At 32.4% CAGR, Asia Pacific Medical Exoskeleton Market is Projected to be Worth US$ 720.20 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific medical exoskeleton market was valued at US$ 76.43 million in 2023 and is expected to reach US$ 720.20 million by 2031, registering a CAGR of 32.4% from 2023 to 2031. Rising number of strategic initiatives and growing incidence of stroke and musculoskeletal are among the critical factors attributed to drive the Asia Pacific medical exoskeleton market growth.

Despite the advancements in the medical industry, stroke continues to be a major public health issue. As per the Indian Stroke Association, the incidence of stroke in India over the past few decades has increased by ~100%. Furthermore, about 1.8 million people in India suffer a stroke each year, and only early treatment can reduce morbidity and mortality. Therefore, the increasing incidences of stroke have boosted the demand for exoskeleton systems for rehabilitation of stroke patients to help improve the quality of life. In addition, musculoskeletal disorders impact the mobility of an individual. The increasing prevalence of musculoskeletal disorders, such as tendinitis, osteopenia, sarcopenia, and low back injuries, result in a growing need for exoskeleton robotic systems. According to the World Health Organization (WHO), ~1.71 billion people globally are affected by musculoskeletal diseases, and lower back pain is a leading cause of disability in 160 countries. These exoskeletons assist patients in managing their pain, as well as help regain their mobility, thereby improving their overall quality of life. Thus, the increasing prevalence of stroke and musculoskeletal disorders has led to the use of exoskeleton robotic systems for rehabilitation.

On the contrary, high cost of product and regulatory concerns hampers the growth of Asia Pacific medical exoskeleton market.

By component, the Asia Pacific medical exoskeleton market is bifurcated into hardware and software. The hardware segment held 79.0% share of Asia Pacific medical exoskeleton market share in 2023, amassing US$ 60.40 million. It is projected to garner US$ 583.17 million by 2031 to register 32.8% CAGR during 2023–2031.

In terms of type, the Asia Pacific medical exoskeleton market is bifurcated into powered exoskeleton and passive exoskeleton. The powered exoskeleton segment held 80.8% share of Asia Pacific medical exoskeleton market share in 2023, amassing US$ 61.74 million. It is projected to garner US$ 615.62 million by 2031 to register 33.3% CAGR during 2023–2031.

Based on extremity, the Asia Pacific medical exoskeleton market is segmented into lower body exoskeleton, upper body exoskeleton, and full body exoskeleton. The lower body exoskeleton segment held 57.9% share of Asia Pacific medical exoskeleton market share in 2023, amassing US$ 44.24 million. It is projected to garner US$ 382.92 million by 2031 to register 31.0% CAGR during 2023–2031.

By application, the Asia Pacific medical exoskeleton market is segmented into spinal cord injury, multiple sclerosis, stroke, cerebral palsy, Parkinson’s Disease, and others. The spinal cord injury segment held 36.3% share of Asia Pacific medical exoskeleton market share in 2023, amassing US$ 27.72 million. It is projected to garner US$ 335.83 million by 2031 to register 36.6% CAGR during 2023–2031.

In terms of mobility, the Asia Pacific medical exoskeleton market is segmented into mobile exoskeleton and stationary exoskeleton. The mobile exoskeleton segment held 79.1% share of Asia Pacific medical exoskeleton market share in 2023, amassing US$ 60.45 million. It is projected to garner US$ 606.40 million by 2031 to register 33.4% CAGR during 2023–2031.

By end users, the Asia Pacific medical exoskeleton market is segmented into rehabilitation centers, physiotherapy centers, long term care centers, homecare settings, and others. The rehabilitation centers segment held 50.4% share of Asia Pacific medical exoskeleton market share in 2023, amassing US$ 38.52 million. It is projected to garner US$ 422.34 million by 2031 to register 34.9% CAGR during 2023–2031.

Based on country, the Asia Pacific medical exoskeleton market is categorized China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that Japan captured 35.3% share of Asia Pacific medical exoskeleton market in 2023. It was assessed at US$ 27.02 million in 2023 and is likely to hit US$ 268.61 million by 2031, registering a CAGR of 33.3% during 2023–2031.

Key players operating in the Asia Pacific medical exoskeleton market are BIONIK; B-Temia Inc; Cyberdyne Inc; Ekso Bionics Holdings Inc; ExoAtlet; Hocoma AG; Lifeward, Inc; Myomo Inc; and Rex Bionics Ltd., among others.

• In January 2024: Ekso Bionics Holdings, Inc. launched GaitCoach, its next-generation gait therapy software for EksoNR. The company believes GaitCoach reduces training demands and increases utilization, making the device more intuitive and easier for patients and physical therapists.

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