sed not replacing

Data not replacing using sed,please check below.

Replace_value=$$dbconn_target
Search_value=$$dbcon_source

sed -e s/\${Search_value}/\${Replace_value}/g intrepid_sps_val.parm

Use double quote :

sed "s/$old/$new/g" infile
$ old=" test"
$ new="n example"
$ echo 'this is a test for kata'
this is a test for kata
$ echo 'this is a test for kata' | sed "s/$old/$new/"
this is an example for kata

You may need to escape your variable assignments as e.g. replace_value will hold your PID plus the string "dbconn_target".