The global exoskeleton market was valued at USD 419.5 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 16.6% from 2024 to 2030. In terms of volume, the market volume was 13,643 units in 2023, and it is expected to grow at a CAGR of 9.3% from 2024 to 2030. Several key factors are driving this growth, including the rapidly increasing global geriatric population, higher adoption rates of medical devices across diverse industries, and a rising number of spinal cord injuries (SCI). The market is also being fueled by advancements in exoskeleton technology, which provide significant benefits in terms of mobility, rehabilitation, and employee productivity.

The aging global population is a major driver behind the increasing demand for exoskeletons, particularly in medical and rehabilitation sectors. As people age, they are more prone to conditions like muscular weakness, immobility, and spinal cord injuries, which can be alleviated by the use of exoskeletons. Moreover, the adoption of exoskeletons is not limited to healthcare alone; various industries such as automobile, military, defense, and construction are also embracing these technologies to improve worker safety, reduce injury risks, and enhance workplace efficiency.

The incidence of stroke is another contributing factor to the market's growth. As the number of stroke survivors increases, so does the demand for exoskeleton solutions that help patients regain mobility and improve their quality of life. Exoskeletons have proven to be particularly effective for stroke rehabilitation by supporting muscle movement and enabling patients to perform therapeutic exercises that they otherwise would not be able to do independently.

A significant driver of market growth is also the rising incidence of spinal cord injuries (SCI) worldwide. According to the National Spinal Cord Injury Statistical Center (NSCISC), in the U.S., 17,730 new SCIs are diagnosed every year, and approximately 291,000 people live with SCIs. Exoskeletons offer a potential solution for individuals living with spinal cord injuries, enabling them to regain some degree of mobility and perform daily activities that would otherwise be challenging. This creates a large, ongoing demand for exoskeleton devices, both for rehabilitation and for improving independence in daily life.

Gather more insights about the market drivers, restrains and growth of the Exoskeleton Market

Regional Insights

North America 

North America held a dominant position in the exoskeleton market in 2023, accounting for 45.9% of the revenue share and 27.0% of the volume share. Several factors contribute to this strong market presence, including increased investment in research and development, a growing prevalence of disabilities, and an expanding number of partnerships and collaborations between key market players. The region also benefits from the availability of technologically advanced products and strong public and private sector support. For example, in March 2021, Ekso Bionics partnered with U.S. Physiatry (USP) to educate clinicians on the clinical benefits of its EksoNR robotic exoskeleton, showcasing the region's focus on enhancing awareness and expanding usage of exoskeleton technology.

In addition, North America's market is supported by a rising disposable income, an aging population, and widespread involvement of key players like Ekso Bionics, ReWalk Robotics, and Cyberdyne. There is also a significant demand for exoskeletons in industries like military, defense, and human augmentation, driving both public and private investment. The combination of these factors makes North America a leading force in the exoskeleton market and is expected to sustain this growth trajectory throughout the forecast period.

Asia Pacific

Asia Pacific, on the other hand, is projected to register the fastest CAGR during the forecast period. This is primarily driven by the growing patient pool in the region requiring rehabilitation support, as well as government support and funding aimed at advancing healthcare infrastructure. The economic growth in China, India, and Japan is also contributing to the region's progress, with favorable public-private collaboration boosting the development and adoption of exoskeleton solutions. This growing market potential is underpinned by the increasing need for mobility aids, particularly in rapidly developing countries where healthcare infrastructure is improving and accessibility to advanced medical technologies is expanding.

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Key Companies & Market Share Insights

The exoskeleton market is highly competitive and includes a mix of established companies and emerging players. Ekso Bionics, SuitX, ReWalk Robotics, and Cyberdyne, Inc. are among the leading companies, each contributing to the technological advancements and widespread adoption of exoskeletons.

• Ekso Bionics specializes in the development of bionic exoskeletons and rehabilitation technologies. The company received its first FDA clearance for its exoskeleton products designed for individuals with spinal cord injuries and stroke. Ekso Bionics is known for its innovation and has been a pioneer in the field, forming partnerships with established healthcare facilities to expand its distribution network and enhance patient care.

• Cyberdyne, Inc. is a leader in the development and distribution of exoskeleton suits used in medicine, caregiving, and labor support. The company employs strategic growth tactics such as mergers and technological collaborations to broaden its market reach and enhance its product portfolio.

• Lockheed Martin is a major player in the defense and aerospace industries, leveraging its expertise to develop exoskeletons for military and defense applications. Lockheed Martin focuses on obtaining defense service contracts to integrate exoskeleton technology into military operations, enhancing soldier mobility and endurance.

Key Exoskeleton Companies:

• Ekso Bionics

• Hocoma

• Lockheed Martin Corporation

• Suit X

• Rex Bionics Plc.

• RB3D

• ReWalk Robotics

• Cyberdyne, Inc.

• ActiveLink (Panasonic Corporation)

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