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Global Wearable Robotics Market Forecast: 2021-2031 Growth Trends

The future of wearable robotics is poised for exponential growth, as forecasted by analysts from ResearchAndMarkets. Their projections for the global market of wearable exoskeletons spanning 2021 to 2031 paint a promising picture, with an anticipated growth rate of 32.68% in revenue and 34.01% in unit sales. At the forefront of this surge is North America, particularly the United States and Canada, projected to command a substantial 38.20% share of the market.

The driving force behind North America's dominance lies in the substantial investments made by exoskeleton manufacturers based in the United States. These investments underscore the region's pivotal role as a leading consumer of wearable robotic exoskeletons. According to industry experts, the rising prevalence of musculoskeletal disorders among the aging population worldwide, coupled with increasing awareness of exoskeletons, has propelled the demand for these innovative devices.

Government initiatives, along with support from non-profit organizations and various associations, have further catalyzed market growth by fostering an environment conducive to innovation and investment. This collaborative effort has created fertile ground for new entrants, thereby expanding the market and driving technological advancements in wearable robotics.

Ekso Bionics highlights the pressing need for solutions in this space, citing staggering statistics: annually, 55.9 million individuals worldwide suffer traumatic brain injuries, half a million are hospitalized due to spinal cord injuries, and 15 million endure the debilitating effects of stroke. Many of these individuals experience impaired mobility or paralysis, underscoring the urgent demand for effective rehabilitation solutions.

Exoskeletons offer a ray of hope for restoring musculoskeletal functions through enhanced rehabilitation and training methodologies. In cases where traditional methods fall short, robotic devices equipped with advanced capabilities step in to partially compensate for lost abilities, offering newfound independence and mobility.

Leading the charge in the global wearable exoskeleton market are prominent companies such as ATOUN Inc., B-Temia Inc., Ekso Bionics, ReWalk Robotics Ltd., and others. These industry frontrunners are driving innovation and shaping the landscape of wearable robotics, poised to transform the lives of millions worldwide. As the market continues to evolve, the potential for revolutionary advancements in assistive technologies remains boundless.

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