Global Robotic Exoskeleton Market - Increasing Penetration of Neurological Diseases Drives Growth| Technavio
Technavio has published a new market research report on the global robotic exoskeleton market from 2018-2022. (Graphic: Business Wire)
The report segments the global robotic exoskeleton market by application (medical care, military, and industrial), by product (lower limb, upper limb, and full body exoskeletons), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global robotic exoskeleton market, according to Technavio industrial automation researchers:
- Increasing penetration of neurological diseases: a major market driver
- Advances in technology: emerging market trend
- The Americas dominated the global robotic exoskeleton market with more than 43% share in 2017
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Increasing penetration of neurological diseases: a major market driver
The increasing penetration of neurological diseases is one of the major factors driving the global robotic exoskeleton market. The individuals suffering from diseases such as spinal cord injuries, traumatic brain injuries, stroke, multiple sclerosis, Parkinson’s disease, and cerebral palsy have limited mobility. Approximately 15 million people worldwide suffer from brain strokes each year. The second biggest cause of disability after dementia are strokes that are responsible for the death of many people beyond 60 years of age.
According to a senior analyst at Technavio for research on robotics, “The use of robotic exoskeletons for the treatment of spinal cord injuries, traumatic brain injuries, stroke, multiple sclerosis, Parkinson’s disease, and cerebral palsy in rehabilitation centers in the US, Europe, and Japan has increased substantially. The increasing penetration of neurological diseases is expected to promote the growth of the global robotic exoskeleton market during the forecast period.”
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Advances in technology: emerging market trend
The advances in material technologies, software, control systems and sensors, and developments in electrical and electronics engineering have led to the development of advanced exoskeletons. The ultra-low-power exoskeleton technology has resulted in the development of robotic suits, which allow anthropomorphic movement and eradicate the requirement for external power to operate the robot. To complement the human power output, exoskeletons are fortified with lithium-ion batteries, which help in mechanical assistance. The high processing power of the electronic components has led to an easy connection between the machine and the human with a control system.
Global market opportunities
The global robotic exoskeleton market was led by the Americas in 2017 that accounted for a share of more than 43%. This region is anticipated to continue to dominate the global robotic exoskeleton market during the forecast period. APAC will witness the highest growth in the market followed by the Americas and EMEA during the forecast period. This is because of the rising disposable income, advances in the healthcare sector by the government, and growing industrial investment in APAC.
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