Rising Incidence of Stroke and Musculoskeletal Disorders Drives North America Exoskeleton Robotic System Market Growth
Stroke continues to be a major public health concern, 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. As per the Centers for Disease Control and Prevention, every year, more than 795,000 people in the US have a stroke, of which ~610,000 are first or new strokes. Further, stroke is the fifth-highest cause of deaths in the US, causing 147,810 deaths in 2018. Overall, there were an estimated 460,000 strokes in the US in 2019 (two-thirds were ischemic). The country reported 190,000 stroke-related deaths and 3.83 million stroke-disability-adjusted life years. Therefore, the rising incidence of stroke propels the demand for exoskeleton robotic systems for the rehabilitation of stroke patients. 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 fuels the use of exoskeletal robotic systems for rehabilitation.
Exoskeleton Robotic System Market Overview
The North American exoskeleton robotic system market is segmented into the US, Canada, and Mexico. The US held the largest share of the market in 2021. In the region, the rising demand for orthopedic rehabilitation aided by economic prosperity fueled the production of exoskeleton robotic systems.
North America Exoskeleton Robotic System Market Segmentation
The North America exoskeleton robotic system market is segmented on the basis of type, application, and country. Based on type, the 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 North America 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 North America exoskeleton robotic system market is segmented into the US, Canada, and Mexico. The US 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., Myomo Inc., B-Temia Inc., and AlterG Inc. are among the leading companies operating in the North America exoskeleton robotic system market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 584.63 Million |
| Market Size by 2028 | US$ 1,996.56 Million |
| CAGR (2022 - 2028) | 22.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Exoskeleton Robotic System Market is valued at US$ 584.63 Million in 2022, it is projected to reach US$ 1,996.56 Million by 2028.
As per our report North America Exoskeleton Robotic System Market, the market size is valued at US$ 584.63 Million in 2022, projecting it to reach US$ 1,996.56 Million by 2028. This translates to a CAGR of approximately 22.7% during the forecast period.
The North America 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 North America Exoskeleton Robotic System Market report:
The North America Exoskeleton Robotic System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
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Essentially, anyone involved in or considering involvement in the North America Exoskeleton Robotic System Market value chain can benefit from the information contained in a comprehensive market report.
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