The global exoskeleton market will grow from US$1,006 million in 2025 to US$2,464 million by 2030 at a CAGR of 19.62% during this period.
Exoskeletons are external frameworks integrated with the human or animal body to compensate for the loss or dysfunction of natural skeletal or bodily components. In cases of spinal or nerve failure, these devices enable movement of body parts isolated from the nervous system. The adoption of exoskeletons is anticipated to surge due to rising demand in military and industrial sectors for enhanced operational efficiency. In manufacturing, exoskeletons mitigate risks during hazardous tasks. Additionally, the growing geriatric population and increasing prevalence of spinal cord injuries (SCI) and diseases significantly contribute to market growth. Technological innovation is expected to broaden market scope, though high costs may limit accessibility.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
Growing Cases of Spinal Cord Injuries (SCI)
Rising incidences of SCI and spinal diseases drive significant demand for exoskeletons, enabling patients to regain control over impaired body parts and maintain daily functionality. According to the National Spinal Cord Injury Statistical Center (NSCISC), approximately 18,000 new SCI cases are reported annually in the U.S. as of recent estimates, with vehicle crashes identified as a leading cause—a trend exacerbated by increasing crash rates. This growing prevalence underscores the urgent need for exoskeletons, with heightened awareness and availability further bolstering market prospects through the forecast period.
Growing Geriatric Population
The aging global population is another critical factor propelling exoskeleton demand. Elderly individuals, particularly those with chronic conditions, face elevated risks of spinal issues and injuries, necessitating exoskeletons for mobility and independence. The United Nations Population Report projects the population aged 65 and older will reach 1.5 billion by 2050, up from 9.5% of the global demography in 2020 to approximately 15%, amplifying demand. However, the rise of social and nursing robots—particularly in Japan and South Korea, where government and private investments are robust—may substitute exoskeletons for some geriatric applications, potentially constraining this segment’s growth.
Technological Advancements
Technological advancements and the entry of new players are poised to expand the exoskeleton market. With increasing SCI cases and robust demand, companies are heavily investing in innovative products. In June 2023, Japan-based Archelis Inc. introduced an upgraded wearable exoskeleton for industrial and medical use, focusing on ergonomic support (based on recent industry trends). Similarly, in July 2024, Swiss start-up Auxivo AG launched the EDUExo Pro, an educational robotics exoskeleton, broadening access to students and fostering innovation. These developments are expected to unlock new growth opportunities and magnify the market’s scope through the forecast period.
Key Market Segments