Test Strip Market Is Seeing Explosive Growth by Future Industry Winners: Forecast, 2020-2027

 Test strip is a type of diagnostic devices which is the most important tools in Point of Care (POC) diagnostics. These test strip helps to achieve rapid diagnosis of various critical diseases such as urinary tract infection (UTI), liver disease, kidney diseases, diabetes test, ophthalmic disease and others with precsion. Test strips are widely used for monitoring the blood glucose level in the diabetic patients. As per world Health Organization (WHO), it was estimated that in 2016, 420 million adult population is suffering from diabetes all over the world will and the number is expected to reach 625 million till 2040.

The global test strip market is growing with the dynamic pace. The global test strip market is expecting a sound growth at a CAGR of 12.8% during the forecasted period. Increasing prevalence of diabetes, and other urinary tract diseases has supported the growth of this market. According to a recent study report published by the Market Research Future, The global test strip market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2021, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period.

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The market is expected grow with the same trends during the forecast period. The major drivers supporting the growth of the market will be presence of huge diabetic patient population in Asia Pacific region like India and China. According to WHO (2014), 60% of the world’s total diabetic population lives in Asia region. Moreover, the global test strip market is driven by rising geriatric population, and rapid development in the test strips has driven the growth of the market. Moreover, changing lifestyle, and government initiatives for encouragement for the research & development has fuelled the market growth. On the other hand, availability of alternative methods for diagnosis like saliva collection devices has restrained the growth of global test strip market.

Global Test Strip Market - Competitive Analysis

The test strips are based on various technologies such as electrochemical and photometric. Majority of the test strips are based on electrochemical technology. The photometric technology market is expected to witness the highest growth. Roche Diagnostics, Lifescan, Inc., Abbott Laboratories, and Bayer are the leading players in the test strip market, by volume. These players possess state of art manufacturing facilities and strong sales and distribution network which have helped them to gain leadership position in the market. The other prominent players include Arkray Inc., Ascensia Diabetes Care Holdings Ag, B. Braun Melsungen AG, Chiltern Medicare Ltd, Henry Schein, Lifeassay Diagnostics (Pty), Siemens Healthcare, Taidoc Technology Corporation, and Teco Diagnostics among others are some of the small players that accounts a reasonable amount of share in the test strip market.  

The global test strip market is highly fragmented with the presence of many local players and international players. As a result, local players are focus on cost reduction and innovation to ensure sustainability. In addition, the international players implemented growth strategies through FDA approvals, collaborations to expand their overall market share. For instance, Abbot a leading player in the test strip market has received US Food and Drug Administration (FDA) clearance for its new product FreeStyle Lite blood glucose test strips that minimizes the interference during blood glucose testing, hence is fabricated for a better testing experience. This will help Abbott to create an impact on the patient pool and will help to increase its sales by volume.

Hoffmann-La Roche Ltd, Swiss multinational healthcare company focuses on the development and distribution of test strips. For this, in June 2017, Roche has acquired mySugr to form a leading open platform for digital diabetes management. Hence, the growing mergers and acquisitions, new product launches in the field of test strip has upsurged the growth of the market.

Hoffmann-La Roche Ltd (Switzerland), Siemens Ltd. (Germany), Abbott (US), B. Braun (Germany), LifeScan, Inc. (US), Chiltern MediCare Ltd. (US), Henry Schein, Inc. (US), Lifeassay Diagnostics (South Africa), Siemens Healthcare Private Limited (Germany), ARKRAY Inc. (US), Ascensia Diabetes Care Holdings AG. (Switzerland), TaiDoc Technology Corporation (Taiwan), Teco Diagnostics (US) are some of the prominent players at the forefront of competition in the Global Test Strip Market and are profiled in MRFR Analysis.

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Future of COVID-19 Sample Collection Kits Market Analyzed in a New Study 2027

 Market Highlights

According to MRFR analysis, the Global COVID-19 Sample Collection Kits Market is expected to register a CAGR of 5.20% during the forecast period of 2020 to 2027 and reach USD 4168.35 Million by 2027.

Sample collection usually takes place in a doctor’s room or in a testing laboratory collection center where there are trained specimen collectors who perform the testing services.

The growth of the global COVID-19 sample collection kits market can be contributed for the high demand of sample collection kits, due to the outbreak of COVID-19 globally, and approval of new and advanced detection tests by regulatory authorities.

Furthermore, a rise in the detection of antibodies, an increase in government funding, and a large volume of products & usage rate of swabs are also expected to boost the market growth during the forecast period.

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However, a shortage of test-related supplies such as reverse transcription-polymerase chain reaction instruments, swabs, and virus control samples to control COVID-19, and lack of laboratory-based reagents are expected to restrain the growth of the global COVID-19 sample collection kits market.

Several market players such as Medline Industries, Inc., COPAN Diagnostics, and Becton, Dickinson, and Company, among others, currently dominate the global COVID-19 sample collection kits market.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas region held the largest market in 2020, owing to the outbreak of COVID-19 in the region. The COVID-19 sample collection kits market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European COVID-19 sample collection kits market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The COVID- 19 sample collection kits market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Asia-Pacific region is expected to be the fastest-growing region. The COVID -19 sample collection kits market in the Middle East & Africa has been divided into the Middle East and Africa.

Segmentation

The global COVID-19 sample collection kits market has been segmented based on the product type, application, and end user.

On the basis of product type, the market has been segmented into swabs, viral transport media, blood collection kits, and others. The swabs segment is anticipated to be the fastest-growing segment. The swab segment is further divided into nasopharyngeal swabs and oropharyngeal swabs. The Centers for Disease Control and Prevention (CDC) has recommended collecting only nasopharyngeal swabs for testing the sample. The viral transport media is the largest growing segment.

Based on application, the market has been segmented into diagnostic, and research. The diagnostic segment is expected to be the fastest-growing, while the research segment is the largest growing segment.

The market based on end user has been segmented into hospitals & clinics, diagnostics centers, and others. The diagnostic center is anticipated to be the fastest-growing segment. The largest growing segment is hospitals & clinics.

Key Players

Some of the key players in the global COVID-19 sample collection kits market are Thermo Fisher Scientific, Inc. (US), Hardy Diagnostics (US), BNTX Inc. (Germany), Formlabs (US), Medline Industries, Inc. (US), HiMedia Laboratories (India), VIRCELL S.L. (Spain), Puritan Medical Products (US), COPAN Diagnostics (California), Becton, Dickinson, and Company (US), Laboratory Corporation of America Holdings (US), Lucence Diagnostics Pte Ltd. (California)

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Life Science Analytics Market Foraying into Emerging Economies 2020-2027

 According to MRFR analysis, Life Science Analytics Market is expected to register a CAGR of 11.91% during the forecast period of 2019 to 2025 and was valued at USD 19,165.22 Million in 2018.

Life science analytics is a tool that helps in clinical trials standardization and optimization of the drug discovery process.

The growth of the global life science analytics market can be contributed to growing pressure to curb the healthcare expenditure, need for improved data standardization, and increasing prevalence of chronic diseases. Furthermore, the growing adoption of analytics solutions in clinical trials, increasing adoption of analytics tools for sales & marketing applications, the need for improved patient outcomes, and rising adoption of big data in the life science industry are also expected to fuel the market growth during the forecast period. However, high implementation costs and lack of skilled professionals have expected to restrain the growth of the global life science analytics market.

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Several market players such as Allscripts Healthcare, LLC, Cerner Corporation and McKesson Corporation currently dominate the global life science analytics market. The key players are involved in product launches and acquisitions to strengthen their market positions. For instance, in January 2018, Allscripts acquired Practice Fusion for USD 100 million. This acquisition further advance Allscripts’ strategy to offer comprehensive, high performing health information technologies and solutions.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas region held the largest market in 2018, owing to the presence of major market players in the region. The life science analytics market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European life science analytics market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The life science analytics market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the rapidly developing life sciences industry, the market in Asia-Pacific is expected to be the fastest-growing. The life science analytics market in the Middle East & Africa has been divided into the Middle East and Africa.

Segmentation

The Global Life Science Analytics Market has been segmented based on the type of analytics, application, component, deployment model, and end-user.

Based on the type of analytics, the global life science analytics market has been segmented into predictive analytics, descriptive analytics, and prescriptive analytics. The descriptive analytics segment held the largest market share in 2018 owing to its high preferability by the life science companies, as these solutions help in understanding the past trends.

The global life science analytics market, based on application, has been segmented into research & development, pharmacovigilance, regulatory compliance, sales & marketing, and supply chain optimization. The research & development segment is further sub-segmented into clinical trials and preclinical trials. The research & development segment held the largest market share in 2018 owing to the rising usage in R&D activities for the development of innovative life science products.

The global life science analytics market has been segmented based on component, as software, services, and hardware. The software segment is held the largest market share in 2018 owing to the rising adoption of analytics software in the life science industry.

The global life science analytics market has been segmented, on the basis of deployment model, into on-premise and cloud-based. The on-premise model held the larger market share in 2018 owing to its user-friendly approach.

The market based on end-user has been segmented into hospitals & clinics, pharmaceutical, biotechnology & medical device companies, and others. Hospitals & clinics segment held the largest market share in 2018 as it helps to minimize the clinical errors and increases healthcare productivity.

Key Players

Some of the Key Players in the Global Life Science Analytics Market are Allscripts Healthcare, LLC (US), Cerner Corporation (US), CitiusTech Inc. (US), Health Catalyst (US), Inovalon (US), McKesson Corporation (US), Saama Technologies, Inc. (US), Optum, Inc. (US), SCIOInspire, Corp. (US), SAS Institute Inc. (US), IBM (US), Oracle (US), and IQVIA (US).

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Global Pharmacy Management System Market Industry Production and Demand, Competition News and Trends Forecasts to 2027

 Pune, Maharashtra, India:

According to MRFR analysis, Pharmacy Management System Market is expected to register a CAGR of 11.55% during the forecast period of 2019 to 2025 and held a value of USD 37,233 Million in 2018.

The pharmacy management system enables pharmacists to deliver well-organized professional as well as personalized care based on the needs and requirements of the patients. Tools such as eligibility checking, price updates, prior authorization, prescription monitoring program reporting, clinical updates with drug images and prescriber updates, imprints, remote backup, and many other activities are involved in the pharmacy management system solutions.

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The growth of the global pharmacy management system market is boosted by various factors such as rising activities in terms of mergers, joint ventures, acquisitions, partnerships, by key players operating in the market, coupled with the increasing number of prescriptions. For instance, in August 2019, GE Healthcare launched a startup collaboration program, Edison[X], which will work with startups in India to develop solutions to aid patient outcomes and pharmacy practices. However, compound features such as vendor lock-in create a dependency for pharmacists, which complexifies the onboarding of another vendor, which can hinder the preference of such solutions by pharmacists. This can hamper the growth of the market during the forecast period.

Several market players currently dominate the global pharmacy management system market. The key players are involved in product launches and strategic collaborations to strengthen their market positions. For instance, in February 2019, SRS Pharmacy Systems partnered with STRAND Clinical Technologies to innovate clinic building services, which aims to help pharmacies to launch clinic services within their community.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas held the maximum share in the base year 2018, owing to the presence of established key players in countries such as the US and Canada. The pharmacy management system market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European pharmacy management system market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The pharmacy management system market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The pharmacy management system market in this region is anticipated to be the fastest-growing during the assessment period due to the increased adoption rate of pharmacy management software by local pharmacy facilities in the Asian countries. The pharmacy management system market in the Middle East & Africa has been divided into the Middle East and Africa.

Segmentation

The Global Pharmacy Management System Market has been segmented based on solution type, component, deployment mode, and end-user.

The market, based on solution type, has been divided into pharmacy inventory management systems, pharmacy data management systems, pharmacy compounding software systems, pharmacy benefits management systems, pharmacy revenue cycle management systems, and others. The pharmacy inventory management system segment is likely to be the largest due to the increased usage of such solution for the proper management of pharmacies. The pharmacy data management system segment is predicted to be the fastest-growing due to the increasing awareness about the advantages of such solutions.

The Global Pharmacy Management System Market has been segmented, based on the component, into software, hardware, and services. The software segment is expected to hold the majority share of the market owing to the increasing number of solution launches. The hardware segment is expected to be the fastest-growing due to the increased use of hardware in the pharmacy management activities.

The Global Pharmacy Management System Market, based on the deployment model, has been segmented into cloud/web-based, and on-premise. The cloud/web-based segment holds the maximum share owing to the rise in the launch of cloud-based solutions in recent years. The on-premise segment is anticipated to be the fastest-growing during the assessment period due to the high usage of on-premise solutions.

The end-users of the market are inpatient pharmacies and outpatient pharmacies. The market for inpatient pharmacies has been further divided into acute care settings and long-term care facilities. The market for outpatient pharmacies has been bifurcated into fast-track clinics and hospital retail settings.

Key Players

Some of the Key Players in the Global Pharmacy Management System Market are Allscripts (US), Cerner Corporation (US), Datascan (US), McKesson (US), Epicor Software (US), GlobeMed Group (Lebanon), ScriptPro (US), Clanwilliam Liberty Software (US), LS Retail (Iceland), MedHOK (US), Octal IT Solution LLP (US), Safe care Technology (UAE), Health (Ireland), Mobile MedSoft (US), and Health Business Systems (US).

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.j

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Retinal Implants Market Revenue and Value Chain 2020-2027

  Global Retinal Implants Market likely to exhibit a healthy growth over the next couple of years. Retinal implants have emerged as an innovative technology in the field of ophthalmology. They are being used for improving eyesight of people with partial or complete blindness. The technology is still in its nascent stage hence a mixed speculation continues to hover around it. Investment in retinal implants and prostheses R&D has increased in recent years owing to their immense market potential. Several private eyecare companies have entered the frame and are focusing on introducing more effective retinal implants. Majority of retinal implants that are currently available in the market are aimed at partially restoring useful eye vision. Such implants are effective in treating vision loss caused due to age-related macular degeneration (AMD) and retinitis pigmentosa (RP). Visual devices such as bionic eye and visual prosthesis are expected to have bigger impact in years to come, which in turn will pave the way for retinal implant market.

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Report Synopsis

This MRFR report offers a thorough analysis of the global retinal implants market. The primary objective of the report is to analyze the current market landscape and its future potential. All the relevant parameters have been considered for market analysis. The report also includes a discussion on the growth opportunities, drivers and restraints. 

Competition Tracking

Philips Healthcare, Retina Implant AG, Second Sight Medical Products, Inc. Bionic Eye Technologies, Inc., Bionic Vision Australia, VisionCare Ophthalmic Technologies, Inc, Abbott Vascular.

The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.

Segmentation

The global retinal implants market has been segmented into device type, disease indication, and end user. By device type, the market has been segmented into retina implant alpha AMS, Argus II, implantable miniature telescope, and others.  By disease indication, the market has been segmented into age-related macular degeneration (AMD) and retinitis pigmentosa. By end user, the market has been segmented into multi-specialty hospitals, ophthalmic clinics, and research institutes.

Regional Analysis

North America, Europe, Asia Pacific, and the Rest of the World are the key markets for retinal implants. North America accounts for a substantial share of the global market. Higher availability of the product, improving reimbursement scenario and higher affordability in the region supports the growth of the North America market for retinal implants. Presence of highly skilled surgeons to perform immensely complex surgical procedure also accelerates adoption in the region.

In Europe, the market is driven by an increase in R&D activities and the expansion of clinical trials.

Presence of developing countries such as India, China, and Japan, who outlay massive amounts on healthcare expenditure, coupled with growing disposable income and affordability supports the growth of the market in Asia Pacific.

Rest of the World market is expected to fare well in the coming years since various market players are foraying into the untapped regions to leverage the potential they offer for market expansion.

Research Methodology

Market Research Future (MRFR) employs a multi-layered analysis module for presenting accurate industry outlook. The combination of primary and secondary research processes for analysis of governing factors and macro-economic indicators of the market. Detailed surveys and interviews are conducted with key opinion makers across the value chain for collection of primary data. Secondary research processes are leveraged for verification of collected data through valuable inputs from SEC filings, white paper references, paid databases, research publications and other credible sources available in public domain. Additionally, top-down and bottom-up approaches are utilized to extrapolate data, which is then verified using a powerful data triangulation technique. These comprehensive research methods ensure accuracy and objectivity of the market foresight.

For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for petroleum coke (fuel-grade)

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Rhabdomyosarcoma Market: Drivers, Restraints, Opportunities, and Threats (2020-2027)

  The global rhabdomyosarcoma market is expected to grow significantly over the forecast period. It is estimated that the global rhabdomyosarcoma market is expected to register a CAGR ~ 4.8 % during the forecast period of 2018–2023. Rhabdomyosarcoma is a type of cancerous tumor that starts to develop in the soft tissues of the body. Cells affected by rhabdomyosarcoma can grow and spread very fast.

Numerous factors such as raising awareness of rhabdomyosarcoma and its increasing prevalence are expected to drive the growth of the market.

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Moreover, favorable healthcare investments by government and the rising demand for better treatments boosts the growth of the market. However, stringent government regulation for product approval and huge costs of the treatment may hamper the market growth during the assessment period.

Segmentation

The global rhabdomyosarcoma market has been segmented into type, diagnosis, and treatment.

The market, on the basis of type, has been segmented into Embryonal Rhabdomyosarcoma and Alveolar Rhabdomyosarcoma.

The market, by diagnosis, has been segmented into Imaging Tests and Biopsy.

Imaging tests are further segmented into X-Ray, MRI scan, CT scan, PET scan, and Bone Scan.

Biopsy is further segmented into Needle Biopsy and Surgery Biopsy.

The market, by treatment, has been segmented into Surgery, Radiation Therapy, Chemotherapy and Stem Cell Therapy. Chemotherapy is expected to account for the largest market share due to its effective treatment for minimizing the risk of cancer reoccurrence and high preference among the patients. Radiation therapy is anticipated to be the fastest growing segment due to technological advancements in the segment.

The market, by region, has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The rhabdomyosarcoma market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European rhabdomyosarcoma market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The rhabdomyosarcoma market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The rhabdomyosarcoma market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key players

Boehringer Ingelheim International GmbH, Pfizer Inc, Eli Lilly & Company, Novartis AG, Bristol Myers Squibb Company, TAIHO ONCOLOGY, INC., Oasmia, Bellicum Pharmaceuticals, Inc., CELGENE CORPORATION, Eisai Co., Ltd., MacroGenics, Inc., NantKwest., Tarveda Therapeutics., Exelixis, Inc., and Ipsen Pharma are some of the key players in the global rhabdomyosarcoma market.

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Oral Thin Film Drugs Market: Recent Industry Trends and Projected Industry Growth, 2020– 2027

  Oral thin films (OTF) are an innovative method discovered by pharmaceutical scientists for delivering drugs orally or bucally (absorption or dissolution in the mouth). OTF drugs have gained popularity owing to its rapid dissolution on contact with saliva. The global oral thin film drugs market is predicted to exhibit an 8.10% CAGR from 2019 to 2027 (forecast period), as per the latest report by Market Research Future (MRFR). This can be credited to the expanding geriatric population and their need for advanced drug delivery methods to keep chronic diseases such as diabetes at bay. Continuous investment in research and development (R&D) by companies to create easily dissolvable solutions for other diseases is expected to spur market growth over the forecast period. Introduction of OTF drugs in developing countries can act as a good revenue source for the OTF drugs market.

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Report Overview

The report provides an accurate overview of the market complete with statistical graphs to support the forecasted figures. Our analysts make insightful predictions regarding the scope of the market and its future prospects. MRFR’s report includes a thorough analysis of the global oral thin film drugs market segmented on the basis of product, disease indication, distribution channel, and region. Numerous growth strategies undertaken by companies as well as the latest trends driving the market are outlined in the report. The market share of all prominent players and their current position is discussed in minute detail. It analyzes new revenue sources for players and emphasizes on the various strategies implemented by players.

Segment Overview

The global oral thin film drugs market is segmented by product, disease indication, and distribution channel. By product, the market is divided into sublingual and fast dissolving buccal film.  By disease indication, the market is segmented into opioid dependence, migraine, schizophrenia, and nausea and vomiting, and others. Distribution channel discussed in the report include hospital pharmacies, retail pharmacies, online drug stores, and others. The segments covered in the oral thin film drugs market report are analyzed with respect to four main regions namely – Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA), with respective country-level market sizing. The report discusses in detail the various players residing in these regions and their respective strategies to climb up the market ladder.

Competitive Landscape

Prominent players in the oral thin film drugs market include Johnson & Johnson Services, Inc. (U.S.), Pfizer Inc. (U.S.), CURE Pharmaceutical (U.S.), Novartis AG (Switzerland), LTS Lohmann Therapie-Systeme AG (Germany), GlaxoSmithKline Plc (U.K.), and Indivior Plc (U.S.).

The report offers a comprehensive analysis on the profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, expansion techniques, and latest R&D initiatives are discussed in minute detail.

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