Medicine Market Analysis, Trends, and Forecast by 2031

Coverage: Medicine Market covers analysis By Type (Brand Drugs, Generic Drugs); End User (Hospital, Clinic, Other) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00019345
  • Category : Life Sciences
  • No. of Pages : 150
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The Medicine Market is expected to register a CAGR of 8.00% from 2025 to 2031, with a market size expanding from US$ XX Million in 2024 to US$ XX Million by 2031.

The research report on the Medicine Market is segmented by type into prescription medications, over-the-counter drugs, and generics. Applications analyzed include chronic disease management, acute illness treatments, and preventive care. End-users include pharmaceutical companies, retail pharmacies, healthcare providers, and e-commerce platforms. The regional analysis covers key markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and South America. The market evaluation is presented in US$ for all segmental analyses. This report discusses the dynamics of the global medicine market, including the rise of generic drugs, market access in developing countries, and the increasing focus on personalized treatments.

Purpose of the Report

The report Medicine Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

  • Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
  • Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
  • Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Medicine Market Segmentation

Type
  • Brand Drugs
  • Generic Drugs
End User
  • Hospital
  • Clinic

Strategic Insights

Medicine Market Growth Drivers
  • Rising Global Prevalence of Chronic Diseases:
    Chronic diseases, including cardiovascular diseases, diabetes, respiratory diseases, and cancer, are major drivers of the medicine market. According to the World Health Organization (WHO), chronic diseases account for 71% of global deaths, a number that is rising due to lifestyle changes, aging populations, and environmental factors. As these conditions require long-term medication management, there is a continuous demand for drugs that manage symptoms, slow disease progression, and improve quality of life. The rise of chronic disease management is boosting the market for prescription medications, including drugs for hypertension, diabetes, arthritis, and respiratory conditions.
  • Aging Population and Increased Longevity: The global aging population is a significant factor driving growth in the medicine market. As life expectancy increases, particularly in developed nations, there is a rising need for medicines to manage age-related health conditions, such as osteoarthritis, Alzheimer’s disease, cardiovascular conditions, and cancer. By 2050, the number of people aged 60 and above is expected to surpass 2 billion, with a particularly high concentration in Europe, North America, and parts of Asia. This demographic shift is expected to substantially increase the demand for medications that address the health concerns of older adults, thereby driving the medicine market.
  • Advancements in Biotechnology and Biopharmaceuticals:
    The advancements in biotechnology and biopharmaceuticals are transforming the medicine market. The increasing number of biologic drugs, including monoclonal antibodies, gene therapies, and vaccines, has revolutionized the treatment of diseases such as cancer, autoimmune diseases, and infectious diseases. Biologics, though expensive, have shown remarkable effectiveness in treating previously difficult-to-manage conditions. As more biotechnology companies focus on the development of novel biologics, the medicine market is experiencing growth in these high-value, high-impact treatments, offering new avenues for disease management and treatment.
Medicine Market Future Trends
  • Shift Toward Preventive Medicine: With a global shift toward prevention instead of treatment, preventive medicine is becoming one of the flourishing sectors in the world. Driven by the increase in the intake of preventive medication, several preventive medicines have risen in demand such as statins for heart disease prevention, vaccines for infectious diseases, and bone health supplements. Investments in high blood pressure, high cholesterol management, and immunizations have been incorporated into public policies on preventive health and personal health care strategies. The increase in the emphasis on healthy living and prevention is thus driving a surge in the preventive medicines' market.
  • Expansion of Over-the-Counter (OTC) Medicines:
    OTC medicine is another main growth driver. As consumer focus on self-care increases, more patients are opting for medications that can be sold over the counter. Products like analgesics, cold and flu medicines, digestive aids, and treatments for allergies are in increasing demand. The shift toward self-medication among consumers and reforms in drug regulations allowing ready access to certain medicines are a growing impetus in the OTC market. In addition, the COVID-19 crisis heightened this trend since individuals turned their attention toward health management at home, allowing OTC medicine sales to increase into a true billion-dollar industry.
  • Telemedicine and Digital Health Integration:
    The continuing integration of telemedicine and digital technologies is changing how medicines are prescribed and monitored. Telehealth services allow patients to connect without face-to-face contact with providers, facilitating a quick delivery system for prescriptions and medicines. Some telemedicine platforms give physicians access to patient medical history, lab test results, and diagnostic records using unique codes that the patients provide to verify their identity. All of these help ensure personalized treatment plans, better monitoring of patient health, and possible real-time adjustments of medications. Thus, this open trend promotes better accessibility and efficiency in healthcare while resulting in marketed medicines that will expand.
Medicine Market Opportunities
  • Advancements in Gene and Cell Therapies: Gene therapies and cell-based treatments are poised to revolutionize the treatment of genetic disorders, cancers, and other conditions that were once considered difficult to treat. These advanced therapies offer the potential to cure diseases at their genetic root, presenting a significant opportunity in the medicine market. As research continues to evolve in this area and regulatory frameworks for approval become more established, gene and cell therapies will likely become a major market segment, offering high-value, innovative treatment options that could replace or complement existing pharmaceutical approaches.
  • Growth of Immunotherapies:
    Immunotherapies, particularly those used in the treatment of cancer, are an area of immense opportunity in the medicine market. Cancer treatments such as checkpoint inhibitors, CAR-T cell therapies, and monoclonal antibodies have demonstrated remarkable success in clinical trials and are transforming oncology treatment protocols. The continued development of new and improved immunotherapies offers significant growth potential as the demand for more effective cancer treatments rises. With immuno-oncology treatments continuing to expand into new cancers, this market is expected to grow substantially.
  • Focus on Rare and Orphan Diseases:
    The rare disease segment, although smaller in terms of patient populations, is one of the fastest-growing sectors of the medicine market. Advances in precision medicine, gene therapy, and targeted treatments are creating new opportunities to treat rare and orphan diseases that were previously underserved. Governments and regulatory bodies are providing incentives for the development of treatments for rare diseases, including orphan drug status, which offers benefits like tax breaks and extended market exclusivity. Pharmaceutical companies focusing on niche markets such as rare genetic disorders, neuromuscular diseases, and rare cancers are capitalizing on the growing demand for specialized medications.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Medicine Market, providing a holistic landscape.
  • Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
  • Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
  • Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Medicine Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

REGIONAL FRAMEWORK
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

Frequently Asked Questions


What is the expected CAGR of the Medicine Market?

The Medicine Market is expected to register a CAGR of X% from 2025-2031.

What are the driving factors impacting the Medicine Market?

The major driving factors supporting the Medicine Market growth are-Rising Global Prevalence of Chronic Diseases, Aging Population and Increased Longevity

What are the future trends in the Medicine Market?

Key Future Trends in the Medicine Market are- Shift Toward Preventive Medicine, Expansion of Over-the-Counter (OTC) Medicines, and Telemedicine and Digital Health Integration

Which are the key players in the Medicine Market?

Key companies in Medicine Market are - PfizerInc , TevaPharmaceuticalIndustriesLtd , GlaxoSmithKlinePlc , AstraZenecaPlc , NovartisAG , EliLillyandCompany , SanofiSA , AllerganInc , FHoffmannLaRocheAG

What are the deliverable formats of the Medicine Market?

The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.

What are the options available for the customization of this report?

Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Medicine Market - By Type
1.3.2 Medicine Market - By End User
1.3.3 Medicine Market - By Region
1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. MEDICINE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.3. EXPERT OPINIONS

5. MEDICINE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

6. MEDICINE MARKET - GLOBAL MARKET ANALYSIS
6.1. MEDICINE - GLOBAL MARKET OVERVIEW
6.2. MEDICINE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. MEDICINE MARKET - REVENUE AND FORECASTS TO 2028 – TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. BRAND DRUGS
7.3.1. Overview
7.3.2. Brand Drugs Market Forecast and Analysis
7.4. GENERIC DRUGS
7.4.1. Overview
7.4.2. Generic Drugs Market Forecast and Analysis
8. MEDICINE MARKET - REVENUE AND FORECASTS TO 2028 – END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITAL
8.3.1. Overview
8.3.2. Hospital Market Forecast and Analysis
8.4. CLINIC
8.4.1. Overview
8.4.2. Clinic Market Forecast and Analysis
8.5. OTHER
8.5.1. Overview
8.5.2. Other Market Forecast and Analysis

9. MEDICINE MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Medicine Market Overview
9.1.2 North America Medicine Market Forecasts and Analysis
9.1.3 North America Medicine Market Forecasts and Analysis - By Type
9.1.4 North America Medicine Market Forecasts and Analysis - By End User
9.1.5 North America Medicine Market Forecasts and Analysis - By Countries
9.1.5.1 United States Medicine Market
9.1.5.1.1 United States Medicine Market by Type
9.1.5.1.2 United States Medicine Market by End User
9.1.5.2 Canada Medicine Market
9.1.5.2.1 Canada Medicine Market by Type
9.1.5.2.2 Canada Medicine Market by End User
9.1.5.3 Mexico Medicine Market
9.1.5.3.1 Mexico Medicine Market by Type
9.1.5.3.2 Mexico Medicine Market by End User
9.2. EUROPE
9.2.1 Europe Medicine Market Overview
9.2.2 Europe Medicine Market Forecasts and Analysis
9.2.3 Europe Medicine Market Forecasts and Analysis - By Type
9.2.4 Europe Medicine Market Forecasts and Analysis - By End User
9.2.5 Europe Medicine Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Medicine Market
9.2.5.1.1 Germany Medicine Market by Type
9.2.5.1.2 Germany Medicine Market by End User
9.2.5.2 France Medicine Market
9.2.5.2.1 France Medicine Market by Type
9.2.5.2.2 France Medicine Market by End User
9.2.5.3 Italy Medicine Market
9.2.5.3.1 Italy Medicine Market by Type
9.2.5.3.2 Italy Medicine Market by End User
9.2.5.4 Spain Medicine Market
9.2.5.4.1 Spain Medicine Market by Type
9.2.5.4.2 Spain Medicine Market by End User
9.2.5.5 United Kingdom Medicine Market
9.2.5.5.1 United Kingdom Medicine Market by Type
9.2.5.5.2 United Kingdom Medicine Market by End User
9.2.5.6 Rest of Europe Medicine Market
9.2.5.6.1 Rest of Europe Medicine Market by Type
9.2.5.6.2 Rest of Europe Medicine Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Medicine Market Overview
9.3.2 Asia-Pacific Medicine Market Forecasts and Analysis
9.3.3 Asia-Pacific Medicine Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Medicine Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Medicine Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Medicine Market
9.3.5.1.1 Australia Medicine Market by Type
9.3.5.1.2 Australia Medicine Market by End User
9.3.5.2 China Medicine Market
9.3.5.2.1 China Medicine Market by Type
9.3.5.2.2 China Medicine Market by End User
9.3.5.3 India Medicine Market
9.3.5.3.1 India Medicine Market by Type
9.3.5.3.2 India Medicine Market by End User
9.3.5.4 Japan Medicine Market
9.3.5.4.1 Japan Medicine Market by Type
9.3.5.4.2 Japan Medicine Market by End User
9.3.5.5 South Korea Medicine Market
9.3.5.5.1 South Korea Medicine Market by Type
9.3.5.5.2 South Korea Medicine Market by End User
9.3.5.6 Rest of Asia-Pacific Medicine Market
9.3.5.6.1 Rest of Asia-Pacific Medicine Market by Type
9.3.5.6.2 Rest of Asia-Pacific Medicine Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Medicine Market Overview
9.4.2 Middle East and Africa Medicine Market Forecasts and Analysis
9.4.3 Middle East and Africa Medicine Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Medicine Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Medicine Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Medicine Market
9.4.5.1.1 South Africa Medicine Market by Type
9.4.5.1.2 South Africa Medicine Market by End User
9.4.5.2 Saudi Arabia Medicine Market
9.4.5.2.1 Saudi Arabia Medicine Market by Type
9.4.5.2.2 Saudi Arabia Medicine Market by End User
9.4.5.3 U.A.E Medicine Market
9.4.5.3.1 U.A.E Medicine Market by Type
9.4.5.3.2 U.A.E Medicine Market by End User
9.4.5.4 Rest of Middle East and Africa Medicine Market
9.4.5.4.1 Rest of Middle East and Africa Medicine Market by Type
9.4.5.4.2 Rest of Middle East and Africa Medicine Market by End User

10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11. MEDICINE MARKET, KEY COMPANY PROFILES
11.1. PFIZER INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. TEVA PHARMACEUTICAL INDUSTRIES LTD.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. GLAXOSMITHKLINE PLC
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. ASTRAZENECA PLC
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. NOVARTIS AG
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. ELI LILLY AND COMPANY
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SANOFI S.A.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ALLERGAN, INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. F. HOFFMANN-LA ROCHE AG
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. MERCK AND CO., INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments

12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS

The List of Companies

1.Pfizer Inc.
2.Teva Pharmaceutical Industries Ltd.
3.GlaxoSmithKline plc
4.AstraZeneca plc
5.Novartis AG
6.Eli Lilly and Company
7.Sanofi S.A.
8.Allergan, Inc.
9.F. Hoffmann-La Roche AG
10.Merck and Co., Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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