Pendred Syndrome (PS) Market by Treatment (Cochlear Implant, Hearing Aids, and Radioactive Iodine) Route of Administration (Oral, Implantation), Diagnosis (Genetic Testing, Perchlorate Washout Test, and Others), End- Users (Hospitals, Homecare, Specialty Clinics, Otolaryngologist, and Others) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
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.
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.
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.
North America to Dominate the Market