Medical exoskeleton market projected to reach $974.8m by 2027

The market is driven by an ageing population, a rise in chronic diseases, and technological advancements.

The global medical exoskeleton market is expected to grow by $974.84m at a compound annual growth rate of around 36.43% until 2027.

A report by Technavio revealed that the market is driven by factors including an ageing population, rising prevalence of chronic diseases, and technological advancements.

The market is also experiencing notable growth due to its application in workplace safety, namely for frontline workers with motor impairments from conditions including spinal cord injuries, stroke, cerebral palsy, and severe musculoskeletal injuries.

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Moreover, the market poses potential applications in military, industrial, and athletic settings.

The report mentioned that the exoskeletons find applications in industries including aerospace, aircraft manufacture, shipyards, foundries, and factories to prevent work-related accidents.