Global Medical Transcription Services Market Size, Status and Forecast 2019-2025
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.
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 2018, 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 2019-2025.
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.
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
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
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.
In this study, the years considered to estimate the market size of Medical Transcription Services are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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.
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 2018, 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 2019-2025.
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.
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
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
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.
In this study, the years considered to estimate the market size of Medical Transcription Services are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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