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Medical Writing Market Poised for Substantial Growth, Forecasted to Surpass USD 9.4 Billion by 2032| Market.us Report

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New York, April 24, 2023 (GLOBE NEWSWIRE) — The global medical writing market size is expected to be worth around USD 9.4 Billion by 2032 from USD 3.6 Billion in 2022, growing at a CAGR of 10.4% during the forecast period from 2022 to 2032. The medical writing market encompasses a vast range of services, including regulatory writing, medical communication, scientific publication as well marketing communication.

Regulatory writing involves making documents that are required by regulatory agencies to support the approval of the latest drugs or medical devices, while medical communication involves developing scientific content for healthcare professionals or patients. Scientific publication involves preparing manuscripts for submission to scientific journals, while marketing communication involves developing promotional materials for pharmaceutical or medical device companies.

Medical Writing Market

Get additional highlights on major revenue-generating segments, Request a Medical Writing Market sample report at https://market.us/report/medical-writing-market/request-sample/

Key Takeaway:

  • By type, the clinical writing segment held the largest market share in 2022.
  • By application, the medical journalism segment held the largest market with a 40.5% share.
  • By end user, the contract research organizations segment is estimated to dominate the global medical writing market.
  • In 2022, North America dominated the global medical writing market with a 38% market share.
  • APAC is anticipated to have the highest CAGR among all the regions.

Factors affecting the growth of the medical writing market?

  • Increasing need for regulatory writing services: As the regulatory demands for clinical trials come increasingly complex, there is a growing demand for medical writers who can make high-quality regulatory documents like clinical study reports, protocols, and other documents required for regulatory submissions.
  • Emphasis on pharmacovigilance and drug safety: The rising focus on patient safety and pharmacovigilance has led to a larger requirement for medical writers to make safety-related documents like adverse event reports, risk management plans, and safety narratives.
  • Rising outsourcing of medical writing services: Pharmaceutical & biotech companies are increasingly outsourcing their medical writing requirements to specialized agencies, which has led to the growth of the medical writing market.
  • Lack of skilled medical writers: The lack of skilled medical writers has led to a rise in demand for these services, as pharmaceutical and biotech companies struggle to find qualified writers to make their medical documents.
  • Growing focus on evidence-based medicine & clinical research: The increasing emphasis on evidence-based medicine & clinical research has led to a larger need for medical writers to create high-quality scientific documents that meet the standards required for publication in reputable scientific journals.

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Market Growth

The medical writing market is projected to experience significant growth in the becoming years. This growth can be attributed to a range of factors, including the increasing demand for healthcare services, the growth of the pharmaceutical & biotechnology industries, and the need for regulatory writing services to support the approval of new drugs and medical devices. As healthcare services continue to expand, there is a growing requirement for medical writers who can make high-quality documents that meet regulatory requirements and support the development and approval of new drugs and therapies. This includes documents like clinical study reports, protocols, and other documents required for regulatory submissions.

Regional Analysis

With a market share of 38%, North America is predicted to be the most profitable region in the worldwide market for medical writing. Over the forecast period, North America is anticipated to grow at a CAGR of 10.4%. The biggest market for medical writing services is in North America, which is fuelled by a robust healthcare sector, a focus on regulatory compliance, and a high need for clinical trials. With many of the greatest pharmaceutical corporations in the world having their headquarters there, the US is a significant market for medical writing services. Because of the area’s huge & quickly increasing healthcare sector, rising need for clinical trials as well emphasis on digital innovation, the market for medical writing services in the Asia Pacific region is expanding quickly.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 3.6 billion
Market Size (2032) USD 9.4 billion
CAGR (from 2023 to 2032) 10.4%
North America Revenue Share 38%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

As the regulatory requirements for pharmaceutical and medical device goods get more complicated, there is a greater need for qualified medical writers who can assist businesses achieve compliance. Globally, there are an increasing number of clinical trials being undertaken, which necessitates a large quantity of documentation, including protocols, research results, and informed consent forms. Globally, the healthcare sector is expanding as more businesses enter the market and provide cutting-edge goods. The need for medical writing services for product development, regulatory compliance, and marketing communications has increased as a result of this.

Market Restraints

Smaller businesses may find it challenging to pay the costs associated with medical writing services. In some areas of the healthcare business, this may reduce the demand for medical writing services. It might be challenging for medical writers to stay up to date with the most recent regulations because the regulatory environment for healthcare goods is continuously changing. As a result, there may be less of a need for medical writing services and uncertainty for businesses. The medical writing industry is extremely competitive, with several service providers providing comparable products. The demand for medical writing services as well as the growth of certain businesses may be hampered as a result. Deadlines for medical writing assignments are frequently short, which puts authors under pressure and lowers the quality of the finished work.

Market Opportunities

The healthcare sector is placing more and more emphasis on digital content including mobile apps, web platforms, and e-learning courses. The demand for medical writers who can create excellent digital material is probably going to increase. Medical writers who are knowledgeable in these fields now have more chances thanks to the rise of biosimilars and biologics. These goods call for particular knowledge and skill, which may serve as a useful point of differentiation for medical writing businesses. Real-world evidence is becoming more and more important in the healthcare sector, which calls for new kinds of recording and communication techniques.

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Report Segmentation of the Medical Writing Market

Type Insight

The most attractive area of the global medical writing business is clinical writing. In 2022, the market for medical writing will have a total revenue share of 41.4% for clinical writing. Developing clinical trial protocols, clinical study reports, and informed consent forms are examples of clinical writing kind of medical writing. Creating documentation for submission to regulatory organizations for approval, such as marketing authorization requests and investigational new medication applications, is known as regulatory writing.

Application Insight

With a projected revenue share of 40.5%, the category of medical journalism is predicted to be the most profitable in the global market for medical writing. The production of news pieces, features as well other types of written material for publications in magazines, newspapers, online news portals, and other media sources is owing to this section.

End-User Insight

CROs are businesses that outsource research services to biotechnology and pharmaceutical firms. To assist their clients’ research initiatives, such as the creation of clinical trial protocols and study reports, these companies frequently require medical writing services. Government agencies, academic institutions, and other businesses that require medical writing services are examples of other end-users. For a range of reasons, including scientific communication, regulatory compliance, and medical education, these organizations could need medical writing services.

Recent Development of the Medical Writing Market

  • December 2021, Parexel announced the expansion of its medical writing capabilities in the Asia Pacific region with the opening of a new medical writing hub in Hyderabad, India.
  • November 2021, Cactus Communications introduced the latest artificial intelligence-powered medical writing platform, called Rize Medical Writing, which aims to streamline the medical writing process and reduce errors.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/medical-writing-market/request-sample/

Market Segmentation

Based on Type

  • Clinical Writing
  • Regulatory Writing
  • Scientific Writing
  • Other Types

Based on the Application

  • Medical Journalism
  • Medical Education
  • Medico Marketing
  • Other Applications

Based on End-User

  • Pharmaceutical & Biotechnology Companies
  • Contract Research Organizations
  • Other End-Users

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

The medical writing market is highly competitive and fragmented, with many companies operating in the space. For example, IQVIA is one of the largest companies in the medical writing market, with a market share of around 15%. The company provides a range of medical writing services, including clinical study reports, and regulatory submissions as good publications.

Some of the major players include:

  • Parexel International Corporation
  • Trilogy Writing & Consulting GmBH
  • Freyr
  • Cactus Communications
  • Labcorp Drug Development
  • IQVIA Holdings Inc.
  • Omics International
  • Synchrogenix
  • Siro Clinpharm Private Limited
  • Quanticate International Limited
  • Inclin Inc.
  • Other Key Players

Browse More Related Reports:

  • Medical Crutches Market size is expected to be worth around USD 1,205.8 million by 2032 from USD 695.9 million in 2022, growing at a CAGR of 5.8% during the forecast period from 2022 to 2032.
  • Medical tubing market was valued at USD 9.81 billion in 2022 and is expected to reach around USD 20 billion in 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 7.8%.
  • Medical Holography market was valued at USD 952 million in 2022 and is expected to grow to USD 1998 million in 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 28.3%.
  • Medical transcription software market size is expected to be worth around USD 190.2 billion by 2032 from USD 77.8 billion in 2022, growing at a CAGR of 9.60% during the forecast period from 2023 to 2032.

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Rainbow Robotics begins pre-orders of Bimanual Mobile Manipulator RB-Y1, the world’s first research platform for AI experts for $80,000 USD

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DAEJEON, South Korea, May 9, 2024 /PRNewswire/ — Rainbow Robotics(CEO Jungho Lee), a robot platform specialized company, will begin pre-orders for the Bimanual Mobile Manipulator RB-Y1 from May 8.

During the pre-order period, the research platform is sold for $80,000 USD and the commercial platform is sold for $120,000 USD (VAT excluded). Products are scheduled to be delivered sequentially starting in October.
RB-Y1 is a research platform that has both arms with 7 degrees of freedom per arm for smooth movements similar to human movements. It is a humanoid-like robot with a single leg with 6 degrees of freedom on a mobile platform for a wide work radius. The LiDAR system is adopted for autonomous movement, and a high-performance 3D recognition sensor and master ARM are provided as options to increase usability. In line with the recent trend of the AI era, Rainbow Robotics plans to provide various APIs and options so that AI developers can easily utilize them for research purposes.
Recently, various organizations are introducing humanoid robots. However, they are only used for their own purposes and there is no standard platform for various AI robot researchers. Rainbow Robotics’ RB-Y1 is the first to commercially sell such a research platform.
Unlike existing simple industrial robots, a Bimanual Mobile Manipulator is a humanoid robot that uses both arms and is suitable for advanced manufacturing sites and services. It is a next-generation robot platform that can be used for complex assembly, manufacturing, and collaboration beyond existing simple automation processes.
If you would like to pre-order RB-Y1, please contact us through enquiry page or email us at [email protected].
Meanwhile, Rainbow Robotics will participate as a bronze sponsor in the IEEE International Conference on Robotics and Automation (ICRA 2024), which will be held at Pacifico Yokohama, Japan on May 13.
During the exhibition, various demonstrations will be shown of controlling RB-Y1 with real-time remote operation technology, which links the data arm and simulation system. Additionally, Rainbow Robotics plans to exhibit the small, high-precision collaborative robot RB3-730 and the quadruped robot RBQ-10.
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AgriBusiness Global™ Announces 2024 Event Line-Up: Connecting Crop Input Leaders Worldwide

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WILLOUGHBY, Ohio, May 8, 2024 /PRNewswire/ — AgriBusiness Global, the premier business source for leaders in the global crop input value chain, is thrilled to announce its lineup of events for 2024. For 37 years, AgriBusiness Global has been the go-to resource for quality, trustworthy information and analysis, leading the industry in providing the next generation of crop solutions covering synthetic crop protection, biologicals, and plant health.

In 2024, AgriBusiness Global will host three events, each designed to connect industry leaders, promote innovation, and drive business growth:
AgriBusiness Global℠ LATAM Conference Date: 14-15 MayLocation: Panama City, Panama
Capitalizing on Emerging Technologies in LATAM
The ABG LATAM Conference will bring together industry experts and influencers to discuss the latest trends and developments in crop protection, plant health, biologicals, and ag technology specific to the Latin American region. The Latin-American market offers new opportunities for business growth and partnerships with leading players in the region. Learn More>
AgriBusiness Global℠ Trade Summit Date: 7-8 AugustLocation: Orlando, Florida, USA
The #1 Global Agribusiness Event- Dedicated to Worldwide Networking and New Business Development               
The ABG Trade Summit is the trusted forum for advancing development in the rapidly emerging global crop protection, ag tech, plant health, and biological sectors. Attendees can expect to meet with the world’s leading manufacturers, exporters, trading companies, sellers, formulators, and consultants.  Trade Summit facilitates global trade by offering educational sessions, a robust exhibit floor, private meeting rooms, and dedicated networking opportunities for the world market to connect, engage, and build business. Learn More>
AgriBusiness Global℠ SE Asia ConferenceDate: 6-7 NovemberLocation: Jakarta, Indonesia
Empowering Southeast Asia’s AgriBusiness for Global Impact
The ABG Southeast Asia Conference, produced in cooperation with the Indonesian CropCare Association, will showcase cutting-edge technologies and innovations in crop production, addressing the unique challenges and opportunities in the Southeast Asian market. Attendees will gain unique insights to prepare for the future and navigate the present in the rapidly evolving agricultural market. Learn More>
“Our events are dynamic platforms for industry leaders to connect, collaborate, and drive innovation,” said Eric Davis, Group Director at AgriBusiness Global. “We are excited to bring together the brightest minds in the industry to explore new ideas, foster partnerships, and shape the future of agriculture.”
For information about the 2024 events and how to participate, visit AgriBusinessGlobal.com.
About Meister Media Worldwide
For media inquiries, please contact:Amy Reddington, Show Director
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Economic Shifts Ahead as AI Integrates Deeply into Work and Society, Fueling $4.4 Trillion Growth

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USA News Group News Commentary
Issued on behalf of Scope AI Corp.
VANCOUVER, May 8, 2024 /PRNewswire/ —  USA News Group News Commentary – New developments in AI technology are currently changing the face of work, economies, and society as we know it, according to analysts at McKinsey & Company who are projecting generative AI (gen AI) could add $4.4 trillion annually to the global economy. Between January and March of this year alone, the world’s largest cloud-computing giants have collectively invested $40 billion mostly into data centres equipped to deal with growing AI workloads, according to The Economist. The shift is leading experts to witness how AI companies are leading a transition from Software-as-a-Service to Service-as-Software, turning the table on the very essence of SaaS, representing a $4.6 trillion opportunity. A variety of tech companies have recently advanced the integration of AI, providing swift, safe, and cost-effective solutions for businesses to adopt artificial intelligence technology this past week, including: Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Meta Platforms, Inc. (NASDAQ: META), Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and C3.ai, Inc. (NYSE: AI).

The article continued: Seeing the extraordinary speed of AI’s advancements and impacts, combined with surging private- and public-sector demand, is causing regulators in the USA and EU to issue legislation calling for action. Now analysts are trying to determine whether the GenAI boom is setting up to be another bubble, or a legitimate long-term investment opportunity.
SCOPE AI PROVIDES CORPORATE UPDATE
Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) (“Scope” or the “Company”) today provided an update  on new developments of Scope’s artificial intelligence driven recognition technology called GEM (General Enterprise Machine Learning) system. Built on advanced visual recognition and neural network technology, GEM could advance industries, including Advertising and Gaming, by providing them with new insights and capabilities.
Advertising: GEM aims to enable advertising businesses to personalize ad content based on real-time user behavior analysis. By leveraging visual recognition technology, companies can create highly targeted and engaging ads, maximizing return on ad spend and driving customer engagement to new heights.
Gaming:  In the gaming industry, GEM aims to enhance user experiences by customizing gameplay and recommendations. By analyzing player behavior using neural networks, GEM provides customers and developers with invaluable insights with the intention of optimizing game design, increasing user retention, and maximizing revenue potential.
Unveiling Neural Networks: Neural networks are the foundation of GEM’s technology. These complex algorithms mimic the structure and functionality of the human brain, enabling machines to learn from vast amounts of data and make intelligent predictions and decisions. By harnessing the power of neural networks, GEM offers comprehensive capabilities in advanced pattern recognition, data analysis, and decision-making across industries.
“We’re very pleased at how seamless we were able to streamline, enhance, and strengthen our platform with the latest performance and security upgrades made to our infrastructure”, said Sean Prescott, Founder and Non-Executive Chairman of Scope AI. “The next generation of our platform will set us apart in the kind and sensitivity of data we can process and store. It’s a potential game-changer for the industry.”
Scope’s GEM platform includes advanced features designed to enhance user experience and security, all while streamlining operations. Built-in customer support and user management modules allow for seamless assistance, while the native referral system fosters user engagement and growth. Along with the full admin suite for comprehensive analysis and reporting, businesses are fully empowered with unparalleled capabilities and insights.
CONTINUED… Read this and more news for Scope AI at:  https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
In other industry developments and happenings in the market this week include:
Meta Platforms, Inc. (NASDAQ: META), the parent company of Facebook, Instagram, and WhatsApp, recently teamed up with the Georgia Institute of Technology to create a massive open dataset to advance AI solutions for carbon capture, a technology with promising potential to address global climate concerns. As per the collaboration, Georgia Tech and Meta say their massive database could potentially make it easier and faster to design and implement new direct air capture technologies.
“The open-source database enabled the team to train an AI model that is orders of magnitude faster than existing chemistry simulations,” said Georgia Tech in a press release. “The project, named OpenDAC, could accelerate climate solutions the planet desperately needs.”
Researchers at Meta’s Fundamental AI Research (FAIR) team were already looking for ways to harness their machine-learning prowess to address climate concerns. They ultimately landed on direct air capture as what they believed to be a promising technology, and immediately reached out to Georgia Tech. FAIR’s lead authors generated the database by running quantum chemistry computations on inputs provided by Georgia Tech’s team, using about 400 million CPU hours along the way, and surpassing several hundreds of times more computing than the average academic computing lab can do in a year.
Amazon.com, Inc. (NASDAQ: AMZN) through its global Amazon Web Services (AWS) cloud system subsidiary recently rolled out its new AI system called Q, which it has dubbed as “the most capable generative artificial intelligence (AI)-powered assistant for accelerating software development and leveraging companies’ internal data.”
As well, Amazon also recently launched its Custom Model Import for Bedrock tool, which CEO Andy Jassy called a “sneak big launch as it satisfies a customer request we’ve heard frequently and that nobody has yet met.” The tool allows customers to import custom models they’ve built in Amazon SageMaker into tits Amazon Bedrock platform. Doing so lets enterprises utilize AI investments they’ve already made, while also leveraging Bedrock’s capabilities to scale their models and applications.
“Customers are excited about this, and as more companies find they’re employing a mix of custom-built models along with leveraging existing LLMs,” said Jassey. “The prospect of these two linchpin services in SageMaker and Bedrock working well together is quite appealing.”
Apple Inc. (NASDAQ: AAPL), whose iPhones currently hold the Top 4 (and 5 of the Top 10) best-selling smartphone models by sales, recently reported an all-time revenue record in sales in its most recent financial results. While being seen as potentially late to the game on AI, several reports in recent weeks has suggested that Apple is not only talking to OpenAI and/or Google about powering some of its AI features, it’s also been reportedly spending “millions of dollars a day” training its own AI model, called Ajax.
Now industry experts are saying the iPhone is about to become an “AI phone”, in anticipation of Apple’s upcoming iOS 18. A key anticipated feature of iOS 18 is Apple’s own large language model (LLM), similar to the technology behind AI chatbots like ChatGPT. It’s widely speculated that this Apple-developed LLM will be integrated with Siri, enhancing the capabilities of the iPhone’s digital assistant. As indicated by Bloomberg in late April, it’s suggested that Apple’s  LLM will be entirely on-device, meaning the tech will be powered inside by the iPhone’s processor, rather than in the cloud—which may be a bit less powerful and knowledgeable, but with far quicker response times.
C3.ai, Inc. (NYSE: AI), an Enterprise AI application software company, is actively working to enhance the petroleum industry in Houston, through a cooperative effort that allows oil and gas companies to share AI technology and applications with each other. This effort is meant to curb companies from withholding information from competitors, with the goal of collaboration instead.
“We’re building the applications that are, you know, monitoring every device on every offshore oil rig in real time so that they can see with 18 hours in advance before something fails and just shut it down,” said Tom Siebel, CEO of C3.ai. Siebel has explained that AI is at work in oil and gas, diagnosing issues and assisting with maintenance, giving the example of a giant like Shell uses AI to track their half a million valves around the world.
“They can see what’s going on,” said Siebel. “They can predict when a valve is going to be stuck open or closed before it happens, and if one of these valves gets stuck open or closed, things go real bad, real fast, right? And so, they’ve decided to make these applications available to Aramco, Eni, Chevron, Phillips.”
A recent report from Research and Markets predicted that the global AI in oil and gas market is expected to surge to an impressive $5.96 billion by 2028, growing at a CAGR of 13.3%.
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
 CONTACT:USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Scope AI Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope AI Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope AI Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope AI Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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