Latin America Exoskeleton Market Size & Outlook, 2023-2030
Latin America exoskeleton market, 2016-2030 (US$M)
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Latin America exoskeleton market highlights
- The Latin America exoskeleton market generated a revenue of USD 7.3 million in 2023.
- The market is expected to grow at a CAGR of 16.2% 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.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 7.3 million |
| Market revenue in 2030 | USD 20.9 million |
| Growth rate | 16.2% (CAGR from 2023 to 2030) |
| Largest segment | Lower body |
| Fastest growing segment | Upper Body |
| Historical data covered | 2016 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 4.8% of the global exoskeleton market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 102.7 million by 2030.
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Exoskeleton Market Scope
Exoskeleton Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America 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 42.47% in 2023. Horizon Databook has segmented the Latin America exoskeleton market based on upper body, lower body, full body covering the revenue growth of each sub-segment from 2016 to 2030.
Although Latin America is one of the youngest regions, younger population is shrinking at a fast rate owing to declining birth rates, increasing life expectancy, and growing geriatric population. According to Latin American and Caribbean Demographic Centre, the population above the age of 60 is expected to be over 180 million by 2050.
There is low participation in workforce in some the Latin American countries, such as Columbia, Argentina, and Brazil. Declining workforce, increasing incidence of spinal cord injuries, and growing demand for technologically advanced healthcare services are some of the key factors driving the usage of new age technologies, such as exoskeletons & robotics in the healthcare sector.
Growing number of exoskeleton projects and increasing interest among market players regarding the usage of exoskeleton technology in various areas, such as military, healthcare, production, and construction are among factors anticipated to propel market growth in this region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America exoskeleton market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America exoskeleton market from 2016 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America exoskeleton market size, by country, 2016-2030 (US$M)
Latin America Exoskeleton Market Outlook Share, 2023 & 2030 (US$M)
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