Esoteric Testing Market Research, Analysis, Segmentation, Trends, Size And Forecasts, Competitive Analysis, SWOT Analysis

Esoteric Testing Market Introduction

Esoteric testing refers to laboratory testing that requires specialized expertise and is not commonly performed in routine clinical laboratories. Examples of esoteric tests include genetic testing, molecular diagnostics, and specialized tests for rare diseases. The esoteric testing market has been growing rapidly in recent years, driven by advances in technology and an increasing demand for personalized medicine.

Market Size and Growth

The global esoteric testing market was valued at $21.7 billion in 2020 and is expected to reach $37.3 billion by 2027, growing at a compound annual growth rate (CAGR) of 8.1% from 2020 to 2027. North America is the largest market for esoteric testing, followed by Europe and Asia Pacific. The market is driven by factors such as an increasing prevalence of chronic and infectious diseases, a growing demand for early disease diagnosis, and a rising focus on personalized medicine.

Market Segmentation

The esoteric testing market can be segmented by technology, test type, end-user, and geography. By technology, the market can be segmented into mass spectrometry, flow cytometry, polymerase chain reaction (PCR), and others. By test type, the market can be segmented into infectious diseases, oncology, genetic testing, endocrinology, and others. By end-user, the market can be segmented into hospitals, clinical laboratories, academic and research institutes, and others.

Key Players

The esoteric testing market is highly competitive, with numerous players operating in the space. Key players in the market include Laboratory Corporation of America Holdings, Quest Diagnostics, Sonic Healthcare, Eurofins Scientific, ARUP Laboratories, Mayo Clinic Laboratories, Bio-Reference Laboratories, and Genomic Health.

Challenges

The esoteric testing market faces several challenges, including a lack of standardized testing protocols, high testing costs, and limited reimbursement for esoteric tests. In addition, there is a shortage of trained personnel who can perform esoteric testing, which can limit growth in the market.

Opportunities

Despite these challenges, the esoteric testing market presents several opportunities for growth and expansion. For example, advances in technology, such as next-generation sequencing and liquid biopsy, are creating new opportunities for esoteric testing. In addition, the growing demand for personalized medicine is driving demand for esoteric tests that can provide more precise diagnoses and targeted treatments. The increasing prevalence of rare diseases is also creating new opportunities for esoteric testing, as these conditions often require specialized testing and expertise. Finally, the rise of telemedicine and other digital health technologies is creating new opportunities for esoteric testing by enabling remote testing and diagnosis.

Esoteric Testing Market Industry Analysis

The global esoteric testing market has been growing rapidly in recent years and is expected to continue growing at a steady rate. Esoteric testing refers to laboratory testing that requires specialized expertise and is not commonly performed in routine clinical laboratories. Examples of esoteric tests include genetic testing, molecular diagnostics, and specialized tests for rare diseases.

Market Size and Growth

Market Segmentation

Key Players

Challenges

Opportunities

Overall, the esoteric testing market is expected to continue growing in the coming years, driven by advances in technology, rising demand for personalized medicine, and an increasing focus on early disease diagnosis and management. However, the market is also likely to face challenges related to cost, reimbursement, and the availability of trained personnel.

Esoteric Testing Market Trends

The global esoteric testing market is subject to a number of trends that are shaping the industry and influencing growth prospects. Some key trends in the market include:

Personalized medicine: There is a growing focus on personalized medicine, which involves tailoring medical treatment to the individual characteristics of each patient. Esoteric testing plays a critical role in personalized medicine, as it can provide more precise diagnoses and targeted treatments for a range of conditions.
Genomic medicine: Advances in genomic medicine, including next-generation sequencing and other genetic tests, are driving demand for esoteric testing. Genomic testing can provide important information about an individual’s risk for certain diseases, as well as guide treatment decisions.
Liquid biopsy: Liquid biopsy is a non-invasive form of testing that involves the analysis of blood, urine, or other bodily fluids for the presence of cancer cells or other disease markers. Liquid biopsy is a growing area of esoteric testing, as it offers a less invasive alternative to traditional tissue biopsies.
Telemedicine: The rise of telemedicine and other digital health technologies is creating new opportunities for esoteric testing. Telemedicine enables remote testing and diagnosis, which can increase access to esoteric testing for patients in remote or underserved areas.
Rare diseases: The increasing prevalence of rare diseases is driving demand for esoteric testing, as these conditions often require specialized testing and expertise. Esoteric testing can help diagnose rare diseases and guide treatment decisions.
Automation: The automation of laboratory testing is improving efficiency and accuracy in esoteric testing. Automated testing systems can reduce errors and increase throughput, which can help lower costs and improve turnaround times.
Cost containment: The high cost of esoteric testing is a challenge for many healthcare providers and patients. Cost containment strategies, such as bundled payments and utilization management, are becoming increasingly important in the esoteric testing market.

Overall, these trends are driving growth and innovation in the esoteric testing market, while also presenting challenges related to cost, reimbursement, and access. As the industry continues to evolve, it will be important for stakeholders to stay abreast of these trends and adapt to changing market dynamics.

Esoteric Testing Market Size And Forecast

The esoteric testing market size is projected to grow significantly over the coming years. According to a report by Grand View Research, the global esoteric testing market size was valued at USD 22.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2028. The increasing prevalence of chronic diseases, technological advancements, and the growing focus on personalized medicine are some of the key factors driving market growth.

Regionally, North America is expected to dominate the market due to the high adoption of advanced diagnostic technologies and the presence of major market players in the region. However, the Asia Pacific region is expected to witness the highest growth rate due to the increasing prevalence of chronic diseases, rising healthcare spending, and the growing awareness of esoteric testing.

The molecular diagnostics segment is expected to account for the largest share of the esoteric testing market, driven by the increasing adoption of genetic testing and personalized medicine. The infectious diseases segment is also expected to grow significantly due to the ongoing COVID-19 pandemic, which has increased demand for testing and diagnosis.

Overall, the esoteric testing market is expected to continue growing over the coming years, driven by a range of factors including technological advancements, increasing prevalence of chronic diseases, and the growing importance of personalized medicine. However, the market is also subject to challenges related to reimbursement and cost, which could impact growth prospects in the future.

Esoteric Testing Market Share Analysis

The global esoteric testing market is highly fragmented, with a large number of players competing for market share. Some of the key players in the market include Quest Diagnostics, Laboratory Corporation of America Holdings (LabCorp), Sonic Healthcare, ARUP Laboratories, Eurofins Scientific, Mayo Clinic Laboratories, Miraca Holdings, Fulgent Genetics, Invitae Corporation, and Opko Health, among others.

Quest Diagnostics and Laboratory Corporation of America Holdings (LabCorp) are the two largest players in the esoteric testing market, together accounting for a significant share of the market. Quest Diagnostics is the market leader, with a comprehensive range of esoteric testing services and a strong presence in North America. LabCorp is the second-largest player in the market, with a similar range of esoteric testing services and a strong presence in the United States.

Other key players in the market include Sonic Healthcare, a global provider of laboratory and diagnostic services with a presence in over 30 countries, and ARUP Laboratories, a non-profit testing laboratory affiliated with the University of Utah. Eurofins Scientific, Mayo Clinic Laboratories, Miraca Holdings, Fulgent Genetics, Invitae Corporation, and Opko Health are also significant players in the market, each with a unique set of esoteric testing capabilities and a focus on different segments of the market.

Overall, the esoteric testing market is characterized by a high degree of competition, with players competing on the basis of technology, quality, price, and service. The market is also subject to regulatory and reimbursement challenges, which could impact market share dynamics in the future. As the market continues to evolve, it will be important for players to stay ahead of emerging trends and adapt to changing market dynamics in order to maintain and grow their market share.

Esoteric Testing Market Competitive Landscape

The esoteric testing market is highly competitive and fragmented, with a large number of players operating in the market. The competitive landscape is characterized by intense rivalry, with players competing on the basis of technology, quality, price, and service. Some of the key players in the market include Quest Diagnostics, Laboratory Corporation of America Holdings (LabCorp), Sonic Healthcare, ARUP Laboratories, Eurofins Scientific, Mayo Clinic Laboratories, Miraca Holdings, Fulgent Genetics, Invitae Corporation, and Opko Health, among others.

Quest Diagnostics and Laboratory Corporation of America Holdings (LabCorp) are the two largest players in the esoteric testing market, together accounting for a significant share of the market. These companies have a comprehensive range of esoteric testing services and a strong presence in North America. Other key players in the market include Sonic Healthcare, a global provider of laboratory and diagnostic services with a presence in over 30 countries, and ARUP Laboratories, a non-profit testing laboratory affiliated with the University of Utah.

Eurofins Scientific, Mayo Clinic Laboratories, Miraca Holdings, Fulgent Genetics, Invitae Corporation, and Opko Health are also significant players in the market. These companies have a unique set of esoteric testing capabilities and a focus on different segments of the market. For example, Eurofins Scientific is a leading provider of genetic testing and has a strong presence in Europe and North America, while Fulgent Genetics specializes in genetic testing for cancer and rare diseases.

In addition to these established players, the esoteric testing market is also seeing a number of new entrants and startups, particularly in the areas of genomics and personalized medicine. These companies are leveraging advanced technologies such as next-generation sequencing and machine learning to develop innovative esoteric testing solutions.

Overall, the esoteric testing market is highly competitive and dynamic, with players competing on multiple fronts. The market is also subject to regulatory and reimbursement challenges, which could impact the competitive landscape in the future. As the market continues to evolve, it will be important for players to stay ahead of emerging trends and adapt to changing market dynamics in order to maintain their competitiveness.

Esoteric Testing Market Intelligence

The esoteric testing market is a rapidly growing segment of the global diagnostic testing market, driven by advances in technology, an aging population, and increasing demand for personalized medicine. Esoteric testing refers to highly specialized and complex laboratory tests that are not routinely performed in a standard clinical laboratory. These tests are typically used for the diagnosis and management of rare and complex medical conditions, and require advanced testing technologies and expertise.

The global esoteric testing market is expected to grow at a CAGR of around 12% from 2021 to 2026, driven by increasing demand for personalized medicine, the growing incidence of rare diseases, and the development of new and innovative testing technologies. The market is expected to reach USD 48 billion by 2026, up from USD 23 billion in 2021.

North America is the largest market for esoteric testing, accounting for a significant share of the global market. This can be attributed to the presence of a large number of key players in the region, as well as a well-established healthcare infrastructure and high awareness about the benefits of esoteric testing. However, the Asia-Pacific region is expected to grow at the fastest rate during the forecast period, driven by increasing demand for advanced diagnostic testing technologies and a growing focus on personalized medicine.

The esoteric testing market is highly competitive and fragmented, with a large number of players competing for market share. Key players in the market include Quest Diagnostics, Laboratory Corporation of America Holdings (LabCorp), Sonic Healthcare, ARUP Laboratories, Eurofins Scientific, Mayo Clinic Laboratories, Miraca Holdings, Fulgent Genetics, Invitae Corporation, and Opko Health, among others. These companies are investing heavily in research and development to develop new and innovative esoteric testing solutions, as well as expanding their geographic reach through strategic partnerships and acquisitions.

In addition to regulatory and reimbursement challenges, the esoteric testing market is also facing increasing competition from non-traditional players such as technology companies and startups. These companies are leveraging advanced technologies such as artificial intelligence and machine learning to develop new and innovative esoteric testing solutions, and could potentially disrupt the traditional diagnostic testing market in the future.

Overall, the esoteric testing market is a dynamic and rapidly growing segment of the global diagnostic testing market, driven by increasing demand for personalized medicine and advances in testing technologies. As the market continues to evolve, it will be important for players to stay ahead of emerging trends and adapt to changing market dynamics in order to maintain their competitiveness.

Esoteric Testing Market Industry Trends

The esoteric testing market is a dynamic and rapidly evolving segment of the diagnostic testing market, driven by advances in technology and increasing demand for personalized medicine. Some of the key industry trends in the esoteric testing market include:

Growing focus on precision medicine: Esoteric testing is becoming an increasingly important tool in the field of precision medicine, which aims to tailor medical treatments to individual patients based on their genetic makeup and other individual characteristics. As a result, there is growing demand for esoteric tests that can provide detailed information about a patient’s genetics and other biomarkers.
Increasing use of next-generation sequencing (NGS): NGS is a rapidly evolving technology that allows for the rapid sequencing of large amounts of DNA or RNA. This technology is increasingly being used in esoteric testing to diagnose rare genetic disorders and other conditions. As the cost of NGS continues to decline, it is expected to become an increasingly important tool in esoteric testing.
Growing demand for companion diagnostics: Companion diagnostics are tests that are designed to identify patients who are likely to respond to a specific treatment. These tests are becoming increasingly important in the field of precision medicine, and are often used in conjunction with targeted therapies for cancer and other diseases.
Expansion of esoteric testing into emerging markets: While North America and Europe currently dominate the esoteric testing market, there is growing demand for these tests in emerging markets such as China, India, and Brazil. As these markets continue to grow and develop, it is expected that they will become increasingly important players in the global esoteric testing market.
Increasing use of artificial intelligence (AI) and machine learning: AI and machine learning are increasingly being used in esoteric testing to help interpret complex test results and identify patterns that may be difficult to detect by human analysts. This technology has the potential to revolutionize the field of esoteric testing, and could lead to the development of new and more accurate tests in the future.

Esoteric Testing Market Analysis

The esoteric testing market is a rapidly growing segment of the diagnostic testing market, driven by advances in technology and increasing demand for personalized medicine. Esoteric tests are specialized laboratory tests that are performed to diagnose complex or rare conditions, often using advanced technologies such as next-generation sequencing (NGS) and mass spectrometry.

The global esoteric testing market is expected to grow at a CAGR of around 11% from 2021 to 2026, according to a report by Market Research Future. The report attributes this growth to factors such as the increasing incidence of chronic diseases, the growing demand for personalized medicine, and the expanding use of NGS and other advanced technologies in diagnostic testing.

North America currently dominates the esoteric testing market, accounting for the largest share of global revenues. This is due to factors such as the high prevalence of chronic diseases in the region, the presence of a large number of leading diagnostic testing companies, and favorable reimbursement policies for esoteric tests.

However, the Asia-Pacific region is expected to be the fastest-growing market for esoteric testing over the forecast period, driven by factors such as the rapidly growing healthcare sector, increasing investment in healthcare infrastructure, and rising healthcare spending in emerging economies such as China and India.

The esoteric testing market is highly competitive, with a large number of players operating in the space. Some of the key players in the market include Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics, Eurofins Scientific, Sonic Healthcare, and OPKO Health, among others. These companies are focusing on strategies such as mergers and acquisitions, partnerships, and product launches to expand their market share and increase their competitive edge.

In conclusion, the esoteric testing market is a dynamic and rapidly evolving segment of the diagnostic testing market, driven by advances in technology and increasing demand for personalized medicine. With the growing demand for esoteric tests and the expanding use of advanced technologies in diagnostic testing, the market is expected to continue to grow at a rapid pace in the coming years.

Esoteric Testing Market Segmentation

The esoteric testing market can be segmented based on various factors, including test type, technology, application, end-user, and geography.

Based on test type, the market can be segmented into:
- Genetic tests
- Infectious disease tests
- Endocrine tests
- Oncology tests
- Toxicology tests
- Neurology tests
- Others
Based on technology, the market can be segmented into:
- Mass spectrometry
- Next-generation sequencing (NGS)
- Polymerase chain reaction (PCR)
- Flow cytometry
- Immunohistochemistry (IHC)
- Others
Based on application, the market can be segmented into:
- Drug development and discovery
- Clinical diagnostics
- Research and development
Based on end-user, the market can be segmented into:
- Hospitals and clinics
- Diagnostic laboratories
- Research institutions
- Others
Based on geography, the market can be segmented into:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa

These segments allow for a more detailed understanding of the esoteric testing market, its growth potential, and the specific factors that are driving demand for esoteric tests in different regions and industries.

Esoteric Testing Market Forecast

The esoteric testing market is expected to grow at a CAGR of around 11% from 2021 to 2026, according to a report by Market Research Future. This growth is attributed to factors such as the increasing prevalence of chronic diseases, the growing demand for personalized medicine, and the expanding use of next-generation sequencing (NGS) and other advanced technologies in diagnostic testing.

The genetic testing segment is expected to dominate the esoteric testing market, with the highest CAGR during the forecast period. This is due to the increasing demand for genetic testing for inherited diseases, prenatal testing, and cancer diagnosis and treatment.

Based on technology, the NGS segment is expected to hold the largest market share, driven by the increasing use of NGS in research and diagnostics, as well as the growing availability of NGS-based diagnostic tests.

In terms of geography, North America is expected to continue to dominate the esoteric testing market, driven by factors such as the high prevalence of chronic diseases in the region, favorable reimbursement policies for esoteric tests, and the presence of a large number of leading diagnostic testing companies. However, the Asia-Pacific region is expected to be the fastest-growing market for esoteric testing, driven by factors such as the rapidly growing healthcare sector, increasing investment in healthcare infrastructure, and rising healthcare spending in emerging economies such as China and India.

Overall, the esoteric testing market is expected to continue to grow at a rapid pace over the forecast period, driven by the increasing demand for personalized medicine, the expanding use of advanced technologies in diagnostic testing, and the growing prevalence of chronic diseases.

Esoteric Testing Market Growth

The esoteric testing market is expected to grow significantly in the coming years, driven by factors such as the increasing prevalence of chronic diseases, the growing demand for personalized medicine, and the expanding use of advanced technologies in diagnostic testing.

One of the key drivers of growth in the esoteric testing market is the increasing prevalence of chronic diseases such as cancer, cardiovascular disease, and diabetes. Esoteric tests are becoming increasingly important in the diagnosis and management of these diseases, as they can provide more accurate and comprehensive information about a patient’s health status.

Another important factor driving growth in the esoteric testing market is the growing demand for personalized medicine. As the understanding of the underlying genetic and molecular basis of diseases continues to improve, there is a growing need for more personalized diagnostic and treatment approaches. Esoteric tests are often used to identify specific genetic or molecular markers that can be used to guide treatment decisions and improve patient outcomes.

The expanding use of advanced technologies such as next-generation sequencing (NGS) is also expected to drive growth in the esoteric testing market. NGS allows for the rapid and comprehensive analysis of genetic and molecular data, and is increasingly being used in both research and clinical settings.

Overall, the esoteric testing market is expected to continue to grow at a rapid pace in the coming years, driven by the increasing demand for personalized medicine, the growing use of advanced technologies in diagnostic testing, and the increasing prevalence of chronic diseases.

Esoteric Testing Market Competitor Analysis

The esoteric testing market is highly competitive, with a large number of players operating in the space. Some of the key players in the market include:

LabCorp: LabCorp is a leading provider of esoteric testing services, with a wide range of offerings across multiple disease areas.
Quest Diagnostics: Quest Diagnostics is another major player in the esoteric testing market, offering a broad range of diagnostic testing services to healthcare providers and patients.
Sonic Healthcare: Sonic Healthcare is a global provider of diagnostic services, with a particular focus on esoteric testing and specialized laboratory services.
Eurofins Scientific: Eurofins Scientific is a leading provider of analytical testing services, with a broad range of offerings across multiple industries, including healthcare.
ARUP Laboratories: ARUP Laboratories is a national reference laboratory that provides a wide range of esoteric testing services to healthcare providers and researchers.
Mayo Clinic Laboratories: Mayo Clinic Laboratories is a leading provider of specialized laboratory testing services, with a focus on esoteric testing and complex diagnostic challenges.
Miraca Life Sciences: Miraca Life Sciences is a provider of pathology and laboratory testing services, with a particular focus on esoteric and specialty testing.
Bio-Reference Laboratories: Bio-Reference Laboratories is a clinical laboratory testing company that offers a wide range of esoteric testing services.

These companies are investing heavily in research and development to develop new and innovative esoteric tests that can better meet the needs of patients and healthcare providers. They are also focused on expanding their geographic presence and strengthening their partnerships with healthcare providers to drive growth in the market. Overall, the esoteric testing market is expected to remain highly competitive in the coming years, with continued innovation and investment driving growth and expansion.

Esoteric Testing Market Strengths

Some of the key strengths of the esoteric testing market include:

Growing demand: There is a growing demand for esoteric testing services due to the increasing prevalence of chronic diseases and the need for more personalized diagnostic and treatment approaches.
Technological advancements: The expanding use of advanced technologies such as next-generation sequencing (NGS) is driving innovation in the esoteric testing market and enabling more accurate and comprehensive testing.
Wide range of offerings: Esoteric testing companies offer a broad range of testing services across multiple disease areas, allowing them to meet the needs of a diverse customer base.
Strong partnerships with healthcare providers: Esoteric testing companies have strong partnerships with healthcare providers, allowing them to provide comprehensive diagnostic and testing services to patients.
Experienced workforce: The esoteric testing market employs a highly skilled and experienced workforce, including scientists, technicians, and medical professionals, who are dedicated to delivering high-quality testing services.

Overall, the esoteric testing market is well positioned for continued growth and expansion, driven by strong demand, technological advancements, and a skilled and experienced workforce.

Esoteric Testing Market Opportunities

There are several opportunities for growth and expansion in the esoteric testing market, including:

Personalized medicine: As the field of personalized medicine continues to grow, there is a need for more specialized and targeted testing services. Esoteric testing companies are well positioned to provide these services, helping healthcare providers to develop personalized treatment plans based on a patient’s unique genetic makeup and disease profile.
Emerging markets: There is a growing demand for esoteric testing services in emerging markets, particularly in Asia and Latin America. Esoteric testing companies have an opportunity to expand their geographic footprint and tap into these rapidly growing markets.
Collaborations and partnerships: Esoteric testing companies can benefit from collaborations and partnerships with pharmaceutical companies, academic institutions, and other stakeholders to drive innovation and develop new testing services.
Advanced technologies: Advances in technologies such as NGS and gene editing are driving innovation in the esoteric testing market, creating opportunities for companies that can develop and commercialize these technologies.
Telemedicine: The rise of telemedicine and remote patient monitoring is creating opportunities for esoteric testing companies to provide diagnostic services to patients who may not have access to traditional healthcare facilities.

Overall, there are numerous opportunities for growth and expansion in the esoteric testing market, driven by a combination of technological advancements, changing healthcare needs, and emerging markets. Companies that can capitalize on these opportunities are well positioned for long-term success in the market.

Esoteric Testing Market Weakness

Some of the potential weaknesses of the esoteric testing market include:

High costs: Esoteric testing services can be expensive, which may limit their accessibility to patients and healthcare providers. This can be a barrier to growth, particularly in emerging markets where cost is a major consideration.
Regulatory challenges: The esoteric testing market is subject to stringent regulatory oversight, which can create challenges for companies seeking to develop and commercialize new testing services.
Limited reimbursement: The reimbursement landscape for esoteric testing services can be complex and uncertain, which may limit the adoption of these services by healthcare providers.
Limited awareness: Esoteric testing services are often specialized and complex, which can make them less accessible and less well-known to patients and healthcare providers.
Competition: The esoteric testing market is highly competitive, with a large number of companies competing for market share. This can make it difficult for new entrants to gain a foothold in the market and for established companies to maintain their position.

Overall, the esoteric testing market faces a number of potential weaknesses, including high costs, regulatory challenges, limited reimbursement, limited awareness, and strong competition. Companies operating in the market must be prepared to navigate these challenges and find ways to differentiate themselves from competitors in order to succeed.

Esoteric Testing Market Threats

Some of the potential threats to the esoteric testing market include:

Economic uncertainty: Economic downturns can lead to reduced demand for healthcare services, including esoteric testing services, as patients may defer or forego medical treatment due to financial constraints.
Shifting healthcare policies: Changes to healthcare policies, such as changes to reimbursement rates or insurance coverage, can have a significant impact on the esoteric testing market. Changes that reduce reimbursement rates or limit insurance coverage for esoteric testing services could reduce demand for these services.
Disruptive technologies: Advances in other areas of healthcare, such as telemedicine or artificial intelligence, could potentially disrupt the esoteric testing market by enabling faster, cheaper, or more accurate diagnostic testing.
Industry consolidation: Consolidation in the healthcare industry, such as mergers and acquisitions among healthcare providers or insurance companies, could potentially limit the number of potential customers for esoteric testing services.
Global pandemics: Global pandemics, such as the COVID-19 pandemic, can disrupt healthcare systems and lead to changes in demand for medical services, including esoteric testing services.

Overall, the esoteric testing market faces a range of potential threats, including economic uncertainty, shifting healthcare policies, disruptive technologies, industry consolidation, and global pandemics. Companies operating in the market must be prepared to adapt to changing market conditions and find ways to differentiate themselves from competitors in order to survive and thrive.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Market Insight Lab journalist was involved in the writing and production of this article.