India Exoskeleton Market Size & Outlook, 2023-2030
India exoskeleton market, 2016-2030 (US$M)
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India exoskeleton market highlights
- The India exoskeleton market generated a revenue of USD 0.7 million in 2023 and is expected to reach USD 3.1 million by 2030.
- The India market is expected to grow at a CAGR of 24.6% from 2024 to 2030.
- In terms of segment, lower body was the largest revenue generating extremities in 2023.
- Upper Body is the most lucrative extremities segment registering the fastest growth during the forecast period.
Exoskeleton market data book summary
| Market revenue in 2023 | USD 0.7 million |
| Market revenue in 2030 | USD 3.1 million |
| Growth rate | 24.6% (CAGR from 2023 to 2030) |
| Largest segment | Lower body |
| Fastest growing segment | Upper Body |
| Historical data | 2016 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Upper Body, Lower Body, Full Body |
| Key market players worldwide | Ekso Bionics Holdings Inc, Lockheed Martin Corp, Ottobock, Rex Bionics, Rewalk Robotics Ltd, Cyberdyne Inc, Panasonic Holdings Corp, Hocoma, RB3D |
Other key industry trends
- In terms of revenue, India accounted for 0.4% of the global exoskeleton market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan exoskeleton market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 1.3 million by 2030.
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Exoskeleton Market Scope
Exoskeleton Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
India exoskeleton market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to exoskeleton market will help companies and investors design strategic landscapes.
Lower body was the largest segment with a revenue share of 42.86% in 2023. Horizon Databook has segmented the India exoskeleton market based on upper body, lower body, full body covering the revenue growth of each sub-segment from 2016 to 2030.
Growing geriatric population and rising prevalence of conditions, such as spinal cord injury, stroke, brain injuries, and paralysis, are some of the major factors fueling the market growth in the country. For instance, according to the latest data published by World Bank, the geriatric population in India, increased to 94.4 million in 2021 as compared to 83.6 million in 2016.
This is a significant increase, which demonstrates growth opportunities for adoption and penetration of exoskeletons in the market. In addition, growth of various industries in the country and rise in the awareness regarding utilization of exoskeletons in different sectors, such as healthcare, aviation, military, construction, and logistics, are among factors expected to boost the market growth in India.
Moreover, India has a rapidly developing startup culture that provides innovative tools and solutions for catering to different markets. Development of technologically advanced exoskeletons by local companies is one of the major factors boosting the market growth.
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Our clientele includes a mix of exoskeleton market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India exoskeleton market , including forecasts for subscribers. This country databook contains high-level insights into India exoskeleton market from 2016 to 2030, including revenue numbers, major trends, and company profiles.
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India exoskeleton market size, by extremities, 2016-2030 (US$M)
India Exoskeleton Market Outlook Share, 2023 & 2030 (US$M)
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