The global exoskeleton market size was estimated at USD 419.5 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 16.6% from 2024 to 2030. In terms of volume, the market volume was 13,643 units in 2023 and is projected to grow at a CAGR of 9.3% from 2024 to 2030. Rapidly growing global geriatric population, rising adoption rates of medical devices in different industries such as automobile, military, defense, and construction, and rising incidence of stroke are some of the key driving forces responsible for the market growth.

Furthermore, the growing incidence rate of spinal cord injuries (SCI) is expected to drive the demand across global markets. For instance, as per the National Spinal Cord Injury Statistical Center (NSCISC), in the U.S., 17,730 new SCIs are diagnosed annually, and approximately 291,000 live with SCIs.

Gather more insights about the market drivers, restrains and growth of the Global Exoskeleton Market

Exoskeleton Market Segments Highlights:

• Based on the end use, the healthcare segment dominated the market in 2023 with a largest revenue share of 50.0%, owing to the rising incidence rate of spinal cord injuries (SCIs), widespread adoption of these products & solutions in rehabilitation centers, and significant surge in treatment numbers are some of the key driving factors.
• The industry segment is anticipated to register the fastest CAGR during the forecast period owing to rising awareness levels towards the benefits of exoskeleton technologies in several industry applications and the rapidly growing incidence rate of occupation-related injuries.
• ased on the mobility, the mobile segment led the market in 2023 with the largest revenue share of 62.1% and volume share of 63.1%. The mobile segment is anticipated to witness fastest CAGR over the forecast period.
• Factors such as a rise in research and development activities and a surge in demand for motor-equipped robots aiding human body mechanics are attributed to market growth.
• North America dominated the market with a revenue share of 45.9% and volume share of 27.0% in 2023, owing to rising expenditure on research activities, growing prevalence of disabled individuals, increasing number of partnerships & collaborations amongst key participants, availability of technologically advanced products, and growing public & private support.
• Asia Pacific is anticipated to register the fastest CAGR during the forecast period owing to a growing patient pool requiring rehabilitation support.
• Based on the technology, the powered segment led the market in 2023 with the largest revenue share of 73.0% owing to rising implementation of powered exoskeleton solutions in several industries to enhance personal safety and boost productivity.
• The non-powered technology segment is anticipated to register the fastest CAGR over the forecast period, owing to growing number of innovative product launches.
• Based on the extremity, the lower body segment led the market with a largest revenue share of 42.0% in 2023, owing to rising investments, growing incidence of lower body disabilities, and increasing adoption rates of exoskeleton products by geriatric populations and paralyzed patients for weight-bearing capabilities and mobility.
• The upper body segment is anticipated to register the fastest CAGR over the forecast period, due to benefits provided by exoskeleton products in the upper extremities, such as supporting disabled communities and rehabilitation aid in post-stroke, neurological, or musculoskeletal impairments.

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Recent Development:

• In December 2023, German Bionic introduced the Apogee exoskeleton with robotic motors for healthcare workers to lift and move heavy patients with greater ease, less strain, and improved stamina
• In June 2022, CYBERDYNE Inc. formed a business and capital alliance with LIFESCAPES Inc. This collaboration highlighted the combined effort to further leverage the exoskeleton technology arena and improve rehabilitation options for patients with severe paralysis
• In June 2022, Ekso Bionics received 510(k) FDA clearance for marketing the EksoNR robotic exoskeleton. It is the latest generation of devices that can be used for the rehabilitation of multiple sclerosis patients
• In February 2020, Ekso Bionics launched EksoPulse platform, a cloud-deployed platform to measure and analyze EksoNR robotic exoskeleton. The platform is integrated with a user-friendly interface and dashboard to measure activity & progress in rehabilitation sessions
• In November 2018, Lockheed Martin received a USD 6.9 million development contract from the U.S. Army Natick Soldier Research, Development, and Engineering Center (NSRDEC) to further develop the Onyx exoskeleton for soldier demonstrations

Key Exoskeleton Companies:

• Ekso Bionics
• Hocoma
• Lockheed Martin Corporation
• Suit X
• Rex Bionics Plc.
• RB3D
• ReWalk Robotics
• Cyberdyne, Inc.
• ActiveLink (Panasonic Corporation)

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