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Cardiac Biomarker Diagnostic Kits Market - Brief Analysis by Top Key Players

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Transparency Market Research (TMR) has published a new report titled “Cardiac Biomarker Diagnostic Kits Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” According to the report, the global cardiac biomarker diagnostic kits market was valued at US$ 2,100 Bn in 2017. It is projected to expand at a CAGR of 5.3% from 2018 to 2026. Rise in number of patients with cardiovascular diseases globally is a major factor driving the cardiac biomarker diagnostic kits market. Cardiovascular diseases (CVDs) are the leading cause of deaths across the world. According to the World Health Organization (WHO), CVDs accounted for over 17.7 million deaths in 2015, which represents 31% of the total deaths globally. The number of deaths due to cardiovascular disease is expected to be more than 23.6 million by 2030. Rise in the number of deaths associated with cardiovascular disease is likely to add to the cost of management of the disease. The global burden due to cardiovascular disease was US$ 863 Bn in 2010, which is expected to increase to US$ 1,044 Bn by 2030. 

The report offers detailed segmentation of the global cardiac biomarker diagnostic kits market based on disease indication, product, testing, and end-user. The market has also been segregated based on region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). The troponin segment is likely to drive the global market. Key players are tapping opportunities to introduce high sensitive troponin biomarker, which is becoming a preferred choice for the diagnosis of heart attack, thereby driving the cardiac biomarker diagnostic kits market. 

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Troponin segment hold leading position as key revenue generating segment

The global cardiac biomarker diagnostic kits market has been segmented based on test type, disease indication, product, end-user, and region. Based on product, the market is categorized into troponin test kits, bnp test kit, CK-MB test kits, myoglobin test kits, c-reactive protein (hsCRP), and others (galectin-3, H-FABP, myeloperoxidase, ischemia-modified albumin, and homocysteine). In terms of disease indication, angina pectoris, myocardial infraction, cardiac heart failure, and others are major segments of the global cardiac biomarker diagnostic kits market.

Based on product type, the troponin segment accounted for a prominent share of the global cardiac biomarker diagnostic kits market in 2017. This segment is expected to maintain its leading position in the global market during the forecast period. Key factors driving the market include an increase in prevalence of various types of cardiac diseases and rise in incidences of cardiac related diseases to the vital organs. Toponin possess fast processing abilities and provides quality results, as compared to other tests. Consequently, it is being highly preferred by healthcare specialists. 

Based on disease indication, the angina pectoris segment held a notable share of the global cardiac biomarker diagnostic kits market in 2017. This segment is expected to expand during the forecast period owing to an increase in the prevalence of angina pectoris across globe, rise in instances of cigarette smoking among the global population, and increase in the geriatric population. Moreover, several technological advancements are occurring with regards to decreasing side-effects associated with biomarkers tests and early detection of the illness. These advancements too are driving the demand for cardiac biomarker diagnostic kits globally. 

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North America estimated to remain triumphant owing to high presence of cardiac disease

In terms of region, the global cardiac biomarker diagnostic kits market has been segmented into Asia Pacific, Europe, Middle East & Africa, Latin America, and North America. North America dominated the global market in 2017, owing to increasing healthcare expenditure leading to a rise in demand for better diagnostic tests and health care services, and widespread technological advancements in the field of cardiac biomarkers occurring in the region. However, the market in Asia Pacific is projected to expand at a significant pace by 2026, due to the availability of a large patient pool and increasing awareness about deadly healthcare concerns. Additionally, high percentage of geriatric population and increasing disposable incomes are also expected to propel the market in the region..

Revenues of key players to be driven by advanced point-of-care (PoC) cardiac biomarker tests 

Major players operating in the global cardiac biomarker diagnostic kits market are Abbott Laboratories, Hoffmann-La Roche AG, Bio-Rad Laboratories, Danaher Corporation, Siemens Healthineers, Thermofisher Scientific, bioMérieux, Randox Laboratories Ltd., and Ortho Clinical Diagnostics. They account for a significant share of the global market. The market is characterized by a large number of acquisitions, which has led to market consolidation and increasing dominance of top players. In 2017, Abbott completed its acquisition of Alere, concluding a deal first announced in February 2016. Abbott Laboratories, Hoffmann-La Roche AG, and Siemens Healthineers hold the major share of the global cardiac biomarker diagnostic kits market.

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posted Feb 10 by Bella Watson

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Optogenetics is a technique to control well defined cell events in living tissues. In optogenetics, cells are controlled with the combination of genetics and optics. For this, the cells are first genetically engineered and modified by expressing a light sensitive opsin, such as, G protein-coupled receptor, pump, or ion channel.

Light of correct frequency is illuminated on genetically engineered cells to make them undergo conformational changes, such as, silencing or neural activation, hyperpolarization or cell depolarization, or pump activation or channel opening. Optogenetics has great scope and is being widely used in the field of neuroscience. Neural dysfunction, which causes Parkinson’s disease, mood disorders, anxiety, depression, addiction, cardiac disorders, memory disorders, and others can be altered and cured by optogenetics.

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According to the Parkinson’s Foundation, around 60,000 people are diagnosed with Parkinson’s disease every year in the U.S. and more than 10 million people are suffering from the disease worldwide. According to the World Health Organization, more than 300 million people are suffering from depression globally. Depression is a major cause of disabilities and suicides, leading to around 800,000 suicidal cases all over the world.

As per the Mental Health Foundation in the U.K., in 2014, around 19.7% people over the age of 14 years suffered from depression, which was around 15% higher than it was in 2013. The organization also estimated that in 2013, there were around 8.2 million cases of anxiety in the U.K. According to the American Addiction Centers, in 2014, around 7 million people in America suffered from drug use disorder and 8 million adults suffered from mental health disorders due to addiction.

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Increasing prevalence of Parkinson’s disease and other neurological dysfunctions worldwide is driving the optogenetics market. Other factors fuelling the market growth are increasing government support, technological advancements, and rise in the number of people suffering from anxiety, depression, mood disorders, and addiction globally. According to a report published in the National Center for Biotechnology Information (NCBI), in 2014, around 240 million people in the world suffered from alcohol addiction disorders.

Apart from this, around 22.5% adults were addicted to tobacco smoking and 3.5% to cannabis smoking. In an attempt to reduce the percentage of disability caused by addiction behavior, anxiety, and depression, government is supporting the use of advanced technologies, such as, optogenetics for treatment of these disorders, which is boosting the growth of the optogenetics market. However, high cost of optogenetics is restraining the market growth in developing as well as underdeveloped countries.

Further, several studies suggest that the blue light used in the optogenetics experiment alters gene expression in microglia, which are the immune cells of brain. This is also anticipated to hamper the growth of the optogenetics market during the forecast period. Moreover, lack of awareness regarding neurological disorders and limited technological growth in developing countries are likely to restrain the growth of the optogenetics market growth.

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The global optogenetics market can be segmented based on product type and application. On the basis of product type, the market can be further divided into actuators, sensors, and light instruments. Actuators can be classified into halorhodopsin, archaerhodopsin, and channelrhodopsin. Sensors can be categorized into GCaMP, cameleon, chloride (clomeleon), membrane gated (mermaid), and aequorin. Light instruments can be bifurcated into lasers and LEDs. Based on application, the optogenetics market can be segmented into retinal disease treatment, neuroscience, cardiovascular ailments, and pacing and hearing problem treatment.

In terms of region, the global optogenetics market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America accounts for the largest share of the global optogenetics market owing to increasing prevalence of neurological disorders, such as, Parkinson’s disease and epilepsy in the region. Other factors fuelling the growth of the optogenetics market in North America are favorable government policies regarding treatment technique, rise in awareness regarding optogenetics treatment, and technological advancements.

Europe accounts for a major share of the global optogenetics market due to growth in cases of disabilities and mental health disorders associated with addictive behavior in the region. Furthermore, rise in the number of cases of depression and anxiety due to stress is boosting the growth of the optogenetics market in the region. Asia Pacific is a rapidly growing market for optogenetics owing to rising incidences of memory and cardiac disorders in the region. Technological advancements in optogenetics aiming to reduce the cost of treatment is supporting the market growth in developing regions, such as, Asia Pacific and Middle East & Africa.

Coherent Inc., Scientifica, A Judges Scientific plc Company, Thorlabs Inc., Laserglow technologies, Thomas RECORDING GmbH, Brukerm, and Gensight Biologic are some of the prominent players operating in the global optogenetics market.

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A fresh market intelligence study by Transparency Market Research (TMR) points out the global CT scanners market features a moderately consolidated vendor landscape. General Electric Healthcare is the clear leader in the CT scanners market with its wide product range and being the pioneer for quantitative dual-energy CT scanners that offers high-quality, high-resolution, and low-dose images. Extensive geographical presence across 180 countries and strong R&D capabilities are some other key strengths of the company.

Some other big shots in the market such as Philips and neuroLogica are focused on improving their distribution network via collaborations to gain ground over their competitors. Product innovation is also on the cards of these companies that will help them stay ahead in the competition. A case in point is Siemens Healthcare. The company in collaboration with National Institute of Health Clinical Center is striving for the development of newer CT scanners. Known as photon-counting detector CT scanners, these devices promise to improve imaging quality along with reduce exposure to radiation.

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Some other key players in the global CT scanners market include Accuray Incorporated, GE Healthcare, Koning Corporation, Medtronic plc, Samsung Electronics Co. Ltd., Shimadzu Corporation, Toshiba Corporationa, and Siemens AG among others.

As per the TMR report, the global CT scanners market is predicted to be worth US$6,429.8 mn by 2022 vis-à-vis revenue, considerably up from its value of US$4,834.1 mn in 2017 at a CAGR of 5.9% therein.  In terms of product type, O-Arm CT scanners displayed the leading demand in 2017 to account for 70.2% of the overall market in the same year. Geographically, the report identifies North America as the most attractive market for CT scanners due to an ultra-modern healthcare infrastructure in developed countries of the region.

Rising Demand for Early Disease Detection a Boon for Market

“Technological advances leading to considerable improvement of efficiency, rising patient awareness for early disease detection, increasing prevalence of target diseases, rising demand for minimally invasive diagnostic procedures, diagnostic benefits of computed tomography, and improving healthcare infrastructure across emerging economies are primarily driving the CT scanner market, says the lead analyst of the study.” While most CT scanners are all-purpose, some of them are modified for specialty use such as cardiovascular examination and bone densitometry.

Furthermore, rising demand for bedside imaging, rising popularity of homecare among the geriatric population in developed nations, advent of portable CT scanners, and growing use of CT scanners to examine the outcome of post interventional medical procedures or medical implants are some other key factors behind the growth of CT scanners market.

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Lack of Trained Personnel Crimps Growth in Developing Countries

On the down side, factors such as considerable installation and maintenance cost, uncertain reimbursement scenario in several developing countries, and lack of well-trained healthcare personnel are challenging the growth of the CT scanners market. Nevertheless, government funding to improve healthcare facilities of state-run hospitals in countries such as China and India, ongoing trend of image-guided medical line of treatment, and rising demand for multimodal diagnostic imaging systems are likely to present new opportunities for vendors operating in the CT scanners market.

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The global dental equipment market is highly competitive in nature with a presence of a large number of players operating in it across the globe, states a new market research study by Transparency Market Research. With the rising number of players, the global dental equipment market is projected to witness a high level of competition throughout the forecast period.

Some of the leading players operating in the dental equipment market across the globe are Midmark Corporation, Ivoclar Vivadent AG, Sirona Dental Systems Inc., Straumann, Biolase Inc., Dentsply International Inc., 3M ESPE, Patterson Companies Inc., Hu- Friedy Mgf Co., Noble Biocare, Henry Schein, Inc., GC Corporation, and Danaher Corporation. These players are focusing on research and development activities and innovations in order to cater the rising demand worldwide. The increasing mergers and acquisitions and strategic collaborations are also expected to help the leading players in expanding their horizon across the globe.

According to the research study by Transparency Market Research, in 2011, the global market for dental equipment was worth US$5.5 bn and is likely to reach a value of US$7.6 bn by the end of 2018. The market is anticipated to register a healthy 4.70% CAGR between 2012 and 2018.

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Increasing Dental Disorders to Encourage Growth in North America

From a regional perspective, North America is estimated to witness high growth in the next few years and further followed by Europe. The increasing prevalence of dental caries among people in this region is one of the key factors estimated to encourage the growth of the market in the next few years. In addition, technological advancements and innovations and the increasing awareness among consumers are further projected to generate promising growth opportunities for the market players throughout the forecast period. Furthermore, Europe and Asia Pacific are predicted to register a promising growth rate in the coming years.

Among the key products, the systems and parts segment is expected to register a rapid growth and account for a large share of the global market in the coming years. The high growth of this segment can be attributed to the expansion of the application areas of the product. In addition to this, the rising demand for advanced products to offer effective results to patients making use of innovative products are some of the other factors that are estimated to accelerate the overall growth of this segment in the coming few years. Furthermore, the dental radiology segment is projected to register a healthy growth rate throughout the forecast period.

Rising Demand for Cosmetic Dentistry to Drive Global Dental Equipment Market

The global market for dental equipment is expected to grow at a healthy rate in the next few years. Advancements in the treatment and diagnostic technologies and the rising cosmetic dentistry are some of the key factors that are estimated to accelerate the growth of the global dental equipment market in the next few years. In addition, the rising trend of dental tourism in several developing economies is predicted to enhance the overall growth of the market in the near future. The rising geriatric population is one more important factor, which is estimated to boost the demand for dental equipment in the near future.

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On the other hand, the rising taxes on medical devices and the rising cost of advanced technology equipment are anticipated to curtail the growth of the overall market in the next few years. In addition, the rising refurbished dental equipment market is another key factor anticipated to restrict the market growth in the coming years. Nonetheless, the rising disposable income of consumers in several developing economies is projected to generate promising growth opportunities for market players across the globe.

Key Takeaways:

  • Rising demand for dental tourism across several developing nations is projected to encourage the growth of the global dental equipment market.
  • Presence of a large number of players to accelerate the growth of the North America dental equipment market in the next few years.
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Transparency Market Research (TMR) has published a new report on the photodynamic therapy market for the Forecast period of 2019 – 2027. According to the report, the global photodynamic therapy market was valued at ~US$ 3 Bn in 2018, and is projected to expand at a CAGR of ~17% from 2019 to 2027.

Global Photodynamic Therapy Market: Key Insights

  • Photodynamic therapy is a part of treatment that uses drugs and devices for the treatment of different chronic diseases such as cancer and malignant musculoskeletal tumors.
  • Increase in the prevalence as well as incidence of cancer and skin diseases, growth in the number of surgeries, and approval of new biologics are major factors anticipated to drive the global photodynamic therapy market during the forecast period.
  • According to the National Cancer Institute of the U.S., around 1,735,350 new cancer cases were diagnosed in the U.S. in 2018. It also stated that, there were 15.5 million cancer survivors in the country in 2016, and the number is projected to rise to 20.3 million by 2026.
  • North America held a leading share of the global photodynamic therapy market in 2018, due to increase in the number of cancer cases and approvals for new photosensitizers by the U.S. Food & Drug Administration (FDA).
  • In June 2017, Theralase Technologies Inc. was granted a patent for its anti-cancer compound technology by the U.S. Patent and Trademark Office (USPTO). The USPTO granted a patent titled as ‘Metal-based Thiophene Photodynamic Compounds and their Use.’
  • The photodynamic therapy market in Asia Pacific is expected to expand at a high CAGR of ~18% from 2019 to 2027, due to surge in the number of patients with psoriasis and acne, and rise in the demand for innovative cosmetic therapies in India, China, and South Korea.

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Rise in Prevalence of Skin Diseases to Drive Global Photodynamic Therapy Market

  • Rise in the prevalence of skin diseases, worldwide, is projected to drive the global photodynamic therapy market during the forecast period.
  • Acne is considered one of the most common skin conditions in the U.S., which affects over 50 million people in the country every year. Its prevalence is known to be higher among women, affecting over 15% of the total population of adult women.
  • Psoriasis is known to affect over 7.5 million people in the U.S. every year, with a higher rate of prevalence among people aged between 45 and 64 years.
  • This significant rise in the prevalence of skin diseases and the economic burden of these diseases generate high demand for photodynamic therapy, which is a cost-effective option.

Photosensitizers Drugs Dominate Global Photodynamic Therapy Market

  • Increase in the number of clinical trials for the development of new photosensitizers, rise in the number of market players strengthening their research and development activities, and increase in expenditure on new drug development are various factors expected to drive the drugs segment during the forecast period.
  • In September 2018, Health Canada approved the clinical trial application (CTA) filed by Theralase Technologies Inc., allowing clinical study evaluation of Theralase’s lead anti-cancer drug, i.e. TLD-1433.

Cancer the Most Prominent Application in Photodynamic Therapy Market

  • In terms of application, the global photodynamic therapy market has been segmented into cancer, actinic keratosis (AK), psoriasis, acne, and others. The cancer segment is further categorized into basal cell carcinoma, non-small cell lung cancer, head & neck cancer, and others.
  • The cancer segment accounted for a major share of the global market in 2018, and is likely to continue its dominance during the forecast period.
  • Growth of the cancer segment can be attributed to increase in the incidence of various types of cancer, such as head & neck cancer, basal cell carcinoma, breast cancer, and lung cancer.
  • According to the World Health Organization (WHO), in India, lung, breast, and stomach cancers accounted for nearly 5.9%, 14%, and 5% of the total cancer cases, respectively, in 2018.
  • Leading players operating in the global photodynamic therapy market have received drug patents for their newly developed molecules, having potential use in the treatment of cancer. In October 2019, Theralase Technologies Inc. was granted a patent in Europe for its anti-cancer light-activated photodynamic compounds (PDCs).

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Hospitals a Promising End User of Global Photodynamic Therapy Market

  • In terms of end user, the global photodynamic therapy market has been categorized into hospitals, cosmetics & dermatology clinics, cancer treatment centers, and others.
  • The cosmetics & dermatology clinics segment is likely to gain significant market share by 2027. Growth of this segment can be attributed to surge in the demand for photodynamic therapy lasers for use in the treatment of skin conditions such as psoriasis and acne across the globe, and patient preference for treatment in hospitals.

North America to Dominate Global Photodynamic Therapy Market

  • In terms of region, the global photodynamic therapy market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for a leading share of the global photodynamic therapy market during the forecast period, owing to the presence of key players in the U.S., increase in the demand for new biologics for cancer treatment, high adoption of photodynamic therapy, and new product launches by market players.
  • In January 2019, Biofrontera AG received approval from the U.S. Food and Drug Administration (FDA), and earlier, from the European Medicines Agency (EMA), for up-scaling of the batch size for the production of Ameluz to 35 kilograms from the previous 7 kilograms. Increase in the batch size enabled the company to improve its production capabilities, thereby meeting the increasing demand for drugs.

Growth Strategies of Key Players

  • Key players operating in the global photodynamic therapy market are Biofrontera AG, Theralase Technologies Inc., Lumibird, Quest PharmaTech Inc., Modulight, Inc., Galderma Laboratories L.P. (Nestlé), Sun Pharmaceutical Industries Ltd., and SUS Advancing Technology Co., Ltd.
  • One of the major strategies adopted by prominent players operating in the global photodynamic therapy market is extensive R&D efforts for the development of new photosensitizers. This is coupled with geographical expansion, especially in countries such as China and Japan.
  • In May 2019, Theralase Technologies Inc. received a notice of acceptance for photodynamic compounds from the Chinese Patent Office for PDCs.
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Despite the presence of relatively small number of regional players and a handful of global players, the global teleradiology market is markedly fragmented, notes Transparency Market Research (TMR). Several regional players boast of sizeable shares in their respective regions, the status quo is constantly threatened by numerous large players based in developed markets, notably from Europe and North America. In order to retain their shares in the overall market, these regional companies constantly need to bolster their product portfolio and geographic reach. On the other hand, globally prominent players are capitalizing on their brand value and the strength of innovative offerings to gain a competitive edge over their rivals. 

TMR observes that the players with international presence may leverage the synergies of long-term contracts they are entering with various service providers. They are also expected to explore new revenue streams by collaborating with community hospitals and acquiring small regional vendors in emerging markets, especially present in far-flung areas. 

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names of vRad, Inc., USA Radiology Management Solutions, and Radiology Reporting Online.

The global teleradiology market stood at US$ 1.35 Bn in 2014. Expanding at a robust CAGR of 11.3% from 2015 to 2023, the opportunities in the global market is projected to reach a worth of US$3.63 Bn by the end of 2023.

Among the various regions, Asia Pacific is anticipated to be one of the most promising markets rising at potentially attractive CAGR of 12.1% during 2015–2023. The extensive regional demand is attributed mainly to rapid advancements in the healthcare sector across its key economies. 

The various modalities used in teleradiology are ultrasound, X-Ray, computed tomography (CT), nuclear imaging, and magnetic resonance imaging. Of these, the demand for CT procedures is expected to be lucrative throughout the assessment timeline.

Demand Fueled by Rapid Advances in Telecommunication Technologies

The substantial drive that teleradiology has witnessed over the past few years stems from the need for meeting the burgeoning demand for radiology services in various parts of the world. The growth of the teleradiology market is increasingly fueled by the rapid advances being made in the internet and communication technologies (ICT) used in the healthcare industries. The attractive strides being made by healthcare IT in developing and developed countries is propelling the growth of the market.

The rising need for transmission of radiological images using a range of digital technologies supported by telecommunication in medical emergencies is bolstering the demand for teleradiology. Recent advancements in web technologies in healthcare systems, notably wireless image transmission systems, have boosted the market.

The demand for teleradiology services in rural areas in several emerging economies is also vast. This is attributed to the lack of adequate radiological systems and the paucity of trained personnel in remote areas of these regions. The paucity of specialty expertise in urban centers in numerous emerging economies is also fostering the demand for teleradiology.

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High Cost of Setting Teleradiology Infrastructures may Retard Growth

The global teleradiology market is witnessing lucrative prospects from advancements being made in various digital image processing methods in developing regions. However, the growth is notably beset by the high cost of setting up infrastructures for teleradiology, given the lack of funds in emerging economies in several parts of the world. Add to this, the glaring lack of a reliable internet connection or poor state of broadband connections in rural areas is a significant deterrent to the steady expansion in the global market. The presence of subspecialty expertise in various imaging centers is further retarding the uptake of teleradiology in these regions.

Nevertheless, the rising demand for radiology outsourcing, coupled with the substantially increasing disposable incomes of urban populations, in various parts of the world is expected to fuel the expansion of the market over the next five years. Favorable governmental healthcare policies for setting up teleradiology systems in numerous emerging economies also augur well for the overall market.

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