Global Medical Exoskeleton Market: Overview
Medical exoskeleton has come to occupy a distinct position in rehabilitation or augmentation medical device in patients with limb or mobility disorders. The medical aid has emerged as a useful piece of wearable robotics with wide applications in health technology.
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Its role as a mobility aid in improving the quality of the patient populations has been a compelling proposition reinforcing its demand in the healthcare sector. Medical exoskeletons are worn outside the body of individuals and usually consist of rigid parts or hardware such as sensor and actuator, and robotic software.
Over the past few years, the variety of uses that wearable robotics can be put to as assistive mobility device has kept the medical exoskeleton increasingly thriving. In recent years, medical professionals have been constantly exploring the potential of medical skeleton as a rehabilitation device in various parts of the world. In recent years, there has been growing number of clearances for medical exoskeleton in lower limb disorders in developed regions, notably in the EU, Japan, and North America.
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The various assessment offered in the report pertains to analysing the growth dynamics of the global medical exoskeleton market and key investment pockets for stakeholders. The analyses help in identifying the segments that are likely to receive greater interest among policy makers and businesses.
Global Medical Exoskeleton Market: Trends and Opportunities
Rising number of people across the world with lower limb disorders is bolstering the need or mobility aid and assistive medical devices. The growing morbidity and health burden of disorders such as cerebral embolisms and spinal cord injuries is a notable factor driving the demand for medical exoskeleton. The need is substantial among geriatrics in all major regions of the globe. The growing demand for innovative rehabilitation approaches has posited increasing focus of the medical community on medical exoskeleton, thus fueling the rapid expansion of the global market.
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Rising insurance coverage for the assistive devices is increasingly benefitting the patient population, thereby catalyzing the growth of the global medical exoskeleton market. Several manufacturers and insurance providers are focused on expanding their reimbursement policies to favour the uptake of medical exoskeleton as assistive devices. Advances made in medical robotics over the past few years have made medical exoskeleton devices smarter, driving innovations in the market. The advent of modular medical exoskeleton and devices with intuitive interface is an important case in point.
Global Medical Exoskeleton Market: Region-wise Outlook
On the geographical front, developed regions are expected to emerge as substantially lucrative or the medical exoskeleton market. This is supported by a favourable regulatory impetus in developed nations and rapid pace of technological advances in medical robotics in the regions. For instance, rising acceptance of rehabilitative powered exoskeletons in healthcare facilities in the U.S. is creating sizeable chunks of revenue in the global market. The clearance of cutting-edge technologies is also helping in the swift expansion of the demand for medical exoskeleton in developed countries. The report takes a critical look at emerging avenues in all major regions of the medical exoskeleton market.
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Key Players Mentioned in the Report
The study evaluates the impact of various elements of the prevailing competitive dynamics on the prospects of the global medical exoskeleton market. The insights cover key product development players in numerous players and offer an incisive analysis of their research and development initiatives. Some of the companies whose strategies are expected to shape the contours of the competitive landscape of the global medical exoskeleton market are Wearable Robotics SRL, Hocoma AG, B-TEMIA Inc., Bionic Laboratories, Parker Hannifin, Interactive Motion Technologies, Inc., and DIH International.
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