At 27.4% CAGR, Middle East & Africa Medical Exoskeleton Market is Projected to be Worth US$ 98.25 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa medical exoskeleton market was valued at US$ 14.19 million in 2023 and is expected to reach US$ 98.25 million by 2031, registering a CAGR of 27.4% from 2023 to 2031. Increasing longevity of aging population and growing incidence of stroke and musculoskeletal are among the critical factors attributed to drive the Middle East & Africa medical exoskeleton market growth.

These days most people in the world are anticipated to survive beyond 60 years of age, which indicates increased life expectancy. Every country is recording growth in both count and percentage of elderly individuals. According to the WHO, 1 in 6 people in the world is likely to be aged 60 or more by 2030, and the population of individuals aged 60 and above would expand from 1 billion in 2020 to 1.4 billion by 2030. Furthermore, the global population with age 60 and older is likely to double, i.e., 2.1 billion by 2050. The number of persons who have progressed 80 years or above is anticipated to triple during 2020–2050, reaching 426 billion by 2050. Elderly people are at a higher risk of hospitalization than grown-ups in middle age. Thus, the aging population requiring care after surgeries favors the medical exoskeleton market growth.

On the contrary, high cost of product and regulatory concerns hamper the growth of Middle East & Africa medical exoskeleton market.

By component, the Middle East & Africa medical exoskeleton market is bifurcated into hardware and software. The hardware segment held 79.1% share of Middle East & Africa medical exoskeleton market share in 2023, amassing US$ 11.22 million. It is projected to garner US$ 79.64 million by 2031 to register 27.8% CAGR during 2023–2031.

In terms of type, the Middle East & Africa medical exoskeleton market is bifurcated into powered exoskeleton and passive exoskeleton. The powered exoskeleton segment held 80.9% share of Middle East & Africa medical exoskeleton market share in 2023, amassing US$ 11.48 million. It is projected to garner US$ 84.09 million by 2031 to register 28.3% CAGR during 2023–2031.

Based on extremity, the Middle East & Africa medical exoskeleton market is segmented into lower body exoskeleton, upper body exoskeleton, and full body exoskeleton. The lower body exoskeleton segment held 61.2% share of Middle East & Africa medical exoskeleton market share in 2023, amassing US$ 8.68 million. It is projected to garner US$ 55.92 million by 2031 to register 26.2% CAGR during 2023–2031.

By application, the Middle East & Africa 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 39.1% share of Middle East & Africa medical exoskeleton market share in 2023, amassing US$ 5.55 million. It is projected to garner US$ 48.02 million by 2031 to register 30.9% CAGR during 2023–2031.

In terms of mobility, the Middle East & Africa medical exoskeleton market is bifurcated into mobile exoskeleton and stationary exoskeleton. The mobile exoskeleton segment held 79.2% share of Middle East & Africa medical exoskeleton market share in 2023, amassing US$ 11.24 million. It is projected to garner US$ 82.83 million by 2031 to register 28.4% CAGR during 2023–2031.

By end users, the Middle East & Africa medical exoskeleton market is segmented into rehabilitation centers, physiotherapy centers, long term care centers, homecare settings, and others. The rehabilitation centers segment held 50.3% share of Middle East & Africa medical exoskeleton market share in 2023, amassing US$ 7.14 million. It is projected to garner US$ 57.57 million by 2031 to register 29.8% CAGR during 2023–2031.

Based on country, the Middle East & Africa medical exoskeleton market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 33.9% share of Middle East & Africa medical exoskeleton market in 2023. It was assessed at US$ 4.82 million in 2023 and is likely to hit US$ 32.94 million by 2031, registering a CAGR of 27.2% during 2023–2031.

Key players operating in the Middle East & Africa medical exoskeleton market are BIONIK; Cyberdyne Inc; Ekso Bionics Holdings Inc; Hocoma AG; Lifeward, 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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