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Increasing R&D investments worldwide to cater to the higher need for efficient diagnostic solutions due to the surging burden of diseases is expected to boost the market prospects. The advent of serious infectious diseases, including COVID-19 and the Ebola epidemic has further increased the demand for research activities globally. It has been reported that the U.S. is one of the top nations for spending on R&D followed by China and Japan and spent more than USD 679 billion on domestic R&D projects in 2022.