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Soft Exoskeleton Market for Full Body Segment Will Witness Highest Growth From 2019 to 2025

Author : Ronak Bora | Published Date : 2019-03-29 

The global soft exoskeleton market is touted to make a big difference in the wearable industry in the coming years, owing to increasing product demand from patients with musculoskeletal and neurological disorders coupled with plentiful advantages of soft suits over bulky metallic suits. Research and development are the cornerstones of this industry, leading players try and guarantee cutting-edge, practical, and quality products for solving consumer problems.

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The military sector has always been actively looking for solutions to empower armed personnel in terms of safety and efficiency.  Although military personnel are tough and strong, the nature of their work makes them highly vulnerable to muscle sprains and spasms. A recent development by a multidisciplinary team of researchers from Harvard SEAS and Wyss Institute of Harvard in fact, has put the military sector in a tizzy. The researchers have fabricated a pioneering soft multi-joint exoskeleton ideal for soldiers and emergency labors. The soft exosuit embraces an advanced automatic tuning technique that decreases fatigue and injury during strenuous jobs and allows users to stay active longer.

Soft exoskeleton market from healthcare applications is anticipated to grow at a rapid rate attributed to the burgeoning adoption of exosuits by patients with physical disabilities such as Parkinson’s disease and multiple sclerosis. The rise in the number of hospitals, clinics, and medical centers offering rehabilitation treatment to paralytic patients is projected to impel market penetration in the coming years. In addition to this, the ability of soft exoskeleton to provide relief from spine injuries, traumatic brain injuries, and strokes would further advance market share.

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Upper & lower body segment dominated the soft exoskeleton market accounted for over USD 700 thousand in 2018. Increasing usage for rehabilitation of disabled patients caused by stroke or spinal injuries will enhance the segment dominance. For instance, in 2017, Wyss Institute of Harvard University developed upper and lower limb soft exoskeletons for assisting patients with rehabilitation owing to limited mobility disabilities.

Based on product, full body soft exoskeleton market share is expected to witness highest growth over the forecast timeframe. Benefits offered by these systems include the ability to wear underneath clothing, full body protection and support along with availability of wide range of alternatives. Lower cost of these suits compared to the rigid exosuits along with light weight and availability across several sizes will support the industry proliferation through 2025.

Europe soft exoskeleton market will grow significantly owing to increased investments in R&D for improving the exoskeleton technology. The business is further supported by the presence of geriatric population and increasing innovations in the technology. Industry participants are engaged in collaborating with research institutes and universities for developing lightweight exosuits at a lower cost. For instance, researchers from the University of Limerick are collaborating with the Italian Institute of Technology for offering commercially viable exoskeletons by 2019.

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Major industry participants in the soft exoskeleton market place include ReWalk Robotics, Ekso Bionics, Daiya Industry, Roam Robotics, SRI International, and Bioservo Technologies AB. Partnerships and joint ventures are among the prominent strategies adopted by the industry participants to develop new products and increase their market share.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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