The European neural implants market is anticipated to grow at a significant CAGR of 7.2% during the forecast period. Europe is the second-largest market for neural implants. Factors such as the rising awareness of ambulatory neural implant devices for neurological disorders coupled with improved healthcare infrastructure, various favorable guidelines, and availability of technologically advanced neural implants are driving the growth of the neural implants market in the region. Germany, France, the UK, Italy, and Spain are the major revenue generators in the region.
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The region, particularly Western Europe, has a sophisticated and established healthcare infrastructure, and people have access to advanced healthcare services, especially for treatment procedures for neurological diseases such as PD, chronic pain, epilepsy, and others. The market in Europe is also growing at a significant rate due to the increasing prevalence of neurological diseases. For instance, in European Union (EU), PD is the most common neurodegenerative condition affecting around 4.5 million people, and PD related costs of treatments and loss of capable labor are estimated to be more than $15 billion annually. As per EU, the incidence of PD is projected to double by 2050, primarily due to the aging population. Around six million people live with epilepsy in the region.
The European neural implants market is segmented based on product, application, and end-user. Based on the product, the neural implants market is segmented deep brain stimulation (DCS), spinal cord stimulation (SCS), and vagus nerve stimulation (VNS). Based on application, the market is classified into Chronic Pain, Epilepsy, Parkinson’s Disease (PD), and others (depression and other movement disorders). Based on end-user, the market is segmented into hospitals, outpatient surgery centers, and specialized neurological centers (SNCs).
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European Neural Implants Market Segmentation
By Product
- Deep Brain Stimulation (DCS)
- Spinal Cord Stimulation (SCS)
- Vagus Nerve Stimulation (VNS)
By Application
- Chronic Pain
- Epilepsy
- Parkinson’s Disease (PD)
- Others (Depression and Other Movement Disorders)
By End-user
- Hospitals
- Outpatient Surgery Centers
- Specialized Neurological Centers (SNCs)
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