Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Smart exoskeletons are wearable electromechanical devices that have been developed as augmentative devices to enhance the physical performance of the wearer or as orthotic devices for gait rehabilitation or locomotion assistance. These enable users with appropriate physical abilities to stand, walk, climb stairs and perform. A smart exoskeleton is a prescription device that is composed of an external, powered, motorized orthosis used for medical purposes that is placed over a person’s paralyzed or weakened limbs for the purpose of providing ambulation. The use of smart exoskeleton increasing user independence reduces the energy required by the user to move joints, i.e., knee, hip and ankle, as this load is taken by the exoskeleton itself.
The growth of smart exoskeleton market industry has increased owing to the rising adoption of exoskeletons by individuals suffering from physical disabilities and neurological disorders this can be attributed to the growing prevalence of road accidents, spinal injuries. Due to increase in the number of people suffering from physical disorders and neurological disorders require products for rehabilitation purposes which have significantly increased the demand for different types of smart exoskeleton thereby, fueling the market growth. The increasing geriatric population has resulted in increase in the number of fall-related injuries and a similar instance which is also expected to contribute to the growth of the smart exoskeleton market during the forecast period.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the Europe smart exoskeleton market. In addition, complete analysis of changes on the Europe smart exoskeleton market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Europe economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The COVID-19 impact on the Europe smart exoskeleton market growth was slowdown due to the evolving coronavirus strains and imposed lockdown in the region.
Smart exoskeleton market comprises of different market segments like by type, component, body part, application and country.
The smart exoskeleton is available in market according different type such as soft exoskeleton and rigid exoskeleton. Soft exoskeletons are compliant as they fit comfortably to an individual as they are smaller and much lighter and require less energy to use. Also the soft exoskeletons have no external rigid frame due to which they have difficulty transferring power from any area of the body to the ground also motors and sensors will be more difficult to mount. The rigid exoskeleton contains a rigid and resistant set of components that fill functional roles to protect, sense, and support the individual. The high strength and load bearing capacity as well as its ability to offer protection against physical damage and abrasion the rigid exoskeleton has huge demand from military and industrial sector.
By component, the smart exoskeleton market includes key segment of sensor, actuators, power source, and control system. Actuator is the most common type of component used in an exoskeleton as it forms integral part of different kinds of smart exoskeleton. Since actuator improve the efficiency of the exoskeletons through control of errant motions. Passive exoskeletons rely on sources of energy to increase a person's movement. Sensors provide the necessary feedback to help an exoskeleton stay in balance and of course a smart exoskeleton control system to achieve the best control performance, stability and safety are other important aspects to consider.
By body part the smart exoskeleton is segmented in upper body, lower body, full body. The lower body segment plays a vital role in supporting the individual with lower body disabilities like spinal cord injury, lower limb dysfunction that lead to considerable temporary or permanent disability. The upper body segment helps in managing activities of daily living among the disabled patient population. Upper limb disorders include aches and pains in the shoulders, arms, wrists, hands and fingers, as well as in the neck.
The smart exoskeleton market finds its application in industrial, healthcare, military. The healthcare segment dominates the market. Healthcare segment dominates the smart exoskeleton market due to increase in the number of road accidents requiring rehabilitation services post-surgery and a surge in the prevalence of spinal cord injuries. The healthcare industry segment is anticipated to be the fastest-growing segment during the forecast period as exoskeletons help in enhancing strength and reducing physical strain on workers in various industries. Also the growth in their geriatric population is creating more demand for exoskeletons in healthcare industry, thereby driving the growth of the exoskeleton market for healthcare segment.
Europe smart exoskeleton market is studied for the following countries like France, Germany, Italy, Spain and UK. Europe is likely to be a key market for smart exoskeleton. High growth of the market in the region is attributed to presence of high-income countries, acceptance of technologically advanced exoskeleton devices, and extensive research activities. The demand for smart exoskeleton is rising due to its increasing use in medical rehabilitation and mobility for individuals with paraplegic disorders individuals suffering from physical disabilities and neurological disorders to increasing geriatric population and early adoption of advance technology in the region. The smart exoskeleton market is expected to grow in the forecast period in Europe region.
The key players in smart exoskeleton market are ATOUN Inc., Bionik Laboratories Corp. , Cyberdyne, Inc., Ekso Bionics, Honda Motor Co. Ltd., ReWalk Robotics, Rex Bionics Ltd., Sarcos Corp., Technaid. S.L., US Bionics Inc., Wearable Robotics srl, Fourier Intelligence, AXOSUITS SRL, Lockheed Martin Corporation.
May 2019, Alibaba partnered with Bottos to develop a smart exoskeleton robot to reduce the physical pressure of workers, thereby improving efficiency. The smart robot uses artificial intelligence and human-machine collaboration technology to carry out manual operations, such as picking, sorting, storing, loading, and unloading, in the warehousing and logistics industry.
March 2019, German Bionic launched a connected robot exoskeleton for use in the industrial Internet of Things (IIoT). The German Bionic IO cloud platform integrated with the Cray X exoskeleton supports common enterprise solutions and networked manufacturing systems, thereby enabling complete integration with smart factory and Industry 4.0 environments.
March 2019, Ottobock has launched Paexo Thumb, an exoskeleton for operations in ergonomic workplaces. The exoskeleton is small and extremely lightweight, which can be used for clipping, inserting, or plugging components on assembly lines; it can be used for relieving the strain on the joints of the thumb.
The report analyses the smart exoskeleton market based on by type, component, body part, application and country. The smart exoskeleton is available in market according different type such as soft exoskeleton and rigid exoskeleton. Soft exoskeletons are compliant as they fit comfortably to an individual as they are smaller and much lighter and require less energy to use. The rigid exoskeleton contains a rigid and resistant set of components that fill functional roles to protect, sense, and support the individual. By component, the smart exoskeleton market includes key segment of sensor, actuators, power source, and control system. Actuator is the most common type of component used in an exoskeleton as it forms integral part of different kinds of smart exoskeleton. By body part the smart exoskeleton is segmented in upper body, lower body, full body. The lower body segment plays a vital role in supporting the individual with lower body disabilities like spinal cord injury, lower limb dysfunction. The upper body segment helps in managing activities of daily living among the disabled patient population. The smart exoskeleton market finds its application in industrial, healthcare, military. The healthcare segment dominates the market. Healthcare segment dominates the smart exoskeleton market due to increase in the number of road accidents and prevalence of spinal cord injuries. Europe smart exoskeleton market is studied for the following countries like France, Germany, Italy, Spain and UK.
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