At 22.8% CAGR, the Europe Exoskeleton Robotic System Market is projected to be worth US$ 1,384.83 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Europe exoskeleton robotic system market was valued at US$ 403.81 million in 2022 and is expected to reach US$ 1,384.83 million by 2028, registering a CAGR of 22.8% from 2022 to 2028. Growing incidence of stroke and musculoskeletal disorders and rising strategic initiatives are the critical factors attributed to the Europe exoskeleton robotic system market expansion.

Stroke continues to be a disease of major concern for public health, despite advancements in the medical industry. Even though the growing incidence of this noncommunicable disease threatens the larger population, stroke treatment and rehabilitation remain underdeveloped in the country. Therefore, the rising incidences of stroke has increased the demand for exoskeleton robotic system for rehabilitation of stroke patients which helps in improving the quality of life. Furthermore, musculoskeletal disorders affect the mobility of an individual. The rising prevalence of musculoskeletal disorders, such as tendinitis, sarcopenia, osteopenia, and low back injuries, is expected to fuel the need for exoskeletal robotic systems. These exoskeletons robotic system assists the patients in managing their condition and regaining their mobility, thereby improving their overall quality of life. Thus, the rising prevalence of stroke and musculoskeletal disorders has fueled the use of exoskeletal robotic systems for rehabilitation. This is expected to drive the Europe exoskeleton robotic system market during the forecast period.

On the contrary, high price of exoskeleton robotic systems and unfavorable reimbursement scenario hurdles the growth of Europe exoskeleton robotic system market. 

Based on type, the Europe exoskeleton robotic system market is categorized into lower body exoskeleton, upper body exoskeleton, and full body exoskeleton. The lower body exoskeleton segment held 45.0% market share in 2022, amassing US$ 181.63 million. It is projected to garner US$ 598.96 million by 2028 to expand at 22.0% CAGR during 2022–2028.

 Based on application, the Europe exoskeleton robotic system market is categorized into healthcare, defense, and industrial. The healthcare segment held 47.6% market share in 2022, amassing US$ 192.20 million. It is projected to garner US$ 642.51 million by 2028 to expand at 22.3% CAGR during 2022–2028

Based on country, the Europe exoskeleton robotic system market has been categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 29.5% market share in 2022. It was assessed at US$ 118.92 million in 2022 and is likely to hit US$ 398.69 million by 2028, exhibiting a CAGR of 22.3% during the forecast period.

Key players dominating the Europe exoskeleton robotic system market are Lockheed Martin Corp; Cyberdyne Inc.; Panasonic Holdings Corp; Hocoma AG; ReWalk Robotics Inc.; Ekso Bionics; Holdings Inc.; Parker Hannifin Corp.; Myomo Inc.; B-Temia Inc.; and AlterG Inc., among others.

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