Soft Exoskeleton Market Size: Technological Advancement and Growth Analysis with Forecast to 2025

Developments in the global soft exoskeleton market are gathering pace and a series of new technologically advanced soft wearables are expected to hit the market over the next few years. Research and innovation in the space have been fueled by the growing adoption of soft wearable technology in healthcare, military, and industrial applications. 

Numerous research studies have highlighted that soft exoskeleton suits, or soft exosuits, can help improve mobility in patients affected by musculoskeletal disorders or other mobility issues. Recently for instance, in June 2020, a study Journal of NeuroEngineering and Rehabilitation showed that using ReWalk Robotics’ ReStore Exo-Suite improved the walking speed in nearly 64% of the patients experiencing mobility issues associated with stroke.

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A substantial increase in R&D investments by industry players to improve the exoskeleton technology has emerged as a major factor in boosting the commercialization prospects of soft exoskeleton market share. Owing to these exoskeleton research efforts, a range of new versatile and affordable medical devices are being developed to treat millions of stroke survivors and patients with gait impairment at U.S. rehabilitation clinics. For instance, ReWalk Robotics – one of the foremost makers of robotic medical devices – recently announced that its ReStore soft exo-suit system has been cleared by the U.S. Food and Drug Administration (FDA) for sale in rehabilitation centers across the nation.

Stroke is a leading cause of disability in as many as 17 million people worldwide each year. In this context, the development of highly advanced soft exoskeleton suits and systems like ReStore would assist physical therapists to treat stroke survivors with mobility challenges. Moreover, the applications of soft exoskeletons in enabling effective performance in exercise repetitions of patients in equal amount of time is favoring soft exoskeleton market trends over the recent years.

Apart from the trend of developing new exoskeleton suits, it has been observed that efforts are being made across European countries to create resource-efficient, light-weight, and flexible prototypes on a collaborative basis. For instance, XoSoft – a European nations-funded project – has brought together nine companies from seven different countries to develop “XoSoft" prototype of a soft exoskeleton. Being developed as a part of an EU research and innovation project, the new prototype would be easy to wear, serviceable, comfortable, and compatible with the daily life of the users.

With each progressing novel technology, the multiple versions of the XoSoft prototype have been developed which in turn were integrated into a single system for clinical and laboratory testing. These prototypes are expected to address various challenges faced by those affected by mobility impairment as they include actuators, sensors, smart materials, monitoring, biomimetic control, and connected health systems, essentially boosting soft exoskeleton market outlook in the longer run.

When it comes to the application spectrum of soft exoskeleton market, the healthcare segment has been witnessing continued growth in the past few years. The launch of new medical devices coupled with a significant increase in the rehabilitation of patients across the globe are the two major factors that have propelled the expansion of healthcare segment of this industry. Additionally, it has to be noted that the application of soft exoskeleton in aiding mobility strengthening individual joints, muscle activations, gloves, geriatric rehabilitation, strokes, paralysis, and spinal cord ailments has led to an impressive spike in the product demand.

Owing to the increasing occurrences of neurological disorders and spinal cord injuries, the upper and lower body soft exoskeleton market size was estimated to be more than USD 700,000 in the year 2018. Growing geriatric population along with increasing investments in the product development would ensure that the upper and lower body product segment remains at the forefront in driving market trends in the forecast years.

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The soft exoskeleton market in Europe is poised to record notable growth over the next few years. The regional trends will be positively influenced by the presence of a large elderly population base. Regional manufacturers are prioritizing research and development activities to improve exoskeleton technology, explore its scope in new applications, and lead innovation in the space.

ReWalk Robotics Ltd., Harvard Biodesign Lab, Panasonic Corporation, Revision Military Ltd., Defence Science and Technology Organisation, Defence Advanced Research Projects Agency, Ekso Bionics, SRI International, Bioservo Technologies AB, Otherlab, Hocoma, Gogoa, Daiya Industry, and Activelink are among the prominent players in the soft exoskeleton market. 

Major Key Points from Table of Content:

Chapter 4 Soft Exoskeleton Market, By Product

4.1    Global market share by product, 2018 & 2025

4.2    Full body soft exoskeleton

4.2.1   Market estimates and forecast, 2014 – 2025, (Units) (USD Thousand)

4.2.2   Market estimates and forecast, by region, 2014 – 2025, (Units) (USD Thousand)

4.3    Upper & lower body soft exoskeleton

4.3.1   Market estimates and forecast, 2014 – 2025, (Units) (USD Thousand)

4.3.2   Market estimates and forecast, by region, 2014 – 2025, (Units) (USD Thousand)

Chapter 5 Soft Exoskeleton Market, By Application

5.1    Global market share by application, 2018 & 2025

5.2    Healthcare

5.2.1   Market estimates and forecast, 2014 – 2025, (Units) (USD Thousand)

5.2.2   Market estimates and forecast, by region, 2014 – 2025, (Units) (USD Thousand)

5.3    Industrial

5.3.1   Market estimates and forecast, 2014 – 2025, (Units) (USD Thousand)

5.3.2   Market estimates and forecast, by region, 2014 – 2025, (Units) (USD Thousand)

5.4    Military

5.4.1   Market estimates and forecast, 2014 – 2025, (Units) (USD Thousand)

5.4.2   Market estimates and forecast, by region, 2014 – 2025, (Units) (USD Thousand)

5.5    Others

5.5.1   Market estimates and forecast, 2014 – 2025, (Units) (USD Thousand)

5.5.2   Market estimates and forecast, by region, 2014 – 2025, (Units) (USD Thousand)

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Related News -   https://www.marketwatch.com/press-release/catheters-market-outlook-2021-2025-by-industry-players-2021-06-22

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