Europe Nerve Repair & Regeneration Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Neurostimulation & Neuromodulation Devices {Internal Neurostimulation Devices [Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve St

Europe Nerve Repair & Regeneration Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Neurostimulation & Neuromodulation Devices {Internal Neurostimulation Devices [Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, and Gastric Electrical Stimulation] and External Neurostimulation Devices [Transcutaneous Electrical Nerve Stimulation Devices, Transcranial Magnetic Stimulation Devices, Respiratory Electrical Stimulation Devices]} and Biomaterials), and Application (Neurostimulation & Neuromodulation Applications {Internal neurostimulation & neuromodulation, and External neurostimulation & neuromodulation}, and Nerve Repair & Regeneration Applications {Direct Nerve Repair/Neurorrhaphy [Epineural Repair, Perineural Repair, and Group Fascicular Repair], Nerve Grafting [Autografts, Allografts, and Xenografts], and Stem cell therapy})

The nerve repair & regeneration market in Europe is expected to grow from US$ 1,537.23 million in 2022 to US$ 2,709.29 million by 2028; it is estimated to grow at a CAGR of 9.9% from 2022 to 2028.

Rising Prevalence of Age-associated Neurological Disorders among Geriatric Population Boosts Europe Nerve Repair & Regeneration Market Growth

Some neurologic disorders such as neuropathy, Alzheimer's disease, Parkinson's disease, and strokes are more common in the elderly, and their prevalence is increasing with higher life expectancies. According to the WHO, the population is aging rapidly worldwide. Between 2015 and 2050, the world's population over 60 years will nearly double, from 12% to 22%, and mental and neurological disorders among older adults are likely to account for 6.6% of the total disability-adjusted life year (DALYs) for this age group. Also, as per the same source, approximately 15% of adults aged 60 and over have a mental disorder. The death rate due to neurological disorders is also increasing. For instance, according to the Alzheimer's Association, 1 in 3 seniors dies with Alzheimer's or dementia. Therefore, rising prevalence of age-associated neurological disorders increases demand for treatment of nerve repair & regeneration. This factor is propelling the growth of nerve repair & regeneration market.

Market Overview

The Europe nerve repair & regeneration market is further segmented into Germany, France, Italy, Spain, the UK, and the Rest of Europe. The Europe nerve repair & regeneration market growth is attributed to the growing geriatric population, increasing incidence of neurological disorders, high incidence of nerve injuries, and rising government support for neurological disorder studies. According to the German Alzheimer Society, in 2021, ~1.6 million people in Germany had dementia, and ~300,000 new cases are detected every year. Furthermore, the aging population is expected to increase from 2.4 in 2021 to 2.8 million by 2050, which is a major cause of dementia. Similarly, Parkinson’s disease is the second most common neurodegenerative disorder, which causes disability and movement disorder. According to Acta Neurologica Scandinavica, the number of people diagnosed with Parkinson’s disease will be doubled by 2050 in Europe. According to the German Society of Neurology, the prevalence of Parkinson’s disease is 1800 in every 100,000 persons. To control the growing prevalence of neurological disorders, the German Center for Neurodegenerative Diseases (DZNE) is investigating the major cause of nervous system diseases and various approaches for prevention, therapy, and care. Further, the DZNE, in collaboration with their university partners, promotes young researchers in studies of neurological disorders. Thus, the growing prevalence of neurological diseases and government-supported initiatives to combat the disease are driving the growth of the Europe nerve repair & regeneration market.

Europe Nerve Repair & Regeneration Market Revenue and Forecast to 2028 (US$ Million)

Europe Nerve Repair & Regeneration Market Segmentation

The Europe nerve repair & regeneration market is bifurcated on the basis of product and application.

Based on product, the Europe nerve repair & regeneration market is segmented into neurostimulation and neuromodulation devices and biomaterials. The neurostimulation and neuromodulation devices segment accounted for a larger market share in 2022. Based on application, the Europe nerve repair & regeneration market is bifurcated into neurostimulation & neuromodulation applications and nerve repair & regeneration applications. The nerve repair & regeneration applications segment held a larger market share in 2022. Based on country, the Europe nerve repair & regeneration market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Further, Germany dominated the market in 2022.

Axogen Corporation, Boston Scientific Corporation, Integra LifeSciences, Medtronic, Abbott Laboratories, Stryker Corporation, Neuronetics, LivaNova PLC, Baxter, and Polyganics BV are the leading companies operating in the nerve repair & regeneration market in Europe.

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