Wearable Exoskeleton Market
Wearable Exoskeleton Market by Rigid Smart and Soft Smart for Industrial, Healthcare, and Military Use From 2024 to 2034
Analysis of Wearable Exoskeleton Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Wearable Exoskeleton Market Outlook (2024 to 2034)
Revenue from the global wearable exoskeleton market is estimated to reach US$ 480.3 million in 2024. The market is analyzed to rise at an exponential CAGR of 30.5% to reach US$ 6.88 billion by the end of 2034.
As muscle fatigue and disorder prevalence rates rise, key industries demand more physical comfort-enhancing solutions, prompting manufacturers to introduce new product lines. Collaborative research by the World Bank and the World Health Organization (WHO) estimates that over a billion people, or 15% of the world's population, are affected by one of the other types of disability.
The global burden of disease study projects that 13 million (0.7%) of children have an acute disability, out of 95 million (5.1%) who have a childhood disability prevalence. There are more patients worldwide, who are physically incapacitated due to a rise in the frequency of strokes, trauma from injuries, and an increase in traffic dangers. Of all of those, spinal cord injuries account for a significant number of victims between 250,000 and 500,000. Most result from avoidable incidents such as traffic accidents, violence, or falls.
Passive exoskeletons are suited for industrial applications as they are utilized to improve the physical strength of an able person to move big objects. Compared to powered devices, these exoskeletons are usually lighter and less expensive. Passive exoskeletons are becoming popular in the industrial sector as people are seeking to improve their physical strength and ability to move large objects.
Key Market Growth Drivers
- Due to ongoing wearable exoskeleton market trends, their demand remains sustained throughout the forecast period. Since almost nine out of ten injuries arise from traumatic wounds, prominent manufacturers are designing appropriate wearable exoskeletons that help reduce stress on the spinal cord.
- In 2018, researchers at the Universidad Miguel Hernandez in Elche, Spain, developed a robotic smart exoskeleton, which, when combined with a robotic wheelchair, helps disabled people to eat, drink, or wash.
- Exoskeletons for the upper extremities increase forces on an employee's arms and torso that are different from the forces required to move a weight. These are crucial human extenders, which increase human power so that large, heavy objects are handled.
- Throughout the projection period, there will be a rise in demand for upper extremities due to the rising frequency of accidental injuries. These exoskeletons serve as a replacement for lost hands or arms that are partially or fully amputated in an accident, thus responsible for the wearable exoskeleton market growth.
| Report Attribute | Detail |
|---|---|
| Wearable Exoskeleton Market Size (2024E) | US$ 480.3 Million |
| Forecasted Market Value (2034F) | US$ 6.88 Billion |
| Global Market Growth Rate (2024 to 2034) | 30.5% CAGR |
| East Asia Market Share (2024E) | 21.6% |
| United States Growth Rate (2024 to 2034) | 30% CAGR |
| Demand for Lower Extremity Exoskeletons (2024E) | US$ 227.2 Million |
| Key Companies Profiled | EksoBionics; Walkbot (P&S Mechanics Co. Ltd); Lockheed Martin Corporation; RB3D; Fourier Intelligence; AXOSUITS SRL; FREE Bionics Taiwan Inc.; Innophys Co., Ltd.; Medexo Robotics; ReWalkRobotics; Bionik, Inc.; Cyberdyne Inc.; Rex Bionics Ltd.; HocomaAG; Wearable Robotics S.r.L; Noonee; Technaid. |
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What Factors are Influencing Sales of Wearable Exoskeletons?
“Advancements in Robotics and Increased Funding for Exoskeleton Research Propelling Market Growth”
More than any other medical issue, back and neck pain is the primary focus of research and development efforts in the United States. To develop and commercialize robust exoskeletons for industrial applications, Ekso Bionics, a California-based company, has raised USD 34 million. To accelerate the Ekso robotic exoskeleton's worldwide acceptance, the business focuses on R&D activities for domestic settings. The aging population, robotic advancements, and rising funding for exoskeleton research are other factors driving the market expansion.
What is Hindering the Sales of Wearable Exoskeletons?
“Users Having Trouble Navigating Slick or Sloping Surfaces”
While powered lower-limb exoskeletons have made great strides, users are finding it difficult to maneuver on slick or sloped surfaces. As the prototypes are not yet capable of handling twisting motions, users turning while carrying goods become fatigued quickly, leading to unfavorable outcomes such as bone fractures and injury to skin and tissue. Since the actuators in these devices have a high power output, regulatory organizations have set in place a highly strict approval process to ensure that wearers' safety is not jeopardized.
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Country-wise Insights
The market in East Asia is analyzed to hold 21.6% of the global wearable exoskeleton market size in 2024. The exosuits wearable robot market is expanding at a rapid pace in the Asia-Pacific region. Growing investment in potentially high-growth countries, including India, Indonesia, and others is credited with the development.
For example, as a crucial component of the rehabilitation exosuit research project, the government in China is heavily funding in research on lower limb rehabilitation robots for patients with limb movement problems. One of the reasons driving up demand for exosuits and wearable robots in the area is China's growing elderly population.
What is Driving the Market for Wearable Exoskeletons in the United States?
“United States Military Looking into Potential Applications of Commercial Exoskeleton Technologies”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 84.5 Million |
| Growth Rate (2024 to 2034) | 30% CAGR |
| Projected Value (2034F) | US$ 1.16 Billion |
Credible increases in the smart exoskeleton market are anticipated in the United States, particularly in the military industry. To reduce strain injuries and increase soldier endurance, the military is investigating commercial exoskeleton technologies for possible uses in the sector. It has been demonstrated that wearable exoskeletons improve a warfighter's physical ability by enabling them to run faster and lift significantly larger objects without putting undue pressure on their joints.
2019 saw the start of a 48-month Other Transaction Agreement (OTA) valued at US$ 6.9 million by the United States Army Natick Soldier Research and Engineering Center (NSRDEC/Soldier Center) to develop exoskeleton systems. The OnyxTM Missiles and Fire Controls lower-body exoskeleton suit was created by Lockheed Martin Corporation in 2018. ONYX is a powered, lower-body exoskeleton with artificial intelligence (AI) technology that augments human strength and endurance.
What is the Sales Outlook for Wearable Exoskeletons in China?
“China Providing Significant Support for Development of Robots for Lower Limb Rehabilitation in Patients with Limb Movement Issues”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 48.1 Million |
| Growth Rate (2024 to 2034) | 31.5% CAGR |
| Projected Value (2034F) | US$ 744.8 Million |
As a crucial component of the rehabilitation exosuit research project, the government in China is heavily funding research on lower limb rehabilitation robots for patients with limb mobility problems. One of the reasons driving up demand for exosuits and wearable robots in the country is its elderly population. The Chinese Journal of Mechanical Engineering projects that by 2030, 18.2% of China's population will be over 65 making wearable robots and exosuits more in demand.
Category-wise Insights
The market for wearable exoskeletons is categorized into lower, upper, and full-body in terms of extremity. The lower extremity exoskeleton category is analyzed to account for 47.3% in 2024. By product, the market is segmented into rigid and soft smart, of which the former is estimated to account for 60.1% market share in 2024.
Which Product is Highly Used in the Market for Wearable Exoskeletons?
“Rigid Smart Exoskeletons Continuously Needed by Military and Industrial Sectors to Increase Worker Strength and Endurance”
| Attribute | Rigid Smart Exoskeletons |
|---|---|
| Segment Value (2024E) | US$ 288.7 Million |
| Growth Rate (2024 to 2034) | 30.5% CAGR |
| Projected Value (2034F) | US$ 4.15 Billion |
Rigid exoskeletons are projected to account for 60.3% of the wearable exoskeletons market share by the end of the assessment period in 2034. The military and industrial sectors' continuous need for exoskeletons to improve the strength and endurance of workers and soldiers is responsible for the segment's substantial share.
Why Lower Extremity Exoskeletons Are Demanded More Globally?
“Patients with Neuromuscular Impairments in Lower Limbs Putting Pressure on Clinicians to Provide More Long-Lasting Mobility Options”
| Attribute | Lower Extremity Exoskeletons |
|---|---|
| Segment Value (2024E) | US$ 227.2 Million |
| Growth Rate (2024 to 2034) | 16.8% CAGR |
| Projected Value (2034F) | US$ 1.07 Billion |
Concerning extremities, wearable exoskeletons for the lower extremities are becoming increasingly popular due to the development of powered exoskeletons for the lower limb. Growing numbers of patients with neuromuscular deficits in the lower limbs are driving demand for more durable mobility solutions from clinicians.
The quality of life is often negatively impacted by the growing number of neurological conditions, including strokes and spinal cord injuries (SCIs). So one of the main goals of rehabilitation is to be able to walk again.
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Competition Analysis
Key players in the wearable exoskeletons industry are spending on R&D activities for launching new products to get a competitive edge. In addition, collaborations, mergers & acquisitions, and regulatory approvals are some other vital components contributing to market expansion.
- ReWalk Robotics and BKK Mobil Oil Insurance inked a contract in March 2021 for ReWalk Robotics to supply its ReWalk Personal Exoskeleton devices to qualified individuals with spinal cord injuries. Users who fulfil this agreement will keep their mobility at home with a ReWalk Personal 6.0 exoskeleton.
- To jointly develop robotic technologies and rehabilitation technology, the National Healthcare Group (NHG) in Singapore and Shanghai-based Fourier Intelligence signed a memorandum of understanding in 2021. This alliance aims to provide patients with more effective rehabilitation therapy by leveraging clinical experience and translational research skills.
Fact.MR provides detailed information about the price points of the leading providers of wearable exoskeletons positioned across the world, sales growth, production capacity, and speculative technological expansion, in this updated market report.
Segmentation of Wearable Exoskeleton Market Research
-
By Product :
- Rigid Smart Exoskeletons
- Soft Smart Exoskeletons
-
By Extremity :
- Lower Extremity Exoskeletons
- Upper Extremity Exoskeletons
- Full-body Extremity Exoskeletons
-
By Application :
- Rehabilitation
- Pick & Carry
-
By End User :
- Industrial Use
- Healthcare
- Military
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Product
- 6.2. Extremity
- 6.3. Application
- 6.4. End User
- 7. Global Market Analysis and Forecast, By Product
- 7.1. Rigid Smart
- 7.2. Soft Smart
- 8. Global Market Analysis and Forecast, By Extremity
- 8.1. Lower
- 8.2. Upper
- 8.3. Full-body
- 9. Global Market Analysis and Forecast, By Application
- 9.1. Rehabilitation
- 9.2. Pick
- 9.3. Carry
- 10. Global Market Analysis and Forecast, By End User
- 10.1. Industrial
- 10.2. Healthcare
- 10.3. Military
- 11. Global Market Analysis and Forecast, By Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Western Europe
- 11.4. Eastern Europe
- 11.5. Asia Pacific
- 11.6. East Asia
- 11.7. MEA
- 12. North America Sales Analysis and Forecast, by Key Segments and Countries
- 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 14. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 15. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 16. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 17. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 18. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 19. Sales Forecast by Product, Extremity, Application, and End User for 30 Countries
- 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 21. Company Profile
- 21.1. ReWalkRobotics
- 21.2. Bionik, Inc.
- 21.3. Cyberdyne Inc.
- 21.4. Rex Bionics Ltd.
- 21.5. HocomaAG
- 21.6. Wearable Robotics S.r.L
- 21.7. Fourier Intelligence
- 21.8. AXOSUITS SRL
- 21.9. FREE Bionics Taiwan Inc.
- 21.10. Innophys Co., Ltd.
- 21.11. Medexo Robotics
- 21.12. Noonee
- 21.13. Technaid
- 21.14. Walkbot (P&S Mechanics Co. Ltd)
- 21.15. Lockheed Martin Corporation
- 21.16. RB3D
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List Of Table
Table 01: Global Market US$ Mn Forecast by Region
Table 02: Global Market US$ Mn Forecast by Product
Table 03: Global Market US$ Mn Forecast by Extremity
Table 04: Global Market US$ Mn Forecast by Application
Table 05: Global Market US$ Mn Forecast by End User
Table 06: North America Market US$ Mn Forecast by Country
Table 07: North America Market US$ Mn Forecast by Product
Table 08: North America Market US$ Mn Forecast by Extremity
Table 09: North America Market US$ Mn Forecast by Application
Table 10: North America Market US$ Mn Forecast by End User
Table 11: Latin America Market US$ Mn Forecast by Country
Table 12: Latin America Market US$ Mn Forecast by Product
Table 13: Latin America Market US$ Mn Forecast by Extremity
Table 14: Latin America Market US$ Mn Forecast by Application
Table 15: Latin America Market US$ Mn Forecast by End User
Table 16: Western Europe Market US$ Mn Forecast by Country
Table 17: Western Europe Market US$ Mn Forecast by Product
Table 18: Western Europe Market US$ Mn Forecast by Extremity
Table 19: Western Europe Market US$ Mn Forecast by Application
Table 20: Western Europe Market US$ Mn Forecast by End User
Table 21: Eastern Europe Market US$ Mn Forecast by Country
Table 22: Eastern Europe Market US$ Mn Forecast by Product
Table 23: Eastern Europe Market US$ Mn Forecast by Extremity
Table 24: Eastern Europe Market US$ Mn Forecast by Application
Table 25: Eastern Europe Market US$ Mn Forecast by End User
Table 26: Asia Pacific Market US$ Mn Forecast by Country
Table 27: Asia Pacific Market US$ Mn Forecast by Product
Table 28: Asia Pacific Market US$ Mn Forecast by Extremity
Table 29: Asia Pacific Market US$ Mn Forecast by Application
Table 30: Asia Pacific Market US$ Mn Forecast by End User
Table 31: East Asia Market US$ Mn Forecast by Country
Table 32: East Asia Market US$ Mn Forecast by Product
Table 33: East Asia Market US$ Mn Forecast by Extremity
Table 34: East Asia Market US$ Mn Forecast by Application
Table 35: East Asia Market US$ Mn Forecast by End User
Table 36: MEA Market US$ Mn Forecast by Country
Table 37: MEA Market US$ Mn Forecast by Product
Table 38: MEA Market US$ Mn Forecast by Extremity
Table 39: MEA Market US$ Mn Forecast by Application
Table 40: MEA Market US$ Mn Forecast by End User
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List Of Figures
Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product
Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Extremity
Figure 03: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 04: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 05: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 06: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product
Figure 07: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Extremity
Figure 08: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 09: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 10: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Extremity
Figure 13: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 14: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 15: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product
Figure 17: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Extremity
Figure 18: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 19: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 20: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product
Figure 22: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Extremity
Figure 23: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 24: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 25: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 26: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product
Figure 27: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Extremity
Figure 28: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 29: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 30: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 31: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product
Figure 32: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Extremity
Figure 33: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 34: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 35: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 36: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product
Figure 37: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Extremity
Figure 38: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 39: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End User
Figure 40: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How big is the market size of wearable exoskeletons in 2024?
The global market for wearable exoskeletons is estimated at US$ 480.3 million in 2024.
What is the projected sales revenue from wearable exoskeletons by the end of 2034?
Worldwide sales of wearable exoskeletons are forecasted to reach US$ 6.88 billion by the end of 2034.
What is the demand growth outlook for wearable exoskeletons?
Demand for wearable exoskeletons is analyzed to increase at a CAGR of 30.5% from 2024 to 2034.
What is the projected demand value of wearable exoskeletons in the United States in 2024?
The market in the United States is estimated to reach US$ 84.5 million in 2024.
What is the market value for wearable exoskeletons in Japan?
The market in Japan is forecasted to reach US$ 25.8 million in 2024.
Which product of wearable exoskeletons is generating more revenue?
Sales from rigid smart exoskeletons are analyzed to reach US$ 4.15 billion by 2034.
Who are the leading market players of wearable exoskeletons?
Lockheed Martin Corporation, RB3D, Fourier Intelligence, and AXOSUITS SRL are some of the key players in the market.
Wearable Exoskeleton Market