Medical Transcription Services Market is Expected to Reach 7670 Million US$ by the End of 2025, With a CAGR of 5.5% During 2018-2025

This report focuses on the global Medical Transcription Services status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Transcription Services development in United States, Europe and China.

Medical transcription, also known as MT, is an allied health profession dealing with the process of transcribing voice-recorded medical reports that are dictated by physicians, nurses and other healthcare practitioners. Medical reports can be voice files, notes taken during a lecture, or other spoken material. These are dictated over the phone or uploaded digitally via the Internet or through smart phone apps.

Medical transcription (MT) is an allied health profession, which deals in the process of transcription, or converting voice-recorded reports as dictated by physicians or other healthcare professionals, into text format. Medical transcription services provide the groundwork for the adoption of electronic medical records (EMR) system. Medical transcription services allow hospitals and providers to outsource a critical business process, reduce costs, and improve the quality of medical documentation, without additional capital investment. The global medical transcription services market is primarily driven by adoption of medical documentation and recording systems, government’s initiatives in health information infrastructure, implementation of EHRs, technological innovations through the use of electronic technology to reduce turnaround time, increasing focus on lowering costs and increasing productivity and improving the quality of patient care while ensuring patient’s safety.

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North America is the largest consumption place, with a consumption market share nearly 78.3% in 2017. North America currently dominates and is expected to retain its position in the medical transcription services market in the future. Growth drivers for this market in North America are factors such as rise in aging population and passing of Patient Protection and Affordable Healthcare Act, 2013.

In 2017, the global Medical Transcription Services market size was 5000 million US$ and it is expected to reach 7670 million US$ by the end of 2025, with a CAGR of 5.5% during 2018-2025.

The key players covered in this study

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

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Market segment by Type, the product can be split into

Outsourcing

Offshoring

Market segment by Application, split into

Hospitals

Clinical Laboratories

Academic Medical Centers

Other

Market segment by Regions/Countries, this report covers

United States

Europe

China

Japan

Southeast Asia

India

Central & South America

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The study objectives of this report are:

To analyze global Medical Transcription Services status, future forecast, growth opportunity, key market and key players.

To present the Medical Transcription Services development in United States, Europe and China.

To strategically profile the key players and comprehensively analyze their development plan and strategies.

To define, describe and forecast the market by product type, market and key regions.

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