Over 35.0% CAGR Predicted in Global Exoskeleton Market During 2020—2030

AGOURA HILLS, Calif. - Dec. 21, 2020 - PRLog -- According to the estimates of the market research firm, P&S Intelligence, the market would demonstrate a CAGR of 35.9% between 2020 and 2030. The main factors driving the progress of the market are the growing prevalence of strokes and spinal cord injuries (SCIs), the soaring healthcare expenditure, and the surging geriatric population across the globe.

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Additionally, the average number of people diagnosed with SCIs in the country is 291,000. According to the organization, individual estimates of SCIs range from 249,000 to 363,000 in the country. Besides this factor, the soaring geriatric population across the globe is also driving the demand for exoskeletons. As per the 2019 World Population Aging report published by the UN, there were as many as 703 people in the age bracket- 65 years or above in the world in 2019.

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Based on type, the exoskeleton market (https://www.psmarketresearch.com/market-analysis/exoskele...)is divided into passive and powered. Between these, the powered category is predicted to register higher growth in the market in the future years. This would be because of the increasing usage of powered exoskeleton devices in various applications and also in the defense industry in several developed countries across the world. Geographically, the market is predicted to record the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years.

Hence, it is safe to say that the market would register huge expansion all over the world in the future years, mainly because of the growing incidence of orthopedic diseases, SCIs, strokes, and fractures and the surging geriatric population in many countries around the world. . .