Exoskeleton Market Growth Accelerated By Elderly Care Applications

 
Exoskeleton Market 


Exoskeletons are robotic wearable suits that are powered electrically or pneumatically to support and amplify human strength and endurance. They are used to enhance mobility and aid rehabilitation in elderly and physically disabled individuals. Powered exoskeletons for lower and upper limbs enable independent walking, improve quality of life, and reduce dependency on caregivers. The global exoskeleton market is estimated to be valued at US$ 0.81 Bn in 2024 and is expected to exhibit a CAGR of 38.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing elderly population globally is one of the key factors driving the demand for exoskeletons used in elderly care applications. It is estimated that over the next 30 years, the number of people aged 60 and older will double to around 2 billion. With age, the risk of mobility issues, disabilities, and dependence increases substantially. Powered exoskeletons can help the elderly population preserve their independence and carry out daily tasks without assistance. This factor is expected to fuel the uptake of exoskeletons among elderly care facilities and hospitals over the forecast period.

Segment Analysis
The global exoskeleton market analysis is dominated by medical exoskeleton sub-segment, which accounted for around 60% share in 2020. This is because medical exoskeleton devices help paralyzed and elderly patients to walk again, thereby experiencing high demand across hospitals and rehabilitation centers. Various types of medical exoskeletons available are for lower limbs, upper limbs and full body. Among these, lower limb exoskeletons generated the highest revenue owing to the high prevalence of spinal cord injuries resulting in leg paralysis.

Key Takeaways
The global exoskeleton market is expected to witness high growth over the forecast period from 2024 to 2031.

The regional analysis shows that North America currently dominates the market due to presence of major manufacturers and higher healthcare spending. Europe and Asia Pacific are fastest growing regions due to increasing investments by governments as well as technological advancements.

Key players operating in the exoskeleton market are Lockheed Martin Corporation, RRB3D, Ekso Bionics, suitX, ReWalk Robotics Ltd., Hocoma, Rex Bionics PLC., ActiveLink (Panasonic Corporation), Cyberdyne, Inc.. Lockheed Martin Corporation currently dominates the market due to its extensive product portfolio for military exoskeletons. Ekso bionics also has a significant share for medical exoskeleton devices.

Get more insights on this topic: https://www.ukwebwire.com/exoskeleton-market-industry-insights-trends-exoskeleton-market/

 

Explore more information on this topic, Please visit: https://ceocolumn.com/health/bisphenol-a-odyssey-navigating-the-controversial-waters-of-this-ubiquitous-chemical-compound/

Comments

Post a Comment

Popular posts from this blog

The Global Coffee Market Growth Accelerated By Demand From Millennials And Gen Z Population

Image
  Coffee Market  Coffee is a popular beverage consumed worldwide for its stimulant properties and unique flavor. Coffee beans contain caffeine that stimulates the central nervous system and increases energy levels. Major products in the coffee market include whole coffee beans, ground coffee, coffee pods, instant coffee, and canned or bottled coffee. Coffee promotes mental clarity and alertness and offers antioxidant and anti-inflammatory benefits. The global coffee market is estimated to be valued at US$ 132.99 billion in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing demand for coffee from the millennial and Gen Z population is one of the key trends driving the growth of the global coffee market. Millennials and Gen Z are the primary consumers and account for over 50% of total coffee consumption globally. These younger demographics v...
Read more

The Global Ammonium Nitrate Market Growth Accelerated By Rising Demand From Agriculture Industry

Image
Ammonium Nitrate Market   Ammonium nitrate is an extensively used fertilizer, which is inexpensive and highly effective. It contains nitrogen, a major nutrient needed for plant growth and development. It provides plants with a continuous and balanced supply of nitrogen which helps in increasing crop yields. The ammonium nitrate market is driven by the growing agriculture sector across the globe. The increasing global population has accelerated the demand for food, resulting in high usage of for boosting agricultural production. The global ammonium nitrate market is estimated to be valued at US$ 21.18 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing demand from agriculture is one of the major trends fueling the growth of the ammonium nitrate market. Agriculture accounts for over 80% of the ammonium nitrate consumption globally....
Read more

The Global Biopharmaceuticals Market Growth Accelerated By Innovation In Product Development

Image
  Biopharmaceuticals Market  Biopharmaceuticals including monoclonal antibodies, vaccines, stem cell and gene therapy have significantly improved the treatment of various life-threatening diseases like cancer, infectious diseases and rare genetic disorders. These biologics are developed in living systems and are highly complex entities. The global Biopharmaceuticals Market is estimated to be valued at US$ 397.24 Bn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends driving the growth of the biopharmaceuticals market is the continuous innovation in the development of novel products. Biopharmaceutical companies are extensively investing in research and development to come up with more effective and targeted treatment solutions. They are leveraging advanced technologies like gene therapy and cellular therapies to develop next-g...
Read more