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The key players of the market are implementing strategies such as novel product development, increase in R&D expenditure, and mergers & acquisitions in order to sustain their market position.
Strategic collaborations initiated by these players are enabling potential advancements. For instance, Abbott Laboratories has announced an agreement with Idera Pharmaceuticals, Inc. for developing companion diagnostic tests for the IMO-8400 drug, which is in clinical trials for the treatment of orphan autoimmune diseases.
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