Increase in cases of physical disorders and high healthcare expenditure is expected to drive the demand for United States smart exoskeleton market for the forecast period.
According to TechSci Research report, “United States Smart Exoskeleton Market By Component (Sensors, Actuators, Power Source, Control System, Others) By Type (Soft Exoskeleton v/s Rigid Exoskeleton) By Product Type (Active v/s Passive) By Body Part (Upper body, Lower body, Full body) By Application (Healthcare, Military, Industrial, Others) By Company, By Region, Forecast & Opportunities, 2026”, United States smart exoskeleton market is expected to witness significant growth for the next five years. Smart exoskeleton is a wearable device which is used to provide external support to restore the performance of the wearer. Smart exoskeletons are worn outside the body and consists of sensors and actuators coupled with robotic software. It is used to provide assistance while walking and improve the athletic performance to help the patient walk again. Smart exoskeletons are in high demand form people suffering from cardiovascular disorders and physically challenging situations. Growing old age population requires the external support for walking properly and adoption of smart exoskeleton is expected to prevent elder people from falling and to gain stability. Functional disability and occurrence of stroke affect the walking capability of patients and requires the external support of smart exoskeletons for gait rehabilitation. High cost and requirement to adjust according to body needs is expected to create hindrance in the smart exoskeletons market growth.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected countries adversely. Leading authorities in United States imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing. United States authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. Manufacturing units were shutdown and companies faced shortage of workface which impacted the market growth adversely. However, after the government lifted the restriction restrictions, smart exoskeletons manufacturing companies started the production with less production volume. Also, manufacturers engaged in increasing the availability of industrial smart exoskeleton to essential industries comprising of healthcare, pharmaceuticals, among others which is expected to produce alternate revenue source for this period.
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United States smart exoskeleton market is segmented into component, type, product type, body part, application, regional distribution, and company. Based on type, market is further bifurcated into soft exoskeleton and rigid exoskeleton. The soft exoskeleton segment is expected to dominate the market for the forecast period, 2022-2026 as soft exoskeleton is made up of carbon fiber which is light weight in nature and enhances the wearer movement. Based on body part, smart exoskeleton market is majorly categorized into upper body, lower body, and full body. The upper body segment is anticipated to hold major market share for the next five years owing to its usage for treatment of stroke and cerebral palsy patients. It is also used in rehabilitation of upper limb amputees. Based on application, market is fragmented into healthcare, military, industrial and others. The military segment is expected to witness growth for the predicted period due to introduction of devices which support physical activities such as squatting, kneeling, lifting, climbing and carrying heavy loads. Smart exoskeletons allow the soldiers to take carry extra gears while climbing or walking on difficult terrains.
Ekso Bionics Holdings Inc., ReWalk Robotics, Inc., Sarcos Corp., U.S. Bionics, Inc., Otto Bock USA, Lockheed Martin Corporation, Raytheon Company, Parker Hannifin Corporation, American Honda Motor Company, Inc., Myomo, Inc. are the leading players operating in United States smart exoskeleton market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several smart exoskeleton manufacturers are coming up with their technologically advanced offerings.
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“Manufacturers are investing huge amounts for research and development activities for technological advancements of smart exoskeletons and upgradation of the existing infrastructure. Adoption of advanced technologies such as robotics, artificial intelligence and use of material sciences concept to make mobility assistance tools more effective, compact and lightweight in nature which further aids in easier wearer’s movement and convenience is expected to propel the growth of the smart exoskeleton market until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Smart Exoskeleton Market By Component (Sensors, Actuators, Power Source, Control System, Others) By Type (Soft Exoskeleton v/s Rigid Exoskeleton) By Product Type (Active v/s Passive) By Body Part (Upper body, Lower body, Full body) By Application (Healthcare, Military, Industrial, Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of United States smart exoskeleton market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of United States smart exoskeleton market.
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