[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

Medical Transcription Market Report by Service Type (History and Physical Report, Discharge Summary, Operative Note or Report, Consultation Report, and Others), Technology (Electronic Medical Records/Electronic Health Record (EMR/EHR), Picture Archiving and Communication System (PACS), Radiology Information System (RIS), Speech Recognition Technology (SRT), and Others), Mode of Procurement (Outsourcing, Offshoring, Both), End User (Hospitals, Clinics, Clinical Laboratories, Academic Medical Centers, and Others), and Region 2024-2032

January 2024 | 140 pages | ID: M942301B99A9EN
IMARC Group

US$ 3,899.00

E-mail Delivery (PDF), Hard Copy Mail Delivery, CD-ROM Mail Delivery

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
The global medical transcription market size reached US$ 75.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 123.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032.

Medical transcription (MT), also known as healthcare documentation, is the process of converting verbal dictations of clinical data into pre-defined text or digital format. With the advancement in technology, hospitals, healthcare centers, clinics and physicians are opting for MT to optimize operational efficiency, improve quality of patient care and minimize capital expenditure. It also helps the healthcare providers to maintain patient care and treatment records detailing medical examination findings, treatment plans and relevant information. Besides this, it aids in reducing staff burden by eliminating the need to file patient forms, discharge summaries, and operation and progress notes. MT creates an organized and appropriate patient history, which enables the doctors in analyzing the current physical condition and prepare an ideal treatment plan for the patient.

There has been a rise in the prevalence of various chronic diseases, such as cancer, diabetes and cardiovascular diseases, which has consequently led to an increase in the number of medical records generated in hospitals. Along with this, the growing awareness among enterprises about the benefits of electronic health records (EHR) in streamlining information is having a positive impact on the MT market across the globe. Besides this, manufacturers have started leveraging latest technologies, such as ADT normalization, instantaneous document formatting and voice recognition that can automate the conversion of voice-based records into text-based electronic files. These technologies aid in reducing the time required for transcription as well as enhance the overall accuracy. Moreover, with the increasing risk of manipulation or theft of medical data or information, the leading companies have introduced high-end encryption technologies, data security mechanisms, and end-to-end secure processes for the exchange of information.

IMARC Group’s latest report provides a deep insight into the global medical transcription market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the medical transcription market in any manner.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global medical transcription market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on service type, technology, mode of procurement and end user.

Breakup by Service Type:

History and Physical Report
Discharge Summary
Operative Note or Report
Consultation Report
Others (Pathology Report, Radiology Report, etc.)

Breakup by Technology:

Electronic Medical Records/Electronic Health Record (EMR/EHR)
Picture Archiving and Communication System (PACS)
Radiology Information System (RIS)
Speech Recognition Technology (SRT)
Others

Breakup by Mode of Procurement:

Outsourcing
Offshoring
Both

Breakup by End User:

Hospitals
Clinics
Clinical Laboratories
Academic Medical Centers
Others

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Acusis LLC, Transcend Services, Nuance Communications, Inc., MModal IP LLC, iMedX Information Services Private Limited, Global Medical Transcription LLC, nThrive Revenue Systems LLC, MTBC, Inc., MediScript Plus LLC, TransTech Medical Solutions LLC, etc.

Key Questions Answered in This Report

1. What was the size of the global medical transcription market in 2023?
2. What is the expected growth rate of the global medical transcription market during 2024-2032?
3. What are the key factors driving the global medical transcription market?
4. What has been the impact of COVID-19 on the global medical transcription market?
5. What is the breakup of the global medical transcription market based on the end user?
6. What are the key regions in the global medical transcription market?
7. Who are the key players/companies in the global medical transcription market?
1 PREFACE


2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY


4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL MEDICAL TRANSCRIPTION MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Service Type
5.5 Market Breakup by Technology
5.6 Market Breakup by Mode of Procurement
5.7 Market Breakup by End User
5.8 Market Breakup by Region
5.9 Market Forecast

6 MARKET BREAKUP BY SERVICE TYPE

6.1 History and Physical Report
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Discharge Summary
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Operative Note or Report
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Consultation Report
  6.4.1 Market Trends
  6.4.2 Market Forecast
6.5 Others
  6.5.1 Market Trends
  6.5.2 Market Forecast

7 MARKET BREAKUP BY TECHNOLOGY

7.1 Electronic Medical Records/Electronic Health Record (EMR/EHR)
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Picture Archiving and Communication System (PACS)
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Radiology Information System (RIS)
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Speech Recognition Technology (SRT)
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Others
  7.5.1 Market Trends
  7.5.2 Market Forecast

8 MARKET BREAKUP BY MODE OF PROCUREMENT

8.1 Outsourcing
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Offshoring
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Both
  8.3.1 Market Trends
  8.3.2 Market Forecast

9 MARKET BREAKUP BY END USER

9.1 Hospitals
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Clinics
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Clinical Laboratories
  9.3.1 Market Trends
  9.3.2 Market Forecast
9.4 Academic Medical Centers
  9.4.1 Market Trends
  9.4.2 Market Forecast
9.5 Others
  9.5.1 Market Trends
  9.5.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 Market Trends
  10.1.2 Market Forecast
10.2 Europe
  10.2.1 Market Trends
  10.2.2 Market Forecast
10.3 Asia Pacific
  10.3.1 Market Trends
  10.3.2 Market Forecast
10.4 Middle East and Africa
  10.4.1 Market Trends
  10.4.2 Market Forecast
10.5 Latin America
  10.5.1 Market Trends
  10.5.2 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS


13 PORTER’S FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE ANALYSIS


15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 Acusis LLC
  15.3.2 Transcend Services
  15.3.3 Nuance Communications, Inc.
  15.3.4 MModal IP LLC
  15.3.5 iMedX Information Services Private Limited
  15.3.6 Global Medical Transcription LLC
  15.3.7 nThrive Revenue Systems LLC
  15.3.8 MTBC, Inc.
  15.3.9 MediScript Plus LLC
  15.3.10 TransTech Medical Solutions LLC

LIST OF TABLES

Table 1: Global: Medical Transcription Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Medical Transcription Market Forecast: Breakup by Service Type (in Million US$), 2024-2032
Table 3: Global: Medical Transcription Market Forecast: Breakup by Technology (in Million US$), 2024-2032
Table 4: Global: Medical Transcription Market Forecast: Breakup by Mode of Procurement (in Million US$), 2024-2032
Table 5: Global: Medical Transcription Market Forecast: Breakup by End User (in Million US$), 2024-2032
Table 6: Global: Medical Transcription Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Medical Transcription Market Structure
Table 8: Global: Medical Transcription Market: Key Players

LIST OF FIGURES

Figure 1: Global: Medical Transcription Market: Major Drivers and Challenges
Figure 2: Global: Medical Transcription Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Medical Transcription Market: Breakup by Service Type (in %), 2023
Figure 4: Global: Medical Transcription Market: Breakup by Technology (in %), 2023
Figure 5: Global: Medical Transcription Market: Breakup by Mode of Procurement (in %), 2023
Figure 6: Global: Medical Transcription Market: Breakup by End User (in %), 2023
Figure 7: Global: Medical Transcription Market: Breakup by Region (in %), 2023
Figure 8: Global: Medical Transcription Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 9: Global: Medical Transcription Industry: SWOT Analysis
Figure 10: Global: Medical Transcription Industry: Value Chain Analysis
Figure 11: Global: Medical Transcription Industry: Porter’s Five Forces Analysis
Figure 12: Global: Medical Transcription (History and Physical Report) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Medical Transcription (History and Physical Report) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Medical Transcription (Discharge Summary) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Medical Transcription (Discharge Summary) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Medical Transcription (Operative Note or Report) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Medical Transcription (Operative Note or Report) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Medical Transcription (Consultation Report) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Medical Transcription (Consultation Report) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Medical Transcription (Other Service Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Medical Transcription (Other Service Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Medical Transcription (Electronic Medical Records/Electronic Health Record) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Medical Transcription (Electronic Medical Records/Electronic Health Record) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Medical Transcription (Picture Archiving and Communication System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Medical Transcription (Picture Archiving and Communication System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Medical Transcription (Radiology Information System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Medical Transcription (Radiology Information System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Medical Transcription (Speech Recognition Technology) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Medical Transcription (Speech Recognition Technology) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Medical Transcription (Other Technologies) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Medical Transcription (Other Technologies) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: Medical Transcription (Outsourcing) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Medical Transcription (Outsourcing) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Global: Medical Transcription (Offshoring) Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: Medical Transcription (Offshoring) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Global: Medical Transcription (Both) Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Global: Medical Transcription (Both) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Global: Medical Transcription (Hospitals) Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Global: Medical Transcription (Hospitals) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Global: Medical Transcription (Clinics) Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Global: Medical Transcription (Clinics) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Global: Medical Transcription (Clinical Laboratories) Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Global: Medical Transcription (Clinical Laboratories) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Global: Medical Transcription (Academic Medical Centers) Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Global: Medical Transcription (Academic Medical Centers) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Global: Medical Transcription (Other End Users) Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Global: Medical Transcription (Other End Users) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: North America: Medical Transcription Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: North America: Medical Transcription Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Europe: Medical Transcription Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Europe: Medical Transcription Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Asia Pacific: Medical Transcription Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Asia Pacific: Medical Transcription Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Middle East and Africa: Medical Transcription Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Middle East and Africa: Medical Transcription Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Latin America: Medical Transcription Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Latin America: Medical Transcription Market Forecast: Sales Value (in Million US$), 2024-2032


More Publications