Medical Transcription Market Size, Share, Top Companies, New Technology and Forecast 2024-2032

The latest report by IMARC Group, titled “Medical Transcription Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, 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, refers to the process of converting verbal dictations of clinical data into a text format. It focuses on producing an accurate and complete record of patient health history and treatment that benefits doctors in reviewing the health status of a patient. It assists in optimizing operational efficiency, enhancing the quality of patient care, and reducing costs. It is widely utilized by healthcare providers to diagnose and treat patients and document the detail of patients for insurance and legal purposes. As a result, MT is employed in hospitals, clinics, clinical laboratories, and academic medical centers across the globe.              

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/medical-transcription-market/requestsample

Medical Transcription Market Trends and Drivers:

At present, the rising prevalence of chronic diseases, such as diabetes, melanoma, and cardiovascular, among the masses around the world represents one of the primary factors contributing to the growth of the market. Besides this, the increasing demand for automated MT, as it saves time and increases the efficiency and effectiveness of the process, is strengthening the growth of the market. Apart from this, the rising emergence of voice recognition technology in the MT that reduces human efforts is positively influencing the market. Moreover, the increasing awareness about the benefits of electronic health records (EHR) in streamlining information is bolstering the growth of the market. Furthermore, key manufacturers are introducing artificial intelligence (AI) and natural language understanding (NLU) technologies to provide real-time clinical data to clinicians, clinical documentation improvement (CDI) specialists, and coding teams.     

Report Segmentation:

The report has segmented the market into the following categories:

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

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • 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

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

IMARC Group

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Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

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