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:
- The aging population is increasing the demand for medical transcription services.
- The increase in chronic diseases and the need for more accurate diagnosis are driving growth in this market.
- Medical transcription services are becoming increasingly important as a result of the increased use of electronic health records (EHRs).
- 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 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:
- 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
Highlights of The Medical Transcription Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Outsourcing
- Offshoring
- By Application:
- Hospitals
- Clinical Laboratories
- Academic Medical Centers
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- 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.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- 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