Dublin, Sept. 27, 2017 (GLOBE NEWSWIRE) — The “Global Wearable Robotic Exoskeleton Market – Analysis and Forecast (2017-2026) Focus on Type, End User (Healthcare, Industrial, Defense and Commercial) and Application (Rehabilitation, Assistive, Body Parts Support and Sports)” report has been added to Research and Markets’ offering.
The wearable robotic exoskeleton market generated $96.0 million in the year 2016.
Rapid advancements in robotics technologies in the recent years has led to the emergence and growth of robotic exoskeletons, a distinctive field of robotics.
The wearable robotic exoskeleton market will take several years to reach its full market potential and commercialization. Currently, commercial exoskeleton devices tend to be cumbersome and slow, and hence, need to be more user friendly. Moreover, the cost of powered exoskeletons present in the market is very high as compared to the passive ones. However, exoskeleton technology is continuously improving, thus, it will be only a matter of time before exoskeletons become cost effective, user-friendly, and reliable. One of the strategies opted by manufacturers to reduce the selling price is by continuously upgrading and optimizing their products, conducting clinical trials, and expanding their sales and distribution network. Another way to reduce the selling price of exoskeletons being utilized by manufacturers is to reduce the complexity of the powered exoskeleton.
The wearable robotic exoskeleton market is witnessing a high growth rate owing to machine intelligence surpassing human intelligence in defense industry, rise in demand of exoskeletons for rehabilitation application, and rapidly growing aged population. Recent innovations in exoskeleton components and services has enabled the exoskeleton technology to reach a wider segment of consumers in the industry. However, stringent government regulations for exoskeletons in healthcare industry and high selling price of powered…