Exoskeleton market

• According to Grand View Research, the global exoskeleton market size was valued at USD 626.3 million in 2019.
• By end-user, the healthcare segment accounts for the largest revenue share of 53.3% in 2019.
• The global Exoskeleton Wearable Robot market is anticipated to reach $5.2 billion by 2025.
• Due to their short-range and short battery life, exoskeletons are generally used for medical, logistical, and engineering purposes.
• With exoskeletons, businesses can increase their efficiency and productivity as they eliminate the need for completely automated solutions.

Exoskeletons and Insurance

• Exoskeletons could be used to reduce the number of on the job injuries and thus ultimately lead to a decrease in the number of worker compensation claims.
• Exoskeletons are certainly encountering insurance companies and organizations that are responsible for workers' compensation as they are entering the workplace in various industries.
• From the outlook of insurance companies, exoskeletons could lessen injury rates and disability claims.
• In the future, exoskeletons could be instrumental in plummeting working insurance claims for future generations.
•  Cigna, a major insurance provider, has listed exoskeletons such as the ReWalk Personal System as “experimental, investigational, or unproven.