Wearable Robotic Exoskeleton Market to Hit USD 5,700.9 million by 2027; Increasing Demand for Higher Efficiency in the Manufacturing Sector to Boost the Market: Fortune Business Insights(TM)
6:04 am ET February 1, 2021 (Globe Newswire)
The global wearable robotic exoskeleton market size is projected to reach USD 5,700.9 million by 2027, exhibiting a CAGR of 42.6% during the forecast period. Rising utilization of robotic exoskeletons by healthcare facilities around the world is a prominent factor driving this market, shares Fortune Business Insights(TM) in its report, titled "Wearable Robotic Exoskeleton Market Size, Share & COVID-19 Impact Analysis, By Technology Type (Powered and Passive), By Application (Healthcare, Industrial, Defense & Aerospace and Others) and Regional Forecast, 2020-2027".
In the healthcare industry, wearable robotic exoskeletons are structures designed to aid people suffering from disabilities such as paralysis move their limbs and restore some form of normalcy in their lives. The vast potential of these structures is pushing health facilities worldwide to adopt and utilize them in effective ways. For example, Ekso Bionics' Ekso NR is being used by 300 hospitals across the US. The exoskeleton has been engineered to train the muscles and brains of stroke and spinal cord injury patients and enable them to walk and move again without assistance. In Russia in March 2019, doctors in a Southern Russian hospital used ExoChair, an exoskeleton designed to support the pelvic region and lower limbs, to perform a 12-hour-long urological surgery. The widening adoption of robotic exoskeletons in hospitals is, thus, broadening the horizons of this market.
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