Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Medical Transcription Services Market by Type (Outsourcing, Offshoring), By Application (Hospitals, Clinical Laboratories, Academic Medical Centers, Other, ) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Medical Transcription Services Market by Type (Outsourcing, Offshoring), By Application (Hospitals, Clinical Laboratories, Academic Medical Centers, Other, ) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 173040 3300 IT & Telecom 377 237 Pages 4.9 (46)
                                          

Global Medical Transcription Services Market is expected to grow at a CAGR of 5.5% during the forecast period, to reach USD 3.2 billion by 2030. The market is driven by factors such as increasing demand for medical transcription services from hospitals and clinical laboratories, rising number of patients with chronic diseases, and growing need for accurate documentation in healthcare settings. The global medical transcription services market can be segmented on the basis of type into outsourcing and offshoring; on the basis of application into hospitals, clinical laboratories, academic medical centers; and on the basis of region into North America, Latin America, Europe, Asia Pacific and Middle East & Africa. 5a) There is an increasing need for medical transcriptionists to transcribe audio recordings from various sources, such as phone calls, video conferences, and dictation software programs that allow doctors to dictate patient notes into a computer instead of writing them by hand or typing them up on a keyboard; this has led to an increase in demand for these professionals over time. 5b) Medical transcriptionists can be found working at hospitals, clinics, physician offices, insurance companies and other healthcare organizations.

Some Of The Growth Factors Of This Market:

  1. The aging population is increasing the demand for medical transcription services.
  2. The increase in chronic diseases and the need for more accurate diagnosis are driving growth in this market.
  3. Medical transcription services are becoming increasingly important as a result of the increased use of electronic health records (EHRs).
  4. The growing number of physicians who work remotely is also driving growth in this market, as they rely on medical transcription services to provide them with accurate documentation of their patients' care and treatment plans while they are away from their offices or hospitals.

Industry Growth Insights published a new data on “Medical Transcription Services Market”. The research report is titled “Medical Transcription Services Market research by Types (Outsourcing, Offshoring), By Applications (Hospitals, Clinical Laboratories, Academic Medical Centers, Other, ), By Players/Companies Mmodal, Nuance Communications, Transcend Services, Acusis, iMedX Information Services, MTBC, nThrive, Medi-Script Plus, Outsource2india, TransPerfect, VIVA Transcription, Medscribe, Pacific Solutions, Same Day transcriptions, DoctorDocs, World Wide Dictation, Athreon, BVS Transtech, Excel Transcriptions, GMT, LC Transcription Services, ”.

Scope Of The Report

Report Attributes

Report Details

Report Title

Medical Transcription Services Market Research Report

By Type

Outsourcing, Offshoring

By Application

Hospitals, Clinical Laboratories, Academic Medical Centers, Other,

By Companies

Mmodal, Nuance Communications, Transcend Services, Acusis, iMedX Information Services, MTBC, nThrive, Medi-Script Plus, Outsource2india, TransPerfect, VIVA Transcription, Medscribe, Pacific Solutions, Same Day transcriptions, DoctorDocs, World Wide Dictation, Athreon, BVS Transtech, Excel Transcriptions, GMT, LC Transcription Services,

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year

2021

Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year

2030

Number of Pages

237

Number of Tables & Figures

166

Customization Available

Yes, the report can be customized as per your need.


Global Medical Transcription Services Industry Outlook


Global Medical Transcription Services Market Report Segments:

The global Medical Transcription Services market is segmented on the basis of:

Types

Outsourcing, Offshoring

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.

Applications

Hospitals, Clinical Laboratories, Academic Medical Centers, Other,

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Mmodal
  2. Nuance Communications
  3. Transcend Services
  4. Acusis
  5. iMedX Information Services
  6. MTBC
  7. nThrive
  8. Medi-Script Plus
  9. Outsource2india
  10. TransPerfect
  11. VIVA Transcription
  12. Medscribe
  13. Pacific Solutions
  14. Same Day transcriptions
  15. DoctorDocs
  16. World Wide Dictation
  17. Athreon
  18. BVS Transtech
  19. Excel Transcriptions
  20. GMT
  21. LC Transcription Services

Global Medical Transcription Services Market Overview


Highlights of The Medical Transcription Services Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Outsourcing
    2. Offshoring
  1. By Application:

    1. Hospitals
    2. Clinical Laboratories
    3. Academic Medical Centers
    4. Other
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Medical Transcription Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Medical Transcription Services Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


Medical transcription services are a type of transcription service that provides professional transcriptions of medical records. Transcription services can be used to provide transcripts for use in legal proceedings, as well as for other purposes such as insurance claims or medical research.

Some of the key players operating in the medical transcription services market are Mmodal, Nuance Communications, Transcend Services, Acusis, iMedX Information Services, MTBC, nThrive, Medi-Script Plus, Outsource2india, TransPerfect, VIVA Transcription, Medscribe, Pacific Solutions, Same Day transcriptions, DoctorDocs, World Wide Dictation, Athreon, BVS Transtech, Excel Transcriptions, GMT, LC Transcription Services.

The medical transcription services market is expected to grow at a compound annual growth rate of 5.5%.

                                            
1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Medical Transcription Services Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Medical Transcription Services Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Medical Transcription Services Market - Supply Chain
   4.5. Global Medical Transcription Services Market Forecast
      4.5.1. Medical Transcription Services Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Medical Transcription Services Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Medical Transcription Services Market Absolute $ Opportunity

5. Global Medical Transcription Services Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Medical Transcription Services Market Size and Volume Forecast by Type
      5.3.1. Outsourcing
      5.3.2. Offshoring
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Medical Transcription Services Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Medical Transcription Services Market Size and Volume Forecast by Application
      6.3.1. Hospitals
      6.3.2. Clinical Laboratories
      6.3.3. Academic Medical Centers
      6.3.4. Other
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Medical Transcription Services Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Medical Transcription Services Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Medical Transcription Services Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Medical Transcription Services Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Medical Transcription Services Demand Share Forecast, 2019-2026

9. North America Medical Transcription Services Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Medical Transcription Services Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Medical Transcription Services Market Size and Volume Forecast by Application
      9.4.1. Hospitals
      9.4.2. Clinical Laboratories
      9.4.3. Academic Medical Centers
      9.4.4. Other
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Medical Transcription Services Market Size and Volume Forecast by Type
      9.7.1. Outsourcing
      9.7.2. Offshoring
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Medical Transcription Services Demand Share Forecast, 2019-2026

10. Latin America Medical Transcription Services Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Medical Transcription Services Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Medical Transcription Services Market Size and Volume Forecast by Application
      10.4.1. Hospitals
      10.4.2. Clinical Laboratories
      10.4.3. Academic Medical Centers
      10.4.4. Other
    10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Medical Transcription Services Market Size and Volume Forecast by Type
      10.7.1. Outsourcing
      10.7.2. Offshoring
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Medical Transcription Services Demand Share Forecast, 2019-2026

11. Europe Medical Transcription Services Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Medical Transcription Services Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Medical Transcription Services Market Size and Volume Forecast by Application
      11.4.1. Hospitals
      11.4.2. Clinical Laboratories
      11.4.3. Academic Medical Centers
      11.4.4. Other
    11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Medical Transcription Services Market Size and Volume Forecast by Type
      11.7.1. Outsourcing
      11.7.2. Offshoring
   11.8. Basis Pont Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Medical Transcription Services Demand Share, 2019-2026

12. Asia Pacific Medical Transcription Services Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Medical Transcription Services Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Medical Transcription Services Market Size and Volume Forecast by Application
      12.4.1. Hospitals
      12.4.2. Clinical Laboratories
      12.4.3. Academic Medical Centers
      12.4.4. Other
    12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Medical Transcription Services Market Size and Volume Forecast by Type
      12.7.1. Outsourcing
      12.7.2. Offshoring
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Medical Transcription Services Demand Share, 2019-2026

13. Middle East & Africa Medical Transcription Services Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Medical Transcription Services Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Medical Transcription Services Market Size and Volume Forecast by Application
      13.4.1. Hospitals
      13.4.2. Clinical Laboratories
      13.4.3. Academic Medical Centers
      13.4.4. Other
    13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Medical Transcription Services Market Size and Volume Forecast by Type
      13.7.1. Outsourcing
      13.7.2. Offshoring
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Medical Transcription Services Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Medical Transcription Services Market: Market Share Analysis
   14.2. Medical Transcription Services Distributors and Customers
   14.3. Medical Transcription Services Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Mmodal
         14.4.1.1. Overview
         14.4.1.2. Financials
         14.4.1.3. Developments
         14.4.1.4. Strategic Outlook
      14.4.2. Nuance Communications
         14.4.2.1. Overview
         14.4.2.2. Financials
         14.4.2.3. Developments
         14.4.2.4. Strategic Outlook
      14.4.3. Transcend Services
         14.4.3.1. Overview
         14.4.3.2. Financials
         14.4.3.3. Developments
         14.4.3.4. Strategic Outlook
      14.4.4. Acusis
         14.4.4.1. Overview
         14.4.4.2. Financials
         14.4.4.3. Developments
         14.4.4.4. Strategic Outlook
      14.4.5. iMedX Information Services
         14.4.5.1. Overview
         14.4.5.2. Financials
         14.4.5.3. Developments
         14.4.5.4. Strategic Outlook
      14.4.6. MTBC
         14.4.6.1. Overview
         14.4.6.2. Financials
         14.4.6.3. Developments
         14.4.6.4. Strategic Outlook
      14.4.7. nThrive
         14.4.7.1. Overview
         14.4.7.2. Financials
         14.4.7.3. Developments
         14.4.7.4. Strategic Outlook
      14.4.8. Medi-Script Plus
         14.4.8.1. Overview
         14.4.8.2. Financials
         14.4.8.3. Developments
         14.4.8.4. Strategic Outlook
      14.4.9. Outsource2india
         14.4.9.1. Overview
         14.4.9.2. Financials
         14.4.9.3. Developments
         14.4.9.4. Strategic Outlook
      14.4.10. TransPerfect
         14.4.10.1. Overview
         14.4.10.2. Financials
         14.4.10.3. Developments
         14.4.10.4. Strategic Outlook
      14.4.11. VIVA Transcription
         14.4.11.1. Overview
         14.4.11.2. Financials
         14.4.11.3. Developments
         14.4.11.4. Strategic Outlook
      14.4.12. Medscribe
         14.4.12.1. Overview
         14.4.12.2. Financials
         14.4.12.3. Developments
         14.4.12.4. Strategic Outlook
      14.4.13. Pacific Solutions
         14.4.13.1. Overview
         14.4.13.2. Financials
         14.4.13.3. Developments
         14.4.13.4. Strategic Outlook
      14.4.14. Same Day transcriptions
         14.4.14.1. Overview
         14.4.14.2. Financials
         14.4.14.3. Developments
         14.4.14.4. Strategic Outlook
      14.4.15. DoctorDocs
         14.4.15.1. Overview
         14.4.15.2. Financials
         14.4.15.3. Developments
         14.4.15.4. Strategic Outlook
      14.4.16. World Wide Dictation
         14.4.16.1. Overview
         14.4.16.2. Financials
         14.4.16.3. Developments
         14.4.16.4. Strategic Outlook
      14.4.17. Athreon
         14.4.17.1. Overview
         14.4.17.2. Financials
         14.4.17.3. Developments
         14.4.17.4. Strategic Outlook
      14.4.18. BVS Transtech
         14.4.18.1. Overview
         14.4.18.2. Financials
         14.4.18.3. Developments
         14.4.18.4. Strategic Outlook
      14.4.19. Excel Transcriptions
         14.4.19.1. Overview
         14.4.19.2. Financials
         14.4.19.3. Developments
         14.4.19.4. Strategic Outlook
      14.4.20. GMT
         14.4.20.1. Overview
         14.4.20.2. Financials
         14.4.20.3. Developments
         14.4.20.4. Strategic Outlook

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