Increasing Technological Advancements and Growing Investments to Drive Asia Pacific Exoskeleton Robotic System Market during2022–2028
The healthcare industry trends are changing drastically due to constant technological developments and innovations, enhancing healthcare services and quality of care. Various Asia Pacific market players are striving hard to acquire the largest market share, followed by rising investments in exoskeleton robotic systems on a regional level. In April 2022, Exoskeleton maker RoboCT Technology Development Co. completed a $ 15.7 million (RMB 100 million) Series A+ financing round. Hangzhou, China-based RoboCT provides the disabled, the elderly, and medical rehabilitation institutes with intelligent rehabilitation devices and robotic technology with data analysis and cloud computing. Additionally, the surge in R&D activities by the companies is expected to accelerate the development of advanced systems for diverse application areas such as healthcare, chemical, defense, and commercial. The companies also hold their technology and intellectual property rights (IPR) that help them maintain their market share. RoboCT Technology Development Co. is involved in the research and development of exoskeleton technology in several fields, such as entertainment, industry, and sports. RoboCT has applied for over 100 Intellectual Property Rights (IPRs) and has received more than 20 awards across different fields. The increased adoption of artificial intelligence (AI) and Internet of Things (IoT) in developing smart exoskeleton robotic systems is expected to complement the market growth. As it is providing the data necessary for advance machine learning and cultivating AI applications, it becomes unique in the industry. Thus, the increasing technological advancements and rising investments are likely to catalyze the growth of the Asia Pacific exoskeleton robotic system market during the forecast period.
Asia Pacific Exoskeleton Robotic System Market Overview
The Asia Pacific exoskeleton robotic system market is attributed to the rising prevalence of neurological and musculoskeletal disorders and the expansion and product launch strategies implemented by market players. Ekso Bionics is expanding its presence across Asia Pacific by launching its robotic exoskeleton in Hong Kong, Singapore, Malaysia, Australia, and Taiwan. An increase in investment in developing exoskeleton robotic systems in China is also one of the factors driving the growth of the market in the country.
Asia Pacific Exoskeleton Robotic System Market Segmentation
The Asia Pacific exoskeleton robotic system market is segmented on the basis of type, application, and country. Based on type, the Asia Pacific exoskeleton robotic system market is segmented into lower body exoskeleton, upper body exoskeleton, and full body exoskeleton. The lower body exoskeleton segment held the largest market share in 2022.
Based on application, the Asia Pacific exoskeleton robotic system market is segmented into healthcare, defense, and industrial. The healthcare segment held the largest market share in 2022.
Based on country, the Asia Pacific exoskeleton robotic system market is segmented into the China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. China dominated the market share in 2022.
Lockheed Martin Corp; Cyberdyne Inc.; Panasonic Holdings Corp; Hocoma AG; ReWalk Robotics Inc.; Ekso Bionics Holdings Inc.; Parker Hannifin Corp.; B-Temia Inc.; AlterG Inc.; and INNOPHYS CO., LTD. are the leading companies operating in the Asia Pacific exoskeleton robotic system market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 142.44 Million |
| Market Size by 2028 | US$ 544.55 Million |
| CAGR (2022 - 2028) | 25.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Exoskeleton Robotic System Market is valued at US$ 142.44 Million in 2022, it is projected to reach US$ 544.55 Million by 2028.
As per our report Asia Pacific Exoskeleton Robotic System Market, the market size is valued at US$ 142.44 Million in 2022, projecting it to reach US$ 544.55 Million by 2028. This translates to a CAGR of approximately 25.0% during the forecast period.
The Asia Pacific Exoskeleton Robotic System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Exoskeleton Robotic System Market report:
The Asia Pacific Exoskeleton Robotic System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Exoskeleton Robotic System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Exoskeleton Robotic System Market value chain can benefit from the information contained in a comprehensive market report.
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