Yes, there are a variety of ways for your fishing rod to be repaired. Just because it is broke, it does not mean you have to buy a new one or replace it. However, not every part on a fishing rod can be replaced. Clearly, if the rod itself breaks, you will have to purchase a new one, as there is no good way to fix a graphite rod. You can glue it back together, but the tensile strength of the rod will be lost, and more than likely it will break again in the same spot, as that spot is made weaker by the break.
But, when it comes to replacing almost every other part, it can be replaced or improved upon. Whether it is your guides, your reel line, the handle or your grips, they can all be replaced or upgraded. As long as your fishing rod stays durable, then you can continue to use it for as long as you want, and as long as it is a good and viable option for you for the type of water you fish within. The more a rod age, the weaker it does become, so you will need to be aware of the strength of your rod, and if you see it weakening over time, you will need to replace it.