Upper Body segment to dominate the United States Smart Exoskeleton Market
Increase in cases of
physical disorders and high healthcare expenditure is expected to drive the demand
for United States smart exoskeleton market for the forecast period.
According to TechSci Research report, “United
States Smart Exoskeleton Market By Component (Sensors, Actuators, Power
Source, Control System, Others) By Type (Soft Exoskeleton v/s Rigid
Exoskeleton) By Product Type (Active v/s Passive) By Body Part (Upper body,
Lower body, Full body) By Application (Healthcare, Military, Industrial,
Others) By Company, By Region, Forecast & Opportunities, 2026”, United
States smart exoskeleton market is expected to witness significant growth for
the next five years. Smart exoskeleton is a wearable device which is used to
provide external support to restore the performance of the wearer. Smart
exoskeletons are worn outside the body and consists of sensors and actuators
coupled with robotic software. It is used to provide assistance while walking
and improve the athletic performance to help the patient walk again. Smart
exoskeletons are in high demand form people suffering from cardiovascular
disorders and physically challenging situations. Growing old age population requires
the external support for walking properly and adoption of smart exoskeleton is
expected to prevent elder people from falling and to gain stability. Functional
disability and occurrence of stroke affect the walking capability of patients
and requires the external support of smart exoskeletons for gait
rehabilitation. High cost and requirement to adjust according to body needs is
expected to create hindrance in the smart exoskeletons market growth.
The COVID-19 outbreak across the world which has been declared
as pandemic by World Health Organization has affected countries adversely.
Leading authorities in United States imposed lockdown restrictions and released
a set of precautionary measures to contain the spread of novel coronavirus.
Coronavirus affected patients started suffering from shortness of breath along
with coughing and sneezing. United States authorities increased the capacity of
hospitals as a greater number of patients were getting affected daily and
getting admitted into the hospital facilities. Manufacturing units were
shutdown and companies faced shortage of workface which impacted the market
growth adversely. However, after the government lifted the restriction
restrictions, smart exoskeletons manufacturing companies started the production
with less production volume. Also, manufacturers engaged in increasing the
availability of industrial smart exoskeleton to essential industries comprising
of healthcare, pharmaceuticals, among others which is expected to produce
alternate revenue source for this period.
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United
States smart exoskeleton market is segmented into component, type, product
type, body part, application, regional distribution, and company. Based on type,
market is further bifurcated into soft exoskeleton and rigid exoskeleton. The
soft exoskeleton segment is expected to dominate the market for the forecast
period, 2022-2026 as soft exoskeleton is made up of carbon fiber which is light
weight in nature and enhances the wearer movement. Based on body part, smart
exoskeleton market is majorly categorized into upper body, lower body, and full
body. The upper body segment is anticipated to hold major market share for the
next five years owing to its usage for treatment of stroke and cerebral palsy
patients. It is also used in rehabilitation of upper limb amputees. Based on application,
market is fragmented into healthcare, military, industrial and others. The
military segment is expected to witness growth for the predicted period due to
introduction of devices which support physical activities such as squatting,
kneeling, lifting, climbing and carrying heavy loads. Smart exoskeletons allow
the soldiers to take carry extra gears while climbing or walking on difficult
terrains.
Ekso
Bionics Holdings Inc., ReWalk Robotics, Inc., Sarcos Corp., U.S. Bionics, Inc.,
Otto Bock USA, Lockheed Martin Corporation, Raytheon Company, Parker Hannifin
Corporation, American Honda Motor Company, Inc., Myomo, Inc. are the leading
players operating in United States smart exoskeleton market. Manufacturers are
increasingly focusing on research and development process to fuel higher growth
in the market. To meet evolving customer demand with respect to better
efficiency and durability, several smart exoskeleton manufacturers are coming
up with their technologically advanced offerings.
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“Manufacturers
are investing huge amounts for research and development activities for
technological advancements of smart exoskeletons and upgradation of the
existing infrastructure. Adoption of advanced technologies such as robotics,
artificial intelligence and use of material sciences concept to make mobility
assistance tools more effective, compact and lightweight in nature which
further aids in easier wearer’s movement and convenience is expected to propel
the growth of the smart exoskeleton market until 2026” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“United States Smart
Exoskeleton Market By Component (Sensors, Actuators, Power Source, Control
System, Others) By Type (Soft Exoskeleton v/s Rigid Exoskeleton) By Product
Type (Active v/s Passive) By Body Part (Upper body, Lower body, Full body) By
Application (Healthcare, Military, Industrial, Others) By Company, By Region,
Forecast & Opportunities, 2026” has
evaluated the future growth potential of United States smart exoskeleton market
and provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of United States smart
exoskeleton market.
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