The healthcare exoskeletons have been widely used for restoring or improving the ability to walk or to lift the routine requirements. They are also used for improving the overall mobility associated to paraplegics, amputees, and others. The exoskeletons provide support to patients by strengthening and balancing the needed to stand and walk. It is benefited to patients with paraplegia and paralysis by refining their endurance, bowel, and bladder control, bone density and reducing the probabilities of developing urinary tract infections. Additionally, it advances cardiovascular and metabolic functions, better circulation, increased oxygen intake, and improved sitting posture. Healthcare exoskeleton further ensures the overall wearer can be performed and enhanced by the functionalities over their conventional capabilities. They provide a wide range of applications over a medical rehabilitation centers, thereby offering valuable assistance to handicapped and disable.
According to study, “APAC Healthcare Exoskeletons Market by Application, Mobility Type, Product Function, Power Technology, and Country 2018-2023: Growth Opportunity and Business Strategy” the key companies operating in the APAC healthcare exoskeleton market are AlterG, Inc., Cyberdyne, Inc., Bionik Laboratories Corp., Hocoma, Ekso Bionics, Myomo, Honda Motor Co., Ltd., Parker Hannifin Corporation, Panasonic Corporation (Activelink), Rex Bionics Plc., ReWalk Robotics Ltd., U.S. Bionics, Inc. (suitX).
On the basis of type, APAC healthcare exoskeleton market is segmented as passive healthcare exoskeleton and powered healthcare exoskeleton. The powered exoskeletons are the wearable type of robots operated by a motors or hydraulics, demonstrating a close cognitive and physical interaction with individual wearing and assisted by delivering a part of energy for the limb movements. On the basis of component type, market is segmented as software component and hardware component. Software component segment holds major share in market due to technologically advanced features offerings, for instance artificial intelligence, autonomous operations and inter-device connectivity functions. On the basis of mobility, market is segmented as tethered, stationary and mobile. On the basis of extremities, market is segmented as lower extremity and upper extremity. On the basis of application, market is segmented as cerebral palsy, multiple sclerosis, spinal cord injury, stroke and others. In addition, on the basis of end-user, market is segmented as rehabilitation centers, physiotherapy centers, physiotherapy centers, and other end-users.
The APAC healthcare exoskeleton market is driven by increase in insurance coverage for healthcare exoskeleton followed by rise in prevalence of physical disability disorders. However, high cost of these medical exoskeletons may impact the market.
It is expected that future of the Asia-Pacific healthcare exoskeletons market will be bright caused by rise in the demand for medical exoskeleton in rehabilitation centers coupled with presence of key market players during the forecast period. In addition the automation and technological advancement is expected to support the demand of exoskeletons demand over the forecast period.
It is also expected that the market will grow at an astonishing 2018-2023 CAGR of 42.8% due to a fast-growing adoption of all sorts of exoskeletons in a magnitude of healthcare applications across the APAC region.
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Ankur Gupta, Head Marketing & Communications