South & Central America Medical Exoskeleton Market

The South & Central America medical exoskeleton market was valued at US$ 17.51 million in 2023 and is expected to reach US$ 134.09 million by 2031; it is estimated to register a CAGR of 29.0% from 2023 to 2031.

Increasing Prevalence of SCI Fuels South & Central America Medical Exoskeleton Market

Reduced physical activity and the predominance of seated activities can lead to severe physical and psychological deterioration in people suffering from Spinal Cord Injury (SPI). Secondary complications related to SCI can also reduce life expectancies. According to the National Library of Medicine, nearly 250,000–500,000 patients suffer from SCIs every year worldwide. According to the WHO, globally, ~1.19 million people die every year in road crashes, and 20–50 million people suffer non-fatal injuries, with many incurring disabilities. Similarly, according to the Mayo Clinic estimates, sports and athletic activities such as diving in shallow water, basketball, and football cause ~10% of spinal cord injuries. Companies such as Lifeward are focusing on developing exoskeletons that help patients with SCI perform physical activities without pain. For instance, about 20% of the SCI population can be considered candidates for clinical trials of the current ReWalk Personal Exoskeleton or ReWalk Rehabilitation Exoskeleton. Moreover, soft exo-suit devices in medical exoskeletons can be used for patients suffering from SCI. Thus, the increase in the prevalence of SCI and ongoing research for the use of exoskeletons for SCI patients can be expected to fuel the market growth during the forecast period.

South & Central America Medical Exoskeleton Market Overview

Brazil is one of the most developing countries in the region, with a notable presence of healthcare facilities and technologies. R&D activities in the field of medical exoskeleton are further catalyzing the healthcare industry in Brazil at a significant rate. For instance, in November 2021, researchers at the University of São Paulo at São Carlos School of Engineering (EESC-USP) unveiled a prototype robotic exoskeleton designed to assist people who have been severely affected due to motor and sensory deficits as an aftereffect of stroke or spinal cord injury, or who have Parkinson’s disease. According to the data published by the WHO, stroke deaths in Brazil reached 123,207, i.e., 10.94% of total deaths in 2020. The age-adjusted death rate is 50.40 per 100,000 people, which ranks Brazil #128 in the world. Additionally, as per Scientific Electronic Library Online, the estimated incidence of spinal cord injury in Brazil is 16 to 26 per million/year. Therefore, the rising prevalence of such conditions and an increase in research activities are expected to drive the growth of the medical exoskeleton market during the forecast period.

South & Central America Medical Exoskeleton Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Medical Exoskeleton Strategic Insights

Strategic insights for the South & Central America Medical Exoskeleton provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Medical Exoskeleton Report Scope

South & Central America Medical Exoskeleton Regional Insights

The geographic scope of the South & Central America Medical Exoskeleton refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

South & Central America Medical Exoskeleton Market Segmentation

The South & Central America medical exoskeleton market is categorized into component, type, extremity, application, mobility, end users, and country.

By component, the South & Central America medical exoskeleton market is bifurcated into hardware and software. The hardware segment held a larger share of the South & Central America medical exoskeleton market share in 2023.

In terms of type, the South & Central America medical exoskeleton market is bifurcated into powered exoskeleton and passive exoskeleton. The powered exoskeleton segment held a larger share of the South & Central America medical exoskeleton market share in 2023.

Based on extremity, the South & Central America medical exoskeleton market is segmented into lower body exoskeleton, upper body exoskeleton, and full body exoskeleton. The lower body exoskeleton segment held the largest share of the South & Central America medical exoskeleton market share in 2023.

By application, the South & Central America medical exoskeleton market is segmented into spinal cord injury, multiple sclerosis, stroke, cerebral palsy, Parkinson’s disease, and others. The spinal cord injury segment held the largest share of the South & Central America medical exoskeleton market share in 2023.

In terms of mobility, the South & Central America medical exoskeleton market is bifurcated into mobile exoskeleton and stationary exoskeleton. The powered exoskeleton segment held a larger share of the South & Central America medical exoskeleton market share in 2023.

By end users, the South & Central America medical exoskeleton market is segmented into rehabilitation centers, physiotherapy centers, long term care centers, homecare settings, and others. The rehabilitation centers segment held the largest share of the South & Central America medical exoskeleton market share in 2023.

Based on country, the South & Central America medical exoskeleton market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil segment held the largest share of South & Central America medical exoskeleton market in 2023.

Lifeward, Inc; Cyberdyne Inc; BIONIK; Hocoma AG; and Rex Bionics Ltd. are some of the leading companies operating in the South & Central America medical exoskeleton market.