Exoskeletons, or robotic suits, powered armor, or exosuits, are seeing rising demand from the healthcare world seeking to relieve nurses with COVID-19 burnout and support patients with physical disabilities.
Exoskeletons assist nurses by augmenting the muscular strength needed to lift patients. Similarly, demand for exoskeletons rose during the pandemic as people with physical disabilities sought ways to continue therapy and complete tasks at home.
The market is expected to grow from $576.6 million in 2020 to reach $3.2 billion in 2025, growing 40.9%, according to the BCC Research report, Exoskeleton Robot: Global Markets.
- Global shipments of exoskeletons are expected to surpass 102,000 units by 2025, up from just 8,802 units in 2020, for a CAGR of 63.2%.
- The Americas will account for the largest share of the global exoskeleton market due to large elderly populations; high purchasing power of patients; the presence of key industry players; rising military spending on exoskeleton technology; and financial aid for the development of this technology.
- Asia-Pacific is expected to be the fastest-growing regional market for exoskeletons through 2025, boosted not only by the large pool of elderly or disabled people but also the region’s status as a large manufacturing hub.
Read the full report here.