Exoskeleton Market Size

Exoskeleton Market size was valued at USD 1.24 Billion in 2023 and is poised to cross USD 21.02 Billion by the end of 2036, registering more than 24.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of exoskeleton is estimated at USD 1.51 Billion. The major element anticipated to influence the market demand is the growth in number of people suffering from spinal cord injuries. Between 250,000 and 500,000 individuals get spinal cord injuries annually globally. The majority of these cases have resulted from avoidable factors including violence and auto accidents.

Furthermore, with technological improvements, the demand for robots is impacted by the specifications of what they are made of and their prospective uses. The introduction of superior materials, sensors and actuators, control systems, and software technologies is a result of ongoing study and development in the field of electrical and electronic engineering. These cutting-edge components have made it simpler to develop exoskeletons that are new, better, very power-efficient, self-powered, lightweight, less complicated, and portable.