Medical Transcription Services Market

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.
Medical Transcription Services Market contains market size and forecasts of Medical Transcription Services in Global, including the following market information:
Global Medical Transcription Services Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Medical Transcription Services market was valued at 6408.7 million in 2021 and is projected to reach US$ 8609 million by 2028, at a CAGR of 4.3% during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Outsourcing Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Medical Transcription Services include Mmodal, Nuance Communications, Transcend Services, Acusis, iMedX Information Services, MTBC, nThrive, Medi-Script Plus and Outsource2india, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Medical Transcription Services companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Medical Transcription Services Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Medical Transcription Services Market Segment Percentages, by Type, 2021 (%)
Outsourcing
Offshoring
Global Medical Transcription Services Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Medical Transcription Services Market Segment Percentages, by Application, 2021 (%)
Hospitals
Clinical Laboratories
Academic Medical Centers
Others
Global Medical Transcription Services Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Medical Transcription Services Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Medical Transcription Services revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Medical Transcription Services revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
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