The Size of the Europe Nerve Repair and Regeneration Market is valued at USD 2.23 billion in 2022 and estimated to be growing at a CAGR of 11.62%, to reach USD 3.87 billion by 2027 during the forecast period 2022to 2027.
The geriatric population has increased risk for neurological disorders such as stroke, neuropathy, Alzheimer's disease and Parkinson's disease. Its increased sensitivity makes geriatrics a key population for market growth. Accordingly, the growth of the population will ensure a continued and intensified demand for nerve repair and regeneration for the treatment of neurological disorders.
According to the WHO, the world population aged 60 and over was 965 million in 2018 and is expected to increase to 2.25 billion by 2050. According to World Population Prospects 2019, by 2050, one in four residing in Europe may be 65 years of age or older.
In addition, technological advancements in neurological repair, positive reimbursement policies, increased government investment in the development and improvement of healthcare facilities are key drivers for the growth of the Europe nerve repair and regeneration market.
According to Parkinson's UK, in 2018 there were 145,522 people affected by the disease in the country. It is expected to exceed 168,100 in 2027.
Technological advancements involving artificial intelligence has been a backbone to increase the market. Due to the growing demand and potential for these devices, the government has also extended its support to help market grow.
Strict regulations on product approval and a shortage of qualified professionals for neurological repair and regenerative therapies are important factors affecting the growth of the global nerve repair and regeneration market.
Increasing incidence of neurological diseases such as Alzheimer's disease, Parkinson's disease and epilepsy in European region give great opportunities for market growth. According to PubMed, by 2030, 4 million people in Europe will suffer from Parkinson's disease, which is high numbers amongst total number of patients worldwide. In addition, according to the World Bank, healthcare spending is increasing in these countries, supporting the growth of hospitals and day surgery centers in these countries. This is considered to be a positive indicator of market growth as hospitals and outpatient surgery centers are the major end users of nerve repair and regeneration products.
Lack of patient awareness of neurological repair and regeneration is hampering the growth of the nerve repair and regeneration market.
This research report on the Europe Nerve Repair and Regeneration Market has been segmented and sub-segmented into the following categories
In the European region, the maximum market share is in the hands of Germany and France; There has been a growth trend in this region in recent years, due to the increase in nerve related diseases such as Parkinson's disease and epilepsy, as these are the main areas of application of the devices; however, nerve repair by neurostimulation is widely used. The growing incidence of neurological disorders, favorable reimbursement policies and the strong presence of healthcare infrastructure in the region are the major growth factors of the Europe nerve repair and regeneration market.
Germany is expected to dominate the European nerve repair and regeneration market due to the high prevalence of patients, and is expected to grow at the highest growth rate during the forecast period of 2020 to 2027 due to the concentration of various medical device companies that expand their presence in this particular region.
Prominent Companies Operating the Europe Nerve Repair and Regeneration Market Profiled in the Report are Baxter International, AxoGen, Boston Scientific Incorporation, Integra Lifesciences Corporation, Cyberonics, Medtronic, Polyganics B.V., Orthomed S.A.S., Stryker Corporation, and St. Jude Medical.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: email@example.com