Healthcare Wearable Robots Market – By Product Type (Powered Devices, Passive Devices), Structure (Soft, Rigid), Material (Combination), Body Part, Application (Stroke, Spinal Cord Injury), End Use (Institutional, Homecare) & Forecast, 2024 – 2032
Report ID: GMI5447
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Published Date: September 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 15
Tables & Figures: 245
Countries covered: 23
Pages: 120
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Healthcare Wearable Robots Market
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Healthcare Wearable Robots Market Size
The healthcare wearable robots market was valued at USD 443 million in 2023 and is expected to exhibit growth at a CAGR of 29.1% from 2024 to 2032. High market growth can be primarily attributed to rising incidence of disabilities, increasing focus on patient independence, supportive government initiatives and funding, and growing interest in exoskeletons.
With rising healthcare expenditures and increased demand for innovative rehabilitation solutions, healthcare organizations are increasingly adopting exoskeletons. This trend has encouraged greater investment from both public and private sectors to advance technologies that improve mobility and patient outcomes. For instance, in June 2024, Ekso Bionics Holdings, Inc. announced that it has signed a research partnership with Shepherd Center, a rehabilitation hospital in Atlanta, U.S. This partnership will enable the company to incorporate its Ekso Indego and EksoNR devices across all rehabilitation and community network centers to provide improved patient support.
Additionally, patients with Parkinson’s and other muscle-related diseases often require long-term rehabilitation to manage symptoms and improve mobility. Wearable robots offer an innovative solution for rehabilitation, as they provide physical support and allow patients to participate in more effective and intensive rehabilitation exercises. The demand for rehabilitation services is growing as the number of patients with these diseases increases, leading to higher adoption of wearable robotic devices.
Healthcare wearable robots are advanced robotic devices that are worn on the body to assist with movement, rehabilitation, or support for individuals with mobility impairments or muscle-related conditions. These robots are typically designed in the form of exoskeletons or robotic suits, which enhance or restore physical capabilities for patients with disabilities, injuries, or neurodegenerative diseases such as Parkinson’s, stroke, or spinal cord injuries.
Healthcare Wearable Robots Market Trends
The technological advancements have led to more effective, personalized, and widely adopted healthcare wearable robots, improving patient outcomes in mobility assistance and rehabilitation settings.
Healthcare Wearable Robots Market Analysis
Based on product type, the market is classified into powered devices and passive devices. The powered devices segment generated the highest revenue of USD 365.9 million in 2023.
Based on structure, the healthcare wearable robots market is categorized into soft and rigid. The soft segment accounted for dominating share and was valued at USD 390.2 million in 2023.
Based on material, the healthcare wearable robots market is categorized into combination, 3D printed, metal, plastic, and other materials. The combination segment accounted for leading revenue share and was valued at USD 123 million in 2023.
Based on body part, the healthcare wearable robots market is categorized into lower body, upper body and full body. The lower body segment accounted for majority market share and was valued at USD 327.4 million in 2023.
Based on application, the healthcare wearable robots market is categorized into stroke, spinal cord injury, traumatic brain injury, and other applications. The stroke segment accounted for dominating share and was valued at USD 235.3 million in 2023.
Based on end-use, the healthcare wearable robots market is segmented into institutional and homecare. The homecare segment held significant share and is anticipated to witness higher growth at a CAGR of 29.5% over the forecast period.
North America healthcare wearable robots market accounted for USD 193.3 million market revenue in 2023 and is anticipated to grow at CAGR of 28.4% between 2024 and 2032 period.
U.S. healthcare wearable robots market accounted for USD 174.6 million market revenue in 2023 and is estimated to hold substantial growth between 2024 and 2032.
UK healthcare wearable robots market is projected to grow remarkably in the coming years.
Japan holds a dominant position in the Asia Pacific healthcare wearable robots market.
Healthcare Wearable Robots Market Share
Key players in the market are focusing on several strategic areas to drive growth, innovation, and market penetration. These strategies include advancements in technology, partnerships, product development, and expanding applications of wearable robots in various healthcare settings.
Healthcare Wearable Robots Market Companies
Prominent players operating in the healthcare wearable robots industry include:
Healthcare Wearable Robots Industry News:
The healthcare wearable robots market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Product Type
Market, By Structure
Market, By Material
Market, By Body Part
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: