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Healthcare Wearable Robots Market Size

Report ID: GMI5447
Published Date: Sep 2024
Report Format: PDF

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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.

healthcare wearable robots market

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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.

Healthcare Wearable Robots Market Report Attributes
Report Attribute	Details
Base Year:	2023
Healthcare Wearable Robots Market Size in 2023:	USD 443 Million
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	29.1%
2024 – 2032 Value Projection:	USD 4.5 Billion
Historical Data for:	2021-2023
No. of Pages:	120
Tables, Charts & Figures:	245
Segments covered:	Product Type, Structure, Material, Body Part, Application, End-use, and Region
Growth Drivers:	Growing cases of Parkinsons and other muscle-related diseases Increasing investment in the development of exoskeleton technology Technological advancements in wearable robots
Pitfalls & Challenges:	High cost of equipment

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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.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

The healthcare wearable robots industry was valued at USD 443 million in 2023 and is projected to grow at a CAGR of 29.1% from 2024 to 2032, driven by factors such as rising disabilities, increasing focus on patient independence, and growing demand for rehabilitation solutions.

Soft wearable robots, valued at USD 390.2 million in 2023, are increasingly popular due to their lightweight, flexible materials that provide comfort and adaptability. These robots are especially beneficial for patients with neurological conditions such as stroke or Parkinson’s disease, offering better mobility assistance during rehabilitation.

Lower body wearable robots were valued at USD 327.4 million in 2023. These devices are crucial for providing mobility assistance to patients with spinal cord injuries (SCI) and are designed to enhance real-time movement assistance, improving the quality of life for individuals with severe mobility impairments.

The North America market was valued at USD 193.3 million in 2023. Key drivers include the rising incidence of sports injuries, accidents, and workplace incidents.

Prominent players in the healthcare wearable robots industry include ANGEL ROBOTICS, Bioservo Technologies AB, CYBERDYNE INC., DIH Medical, Ekso Bionics Holdings Inc., Fourier Intelligence, Myomo, Inc., ReWalk Robotics, and Ottobock SE & Co. KGaA, among others.