Pendred Syndrome (PS) Market Overview
The global Pendred Syndrome (PS) market size was estimated at USD 2.82 billion in 2023 and is projected to reach USD 3.83 billion in 2030 at a CAGR of 4.5% during the forecast period 2023-2030.
Pendred syndrome, often abbreviated to PS, is a rare genetic disorder characterized by a combination of sensorineural hearing loss and thyroid dysfunction. It is named after British physician Vaughan Pendred, who first described the syndrome in the early 20th century. Pendred syndrome is caused by mutations in the SLC26A4 gene, also known as the pendrin gene. This gene codes for a protein called pendrin, which plays a critical role in the transport of ions (charged particles) through the cell membranes of the cochlea and thyroid gland.
The global pendred syndrome market is growing steadily due to the prevalence of pendred syndrome and rising healthcare costs. Growing R&D activity is significantly driving the global flexion syndrome market. Strategic initiatives by major market players are one of the reasons for the rapid growth of the market. Market participants are expanding their product offerings to gain a competitive advantage.
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On the other hand, high cost of the product may hamper the market growth to some extent.
The COVID-19 pandemic potentially disrupted the Pendred Syndrome (PS) market by delaying diagnoses, access to treatment and research. Healthcare disruptions, supply chain challenges and changing priorities may have hindered patient care and research. Telehealth adoption has increased, but may not completely replace the need for in-person care. The wider financial impact of the pandemic may also have affected funding for research and patient support networks, affecting progress in understanding and treating Pendred syndrome.
Delvens Industry Expert's Standpoint
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. The Rising incidence of Pendred syndrome, a genetic disorder characterized by hearing loss and thyroid dysfunction, is a major driver of the market. Growing awareness and improved diagnostic methods are helping to identify and diagnose more cases, increasing the demand for treatment and care. Advances in genetic testing techniques and technologies have enabled a more accurate and efficient diagnosis of Pendred syndrome. Genetic testing plays a critical role in identifying genetic mutations associated with Pendred syndrome, facilitating early detection and individualized treatment strategies. These factors have led to the expansion of the market and increased demand for Pendred Syndrome (PS) solutions.
Key Findings
- The Treatment segment is further fragmented into Cochlear Implant, Hearing Aids, and Radioactive Iodine. The Cochlear Implant segment is expected to account for a larger market size during the forecast period. Cochlear implants are electronic devices that are surgically implanted into the inner ear to provide a sense of sound for individuals with severe to profound hearing loss. In Pendred Syndrome, where sensorineural hearing loss is a common feature, cochlear implants can be considered for those who do not significantly benefit from conventional hearing aids.
- The diagnosis segment is further bifurcated into Genetic Testing, Perchlorate Washout Test, and Others. The Genetic Testing is the largest market during the forecast period. Genetic testing is a crucial tool in diagnosing Pendred Syndrome. This involves analyzing the DNA of an individual to identify mutations in the SLC26A4 gene, which is associated with the syndrome. Genetic testing can confirm the presence of mutations that lead to abnormal functioning of the pendrin protein. Identifying these mutations can help establish a definitive diagnosis of Pendred Syndrome.
- The End- Users segment is further bifurcated into Hospitals, Homecare, Specialty Clinics, Otolaryngologist, and Others. The Hospitals is the largest market during the forecast period. Hospital-based otolaryngologists (ear, nose, and throat specialists) can assess the severity of hearing loss, conduct inner ear imaging, and provide guidance on treatment options, including hearing aids and cochlear implants. Hospitals also facilitate communication and collaboration between different medical specialists involved in the care of individuals with Pendred Syndrome.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period owing to the rising healthcare costs, increased R & D, and trending technological advancements.
Pendred Syndrome (PS) Market Regional Analysis
North America to Dominate the Market
- North America is estimated to account for the largest market share during the forecast period due to rising healthcare costs, increased R & D, and trending technological advancements.
- Moreover, Moreover, growing focus of major key players on further R&D will further propel the market’s growth rate in this region.
Pendred Syndrome (PS) Market Competitive Landscape
- Nobel pharma Co.,Ltd
- Sensorion
- Advanced Bionics AG
- MED-EL Medical Electronics
- Cochlear Ltd
- Sonova
- GAES
- Demant A/S
- Nurotron Biotechnology Co. Ltd
- GN Store Nord A/S
- Amplifon
- Audina Hearing Instruments, Inc.
- ElkonPvt Ltd
- Rion Co. Ltd
- Starkey
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Pendred Syndrome (PS) Market Recent Developments
- Biotechnology Companies: Biotechnology companies may focus on advancing gene therapy approaches for Pendred Syndrome. This includes research into gene editing technologies, viral vectors, and delivery mechanisms to correct or replace the faulty SLC26A4 gene in affected individuals.
- Research Institutions and Academia: Academic institutions and research organizations play a significant role in studying rare genetic disorders like Pendred Syndrome. Their contributions may include conducting studies to understand the underlying mechanisms of the disease, exploring potential therapeutic targets, and collaborating with industry partners to translate research findings into clinical applications.
Reasons to Acquire in the Pendred Syndrome (PS) Market
- Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for the Pendred Syndrome (PS) Market to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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