Smart Exoskeleton Market

Growing medical demand is driving the market growth

An exoskeleton with the function of improving the user's movement, preventing unexpected injuries and stimulating blood circulation in people with weak muscles. People with health and neurological problems could benefit from a smart exoskeleton. It can also be used in a therapeutic setting to assist patients in successful exercise and rehabilitation. The motors are mounted on the hip and knee joints of the exoskeleton. The need for smart exoskeletons to rehabilitate physically and neurologically disabled people is a significant factor driving the global market.

In the workplace, the purpose of an exoskeleton is to supplement, augment, or augment an employee's existing body components, primarily the lower back and upper limbs. This helps improve the quality of work and reduces the risk of work-related musculoskeletal disorders. These exoskeletons can be adapted to the operator's body part for added strength.

Soldiers often carry supplies while climbing stairs or hills as part of their daily routine. In addition, soldiers constantly struggle with endurance and strength and are prone to hip, back and knee injuries. As a result, military organizations worldwide have adopted smart exoskeleton technology that can carry payloads more efficiently. These skills also help soldiers perform better with minimal effort. A recent report by the World Health Organization (WHO) estimates that by 2050, the number of people over the age of 60 will exceed 2 billion.

The increasing incidence of falls and increasing geriatric population due to lack of stability and physical deterioration are expected to provide beneficial opportunities for the growth of the smart exoskeleton market. The device also helps the elderly maintain body tension and ensures proper blood circulation for those with weak muscles.

The development of smart exoskeletons with various power and drive systems has increased the market demand for smart exoskeletons. It is also integrated with powerful sensors and controls that control the components of the exoskeleton device, providing beneficial opportunities for the overall growth of the smart exoskeleton industry.Thus, driving the smart exoskeleton market revenue.

The Global Smart Exoskeleton Market Industry is significantly influenced by the aging population, which is increasing the demand for assistive technologies. As the global demographic shifts, more individuals require mobility assistance due to age-related conditions. Exoskeletons provide a viable solution for enhancing mobility and independence among the elderly. This demographic trend is expected to drive market growth, with projections indicating a market value of 12.8 USD Billion by 2035. The need for rehabilitation and support systems for older adults is likely to propel the adoption of smart exoskeletons in healthcare settings.

The Global Smart Exoskeleton Market Industry is experiencing rapid technological advancements that enhance the functionality and efficiency of exoskeletons. Innovations in materials, such as lightweight composites and advanced robotics, are making these devices more accessible and user-friendly. For instance, the integration of artificial intelligence and machine learning allows for adaptive control, improving user experience and performance. As a result, the market is projected to reach 5.96 USD Billion in 2024, indicating a growing demand for sophisticated exoskeleton solutions across various sectors, including healthcare and industrial applications.

The Global Smart Exoskeleton Market Industry is also propelled by stringent workplace safety regulations that mandate the implementation of ergonomic solutions. Industries such as construction and manufacturing are increasingly adopting exoskeletons to reduce the risk of musculoskeletal injuries among workers. These devices not only enhance worker safety but also improve productivity by enabling employees to perform physically demanding tasks with reduced fatigue. As companies seek to comply with safety regulations, the demand for smart exoskeletons is expected to rise, contributing to the overall market growth.

Investment in healthcare technology is a crucial driver for the Global Smart Exoskeleton Market Industry. Governments and private entities are increasingly funding research and development initiatives aimed at improving rehabilitation technologies. This influx of capital is fostering innovation and accelerating the introduction of advanced exoskeletons designed for medical applications. For example, initiatives aimed at enhancing post-stroke recovery and mobility rehabilitation are gaining traction. As a result, the market is anticipated to grow at a CAGR of 7.16% from 2025 to 2035, reflecting the rising importance of exoskeletons in healthcare.

The Global Smart Exoskeleton Market Industry is witnessing a surge in demand for rehabilitation solutions, particularly in physical therapy and recovery settings. Exoskeletons are being utilized to assist patients with mobility impairments, providing support during rehabilitation exercises. This trend is driven by the increasing prevalence of conditions such as spinal cord injuries and stroke. As healthcare providers seek effective methods to enhance patient outcomes, the adoption of smart exoskeletons is likely to expand. The market's growth trajectory suggests a robust future, with an anticipated value of 12.8 USD Billion by 2035.

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American smart exoskeleton market area will dominate this market due to its performance. Increasing disability in the region and investment from private healthcare-related organizations and government research institutes are major growth factors for the smart exoskeleton industry. Additionally, a recent study found that over 61 million people with disabilities in the United States and over 13.7% have mobility issues.

The increasing cooperation of prominent players in the medical device industry has recently influenced the global growth of the smart exoskeletons market.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Smart Exoskeleton Market SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s smart exoskeleton market accounts for the second-largest market share. The growing demand for the use of smart exoskeletons for the rehabilitation of physically and neurologically disabled people is the driving force behind the growth of the global smart exoskeletons market. Further, the German smart exoskeleton market held the largest market share, and the UK was the fastest-growing market in the European region.

The Asia-Pacific Smart Exoskeleton Market is expected to grow at the fastest CAGR from 2024 to 2032. The growing geriatric population in the region is a major driver for the smart exoskeletons market, and exoskeletons are required to develop welfare and healthcare in the region. Countries like Japan are increasing industrial activities, and intelligent exoskeletons are widely used in Japan to improve work efficiency and intensive work. Moreover, China’s smart exoskeleton market held the largest market share, and the Indian smart exoskeleton market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the smart exoskeleton market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, smart exoskeleton industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global smart exoskeleton industry to benefit clients and increase the market sector. The smart exoskeleton industry has offered some of the most significant advantages in recent years.

Major players in the smart exoskeleton market, including Ekso Bionics Holdings Inc. (US), ReWalk Robotics (US), Ottobock (Germany), Lockheed Martin Corporation (US), Parker Hannifin Corp. (US), CYBERDYNE Inc. (Japan), DIH Technologies Corporation (China), Rex Bionics Ltd. (UK), Hyundai Motor Company (South Korea), US Bionics (US), Gogoa.EU (Spain), ATOUN Inc. (Japan), RB3D (France) and others are attempting to increase market demand by investing in research and development operations.

BIONIK (Canada), is a pioneering global healthcare company that aims to provide quality-of-life solutions for people with mobility impairments. Our mission is to help millions of people with disabilities live full and independent lives by promoting hope, healing and independence through evidence-based technologies that span the continuum of rehabilitative care. The company's product portfolio includes three InMotion® robots for rehabilitation after stroke and other neurological disorders and four products in various stages of development.

Based on basic research at the Massachusetts Institute of Technology's Newman Biomechanics and Human Rehabilitation Laboratory, the InMotion® robot provides an effective, patient-specific treatment to restore upper limb motor control for various neurological conditions. And a recovery phase that includes early recovery from an acute stroke.

US Bionics (US), Our mission is to make Bionic a leading prosthetic and orthopedic solutions provider. Our vision is to bring like-minded people together with a common goal. Develop a growing clinical presence nationally and internationally and build strong alliances with healthcare partners. Our goal is to recognize patients as an integral part of the communities we serve. Our values ​​are to inspire and improve people's lives. Competent and compassionate treatment of patients.