based on type, North-America Healthcare exoskeleton market is bifurcated into passive healthcare exoskeleton and powered healthcare exoskeleton. Based on component type, market is bifurcated into hardware (power sources, sensors, control system, actuators and other hardware components) and software. Based on mobility, market is bifurcated into mobile healthcare exoskeleton and stationary healthcare exoskeleton. Mobile healthcare segment is expected to witness significantly higher CAGR owing to high demand for compact, light-weight mobile healthcare exoskeletons offering mobility assistance to paralyzed patients during the forecast period. Based on extremity, market is bifurcated into upper extremity healthcare exoskeleton and lower extremity healthcare exoskeleton. The lower extremity based healthcare exoskeleton are widely used in the rehabilitation of lower body parts such as providing mobility and also helping in sustaining the overall body weight boosting the customer preference. Based on application, market is segmented into spinal cord injury, cerebral palsy, multiple sclerosis, stroke and others. In addition, based on end-user, market is segmented into physiotherapy centers, rehabilitation centers, physiotherapy centers, and others.
The North-America Healthcare exoskeleton market is driven by growth in elderly population, followed by increase in stroke rates, rise in demand for self-supporting exoskeleton, increase in spinal cord injury (SCI) and rise in awareness & favorable government support. However, the high cost of the healthcare exoskeleton may impact the market.
It is estimated that future of the North-America Healthcare exoskeleton market will be bright as a result of presence of advanced healthcare facilities, high demand for self-assistive healthcare exoskeletons and increase in incidences of physical disabilities during the forecast period. It is expected that the market will be reached slightly above US $ 400 million by 2023 owing to growth in adoption of all types of exoskeletons in the region.
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Ankur Gupta, Head Marketing & Communications