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healthcaremarketanalysis · 1 month

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Global Biobanking Market Worth $5.0 billion by 2028

The global biobanking market, valued at $2.9 billion in 2023, is projected to reach $5.0 billion by 2028, growing at a CAGR of 11.4%. The market's growth is driven by increasing investments and funding for biobanks, a focus on genetic testing and precision medicine, the preservation of cord blood stem cells, and favorable funding for regenerative medicine research. Challenges include the high cost of automated equipment and biospecimen sample management issues. Emerging markets such as China, India, and South Korea offer significant growth opportunities due to lower manufacturing costs and skilled resources. Key players in the market include Thermo Fisher Scientific, PHC Holdings Corporation, Becton, Dickinson and Company, QIAGEN, and Merck KGaA. The equipment segment held the largest market share in 2022, with the Asia Pacific region expected to register the highest CAGR during the forecast period.

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Biobanking Market Dynamics

DRIVER: Growing investments and funding for biobanks

Biobanks have gained significant recognition from governments, research organizations, and funding agencies worldwide, resulting in a rise in investments in biobanks. For example, the Biorepository and Precision Medicine Initiative (PMI) Cohort Program, funded by the US National Institutes of Health (NIH), aims to collect biological samples from one million or more individuals to create a national research resource. Similarly, the European Commission has invested in the Biobanking and Biomolecular Resources Research Infrastructure (BBMRI), a pan-European infrastructure for biobanking and biomolecular resources.

RESTRAINT: High cost of automated equipment

The high cost of automated equipment is expected to restrain the growth of the market. Automated equipment, such as advanced sample handling systems, can significantly improve the efficiency and quality of biobanking operations. However, the high cost of this equipment can be a significant barrier to the entry of smaller biobanking companies or those with limited financial resources. For instance, the cost of an automated storage system can vary depending on the size and complexity of the system. The initial investment in an automated storage system can be significant, with costs ranging from tens of thousands to hundreds of thousands of dollars. In addition to the initial investment, there are ongoing maintenance and operational costs that must be considered, such as software updates, repairs, and training.

OPPORTUNITY: Emerging countries to provide lucrative opportunities

Developing countries are expected to offer significant growth opportunities for players operating in the global market due to the low-cost manufacturing advantage offered by these countries, coupled with the availability of skilled resources at lower costs. Moreover, as compared to developed markets, such as the US, Germany, and Japan, the demand for medical products in emerging Asian markets, such as China and India, is growing at a robust rate. This has prompted medical product companies to focus on these countries for future growth.

CHALLENGE: High operational cost of biobanks

Due to the increasing utilization of biospecimens for research and the emergence of new technologies, there is a growing focus on the availability and quality of biospecimens and their effective collection. However, the long-term economic situation of biobanks is still mostly unclear, which raises questions regarding their overall sustainability. Several costs add up in the complete functioning of a biobank, including in-case collection, tissue processing, storage management, sample distribution, and infrastructure and administration costs. Additionally, high investments are required to set up the required infrastructure in biobanks. For instance, the cost of installing laboratory facility infrastructure, liquid nitrogen supplies, mechanical freezers, and software systems add to the overall operating costs. Since biobanks have to store samples over a period of time, there is a significant need to optimize operations and costs for their long-term sustainability

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The equipment segment dominated biobanking market by product & service:

The equipment segment held the largest share of the global market in 2022. This is primarily attributed to the increasing number of biobanks and biosamples, due to which the demand for equipment remains high. The biobanking equipment segment encompasses a range of specialized products essential for the processing, analysis, storage, and transport of biological samples. These specimens may include human tissues, cells, blood, DNA, and other biospecimens collected from patients, donors, or research participants. The segment covers a broad spectrum of solutions and technologies catering to the diverse needs of biobanks, research institutes, and medical facilities.

The North America region catered the largest share of the biobanking market in 2022.

The biobanking market in North America has experienced significant growth in recent years, showcasing a robust expansion trajectory. This can be attributed to the increasing number of biobanks and the growing investments in biobanking infrastructure. Major healthcare institutes and research organizations in North America have made substantial commitments to expanding their biobanking capabilities. Additionally, the rising prevalence of chronic diseases and the subsequent demand for personalized medicine has fueled the growth of the biobanking market in North America, with biobanks playing a pivotal role in storing and providing high-quality biological specimens for research and development purposes.

Key players in the biobanking market include Thermo Fisher Scientific, Inc. (US), PHC Holdings Corporation (Japan), Becton, Dickinson and Company (US), QIAGEN N.V. (Germany), Merck KGaA (Germany), Avantor, Inc. (US), Cryoport, Inc. (US), Tecan Trading AG (Switzerland), Azenta, Inc. (US), Greiner Holding AG (Austria), Hamilton Company (US), Micronic (Netherlands), AMSBIO (UK), Bay Biosciences LLC (US), BioKryo (Germany), SPT Labtech (UK), ASKION GmbH (Germany), Cell&Co BioServices (France), Ziath Ltd. (UK), CTIBiotech (France), Cureline (US), Firalis Group (France), Sopachem (Netherlands), ProteoGenex (US), and US Biolab Corporation, Inc. (US).

Recent Developments

In February 2023, PHC Corporation of North America launched the PHCbi Brand VIP ECO SMART Ultra-low Temperature Freezer with industry-leading energy efficiency.

In September 2022, Cryoport entered into a strategic partnership with BioLife Plasma Services to offer supply chain solutions and service offerings, such as bioservices and cryo-processing, for BioLife Plasma Services.

Biobanking market - Report Highlights:

The market size is updated for the base year 2022 and forecasted from 2023 to 2028 by studying the impact of the recession on the overall biobanking industry.

The new edition includes the impact of the recession on the biobanking market (especially the region-wise impact in the geographic analysis section) in 2022. There is a variation in the growth rate of the market due to the ongoing recession.

Additional points such as ranges/scenarios, trends/disruptions impacting customers' businesses, pricing analysis, value chain analysis, supply chain analysis, ecosystem analysis, patent analysis, key conferences and events (2022-2023), list of key regulatory bodies, regulatory landscape, Porter's Five Forces analysis, key stakeholders, the influence of stakeholders on buying decisions, and buying criteria among end users have been added in the market overview chapter.

The new edition of the report provides updated financial information till 2022 (depending on availability) for each listed company in a graphical representation. This will help in the easy analysis of the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, and business segment focus in terms of the highest revenue-generating segment.

Recent developments help us to understand market trends and the growth strategies adopted by players in the market.

Tracking the portfolios of prominent market players helps analyze the major products in the biobanking market. The new edition of the report provides an updated product portfolio of the companies profiled in the report.

Key market strategies/right to win, market share analysis for 2022, revenue share analysis of key market players from 2020 to 2022, and competitive leadership mapping have been added in the competitive landscape section of the report.

The new version of the report includes competitive leadership mapping for companies operating in the market. This new section is an output of a comprehensive study of the key vendors offering biobanking products. The top 25 vendors were shortlisted from a list of 50+ vendors, and these were evaluated based on market share/ranking and product footprint, rated and positioned on a 2x2 quadrant, referred to as Company Evaluation Quadrant, categorizing them as Stars, Emerging Leaders, Pervasive Players, and Participants.

The new version of the report includes the startup/SME evaluation quadrant for 10 companies operating in the biobanking market. This updated section is an output of a comprehensive study of the key startup vendors offering biobanking products. The top 10 vendors were shortlisted from a list of 50+ vendors, and these vendors were evaluated based on their product portfolio and business strategy, rated and positioned on a 2x2 quadrant, referred to as Competitive Leadership Quadrant, categorizing them as Progressive Companies, Starting Blocks, Responsive Companies, and Dynamic Companies.

In the new edition of the report, the Rest of the World is segmented into Latin America and the Middle East and Africa. Country-level markets for Brazil and the Rest of Latin America in the Latin American region have been added.

The new version of the report includes the ownership segment, which is further segmented into national/regional agencies, non-profit organizations, universities, and private organizations.

The new version of the report includes an end-user segment, which is further segmented into pharmaceutical & biotechnology companies and CROs, academic and research institutes, and hospitals.

#Biobanking Market #Biobanking Market Size #Biobanking Market Forecast #Biobanking Market Outlook

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allmarketnews · 2 months

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Biobanking Market Future Aspect Analysis and Current Trends by 2024 to 2034

The Biobanking Market is crucial to the advancement of biomedical and translational research because it facilitates the collection and preservation of biological samples, including blood, tissues, and nucleic acids, which are then made available for use in studies aimed at identifying disease-relevant biomarkers. These biomarkers can then be utilized for diagnosis, prognosis, and drug response prediction. A key factor propelling the market is the increase in the quantity of research projects in this sector. These segment’s research efforts are supported by government funding available for stem cell therapies, regenerative medicine, and cell and gene therapy. Aside from this, the growing popularity of cord blood banking will support the expansion of this industry.

The Biobanking market is predicted to develop at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2034, when it is projected to reach USD 184.28 Billion, based on an average growth pattern. The market is estimated to reach a value of USD 81.50 Billion in 2024.

Know More About Biobanking Market, Download Sample Report: https://wemarketresearch.com/reports/request-free-sample-pdf/biobanking-market/1124

Biobanking refers to the organized collection and maintenance of biological specimens and their associated data. These banks store a variety of samples, such as human tissues, blood, DNA, and other biological materials, along with crucial information about the donors, including their medical history, lifestyle, and genetic data. This systematic storage allows researchers to access high-quality, well-documented specimens for their studies.

Key Market Players

The Biobanking Market is dominated by a few large companies, such as

Thermo Fisher Scientific Inc.

PHC Holdings Corporation

Becton, Dickinson and Company

QIAGEN N.V.

Merck KGaA

Sampled

Avantor, Inc.

Cryoport, Inc.

Tecan Trading AG

Azenta, Inc.

Greiner Holding AG

Others

Global Biobanking Market- Segmental Analysis

By Sample Type

Human Tissues

Stem Cells

Other Biological Samples

By Application

Therapeutics

Research

Clinical Trials

By Storage Type

Manual Storage Systems

Automated Storage Systems

By End User

Pharmaceutical and Biotechnology Companies

Academic Research Institutes

Hospitals and Diagnostic Laboratories

Purchase a Copy of this Biobanking Market research report at@ https://wemarketresearch.com/purchase/biobanking-market/1124?license=single

Challenges in Biobanking

Standardization: Developing standardized procedures for sample collection, processing, and storage is essential to ensure the quality and comparability of specimens across different biobanks.

Funding and Sustainability: Maintaining biobanks requires significant financial resources. Securing long-term funding and demonstrating the value of biobanks to stakeholders are ongoing challenges.

Technological Advances: Rapid advancements in technology, such as genomics and data analytics, require biobanks to continually update their infrastructure and capabilities.

Interoperability: Facilitating data sharing and collaboration between biobanks, both nationally and internationally, is crucial for maximizing the potential of biobanked samples.

The Future of Biobanking

The future of biobanking is bright, with several promising trends and developments:

Integration with Digital Health: The integration of biobanks with digital health technologies, such as electronic health records (EHRs) and wearable devices, can provide more comprehensive data and enhance research capabilities.

Global Collaboration: Increasing international collaboration and data sharing among biobanks will help address global health challenges and accelerate medical research.

Ethical Innovations: Continued advancements in ethical frameworks and governance models will help address the complex ethical issues associated with biobanking.

Personalized Medicine: Biobanks will play a critical role in the continued development of personalized medicine, providing the samples and data needed to tailor treatments to individual patients.

Biobanking Industry: Regional Analysis

North America Market Forecast

North America dominate the Biobanking Market with the highest revenue generating market with share of more than 47%. Leading biobanking companies, robust government support, and advances in personalized medicine foster growth. Extensive R&D activities and a high prevalence of chronic diseases also contribute to the market's expansion.

Europe Market Statistics

Europe’s biobanking market thrives due to its robust regulatory frameworks, strong healthcare systems, and substantial research funding. The region's collaborative research initiatives and cross-border projects enhance biobank operations and data sharing. Supportive policies and funding for innovative research drive the growth and efficiency of biobanks across Europe.

Conclusion

Biobanking is a cornerstone of modern medical research, offering invaluable resources for understanding diseases, developing new treatments, and improving public health. By addressing ethical, legal, and operational challenges, and embracing technological advancements, biobanks can continue to drive scientific discoveries and enhance healthcare outcomes worldwide.

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Email: [email protected]

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creativeera · 2 months

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The Global Cell and Tissue Preservation Market will grow at highest pace owing to increasing research in cryopreservation

The global cell and tissue preservation market covers equipment, consumables, and media used for cryopreservation and preservation of cells and tissues. Cell & tissue preservation allows long-term storage of biological samples at ultra-low temperatures for future application in research activities, clinical diagnostics, and cell & tissue-based therapies. Cell preservation equipment help in controlled freezing and thawing required for cryopreservation of samples, while consumables are one-time use containers and media are solutions required for storage of biological materials. The increasing research in application of stem cells for disease treatment and growing demand for biobanking are fueling the need for cell & tissue preservation products.

Global Cell And Tissue Preservation Market is estimated to be valued at USD 5.11 Bn in 2024 and is expected to reach USD 10.82 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.3% from 2024 to 2031.

Key Takeaways Key players operating in the global cell and tissue preservation market are Thermo Fisher Scientific, Inc., Lonza, BD, MerckKGaA, Cytiva, Agilent Technologies, Inc., Avantor, Inc., FUJIFILM Irvine Scientific, BioLifeSolutions Inc., AMSBIO, Princeton CryoTech, STEMCELL Technologies Inc., LGC SeraCare, Corning Incorporated, CellGenix GmbH. The global cell and tissue preservation market has seen rising demand due to increasing research in stem cell therapy and regenerative medicines. The number of clinical trials has increased multi-fold over the last decade. Preservation is vital for storage and transportation of biological samples used in these research studies and clinical applications. Technological advancements in cryopreservation process, equipment, and storage solutions are also fueling the Global Cell And Tissue Preservation Market Size. Automated freezing and controlled rate freezing equipment offer standardization and improve sample viability. Newer biomaterials provide better tissue preservation and enhance the capabilities of biobanks to store various sample types. Market trends: - Increased adoption of automated cell and tissue processing: Automation reduces manual errors and improves throughput and standardization in preservation workflow. - Growing preference for serum-free and animal-component free solutions: Developments are underway to address end-user demand for xeno-free formulations to avoid contamination. Market Opportunities: - Emerging economies in Asia Pacific and Latin America: Improving research infrastructure and increasing healthcare investments provide lucrative opportunities. - Umbilical cord blood and tissue banking: Expanding network of private and public banks worldwide augments demand for specialized preservation solutions. Impact of COVID-19 on Global Cell and Tissue Preservation Market Growth The outbreak of COVID-19 pandemic has significantly impacted the growth of Global Cell and Tissue Preservation Market Regional Analysis. During the initial lockdown period, hospitals and research institutes experienced supply chain disruptions as transportation restrictions were imposed globally. This led to shortage of raw materials such as preservation media for cell and tissue culture preservation. However, with increased focus on vaccine development and clinical testing, demand for preserved cell and tissue samples grew exponentially. Manufacturers responded swiftly by scaling up their production capacities and supply chains. Government funding for COVID-19 research also boosted the procurement of preservation products and equipment by biotech and pharmaceutical companies. Post lockdown, the market has witnessed growing demand from biobanks for long term preservation of COVID-19 testing samples as well as various cell lines used in vaccine development studies. The need to store clinical samples for future analysis has accelerated the adoption of automated banking equipment by government organizations. Moving forward, sustained research on virus pathogenesis and development of combination therapies will further augment the requirement for preserved biomaterials. Additionally, cell and tissue transplantation procedures deferred during peak pandemic period are being resumed, contributing to market revenues. Overall, COVID-19 has enhanced the significance of cell and tissue biobanking globally. Get more insights on Global Cell And Tissue Preservation Market

#Coherent Market Insights #Global Cell And Tissue Preservation Market #Global Cell And Tissue Preservation #Biobanking #Cryopreservation #Regenerative Medicine #Stem Cells #Organ Transplantation #Organ Donation

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health-views-updates · 2 months

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Biobanking Market Predictions: Future Insights and Analysis

Biobanking Market Outlook, Scope & Overview:

Industry reports indicate that the global biobanking market was valued at USD 76.68 billion in 2023 and is projected to reach USD 151.11 billion by 2031, growing at a CAGR of 8.85% over the forecast period 2024-2031.

Technological Advancements to Drive Growth of Global Biobanking Market

The adoption of advanced biobanking technologies will continue to influence global market revenues. Healthcare providers, research institutions, and pharmaceutical companies are increasingly utilizing biobanks to store and manage biological samples for research, diagnostics, and therapeutic purposes.

As a product segment, equipment and consumables currently hold a significant share of the global biobanking market. This segment is anticipated to grow at a year-over-year rate of 8.85% in 2024 over 2023 and reach USD 151.11 billion in revenues by 2031. The increasing demand for high-quality biological samples and the growing focus on personalized medicine are expected to drive market growth.

Biobanking Solutions – Market Dynamics

Drivers:

Biobanking solutions are witnessing significant growth in the global market due to their ability to support advanced research in genomics, proteomics, and personalized medicine. The growing prevalence of chronic diseases, the increasing need for biospecimen storage, and the rising investments in biobanking infrastructure are key factors driving the adoption of biobanking solutions worldwide. Additionally, the advancements in cryopreservation techniques and the expanding applications of biobanks in drug discovery and development are further propelling market growth.

Restraints:

Despite the growth potential, challenges such as ethical and legal issues, high costs associated with biobanking infrastructure, and concerns about sample quality and data privacy are hindering the widespread adoption of biobanking solutions. Moreover, the complexity of managing large volumes of biological data and the need for standardized protocols pose additional challenges to market expansion.

Biobanking Solutions – Market Outlook

The proven benefits of biobanking solutions in supporting biomedical research, enhancing patient care, and facilitating personalized medicine have contributed to the market's growth. Biobanking solutions are expected to witness increased adoption across major markets, including North America, Europe, and Asia Pacific, driven by advancements in biobanking technology and the growing emphasis on precision medicine.

Global Biobanking Market

The rise in demand for biobanking solutions in developed and emerging markets is expected to drive market growth over the forecast period. North America currently holds a significant market share in the global biobanking market, with the US being a key contributor to market revenues. Europe and Asia Pacific regions are also experiencing rapid adoption of biobanking solutions, supported by favorable regulatory frameworks and increasing investments in biomedical research.

Key Players in the Biobanking Solutions Market

Leading companies in the biobanking solutions market include Thermo Fisher Scientific, Qiagen N.V., Merck KGaA, and Brooks Life Sciences. These companies are at the forefront of developing and commercializing advanced biobanking technologies for various applications, including biospecimen storage, sample management, and genomic research.

In conclusion, the global biobanking market is poised for substantial growth over the forecast period, driven by technological advancements, increasing investments in biomedical research, and the expanding adoption of biobanking solutions across diverse healthcare and research settings.

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#Biobanking Market #Biobanking Market Size #Biobanking Market Share #Biobanking Market Trends #Biobanking Market Growth #Biobanking Market Analysis #Biobanking Market Outlook

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laxmandige05 · 6 months

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In the rapidly growing field of global biobanks market size was valued at USD 77.38 billion in 2023 and is projected to reach USD 163.95 billion by 2032, growing at a CAGR of 8.7% from 2023 to 2032 according to a new report by Nova One Advisor.

#Biobanks Market Size

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luckydige45 · 6 months

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#Biobanks Market Size

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aarunresearcher · 8 months

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#biobanking market #trends #industry report

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vikaschauhanwriter · 9 months

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https://www.omaada.com/blogs/93058/Biobanking-Market-Report-Trends-and-Industry-Growth-2023-2028

Biobanking Market Report, Trends and Industry Growth 2023-2028

#Biobanking Market

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sheetalblogs · 2 months

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#Biobanking Market

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healthcaremarketanalysis · 3 months

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Global Biobanking Market Worth $5.0 billion by 2028

The Global Biobanking Market in terms of revenue was estimated to be worth $2.9 billion in 2023 and is poised to reach $5.0 billion by 2028, growing at a CAGR of 11.4% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The growth of this market is majorly driven by the growing investments and funding for biobanks, focus on genetic testing and precision medicine, increasing trend in the preservation of cord blood stem cells from newborns, and favorable funding scenario for research related to regenerative medicine. On the other hand, the high cost of automated equipment and issues related to biospecimen sample management are restraining the growth of this market.

Download PDF Brochure:

Biobanking Market Dynamics

DRIVER: Growing investments and funding for biobanks

RESTRAINT: High cost of automated equipment

OPPORTUNITY: Emerging countries to provide lucrative opportunities

CHALLENGE: High operational cost of biobanks

Request 10% Customization

The equipment segment dominated biobanking market by product & service:

Asia Pacific region of the global biobanking market, is estimated to register the highest CAGR during the forecast period.

The market in the Asia Pacific region has experienced significant growth over the past few years. This growth can be attributed to several factors, such as the increasing prevalence of chronic diseases, rising investments in research and development activities, and the expanding healthcare infrastructure. For instance, countries like China, Japan, and South Korea have witnessed a surge in biobanks and research initiatives aimed at understanding the genetic basis of diseases and developing personalized medicine. These countries have made substantial investments in biobanking infrastructure, including the establishment of state-of-the-art biorepositories and the implementation of stringent quality control measures.

Recent Developments

In February 2023, PHC Corporation of North America launched the PHCbi Brand VIP ECO SMART Ultra-low Temperature Freezer with industry-leading energy efficiency.

Report Link: ( Biobanking Market )

Biobanking market - Report Highlights:

The market size is updated for the base year 2022 and forecasted from 2023 to 2028 by studying the impact of the recession on the overall biobanking industry.

Recent developments help us to understand market trends and the growth strategies adopted by players in the market.

The new version of the report includes the ownership segment, which is further segmented into national/regional agencies, non-profit organizations, universities, and private organizations.

The new version of the report includes an end-user segment, which is further segmented into pharmaceutical & biotechnology companies and CROs, academic and research institutes, and hospitals.

#Biobanking Market #Biobanking Market Size #Biobanking Market Forecast #Biobanking Market Outlook

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