Sharp Revenue Jump Predicted in Global Exoskeleton Industry Between 2023 and 2030

The exoskeleton market is experiencing growth and is projected to reach USD 6,957.9 million by 2030. This growth can be credited to the rising count of spinal cord injuries and strokes, growing healthcare investments, rising elderly populace, thriving job opportunities for disabled individuals, and growing penetration of such items in military and industrial operations.

Get the sample pages of this report: https://bit.ly/3WXVGDJ

The industry, under the component segment, is divided into software and hardware. Of these, the hardware category held the larger revenue share in recent years because exoskeletons mainly include hardware components, such as actuators, sensors, and powered systems. Passive exoskeletons are majorly constructed with hardware parts.

The categories under the type segment of the exoskeleton industry comprise passive and powered. Of these, the powered category is projected to experience faster development in the coming few years.

Asia-Pacific is projected to showcase the fastest development in the industry for exoskeletons in the coming few years. This will be because of the rise in the elderly populace and the growth in the utilization of exoskeletons in the medicinal field.

The quickly increasing aged pool has caused the snowballing occurrence of disability and orthopedic illnesses in the region. The elderly also results in a dropping in bone density and breakable bones, which drives the need for such medicinal items.

Key companies in the exoskeleton market are concentrating on integrating progressive technologies, like cloud connectivity, robotics, and artificial intelligence, to advance the performance of their items. artificial intelligence fuels the human potential, and also productivity, of the devices.

Hence, the rising count of spinal cord injuries and strokes, growing healthcare investments, rising elderly populace, thriving job opportunities for disabled individuals, and growing penetration of such items in military and industrial operations are the major factors contributing to the growth of the exoskeleton market.