Wearable Robotic Exoskeleton Market

Global Wearable Robotic Exoskeleton Market Size (2024 to 2029)

The global wearable robotic exoskeleton market was worth USD 1058.33 million in 2024. The market value is further estimated to be growing at a CAGR of 39.48% from 2024 to 2029 and worth USD 7792.73 million by 2029 from USD 1476.16 million in 2024.

Wearable robotic exoskeletons are used to help recover patients who need physical therapies. In addition, these devices help patients overcome motor disabilities and can help support everyday functions in such patients. They are vital devices for gait therapy and recovery from various disabilities. These devices are extremely useful and essential in telemedicine and home healthcare and can also be used in hospital settings. These exoskeletons are designed by considering the natural motor system of the body and respond and function according to the same. They are built with calculated shape, kinematic, and weight factors to fit the human parts perfectly. These robotic devices are controlled by computer boards, powered by motors, levers, pneumatics, and hydraulics, and extensively used to restore body momentum. They were initially commercialized to help SCI patients and are now applied in different fields.  

MARKET DRIVERS

The rising cases of spinal cord surgeries and accidents drive the wearable robotic exoskeleton market growth. For example, according to WHO, around 250000 and 500000 people yearly suffer from a spinal cord injury and require assistance. Wearable robotic exoskeletons assist in recovering from spinal cord injuries and surgeries and help restore strength and moment for daily activities in such patients. For example, ReWalk is a robotic exoskeleton that supports the hip and knees to help the patients of SCi in movement. Additionally, the growing rates of older adults who require motor assistance due to weakened musculoskeletal systems support the growth of the market. As individuals age, their body starts losing the energy to support daily functions, and therefore, they often require the assistance of rehabilitation to gain momentum, and robotic wearables help them recover. They can also assist paralyzed old patients in gaining momentum. For example, GleEleks robotic exoskeleton supports paralyzed patients. The applications of robotic exoskeletons in multiple fields other than medicine, like heavy lifting in the industrial sector, also support the growth of the market. 

The growing cases of cardiac problems and resulting paralysis, along with the increasing number of road accidents and sports injuries propel the market growth. In addition, these exoskeletons are often used to train the patient's body and prepare it for prosthetics and can help improve exercise and habituation to artificial limbs. Furthermore, the growing advancements in the innovations and applications of robotics in different healthcare fields in recent times promote market growth. Physical therapies have advanced recently, with telerehabilitation and virtual rehabilitation procedures trying to make the process better and faster. Robotic exoskeletons to aid in such recovery have also become more common. In addition, the growing research and developments in wearable robotic devices support the market's growth. The rising investments and support from the government also lead to more revenue for the market. 

According to WHO, an estimated 1.3 billion people experience severe disability in their lifetimes, and such patients need to receive the necessary assistance. In addition, the growing need for awareness about the problems of disability supports market growth. Robotic exoskeletons best adapt to the patient's body and have been proven to provide promising results in the healthcare industry. Growing mechanized systems and an understanding of machine learning and AI technologies further boost the market growth. Finally, the hope for recovery that the robotic exoskeleton is providing several individuals with disability supports the growth of the market. For example, recently, a university student who was shot and paralyzed seven years ago was able to walk again to receive his degree thanks to support from a robotic exoskeleton. The latest involvement of robotic exoskeletons in multiple fields, like heavy weightlifting and aid to soldiers fuels the market growth.

MARKET RESTRAINTS

Even though wearable robotic systems can be helpful, they are yet to be adequately standardized and approved by the healthcare sector, which can hinder its scope for growth. Additionally, on some occasions, instead of adjusting to the patient's body measurements, the robotic exoskeletons impose new proportions on the patient and make them move according to the robot's settings which can be dangerous for the body. Therefore, the high precautions required for wearable robotic exoskeletons are a drawback to the market's growth. Furthermore, robotic exoskeletons can be expensive and are difficult to afford for several economic classes. They are also not covered by any insurance policies and, therefore, need to be bought entirely at the patient's expense, leading to more restraints for market growth. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

Wearable Robotic Exoskeleton Market Analysis By Type

The powered segment is expected to dominate the market during the forecast period due to its ability to support heavyweight items and ease of transferring those products. It is also preferred as it causes zero to no damage to the goods and has smooth functioning. Additionally, powered exoskeletons can be more comfortable to use for rehabilitation as it eases the process of supporting the segment growth. 

The passive segment is also expected to have moderate growth during the forecast period as powered exoskeletons can be strained to use, and patients might prefer the passive system. 

Wearable Robotic Exoskeleton Market Analysis By End-user

The Industrial segment is expected to dominate the market during the forecast period due to the use of robotic exoskeletons in several heavy weightlifting and electronic industries, and automobile manufacturers support the growth of the segment. In addition, the manufacturing and processing of several industrial products often involve several parts and lots of work leading to assistance required from robotic exoskeletons. 

The military and defense segment is also expected to grow with the latest advancement in equipment for soldiers and the heavy carry-on packages that the soldiers have to keep with them while trekking and running, leading to a requirement in the segment. However, the growing cases of rehabilitation and recovery from traumatic injuries are leading to more markets for the healthcare sector.

REGIONAL ANALLYSIS

The North American region is expected to dominate the market during the forecast period due to several key market players and the availability of advanced research and development facilities and equipment in the region. The presence of advanced healthcare in countries like the US and Canada supports the growth of the market. The rising awareness about the uses of robotic exoskeletons and rising cases of accidents, chronic diseases, and patients needing rehabilitation support the growth of the market. The growing investments in the R&D for exoskeletons from both public and private sectors and the application of exoskeletons in multiple industries like military, industrial, and healthcare sectors support the growth of the market. 

The market in Asia-Pacific is expected to grow due to the rising efforts for better healthcare solutions and the presence of a large senior population requiring assistance. Furthermore, the market is also growing in the region due to the presence of technologically advanced countries with a high share in producing technical, medical equipment, like South Korea and Japan. Additionally, the advanced application of wearable robotic exoskeletons in the region's military services sector and industry leads to market growth. 

The Market in Europe is also expected to grow due to the rising awareness among the population and rising technologies in countries like the UK and Germany. 

KEY MARKET PARTICIPANTS

Companies playing a leading role in the global wearable robotic exoskeleton market profiled in this report are ATOUN Inc., B-Temia Inc., Bionik Laboratories Corp., Cyberdyne Inc., Daiya Industry Co., Ltd., Ekso Bionics Holdings, Inc., Focal Meditech BV, Honda Motor Co., Ltd., P&S Mechanics Co. Ltd., Parker Hannifin Corporation, ReWalk Robotics Ltd., Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Myomo Inc., and Rex Bionics Ltd.

RECENT HAPPENINGS IN THE MARKET

• In March 2023, Svaya Robotics created the first quadruped robot in the nation and a wearable exoskeleton in collaboration with DRDO Labs - Research and Development Establishment, Pune, and Defence Bio-engineering & Electro Medical Laboratory, Bangalore. The quadruped robot can navigate challenging terrain, giving the armed forces a remote reconnaissance and inspection facility.
• In May 2023, German Bionic, an Augsburg-based business, created wearable exoskeletons that give users superhuman power. The Cray X and the recently released Apogee, two commercially available exoskeletons from Germanic Bionic, are worn like a backpack. Electric motors drive them, and they may add up to 30 kg of additional force to your legs, core, and back when and where you need it.  
• In May 2023, Cyberdyne Medical's Hybrid Assistive Limb (HAL) is a brain-controlled robotic technology installed at IBS Hospital. The non-invasive method was initially used at IBS Hospital in India and the South-East Asia region. The world's first wearable cyborg robot, HAL, was created by Japanese researchers. It is based on a novel technology known as "cybernetics."
• March 2021, for its wearable robotic suit built on an exoskeleton, Astrek Innovations intends a user trial. With wearable robots, motion capture, machine learning, and data analysis/visualization, Astrek sees a technological leap into the present for these industries.

DETAILED SEGMENTATION OF THE GLOBAL WEARABLE ROBOTIC EXOSKELETON MARKET INCLUDED IN THIS REPORT

This research report on the global wearable robotic exoskeleton market has been segmented and sub-segmented based on type, end-user & region.

By Type

• Powered
• Passive

By End-user

• Healthcare
• Military & Defence
• Industrial

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa