Medical Exoskeleton Market Size, Share, Growth Analysis, By Component(Hardware [Sensors (Gyroscopes, Microphones, Accelerometers, Tilt Sensors), By Type(Powered, Passive), By Extremity(Lower Extremity, Upper Extremity, Full Body), By Structure(Rigid Exoskeletons, Soft Exoskeletons), By Mobility(Stationary, Mobile), By Region - Industry Forecast 2024-2031

Medical Exoskeleton Market size was valued at USD 334.50 million in 2022 and is poised to grow from USD 391.03 million in 2023 to USD 1363.72 million by 2031, growing at a CAGR of 16.90% during the forecast period (2024-2031).

Medical exoskeleton is a wearable robot that helps individuals with limited mobility. Unlike most assistive devices, such as wheelchairs or crutches, some powered exoskeleton designs actively aid mobility by using actuators and sensors to enhance the user's strength and endurance. Medical exoskeletons have tremendous potential, largely driven by the enormous addressable market that exists in patients needing mobility assistance. This market growth can be attributed to an increasing population of physically disabled people and, therefore, rising demand for the efficient rehabilitation solutions; agreements & collaborations among companies & research institutions regarding development of exoskeleton technology, availability of more insurance coverage in various countries like Japan driving the medical exoskeletons market scale. 

While there are millions of people living with a mobility disorder, the exoskeleton market has been slow moving and remains somewhat niche. This may be due to a number of reasons such as high price of exoskeleton technology, along with low awareness from both patients and care providers. However, continuous innovations in the field and growing awareness among healthcare practitioners and patients, the medical exoskeleton market is to grow broader frontier in tandem with physical therapy industry that will eventually lead to better accessibility toward effective mobility solution for individuals with limited movement.  

US Medical Exoskeleton Market is poised to grow at a sustainable CAGR for the next forecast year.