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Global Medical Transcription Services Market Research Report 2024

Global Medical Transcription Services Market Research Report 2024

Publishing Date : Feb, 2024

License Type :
 

Report Code : 1705188

No of Pages : 100

Synopsis
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.
The global Medical Transcription Services market was valued at US$ 6228.4 million in 2023 and is anticipated to reach US$ 8507 million by 2030, witnessing a CAGR of 4.5% during the forecast period 2024-2030.
Any healthcare institute in order to acquire medical transcription service can either outsource the job to a domestic medical transcription service organization, offshore or opt for both methods. Outsourcing is the most preferred mode of service procurement in medical transcription with the market share of 71%.
Medical Transcription Services can be applied in Hospitals, Clinical Laboratories, Academic Medical Centers and Other. The most of Medical Transcription Services is used in Hospital, and the market share of that is about 55%.
North America is the largest consumption place, with a consumption market share nearly 78%.
Mmodal and Nuance Communications are the top 2 players of Medical Transcription Services, with about 16% market shares.
This report aims to provide a comprehensive presentation of the global market for Medical Transcription Services, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Medical Transcription Services.
Report Scope
The Medical Transcription Services market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Medical Transcription Services market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Medical Transcription Services companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
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
Segment by Type
Outsourcing
Offshoring
Segment by Application
Hospitals
Clinical Laboratories
Academic Medical Centers
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Medical Transcription Services companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Medical Transcription Services Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Outsourcing
1.2.3 Offshoring
1.3 Market by Application
1.3.1 Global Medical Transcription Services Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Hospitals
1.3.3 Clinical Laboratories
1.3.4 Academic Medical Centers
1.3.5 Others
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Medical Transcription Services Market Perspective (2019-2030)
2.2 Medical Transcription Services Growth Trends by Region
2.2.1 Global Medical Transcription Services Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 Medical Transcription Services Historic Market Size by Region (2019-2024)
2.2.3 Medical Transcription Services Forecasted Market Size by Region (2025-2030)
2.3 Medical Transcription Services Market Dynamics
2.3.1 Medical Transcription Services Industry Trends
2.3.2 Medical Transcription Services Market Drivers
2.3.3 Medical Transcription Services Market Challenges
2.3.4 Medical Transcription Services Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Medical Transcription Services Players by Revenue
3.1.1 Global Top Medical Transcription Services Players by Revenue (2019-2024)
3.1.2 Global Medical Transcription Services Revenue Market Share by Players (2019-2024)
3.2 Global Medical Transcription Services Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Medical Transcription Services Revenue
3.4 Global Medical Transcription Services Market Concentration Ratio
3.4.1 Global Medical Transcription Services Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Medical Transcription Services Revenue in 2023
3.5 Medical Transcription Services Key Players Head office and Area Served
3.6 Key Players Medical Transcription Services Product Solution and Service
3.7 Date of Enter into Medical Transcription Services Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Medical Transcription Services Breakdown Data by Type
4.1 Global Medical Transcription Services Historic Market Size by Type (2019-2024)
4.2 Global Medical Transcription Services Forecasted Market Size by Type (2025-2030)
5 Medical Transcription Services Breakdown Data by Application
5.1 Global Medical Transcription Services Historic Market Size by Application (2019-2024)
5.2 Global Medical Transcription Services Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America Medical Transcription Services Market Size (2019-2030)
6.2 North America Medical Transcription Services Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America Medical Transcription Services Market Size by Country (2019-2024)
6.4 North America Medical Transcription Services Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Medical Transcription Services Market Size (2019-2030)
7.2 Europe Medical Transcription Services Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe Medical Transcription Services Market Size by Country (2019-2024)
7.4 Europe Medical Transcription Services Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Medical Transcription Services Market Size (2019-2030)
8.2 Asia-Pacific Medical Transcription Services Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific Medical Transcription Services Market Size by Region (2019-2024)
8.4 Asia-Pacific Medical Transcription Services Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Medical Transcription Services Market Size (2019-2030)
9.2 Latin America Medical Transcription Services Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America Medical Transcription Services Market Size by Country (2019-2024)
9.4 Latin America Medical Transcription Services Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Medical Transcription Services Market Size (2019-2030)
10.2 Middle East & Africa Medical Transcription Services Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa Medical Transcription Services Market Size by Country (2019-2024)
10.4 Middle East & Africa Medical Transcription Services Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Mmodal
11.1.1 Mmodal Company Detail
11.1.2 Mmodal Business Overview
11.1.3 Mmodal Medical Transcription Services Introduction
11.1.4 Mmodal Revenue in Medical Transcription Services Business (2019-2024)
11.1.5 Mmodal Recent Development
11.2 Nuance Communications
11.2.1 Nuance Communications Company Detail
11.2.2 Nuance Communications Business Overview
11.2.3 Nuance Communications Medical Transcription Services Introduction
11.2.4 Nuance Communications Revenue in Medical Transcription Services Business (2019-2024)
11.2.5 Nuance Communications Recent Development
11.3 Transcend Services
11.3.1 Transcend Services Company Detail
11.3.2 Transcend Services Business Overview
11.3.3 Transcend Services Medical Transcription Services Introduction
11.3.4 Transcend Services Revenue in Medical Transcription Services Business (2019-2024)
11.3.5 Transcend Services Recent Development
11.4 Acusis
11.4.1 Acusis Company Detail
11.4.2 Acusis Business Overview
11.4.3 Acusis Medical Transcription Services Introduction
11.4.4 Acusis Revenue in Medical Transcription Services Business (2019-2024)
11.4.5 Acusis Recent Development
11.5 iMedX Information Services
11.5.1 iMedX Information Services Company Detail
11.5.2 iMedX Information Services Business Overview
11.5.3 iMedX Information Services Medical Transcription Services Introduction
11.5.4 iMedX Information Services Revenue in Medical Transcription Services Business (2019-2024)
11.5.5 iMedX Information Services Recent Development
11.6 MTBC
11.6.1 MTBC Company Detail
11.6.2 MTBC Business Overview
11.6.3 MTBC Medical Transcription Services Introduction
11.6.4 MTBC Revenue in Medical Transcription Services Business (2019-2024)
11.6.5 MTBC Recent Development
11.7 nThrive
11.7.1 nThrive Company Detail
11.7.2 nThrive Business Overview
11.7.3 nThrive Medical Transcription Services Introduction
11.7.4 nThrive Revenue in Medical Transcription Services Business (2019-2024)
11.7.5 nThrive Recent Development
11.8 Medi-Script Plus
11.8.1 Medi-Script Plus Company Detail
11.8.2 Medi-Script Plus Business Overview
11.8.3 Medi-Script Plus Medical Transcription Services Introduction
11.8.4 Medi-Script Plus Revenue in Medical Transcription Services Business (2019-2024)
11.8.5 Medi-Script Plus Recent Development
11.9 Outsource2india
11.9.1 Outsource2india Company Detail
11.9.2 Outsource2india Business Overview
11.9.3 Outsource2india Medical Transcription Services Introduction
11.9.4 Outsource2india Revenue in Medical Transcription Services Business (2019-2024)
11.9.5 Outsource2india Recent Development
11.10 TransPerfect
11.10.1 TransPerfect Company Detail
11.10.2 TransPerfect Business Overview
11.10.3 TransPerfect Medical Transcription Services Introduction
11.10.4 TransPerfect Revenue in Medical Transcription Services Business (2019-2024)
11.10.5 TransPerfect Recent Development
11.11 VIVA Transcription
11.11.1 VIVA Transcription Company Detail
11.11.2 VIVA Transcription Business Overview
11.11.3 VIVA Transcription Medical Transcription Services Introduction
11.11.4 VIVA Transcription Revenue in Medical Transcription Services Business (2019-2024)
11.11.5 VIVA Transcription Recent Development
11.12 Medscribe
11.12.1 Medscribe Company Detail
11.12.2 Medscribe Business Overview
11.12.3 Medscribe Medical Transcription Services Introduction
11.12.4 Medscribe Revenue in Medical Transcription Services Business (2019-2024)
11.12.5 Medscribe Recent Development
11.13 Pacific Solutions
11.13.1 Pacific Solutions Company Detail
11.13.2 Pacific Solutions Business Overview
11.13.3 Pacific Solutions Medical Transcription Services Introduction
11.13.4 Pacific Solutions Revenue in Medical Transcription Services Business (2019-2024)
11.13.5 Pacific Solutions Recent Development
11.14 Same Day transcriptions
11.14.1 Same Day transcriptions Company Detail
11.14.2 Same Day transcriptions Business Overview
11.14.3 Same Day transcriptions Medical Transcription Services Introduction
11.14.4 Same Day transcriptions Revenue in Medical Transcription Services Business (2019-2024)
11.14.5 Same Day transcriptions Recent Development
11.15 DoctorDocs
11.15.1 DoctorDocs Company Detail
11.15.2 DoctorDocs Business Overview
11.15.3 DoctorDocs Medical Transcription Services Introduction
11.15.4 DoctorDocs Revenue in Medical Transcription Services Business (2019-2024)
11.15.5 DoctorDocs Recent Development
11.16 World Wide Dictation
11.16.1 World Wide Dictation Company Detail
11.16.2 World Wide Dictation Business Overview
11.16.3 World Wide Dictation Medical Transcription Services Introduction
11.16.4 World Wide Dictation Revenue in Medical Transcription Services Business (2019-2024)
11.16.5 World Wide Dictation Recent Development
11.17 Athreon
11.17.1 Athreon Company Detail
11.17.2 Athreon Business Overview
11.17.3 Athreon Medical Transcription Services Introduction
11.17.4 Athreon Revenue in Medical Transcription Services Business (2019-2024)
11.17.5 Athreon Recent Development
11.18 BVS Transtech
11.18.1 BVS Transtech Company Detail
11.18.2 BVS Transtech Business Overview
11.18.3 BVS Transtech Medical Transcription Services Introduction
11.18.4 BVS Transtech Revenue in Medical Transcription Services Business (2019-2024)
11.18.5 BVS Transtech Recent Development
11.19 Excel Transcriptions
11.19.1 Excel Transcriptions Company Detail
11.19.2 Excel Transcriptions Business Overview
11.19.3 Excel Transcriptions Medical Transcription Services Introduction
11.19.4 Excel Transcriptions Revenue in Medical Transcription Services Business (2019-2024)
11.19.5 Excel Transcriptions Recent Development
11.20 GMT
11.20.1 GMT Company Detail
11.20.2 GMT Business Overview
11.20.3 GMT Medical Transcription Services Introduction
11.20.4 GMT Revenue in Medical Transcription Services Business (2019-2024)
11.20.5 GMT Recent Development
11.21 LC Transcription Services
11.21.1 LC Transcription Services Company Detail
11.21.2 LC Transcription Services Business Overview
11.21.3 LC Transcription Services Medical Transcription Services Introduction
11.21.4 LC Transcription Services Revenue in Medical Transcription Services Business (2019-2024)
11.21.5 LC Transcription Services Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details

Published By : QY Research

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