Increasing Number of People with Disabilities to Augment Growth of the Global Exoskeleton Market

Exoskeletons are the latest addition to the list of medical devices that will allow the elderly or the disabled to live a fuller and longer life. The technology used in this device allows users to move their extremities and body parts. It was designed to help the user maintain independence, improve mobility and reduce the risk of bone damage. It is a complete body suit that has a body harness to support the lower limbs. There are two types of exoskeleton: a full-body exoskeleton, which are made from a hard material, and a lower extremity exoskeleton, which are made of soft material. The technology in these suits uses computer-controlled sensors and actuators, allowing the user to move their upper extremities and lower extremities using a hand controller and a computerized system.
These products are used by people who suffer from arthritis, osteoporosis, traumatic injuries and cerebral palsy. These individuals can walk, stand, and even crawl without the help of a wheelchair, and they can do so with less pain and discomfort. They are able to regain the ability to do normal activities like going grocery shopping, walking the dog, picking up groceries or picking up the telephone. The exoskeleton has been used to help treat spinal cord injuries and in some cases, the patient has regained the use of their legs and arms.

Market Dynamics 

Increasing number of people with disabilities is expected to propel growth of the global exoskeleton market. For instance, according to The World Bank’s updated data in 2019, 15% of the worldwide population that accounts for one billion people experiences some form of disability and one-fifth of the estimated global population that accounts for around 110-190 million, experiences significant disabilities.
Among regions, Asia Pacific is expected to witness significant growth of in the global exoskeleton market, owing to increasing investment in the military and defense sector. For instance, in March 2019, China's Ministry of Finance announced a yearly budget of US$ 177.5 billion for the defense sector compared to US$ 167.4 billion in 2018.North America is also expected to witness significant growth of in the global exoskeleton market, owing to increasing geriatric population. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034. Moreover, increasing number of spinal cord injuries is also expected to aid in growth of the market. For instance, according to researchers at the National Spinal Cord Injury Statistical Center at University of Alabama at Birmingham, as of 2019, 17,730 new spinal cord injury cases occur annually and between 249,000 and 363,000 people are currently living with spinal cord injuries in the U.S.

Competitive Analysis 
Major players operating in the global exoskeleton market are Ekso Bionics, ActiveLink (Panasonic Corporation), Cyberdyne, Inc., ReWalk Robotics Ltd., Rex Bionics Plc., Lockheed Martin Corporation, Suit X (U.S. Bionics, Inc.), RB3D, Hocoma, DIH Technologies, Focal Meditech, and Ottobock.

April 2020: Ottobock launched free e-learning modules, videos and tutorials for clinical and technical personnel to continue training in orthopaedic technology and therapy during the Covid-19 pandemic, through the company’s Ottobock Global Academy. 


 

Comments

Post a Comment

Popular posts from this blog

Let’s know what is Automotive Internet of Things? Why it is gaining so much importance in the automotive industry?

The Automotive Internet of Things (AoT) is becoming a reality today and it is starting to make people wonder if it is an innovation that is going to become mainstream. While some see it as a new era in the internet world, others question whether or not it will truly take over the world and dominate the market of consumer electronics. The Automotive Internet of Things can be described in as many ways as possible. Many have already said that it is simply the concept of communicating with each other through devices that are built into your car or truck. Others says that it is the ability for you to keep track of who has been in and out of your car, what their license plate numbers are, and even if they've crashed into your car recently. So let’s know the actual concept of Automotive Internet of Things. The concept of in-car computing, self-driving cars, and so on are mostly dependent upon the Automotive Internet of Things . This is because with the help of the internet, will be able t...
Read more

Increasing Prevalence of Sleep Disorders to Augment Growth of the Sleep Aids Market

Image
Relaxation and sleep aids go hand in hand to promote general wellbeing and mental health. There are many different natural sleep aids that you can use that do not require a prescription from your doctor. Natural sleep aids contain herbal, dietary and natural ingredients which have all been found to help in sleep or relaxation. They are not different from over-the-counter sleep aids, which are commonly antihistamine drugs, and prescription sleep aids, which are usually zolpidem and doxepin prescriptions. Nevertheless, over-the-counter sleep aids may be helpful to some people as well. Chamomile is one of many sleep aids that contains a natural sedative effect, though, the chamomile is most commonly used for menstrual cramps, as it helps induce sleep without causing drowsiness during the process. Some research studies have indicated that chamomile has a positive effect on anxiety and erratic behavior. These same studies also indicate that a combination of chamomile and valerian may have ...
Read more

Increasing Demand for Disinfecting Wipes Is Expected To Boost the Household Wipes Market Growth

Image
Household wipes are used to clean, polish, and disinfect various surfaces in a house. They can be used to clean appliances, glass, window surfaces, kitchen counters, tiles, furniture, wood surfaces, metal surfaces, etc. Wipes can be of two types, such as antibacterial wipes and non-antibacterial wipes. They help keep the house neat and clean, as well as lower the risk of illness. Household wipes are available in both wet and dry forms. Two types of fabric are used to make household wipes such as woven and nonwoven. Nonwoven wipes can be easily disposed of after a single-use, while woven wipes can be reused. Increasing demand for disinfecting wipes due to their hygiene providing nature is expected to drive the growth of the household wipes market. Disinfecting wipes contain antimicrobial agents such as quaternary ammonium compounds or phenols, sodium hypochlorite, pine oil, which kills bacteria and viruses on surfaces. Baby wipes are the most sought-after type of disinfectant wipes. Mo...
Read more