Unlocking Potential: Exploring the Exoskeletons Market and its Applications

The global exoskeleton market size is estimated to be USD 0.7 billion in 2023 and is projected to reach USD 3.7 billion by 2028, at a CAGR of 38.6%. The growing adoption of robotic rehabilitation in healthcare and rising investment in the advancement of the exoskeleton are responsible for the growth of the exoskeleton market. Additionally, the rising insurance coverage for exoskeleton technology is also responsible for the markets growth.

The software segment is expected to exhibit the highest growth rate during the forecast period, offering a range of 3D CAD software packages for designing exoskeletons.

Passive exoskeletons are projected to have the second-largest compound annual growth rate (CAGR) due to their simpler structures, lower production costs, and reliance on wearers' strength.

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Europe is anticipated to hold the second-largest market share in the exoskeleton market, driven by disruptive effects on non-manufacturing industries, strong interdisciplinary research, and the demand for intelligent sensors.

Exoskeletons are being used in a wide range of businesses and sectors thanks to their amazing potential. Exoskeleton technology has been incorporated into a wide range of industries, from manufacturing and logistics to healthcare and rehabilitation, because to its adaptability and versatility. Exoskeletons are used for mobility support in the healthcare sector, allowing people with mobility impairments to restore their independence and carry out daily tasks with ease. Patients with spinal cord injuries, neurological conditions, or physical limitations benefit from the support, stability, and increased mobility that these wearable devices offer, which improves their quality of life.

Key players in the exoskeleton market include CYBERDYNE INC., Lockheed Martin Corporation, Ottobock, Ekso Bionics, DIH Medical, Sarcos Technology and Robotics Corporation, BIONIK, and B-Temia.

The competitive analysis encompasses company profiles, recent developments, and key market strategies of the major players in the exoskeleton market.

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