France Smartcare Market to Grow at a CAGR of 15.1% to reach US$ 11,475.65 million from 2022 to 2030
The France smartcare market size is projected to grow from US$ 3,728.01 million in 2022 to US$ 11,475.65 million by 2030; it is estimated to record a CAGR of 15.1% during 2022–2030.
Market Insights and Analyst View:
Smartcare is the embodiment of smart systems to improve patient flow and patient care in healthcare institutions through intelligent interchange of data. In smartcare, the patient data is immediately forwarded from one department to another or from one facility to another, depending on where the patient is scheduled to go next. Remote patient monitoring (RPM), electronic health record (EHR), and radiofrequency identification (RFID) systems used in healthcare settings are among the technologies used in smartcare. Use of artificial intelligence (AI), internet of things (IoT), 5G technology, and technologically advanced products fuels the France smartcare market growth.
Growth Drivers and Restraints:
The competence to collect, manage, and use data from medical devices has become complicated owing to the increasing number of medical devices used in patient care. Medical device connectivity is referred to as a linking of medical devices to electronic medical records (EMRs) or electronic health records (EHRs) to facilitate data exchange. An EHR is a digital representation of a paper chart of patient. EHRs are real-time and patient-centered records that yield information available securely and instantly to authorized users. An EHR system is designed to exceed standard clinical data collected in a provider's office. It provides a more comprehensive view of a patient's care. Integrating medical device and equipment data with EMR systems and clinical solutions is critical to modern healthcare. Initially, when the concept of EMR was introduced, the hospital staff had to manually store and check the data from the medical device, which was time consuming. With the use of medical device connectivity, the data is transferred directly from a medical device to the EHR/EMR software, reducing the time from ~4 minutes to 20 seconds. Also, the integration is crucial to provide a comprehensive and up-to-date view of a patient’s health information, enabling providers to make informed decisions and deliver better patient care quickly. It also reduces the healthcare costs. With the rise of wearable and portable medical devices and new medical equipment, healthcare providers increasingly integrate vast amounts of data into their EMR systems.
The high adoption of EMR solutions and growing emphasis of governments across France on building nationwide healthcare information exchanges propel the demand for efficient smartcare solutions. Thus, the growing use of EHR/EMR and medical device connectivity fuels the growth of the France smartcare market.
Telehealth bridges the gap between patients, and physicians and health systems by enabling patients to communicate with physicians through virtual channels remotely. It helps reduce unnecessary visits to hospitals for minor issues. When paired with telehealth services, wearable technology can help care providers study real-time patient data to generate intelligent individualized insights and curate the best treatment plan from the comfort and safety of their homes. Due to the COVID-19 outbreak, there is an increase in the use of telehealth services and wearable technologies that are tagged through medical device connectivity. After the outbreak, virtual consultations are fully reimbursed by the French Social Security. Remote patient monitoring (RPM) is a telehealth program that collects and analyzes patient health or medical data. It has expanded in the past decade and has improved medical outcomes and treatment of noncommunicable chronic diseases. However, implementation of RPM into routine clinical activities has been limited. The Ministry of Health in France introduced a temporary funding program named as ETAPES in 2014. Through this program, healthcare providers and RPM solution providers for diabetes, chronic heart failure, chronic renal failure, chronic respiratory failure, and therapeutic implantable cardiac prosthesis are temporarily being funded. Moreover, the program is a prefiguration for integrating the RPM funding model for routine clinical activities into a model. It was extended till 2022 to encourage the use of innovative technologies in addition to exploring the advantages telemedicine could bring to the French health system. The growing focus of French Government on reimbursement for telehealth and RPM creates awareness about the use of smartcare devices in the healthcare system. Thus, the availability of favorable reimbursement scenario fuels the growth of the France smartcare market.
According to an article published by Business News Daily, an average hospital room contains 15–20 connected medical devices. In a few hospitals, connected medical devices outnumber mobile devices, such as laptops and smartphones, by four to one. Nearly 85,000 connected devices are housed in a large hospital, with each device performing significant roles in delivering care while ensuring operational efficiency. These connected devices are vulnerable to malicious cyberattacks. Therefore, the number of data breaches associated with healthcare information and patient data has been gradually increasing. Healthcare is second only to the finance industry in the number of cyberattacks annually. Recent cyberattacks have shifted the issue of cybersecurity and data risk management centers in front. In December 2022, a hospital in Versailles canceled operations and had to transfer some patients to other hospitals for emergency surgeries due to a cyberattack. Similarly, in August 2022, the Corbeil-Essonnes hospital was also targeted by a cyberattack. Thus, digital healthcare is a lucrative target for cyberattacks and data breaches, with misconfigured cloud storage buckets, weaponized ransomware, and phishing e-mails, which, in turn, restrains the adoption of smartcare.
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France Smartcare Market: Strategic Insights
Market Size Value in US$ 3,728.01 million in 2022 Market Size Value by US$ 11,475.65 million by 2030 Growth rate CAGR of 15.1% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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France Smartcare Market: Strategic Insights
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Market Size Value in | US$ 3,728.01 million in 2022 |
Market Size Value by | US$ 11,475.65 million by 2030 |
Growth rate | CAGR of 15.1% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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Report Segmentation and Scope:
The "France Smartcare Market" is segmented on the basis of type and end user. The smartcare market, by type, is segmented into connected beds, remote patient monitoring, smart pills, smart syringes, RFID systems, electronic health records, and others. The smartcare market, by end user, is segmented into hospitals and clinics, medical nursing homes, home healthcare, and others.
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Segmental Analysis:
The smartcare market, by type, is segmented into connected beds, remote patient monitoring (RPM), smart pills, smart syringes, RFID systems, electronic health records (EHR), and others. The remote patient monitoring segment held the largest market share in 2022, whereas the electronic health records segment is anticipated to register the highest CAGR of 16.0% during the forecast period. Remote Patient Monitoring (RPM) technology is used to collect patient’s medical information from health monitoring and diagnostic devices from patient’s location and then transfer it to the physician or doctor at another location. RPM remotely supervises and analyzes physiological parameters such as pulse rate, heart rate, blood oxygen levels, blood sugar, blood pressure, and vital signs. This helps reduce the patient hospitalization time and reduces hospital visits, which further improves patient's care and quality of life. Remote Monitoring devices development puts the future balance of public finances, especially healthcare, in jeopardy. TELEHPAD is an initiative that aims to make healthcare more accessible in rural regions. Patients, including both nursing home residents and the general local population, access teleconsultations as rooms in the nursing homes are directly connected to general and psychiatric hospitals. Thus, they can benefit from teleconsultations in geriatric medicine, psychiatry, dermatology, cardiology, and neurology. TELEFIGAR is another program aimed at offering nursing home residents the option of teleconsultations with experts in geriatrics, neurology, dermatology, and endocrinology.
Electronic Health Records (EHRs) or Electric Medical Records (EMRs) are patient-centered and real-time digital records that enable patient data to be readily available to authorized healthcare professionals. It contains patient's medical history, medications, allergies, treatment plans, diagnoses, immunization dates, radiology images, and laboratory test results. The national digital health agency (ANS) was formed in December 2019 to operationalize the government’s e-health strategy. Dossier Medical Partagé (DMP) is a fully interoperable EMR for all French citizens who are covered by health insurance. The nationwide DMP was launched in 2019. It is a free, secure, and confidential health record that stores patient’s information in one centralized, digital location. Increasing initiatives by French Government to introduce EHRs in their healthcare system boost the France smartcare market growth for the electronic health records segment.
In healthcare, Radio Frequency Identification (RFID) systems are used for patient, equipment, medicine, and pharmaceutical tracking and health records maintenance. RFID tags can be attached to patients' wristbands or belongings to track their location and status. It helps prevent patient abductions and improve patient care. The tags can be attached to medication bottles to track their inventory and ensure patients receive the correct medications. It prevents medication errors, which can be harmful to patients. Tracking equipment, machines, and vehicles are critical for hospitals as it informs hospitals of the location of their equipment, vehicles, and so on and assists in asset maintenance. RFID tags can also be used to track assets as they move within and outside the hospital.
France Smartcare Market, by Type – 2022 and 2030
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The smartcare market, by end user, is segmented into hospitals and clinics, medical nursing homes, home healthcare, and others. The hospitals and clinics segment held the largest market share in 2022, whereas the home healthcare segment is anticipated to register the highest CAGR of 15.8% during the forecast period.
Country Analysis:
France has long been recognized for its excellence in healthcare, with renowned medical institutions, cutting-edge research, and highly skilled healthcare professionals. According to the World Health Organization (WHO), France ranks sixth globally in terms of investments (public and private) in healthcare. The government of France is focusing on introducing technologically advanced products in its healthcare facilities to become a global healthcare innovation leader in the future. The Health Innovation 2030 plan was launched by the government of France in 2021. As a part of this plan, the government invested US$ 693.46 million (€ 650 million) to accelerate the digital health strategy in the country. Thus, the increasing focus of government on digital health initiatives drives the smartcare market growth in France.
Rising product launches of smart wearable devices that can be used for health monitoring by the population and growing use of telehealth and telemedicine applications for consultations boost the growth of the France smartcare market. Furthermore, increasing use of EHR and RPM technologies by healthcare institutions such as hospitals, nursing homes, and clinics for monitoring and managing their patient flow to improve the quality of care and working efficiency of the institution in France also bolsters the smartcare market growth.
Competitive Landscape and Key Companies:
Oracle Corp, Samsung Healthcare, BodyCap, GE Healthcare Technologies, Orme SARL, AdolfWurth GmbH & Co KG, McKesson Corp, Kaspard, Domalys SAS, Siemens Healthineers, MintT, and Groupe WINNCARE SAS are among the largest smartcare companies. These companies focus on new technologies, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide.
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Type, and End User
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Smartcare is the embodiment of smart systems to improve patient flow and patient care in healthcare institutions through intelligent interchange of data. In smartcare, the patient data is immediately forwarded from one department to another or from one facility to another, depending on where the patient is scheduled to go next. Remote patient monitoring (RPM), electronic health record (EHR), and radiofrequency identification (RFID) systems used in healthcare settings are among the technologies used in smartcare.
The growth of the US smartcare market is attributed to a few key factors, such as growing penetration of EHR or EMR and medical device connectivity and favorable reimbursement scenario.
The smartcare market majorly consists of the players such as Oracle Corp, Samsung Healthcare, BodyCap, GE Healthcare Technologies, Orme SARL, AdolfWurth GmbH & Co KG, McKesson Corp, Kaspard, Domalys SAS, Siemens Healthineers, MintT, and Groupe WINNCARE SAS
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Research Methodology
2.1 Coverage
2.2 Secondary Research
2.3 Primary Research
3. France Smartcare Market – Market Landscape
3.1 Overview
3.1.1 France PEST Analysis
4. France Smartcare Market – Key Market Dynamics
4.1 Market Drivers
4.1.1 Growing Penetration of EHR or EMR and Medical Device Connectivity
4.1.2 Favourable Reimbursement Scenario
4.2 Market Restraints
4.2.1 High Risk of Cyberattack
4.3 Market Opportunities
4.3.1 Promising 5G Technology to Enhance Smartcare
4.4 Future Trends
4.4.1 Inclination Toward Home Healthcare
4.5 Impact Analysis
5. France Smartcare Market – Country Analysis
5.1 France Smartcare Market Revenue Forecast and Analysis
6. France Smartcare Market – Revenue and Forecast to 2030 – by Product Type
6.1 Overview
6.2 France Smartcare Market Revenue Share, by Product Type 2022 & 2030 (%)
6.3 Remote Patient Monitoring Systems
6.3.1 Overview
6.3.2 Remote Patient Monitoring Systems: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
6.4 Electronic Health Records
6.4.1 Overview
6.4.2 Electronic Health Records: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
6.5 RFID Systems
6.5.1 Overview
6.5.2 RFID Systems: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
6.6 Smart Syringes
6.6.1 Overview
6.6.2 Smart Syringes: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
6.7 Connected Beds
6.7.1 Overview
6.7.2 Connected Beds: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
6.8 Smart Pills
6.8.1 Overview
6.8.2 Smart Pills: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
6.9 Others
6.9.1 Overview
6.9.2 Others: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
7. France Smartcare Market – Revenue and Forecast to 2030 – by End User
7.1 Overview
7.2 France Smartcare Market Revenue Share, by End User 2022 & 2030 (%)
7.3 Hospitals and Clinics
7.3.1 Overview
7.3.2 Hospitals and Clinics: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Medical Nursing Homes
7.4.1 Overview
7.4.2 Medical Nursing Homes: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Home Healthcare
7.5.1 Overview
7.5.2 Home Healthcare: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
8. Company Profiles
8.1 Oracle Corp
8.1.1 Key Facts
8.1.2 Business Description
8.1.3 Products and Services
8.1.4 Financial Overview
8.1.5 SWOT Analysis
8.1.6 Key Developments
8.2 GE HealthCare Technologies Inc
8.2.1 Key Facts
8.2.2 Business Description
8.2.3 Products and Services
8.2.4 Financial Overview
8.2.5 SWOT Analysis
8.2.6 Key Developments
8.3 McKesson Corp
8.3.1 Key Facts
8.3.2 Business Description
8.3.3 Products and Services
8.3.4 Financial Overview
8.3.5 SWOT Analysis
8.3.6 Key Developments
8.4 Siemens Healthineers AG
8.4.1 Key Facts
8.4.2 Business Description
8.4.3 Products and Services
8.4.4 Financial Overview
8.4.5 SWOT Analysis
8.4.6 Key Developments
8.5 Samsung Healthcare
8.5.1 Key Facts
8.5.2 Business Description
8.5.3 Products and Services
8.5.4 Financial Overview
8.5.5 SWOT Analysis
8.5.6 Key Developments
8.6 Orme SARL
8.6.1 Key Facts
8.6.2 Business Description
8.6.3 Products and Services
8.6.4 Financial Overview
8.6.5 SWOT Analysis
8.6.6 Key Developments
8.7 Kaspard
8.7.1 Key Facts
8.7.2 Business Description
8.7.3 Products and Services
8.7.4 Financial Overview
8.7.5 SWOT Analysis
8.7.6 Key Developments
8.8 MintT
8.8.1 Key Facts
8.8.2 Business Description
8.8.3 Products and Services
8.8.4 Financial Overview
8.8.5 SWOT Analysis
8.8.6 Key Developments
8.9 BodyCap
8.9.1 Key Facts
8.9.2 Business Description
8.9.3 Products and Services
8.9.4 Financial Overview
8.9.5 SWOT Analysis
8.9.6 Key Developments
8.10 Adolf Wurth GmbH & Co KG
8.10.1 Key Facts
8.10.2 Business Description
8.10.3 Products and Services
8.10.4 Financial Overview
8.10.5 SWOT Analysis
8.10.6 Key Developments
8.11 Domalys SAS
8.11.1 Key Facts
8.11.2 Business Description
8.11.3 Products and Services
8.11.4 Financial Overview
8.11.5 SWOT Analysis
8.11.6 Key Developments
8.12 Groupe WINNCARE SAS
8.12.1 Key Facts
8.12.2 Business Description
8.12.3 Products and Services
8.12.4 Financial Overview
8.12.5 SWOT Analysis
8.12.6 Key Developments
9. Appendix
9.1 About The Insight Partners
9.2 Glossary of Terms
List of Tables
Table 1. Glossary of Terms
List of Figures
Figure 1. France Smartcare Market Segmentation
Figure 2. France Smartcare Market – Key Takeaways
Figure 3. France: PEST Analysis
Figure 4. France Smartcare Market: Key Industry Dynamics
Figure 5. France Smartcare Market Impact Analysis of Drivers and Restraints
Figure 6. France Smartcare Market – Revenue Forecast and Analysis – 2020–2030
Figure 7. France Smartcare Market Revenue Share, by Product Type 2022 & 2030 (%)
Figure 8. Remote Patient Monitoring Systems: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Electronic Health Records: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. RFID Systems: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Smart Syringes: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Connected Beds: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Smart Pills: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Others: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. France Smartcare Market Revenue Share, by End User 2022 & 2030 (%)
Figure 16. Hospitals and Clinics: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Medical Nursing Homes: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Home Healthcare: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Others: France Smartcare Market – Revenue and Forecast to 2030 (US$ Million)
The List of Companies - France Smartcare Market
- Oracle Corp
- Samsung Healthcare
- BodyCap
- GE Healthcare Technologies
- Orme SARL
- AdolfWurth GmbH & Co KG
- McKesson Corp
- Kaspard
- Domalys SAS
- Siemens Healthineers
- MintT
- Groupe WINNCARE SAS
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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.
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