Technological Advances Propel Medical Exoskeleton Demand

According to the latest market research study published by P&S Intelligence, the global medical exoskeleton market was valued at USD 485.8 million in 2023 and is projected to experience a remarkable CAGR of 44.8% from 2024 to 2030, reaching an estimated USD 6,336.8 million by 2030. This substantial growth is primarily driven by the increasing number of individuals with physical disabilities, a rising geriatric population, and a growing number of orthopedic surgeries. According to the World Health Organization (WHO), approximately 1.3 billion people, or one in six globally, experience significant disability.  

Additionally, the market is influenced by the rising incidence of neurological diseases, such as ataxia, Parkinson’s disease, amyotrophic lateral sclerosis, acute spinal cord injury, and Alzheimer’s disease. These conditions often result in the loss of control and coordination of physical movements, thereby increasing the demand for medical exoskeletons. Furthermore, the growing number of road accidents, severe injuries, and strokes contributes to the market's expansion. The WHO reports that approximately 1.3 million people die each year due to road traffic crashes, highlighting the need for advanced rehabilitation solutions.

Download free Reports Sample Now

Key Insights

Segmentation Analysis:

·        Component: In 2023, hardware components accounted for 60% of the market share, owing to the essential role of sensors, powered systems, actuators, and control systems in exoskeletons. The hardware segment is expected to grow at a CAGR of 45.0% during 2024–2030. Software components are anticipated to grow at a CAGR of 45.2% in the same period, driven by the integration of artificial intelligence (AI) to enhance exoskeleton functionality.

·        Type: Powered exoskeletons held a larger market share in 2023, attributed to recent technological advancements. For instance, Stanford University, with funding from the National Institutes of Health (NIH), developed an exoskeleton that adapts rapidly to users’ movements during normal walking. Key industry players are focusing on integrating AI to boost human potential and device productivity. For example, in December 2021, German Bionic launched the fifth generation of Cray X, featuring active walking assistance and a new energy management system. ​

Regional and Geographical Trends:

North America is expected to dominate the medical exoskeleton market during the forecast period, driven by advanced healthcare infrastructure, high adoption rates of innovative technologies, and supportive government initiatives. Europe is projected to follow, with significant growth anticipated in the Asia-Pacific region due to increasing healthcare investments and a rising geriatric population.

Technological Advancements Shaping the Market:

The integration of AI and machine learning into medical exoskeletons is enhancing their adaptability and efficiency. For example, Blackrock Neurotech partnered with Phantom Neuro to develop the Phantom X system, enabling patients to control assistive devices like exoskeletons and prosthetics in real-time. Additionally, Ekso Bionics Holdings Inc. received FDA clearance for EksoNR for rehabilitative use in multiple sclerosis patients, expanding its application beyond stroke and spinal cord injury rehabilitation. ​

Competitive Dynamics, Major Players, and Emerging Opportunities:

The medical exoskeleton market is characterized by intense competition, with key players focusing on technological innovations and strategic partnerships to strengthen their market positions. Emerging opportunities include the development of lightweight, affordable exoskeletons and expanding applications in rehabilitation centers and home care settings. Companies are also exploring untapped markets in developing economies, aiming to cater to the growing demand for advanced mobility solutions.

In conclusion, the medical exoskeleton market is poised for substantial growth, driven by technological advancements, increasing prevalence of disabilities, and a rising aging population. Stakeholders are actively investing in research and development to introduce innovative products, aiming to improve patient mobility and quality of life.

Read More

What Are Factors Affecting Photoacoustic Imaging Industry?

The global photoacoustic imaging market is witnessing growth and is projected to reach USD 279.3 million by 2030. This growth can be ascribed to the increasing count of cancer cases and growing acceptance of progressive treatments throughout the world. The rising healthcare investments and rising elderly populace are some other reasons propelling the need for photoacoustic imaging systems.

The photoacoustic imaging industry is projected to experience quicker development in the software and other accessories category, based on product. This can be credited to the technical improvements that would permit the introduction of new and enhanced components for photoacoustic imaging systems.

For example, multispectral photoacoustic study contrast and application for measurement of photoacoustic imaging agents and the detection of sentinel lymph nodes is possible through software with a digital radio frequency RFMode Mode export capability.

In recent years, pre-clinical bifurcation had a greater share in the industry for photoacoustic imaging, on the basis of application. The industry lead of this category is mainly because of the technical improvements in the field of photoacoustic imaging, armed with the growing requirement for non-invasive imaging methods for small animals that are utilized in pre-clinical studies, and increasing count of steps by public and private establishments to aid pre-clinical research.

In the past few years, the North American region dominated the market with the largest share. This development can be mainly credited to the growing occurrence of chronic illnesses, the increasing elderly populace, and rising healthcare investments.

For Example, as per the United Nations World Population Ageing 2019 statistics, in North America, there were around 59.9 million individuals’ elderly 65 years and more in 2019, and this count is estimated to surge to 80.2 million by 2030. Therefore, the huge aging populace in North America leads to a high requirement for photoacoustic imaging studies, which fuels industry development.

Hence, the increasing count of cancer cases and growing acceptance of progressive treatments throughout the world. The rising healthcare investments and rising elderly populace are some other reasons propelling the need for photoacoustic imaging systems. 

Read More

Live Laser-Based Training and Simulation Platforms: The Future of Training

Advanced laser equipment, sensors and computers are integrated to create realistic training environments on the Live Laser Base Training & Simulation Platforms. These systems use laser technology to simulate a number of scenarios and replicate the appearance and feel of actual situations. Participants are invited to participate in a training that includes simulated combat, medicine procedures, flight simulations or video tours of buildings.

Such platforms are executed for training and attaining live learning experiences due to their lucrative nature and ability to form accurate situations, therefore providing vital practical experience in a secure and controlled environment.

The growing count of rising air traffic, commercial aircraft, the rising need for better armed training, rising internet uses, significantly rising e-learning enrolment, promising smartphone uses & other electric gadgets, and growths in virtual training and simulation tech together increased the execution of such platforms across numerous sectors.

The requirement for live laser-based training and simulation platforms will advance in the years to come, and it will reach USD 1,791 million by the end of this decade.

Applications of Live Laser-Based Platforms

Flight Simulation

Flight simulators help aspiring and even skilled pilots to advance, test, and uphold skill in flying, without jeopardizing property or individuals, and for a lot less expenditure than real flying lessons, by providing immersive, realistic experiences.

Furthermore, flight simulation is the most executed area for live laser-based training and recreation platforms, because of the substantial surge in the expenditures of aircraft production, high danger linked to civil and military aviation, high-volume usage of the cost ATF, and rise in the spending on flying real aircraft.

Battlefield Simulation and Defense

Live laser-based platforms have attained substantial popularity in armed and law enforcement training. Militaries or armed personnel can involve in marksmanship training, realistic combat scenarios and tactical exercises. The platforms precisely simulate, ballistics, weapon recoil and ecological reasons, advancing the efficiency of training programs. 

Furthermore, the significant rise in the expenditures on the armed in nation like India, Saudi Arabia and China to get new and advanced solutions, as a result decreasing the mortality rate of military personnel during battle and even during intense training sessions, increases the implementation of these platforms.

Medic Training

These platforms offer valuable advantages to aspiring healthcare professionals during their training by stimulating real-life scenarios. As a result, these significantly reduce the risk related to actual procedures for patients. These platforms prove particularly beneficial for complex procedures that have high costs and potential risks for patients, thus making it unfeasible for aspiring or untrained individuals to participate, even for educational purposes and skill development. 

Apart from all the applications mentioned above, these platforms are also used in vehicle simulation, naval simulation, and ground simulation. 

As a result of the increasing requirement to reduce the risk and expenditures while training personnel across numerous industries and the constant surge in the overall expenses in healthcare, digital manufacturing, education, defense, and research & development sectors globally.

Read More

In-Silico Drug Discovery Industry Boosted by Usage of Artificial Intelligence

As stated by P&S Intelligence, the in-silico drug discovery market will reach USD 5,682.3 million by 2030, powering at a rate of 10.4% in the years to come.

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

This has a lot to do with the increasing emphasis on reducing errors in medication, advancements in computational biology technologies, and rising usage of cloud-based applications.

AI led the industry, with a share, of over 40%, in 2021. As the rate of data digitization is increasing in the healthcare industry, AI is being employed for addressing problems in obtaining, analyzing, and employing knowledge for solving complex clinical problems.

The industry is also powered by the rapid technical breakthroughs in computational biology. Computational approaches are successful in the expansion of new medicinal molecules. These progressions have further simplified the data processing and analysis phases of sequencing thus resulting in shorter turnaround times and a higher precision.

These developments have encouraged the requirement for more-integrated storage and computational node utilization methods across the industry. Such integration will decrease data transfer costs and remove the bottlenecks in downstream analysis and computational analytic community communication. Virtual screening is an often-used computational method for identifying hits in the early stages of the process of drug development.

The North American in-silico drug discovery market had the largest share, of approximately 45%, in the past. This is because of the strong requirement for treatments for rare ailments in the continent. Additionally, technological progressions, presence of significant software vendors, increasing patient population, and increasing focus of the government of the two regional nations on improving healthcare infrastructure.

Due to the growing focus on the reduction of medication errors all over the world, the demand for in-silico drug discovery procedures will continue to grow in the near future.

Read More

How Sepsis Diagnostics Help People with Infections?

A weakened immune system makes patients more susceptible to viral, bacterial, parasitic, fungal, or other infections, which can result in sepsis, a dangerous consequence. One of the most frequent causes of mortality in medical facilities is sepsis.

Additionally, the immune system responds to an infection by releasing chemicals to fight the infection, which results in sepsis. As it enters the circulation, this causes swelling throughout the body.

It deprives the body's vital organs of oxygen and nutrients and leads to poor blood flow, blood vessel leakage, blood clots, and other problems. Many medical professionals think that septic shock, which is a medical emergency, is the third stage of a three-stage disease that also has severe septic shock and sepsis.

Sepsis is more likely to affect persons with weakened immune systems, children, the elderly, and those who have cancer, AIDS, diabetes, or other chronic conditions. Thus, the global sepsis diagnostics market is expected to reach USD 1,109.0 million by 2030.

The present sepsis diagnostic techniques rely on vague physiological and clinical parameters, which frequently make it challenging to distinguish between sepsis and a systemic inflammatory response brought on by normal inflammation.

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

The first line of defense against blood clotting, infection, and decreased oxygen availability is the blood test. Additional laboratory examinations such as urine tests wound secretions, and respiratory secretions come next.

Moreover, computed tomography, x-rays, ultrasound, and magnetic resonance imaging (MRI) are subsequently utilized if the diagnosis of sepsis and, consequently, the cause of inflammation, cannot be made using these procedures.

The CDC focuses on five essential sepsis factors: raising awareness of sepsis through involving clinical professional organizations and patient advocates. Align infection control, chronic disease treatment, and effective antibiotic use to improve the early detection of sepsis.

The government is also promoting sepsis awareness and generating money. Resolution WHA 70.7 on Improving the Prevention, Diagnosis, and Clinical Management of Sepsis was just approved by the 17th World Health Assembly.

Novel biomarkers for the diagnosis of sepsis are being developed. It is anticipated that the demand for innovative diagnostic approaches would be driven by the increased occurrence of sepsis and infectious diseases.

According to an article in the Infection & Chemotherapy Journal, the use of biomarkers for risk assessment, treatment response monitoring, diagnosis, and outcome prediction is possible. More than 170 biomarkers, including procalcitonin, C-Reactive Protein, various cytokines, and cell surface markers, have been proven to be helpful in determining sepsis.

What Brings on Sepsis?

The most frequent cause of sepsis is bacterial infections. Infections with viruses, parasites, or fungi can also result in sepsis. Any variety of locations throughout the body can serve as the infection's source. The following are typical places and infection types that can cause sepsis:

The abdomen: An infection of bowel problems, appendicitis, peritonitis, and liver or gallbladder infections.

The skin: Bacteria can infiltrate the skin through cuts, rashes, or holes created by intravenous (IV) catheters. Sepsis can also be brought on by conditions like cellulitis, an inflammation of the connective tissues of the skin.

The urinary tract (kidneys or bladder): If the patient uses a urinary catheter to drain urine, urinary tract infections are more common.

Read More