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.

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).

Country-wise, the market is analyzed based on the UK, Germany, France, Italy, Spain, and Rest of Europe. Germany is the major revenue generator in the European market. The country is experiencing healthy growth due to the increasing demand for neural implants at a rapid rate owing to the significant rise in the prevalence/incidence of several neural disorders. Also, in Germany, more than 20% of the population is aged above 60 years. The older population is more likely to develop various diseases such as PD, chronic pain, and other compared to the general population. Back pain is highly prevalent in the country and is a major public health burden. Epidemiological studies reported around 48% of men suffer from lower back pain, of which around 29% are aged 65 years and above.

Lastly, most of the companies offer a diverse range of neural implants in the region. For instance, in January 2020, Medtronic’s Percept PC received CE Mark approval. Another key player, Abbott, gained CE Mark for its St. Jude Medical Invisible Trial System in June 2015. In addition, in September 2015, Boston Scientific received CE Mark for Vercise PC DBS System, followed by the European launch of its Precision Novi SCS system in June 2015. Another key player, LivaNova, gained CE Mark for the SYMMETRY VNS system in March 2020. Moreover, emerging company SceneRay received CE Mark for Aaxon RND Rechargeable Implantable Neurostimulator Kit for DBS in May 2020.

Research Methodology

The market study of the Europe neural implants market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Europe Neural Implants Market Research and Analysis by Product
2. Europe Neural Implants Market Research and Analysis by Application
3. Europe Neural Implants Market Research and Analysis by End-user

The Report Covers

• Comprehensive research methodology of the Europe neural implants market.
• This report also includes a detailed and extensive market overview with the key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Europe neural implants market.
• Insights about market determinants which are stimulating the Europe neural implants market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.