Singapore MRI is a diagnostic technique that makes use of nuclear magnetic resonance of atoms within the body generated by use of radio waves to provide detailed information about structures of internal body parts, such as minor damages to ligaments, tendons, and muscles that cannot be seen with the X-ray, ultrasound, or computed tomography (CT) scan. An MRI scan is a method of obtaining images of interiors of humans and animals.
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The growth of the Singapore MRI Systems Market is driven by increase
in geriatric population in western countries and rise in incidence of diseases
such as brain tumor, breast cancer, prostate cancer, scoliosis, and sclerosis.
Moreover, technological growth such as superconducting (SC) magnets, open
architecture, high-field MRI, and software applications are other factors that
contribute toward the growth of the market. However, decline in restitution
rates for MRI procedures and scarcity of helium gas deposits are expected to
hinder the growth of the market. Conversely, the advantage of MRI in detection
of the early molecular and cellular changes in Alzheimer disease provides lucrative
opportunities in the growth of the market.
Coronavirus (COVID-19) was discovered in late December, 2019
in Hubei province of Wuhan city in China. The disease is caused by a virus,
namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is
transmitted from humans to humans. The outbreak of COVID-19 pandemic has
affected the Magnetic Resonance Imaging Systems Market, health facilities,
their supply chain, and demand for MRI devices. However, the COVID-19 pandemic
led to increase in the prices of MRI imaging, which resulted in increase in the
prices of MRI Systems. Moreover, the delayed manufacturing, shipment, and
payment of the MRI Systems players affected the Magnetic Resonance Imaging
Systems Market.
In addition, limited movement of people during the
implementation of lockdown also impacted the MRI Systems industry. Overall, the
impact of COVID-19 on the MRI Systems Market was recorded to be fairly
negative. This was attributed to disturbances in production, import &
export of raw material, and finished goods due to the shutdowns in various
COVID-19 affected countries, and large number of workers falling ill during the
pandemic and increase in the demand & supply gap. However, this situation
is expected to change post COVID-19 pandemic in the coming years.
Based on architecture type, the market is categorized into
open MRI and closed MRI Systems. Singapore closed MRI Systems segment dominated the
global market in 2020, and is anticipated to continue this trend during the
forecast period owing to the key factors such as advantages of using closed MRI
Systems over open MRI Systems, rise in demand for closed MRI Systems, surge in
prevalence of chronic diseases, advancements in the Singapore MRI Systems and the launch
of new products.
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