Global Exoskeleton Industry, 2027 - Introduction of New Composite Materials for Better Performance
DUBLIN, May 11, 2020 /PRNewswire/ -- The "Exoskeleton Market by Product Type (Soft and Rigid), Power Type (Powered and Passive), Body Type (Complete Body, Upper and Lower Extremities), Mobility (Stationary and Mobile), and End-Use Industry (Industrial, Military, Healthcare) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
According to this market research report, the exoskeleton market is expected to grow at a CAGR of 48.4% from 2019 to reach $11.4 billion by 2027.
The growth in this market is mainly attributed to the factors such as growing demand from the healthcare sector for orthopaedic rehabilitation, growing investment by military & defense sector in exoskeletons, and increasing prevalence of strokes. In addition, the replacement of conventional prosthetics with exoskeleton technology and increasing adoption of human augmentation in industrial and other end-use sectors provides significant opportunities for the exoskeleton market players.
Geographically, North America commanded the largest share of the global exoskeleton market in 2019. The large share of this region is mainly due to the well-established infrastructure for technology & education in the region and a higher adoption rate for advanced technologies. Furthermore, the factors such as growing geriatric population; advent of robotic technologies; growing purchasing power of patients and increased investment towards exoskeleton technology; and the presence of majority of established exoskeleton players and start-ups have bolstered the market growth in the North American region. However, Asia Pacific region will experience the highest growth rate during the forecast period.
Scope of the Report
Market by Power Type
Market by Body Type
Market by End-use Industry
Market by Mobility
Market by Geography
For more information about this report visit https://www.researchandmarkets.com/r/qjxeiz
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