Medical Transcription Services Market
Medical Transcription Services Market Analysis by Consultation Reports, History, Physical Reports, Operative Notes or Reports, Discharge Summaries, and Others from 2023 to 2033
Analysis of Medical Transcription Services Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Medical Transcription Services Market Outlook (2023 to 2033)
The global medical transcription services market was valued at US$ 49.0 Billion in 2022 and is expected to be valued at US$ 52.0 Billion in 2023.
During the 2023-2033 period of assessment, demand is expected to rise at a 6.2% value CAGR, likely to surpass a valuation of US$ 94.9 Billion by the end of the said forecast period.
Report Attributes |
Details |
|
Anticipated Base Year Value (2022) |
US$ 49.0 Billion |
|
Expected Market Value (2023) |
US$ 52.0 Billion |
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Projected Forecast Value (2033) |
US$ 95.0 Billion |
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Global Growth Rate (2023-2033) |
6.2% |
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Market share of North America (2023-2033) |
39% |
|
Anticipated share of Asia Pacific Market(2023-2033) |
28% |
|
Prominent Players in The Global Market |
|
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Medical Transcription Services Market Revenue Analysis from 2018-2022 Vs Market Outlook for 2023-2033
Increasing awareness of medical documentation and its implementation by many healthcare professionals, hospitals, clinics, and healthcare institutes is driving the growth of the medical transcriptional services market.
To maximize operational effectiveness, enhance patient care quality, and reduce capital investment healthcare facilities adopt medical transcriptional services it also helps in maintaining records of patient care and treatment that include medical examination results, treatment plans, and pertinent data this is helpful to healthcare professionals.
As per market research and competitive intelligence provider Fact.MR, the market for medical transcription services witnessed a 4.1% CAGR from 2018 to 2022. In emerging economies, medical transcription services are increasingly being adopted to improve the quality of healthcare services and the growth of the industry.
Companies have started to use technology to improve their operations such as automation and digital system which are playing a significant role in boosting the global market for medical transcription services. These technologies are enhancing the efficiency, accuracy, as well as convenience of medical transcription services, which also contribute to market growth.
Medical transcription services are evolving at a faster pace to improve the. quality and efficiency of the transcription process and created an opportunistic space for new players in the global pathology services market
Prominent Growth Drivers Influencing the Medical Transcription Services Market
Technological Advancement in Transcriptional Services to Boost the Market Growth
The growing launch of medical transcriptional services is expected to propel the growth of the medical transcriptional services market over the forecast period. Medical transcription services are high in demand owing to the increasing demand for effective solutions from various healthcare centers.
- For instance, Amberscript introduced software that uses speech recognition technology to convert speech into text very easily, very quickly, and automatically. The engines can convert professional audio recordings into written text with 95 percent accuracy.
Technological advancements such as voice recognition, artificial intelligence, and machine learning are being widely used in healthcare technologies for the improvement of treatment outcomes and clinical documentation. Thus, the increased use of AI-powered voice recognition solutions over traditional ones drives the market during the forecast period.
Rise in The Prevalence of Chronic Diseases and Increased Demand for Medical Records to Drive the Market Growth
The increase in the prevalence of several chronic diseases has consistently contributed to a rise in the number of medical records created in clinics. The increasing knowledge among businesses about the benefits of preserving data in electronic health records is driving the medical transcription services market
The increasing patient pool increased in the number of surgical procedures performed and the rapidly increasing healthcare infrastructure are the factor responsible for the growth of medical transcription services. The increase in government initiatives and increase in the geriatric population and the availability of different cost-effective software are driving the growth of medical transcription services.
Also, the increased trend of novel recording system which combines audio recorder and speech recognition bodes well for market growth.
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Which Market Challenges Are Hampering Medical Transcription Services Market Sales?
The high cost of services may hamper the market growth
Despite the growing popularity of medical transcription services, various factors are likely to pose a threat to the growth of the market during the forecast period.
The stringent government scenario is expected to hinder market growth as a service provider needs to deal with various state, federal, and government regulations. For instance, in the U.S. Health Insurance Profitability and Accountability Act (HIPAA) dictates many aspects of medical record handling.
Limited awareness in developing regions and a lack of skilled workforce, the high cost associated with technologically advanced medical transcription services are expected to restrain the market growth.
Comparative View of Medical Transcription Services Industry
Medical Transcription Services Market :
|
Attributes |
Medical Transcription Services Market |
|
Growth Factor |
The increasing awareness about the benefits of electronic patient record keeping is likely to boost the market growth throughout the forecast period. |
|
Opportunity |
Rising investment in healthcare in developed countries and market penetration of key manufacturers in the developing region are expected to provide opportunities for the growth of the medical transcription services market. |
Medical Transcription Software Market :
|
Attributes |
Medical Transcription Software Market |
|
Growth Factor |
The increasing demand for digital documentation in numerous areas of healthcare, as it facilitates the treatment and management is likely to drive the medical transcription software market. |
|
Opportunity |
The increasing awareness of the benefits of digital health technologies, leading to a rise in the usage of solutions such as medical transcription software is likely to drive the demand for medical transcription software in the upcoming time. |
Healthcare Consulting Services Market :
|
Attributes |
Healthcare Consulting Services Market |
|
Growth Factor |
Increasing world aging population continual technological breakthroughs in healthcare are the factors improving the growth of the healthcare consulting services market. |
|
Opportunity |
Technological advancement in medical services and increased demand for effective realistic solutions are factors fuelling the market growth in the coming years. |
Regional Outlook
What is the outlook of the North American Medical Transcription Services Market?
The Rising Importance of Clinical Documentation in The Region Drives Market Growth
According to Fact.MR, North America is the fastest-growing market region, accounting for 39% of the market share in 2023, and is expected to maintain its dominance during the analysis period. Additionally, regional growth can be attributed to the factors such as the increasing demand for clinical documentation, technical advancements in product offerings, emphasis on retaining health information in structured formats, and regulatory restrictions.
The U.S. is the leading medical transcriptional services market due to increased medical documentation in the U.S. the use of transcriptional services in the US is high as an effect of the passing Patient Protection and Affordable Care Act. Also, many healthcare professionals availing medical transcriptional services are domiciled in the U.S., thus increasing the scope of inshore outsourcing. U.S. is expected to grow at a CAGR of 5.7% over the forecast period.
What is the demand outlook for Medical Transcription Services in Europe?
The presence of an advanced healthcare system will accelerate the medical transcription services in the region
According to Fact.MR, the Europe market is expected to account for 21% of the market share in 2023 and is expected to accelerate during the forecast period. Europe the market for medical transcription services is anticipated to demonstrate lucrative growth during the forecast period owing rising importance of clinical documentation and technological advances.
- For instance, in October 2022 - Lexacom announced the launch of a unique development in medical speech recognition technology, with the addition of Comprehension Engine® to Lexacom Echo. The major factor contributing to the growth of this region is the policies that support the adoption of medical transcription services and the availability of infrastructure with high digital literacy.
How do Growth Prospects for Medical Transcription Services Appear in the Asian Market?
Technological advancement in the region to boost the market growth
The Asia market, which includes East Asia and South Asia & Oceania, is expected to account for 28% of the market share in 2023 and is expected to accelerate during the analysis period.
The Asian medical transcription services market has witnessed a high market share in the global market due to the high adoption of technological advancements. Countries in the Asia Pacific are focusing more on the medical transcriptional service industry rather than on using medical transcriptional services.
As governments in the countries like India, and China, are providing subsidiaries, incentives, and cost benefits in internet services and tax benefits for infrastructure required for the setup of medical transcriptional companies and developing skilled manpower, and improving technology.
Category-wise Insights
By Service Type, which Is the Most Prominent Segment in the Medical Transcription Services Market?
Consultation Reports to account for the Maximum Revenue Share
Based on services, the consultation report segment is expected to dominate the market in the forecast period. The segment is projected to exhibit a market share of 34%. Consultation reports is an important of the “Big Four” reports in medical transcription work, and is typically requested by a primary care physician from a specialist for an expert opinion regarding a particular diagnosis or illness.
Consultation reports are important because it provides vital information regarding the evaluation of a patient’s overall health, the consultant’s evaluation of that patient, and the health condition and consultant recommendations. Based on said recommendations, doctors may prescribe the appropriate course of treatment.
By Mode of Procurement Which Segment Accounts for the Highest Revenue in the Medical Transcription Services Market?
Outsource segment to gain a significant traction
Based on the mode of procurement the medical transcription services market is segmented into outsource, off-source, and others. Among all these outsource segment remains the top mode of procurement category expected to expand with a market share of 47% throughout the forecast period.
Developing in-house manpower capable of transcribing medical information with accuracy along with developing and maintaining infrastructure for medical transcriptional services is costly. Thus many healthcare professionals outsource their transcription job to save time and resources. This is the major factor driving the outsourcing segment growth.
On the other hand, a market share of 31% is projected for the off-source segment by Fact.MR until 2033. The growing emergence of advanced testing techniques and equipment has led to the growth of the diagnostic laboratories segment.
Start-Ups for Medical Transcription Services Market
The start-ups in the medical transcription services market are indulging in collaboration and continually making innovations in the procedures to further make it convenient and cost-effective for the population.
Some key start-ups in the medical transcription services market include -
- Founded in 2017 - eCareNotes offers speech recognition software for medical transcription. The platform provides real-time conversion of speech to text and tools to edit and finalize the drafts. Target customers are physicians and transcription service providers. It also, provides document management and workflow management platforms and on-demand transcription services.
- Founded in 2000 - Global Medical Transcription (GMT) provides technology solutions for the medical transcription industry. Its flagship product GMT Mobile allows healthcare providers the ability to dictate using their Apple iOS or Android device and offers an ability to view their schedules. Can be interfaced with any Electronic Medical Record Vendor, the app identifies and implements strategic tactics to enhance growth and assist in workflow strategies. The app is available on both Android & iOS platforms.
- Founded in 2002 - Intivia is a provider of an EMR and Practice Management system, Medical Transcription service, and Revenue Cycle Management service to healthcare facilities throughout the United States. They were acquired by MD On-Line (MDOL) in 2012. MDOL was looking to extend Intivia's EMR and PM offerings to those customers currently without a practice management system, while Intivia's medical transcription and revenue cycle management services were made available to all MDOL provider
- Medical Transcription provides medical transcription and speech recognition solutions. The company provides services like real-time online transcription and integration with existing or planned health information systems. The company offers its services to multi-facility health systems, single hospital departments, radiology centers, and physician groups.
Competitive Landscape
Examples of some of the market participants in the global medical transcription services market identified across the value chain include Acusis, Amberscript, Aquity Solutions, Caption First, Daily Transcription, Ditto Scribe, Eccellente Services Pvt. Ltd., EHR Transcriptions, GoTranscript, InSync Healthcare Solutions, Med-Scribe, MTBC, SmartMD, Voxtab, World Wide Dictation among others.
Leading market players are making strategic investments in technological innovation and R&D initiatives to increase service quality. To achieve a substantial market share in the worldwide medical transcriptional services market and strengthen their position, service providers are pursuing expansion methods such as current developments, mergers and acquisitions, collaborations, and partnerships, joint ventures.
Some of the development is as follows -
- In March 2022 - Aquity Solutions, a leading provider of virtual solutions for real-time clinical documentation, medical coding, and mid-revenue cycle offerings today announced the acquisition of Pittsburgh, PA-based Acusis. The purchase expands AQuity’s scope of solutions to now include Practice Management, Tumor Registry, Medical Billing, and Collection services.
- In February 2023 - CareCloud, Inc. announced the integration of Medicomp System’s Quippe Clinical Data Engine into its electronic health record (EHR) platforms, ensuring that patient- and problem-specific clinical data is available to physicians of various specialties at the time of patient treatment.
- In December 2021 - Qualifacts?+ Credible, a leading provider of electronic health record platforms?for behavioral health and human services organizations, announced the acquisition of InSync Healthcare Solutions.
Key Segments Covered in Medical Transcription Services Industry Report
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By Service Type :
- Consultation Report
- History, and Physical report
- Operative Note or Report
- Discharge Summary
- Others
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By Mode of Procurement :
- OutSource
- OffSource
- Both
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
Table of Content
1. Global Market - Executive Summary 2. Market Overview 2.1. Market Definition and Introduction 2.2. Market Taxonomy/ Research Scope 3. Market Characteristic – Bird Eye View 3.1. Top 10 Companies 3.1.1. Globally 3.1.2. Regionally 3.2. Number of Active Firms by Key Countries 3.3. Number of People Employed 3.4. Average Revenue Per Employee 3.5. Threshold of Revenue Volatility 3.6. Consistency in Demand 3.7. Key Barriers to Entry 4. Market Background and Characteristics 4.1. Global Market Outlook Statistics (US$), 2018 – 2022 4.2. Emerging Trends in Medical Transcription Industry 4.2.1. Voice Recognition Software 4.2.2. Automation 4.2.3. Out Sourcing Services 4.3. Impact of Technology Advancement in Medical Transcription Industry 4.3.1. Employment in Medical Transcription Industry 4.3.2. Cost Saving by Medical Institutions 4.3.3. Accurate and Structured Data 4.4. Market Dynamics 4.4.1. Key Growth Drivers 4.4.2. Industry Challenges 4.4.3. Notable Current and Future Trends 4.5. Opportunity and White Space Assessment 4.5.1. Total Available Market (US$ Billion) 4.5.2. Serviceable Addressable Market (US$ Billion) 4.5.3. Serviceable Obtainable Market (US$ Billion) 4.6. Forecast and Macro-Economic Factors – Relevance and Impact 4.7. Key Success Factors and Winning Imperatives 5. Global Market Value (US$ Billion) Analysis and Forecast 5.1. Historical Market Value (US$ Billion) Analysis, 2018-2022 5.2. Current and Future Market Value (US$ Billion), 2023-2033 5.2.1. Y-o-Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. Global Market Analysis and Forecast, By Service Type 6.1. Introduction / Key Findings 6.2. Historical Market Size (US$ Billion) Analysis By Service Type, 2018-2022 6.3. Current and Future Market Size (US$ Billion) Analysis By Service Type, 2023-2033 6.3.1. Consultation Report 6.3.2. History and Physical Report 6.3.3. Operative Note or Report 6.3.4. Discharge Summary 6.3.5. Others 6.4. Market Attractiveness Analysis By Service Type 7. Global Market Analysis and Forecast, By Mode of Procurement 7.1. Introduction / Key Findings 7.2. Historical Market Size (US$ Billion) Analysis By Mode of Procurement, 2018-2022 7.3. Current and Future Market Size (US$ Billion) Analysis By Mode of Procurement, 2023-2033 7.3.1. Outsource 7.3.2. Off Source 7.3.3. Both 7.4. Market Attractiveness Analysis By Mode of Procurement 8. Global Market Analysis and Forecast, By Region 8.1. Introduction 8.2. Historical Market Size (US$ Billion) Analysis By Region, 2018-2022 8.3. Current Market Size (US$ Billion) Analysis and Forecast By Region, 2023-2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. East Asia 8.3.5. South Asia and Oceania 8.3.6. Middle East & Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis and Forecast 9.1. Introduction / Key Findings 9.2. Pricing Analysis 9.3. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 9.4. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 9.4.1. By Country 9.4.1.1. U.S. 9.4.1.2. Canada 9.4.2. By Service Type 9.4.3. By Mode of Procurement 9.5. Market Attractiveness Analysis 9.5.1. By Country 9.5.2. By Service Type 9.5.3. By Mode of Procurement 10. Latin America Market Analysis and Forecast 10.1. Introduction / Key Findings 10.2. Pricing Analysis 10.3. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 10.4. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 10.4.1. By Country 10.4.1.1. Brazil 10.4.1.2. Mexico 10.4.1.3. Argentina 10.4.1.4. Peru 10.4.1.5. Rest of Latin America 10.4.2. By Service Type 10.4.3. By Mode of Procurement 10.5. Market Attractiveness Analysis 10.5.1. By Country 10.5.2. By Service Type 10.5.3. By Mode of Procurement 11. Europe Market Analysis and Forecast 11.1. Introduction / Key Findings 11.2. Pricing Analysis 11.3. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 11.4. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 11.4.1. By Country 11.4.1.1. Germany 11.4.1.2. Italy 11.4.1.3. France 11.4.1.4. U.K. 11.4.1.5. Spain 11.4.1.6. BENELUX 11.4.1.7. NORDIC 11.4.1.8. Rest of Europe 11.4.2. By Service Type 11.4.3. By Mode of Procurement 11.5. Market Attractiveness Analysis 11.5.1. By Country 11.5.2. By Service Type 11.5.3. By Mode of Procurement 12. East Asia Market Analysis and Forecast 12.1. Introduction / Key Findings 12.2. Pricing Analysis 12.3. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 12.4. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 12.4.1. By Country 12.4.1.1. China 12.4.1.2. Japan 12.4.1.3. South Korea 12.4.2. By Service Type 12.4.3. By Mode of Procurement 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Service Type 12.5.3. By Mode of Procurement 13. South Asia & Oceania Market Analysis and Forecast 13.1. Introduction / Key Findings 13.2. Pricing Analysis 13.3. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 13.4. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 13.4.1. By Country 13.4.1.1. India 13.4.1.2. Thailand 13.4.1.3. Indonesia 13.4.1.4. Malaysia 13.4.1.5. Australia 13.4.1.6. Rest of South Asia & Oceania 13.4.2. By Service Type 13.4.3. By Mode of Procurement 13.5. Market Attractiveness Analysis 13.5.1. By Country 13.5.2. By Service Type 13.5.3. By Mode of Procurement 14. Middle East & Africa Market Analysis and Forecast 14.1. Introduction / Key Findings 14.2. Pricing Analysis 14.3. Historical Market Size (US$ Billion) Trend Analysis By Market Taxonomy, 2018-2022 14.4. Market Size (US$ Billion) Forecast By Market Taxonomy, 2023 - 2033 14.4.1. By Country 14.4.1.1. GCC Countries 14.4.1.2. Turkiye 14.4.1.3. North African Region 14.4.1.4. South Africa 14.4.1.5. Rest of Middle East and Africa 14.4.2. By Service Type 14.4.3. By Mode of Procurement 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Service Type 14.5.3. By Mode of Procurement 15. Country-level Market Analysis and Forecast 15.1. Introduction / Key Findings 15.1.1. Market Value Proportion Analysis, By Key Countries 15.1.2. Global Vs. Country Growth Comparison 15.2. Us Market Analysis 15.2.1. Value Proportion Analysis By Market Taxonomy 15.2.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.2.2.1. By Service Type 15.2.2.2. By Mode of Procurement 15.3. Canada Market Analysis 15.3.1. Value Proportion Analysis By Market Taxonomy 15.3.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.3.2.1. By Service Type 15.3.2.2. By Mode of Procurement 15.4. Brazil Market Analysis 15.4.1. Value Proportion Analysis By Market Taxonomy 15.4.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.4.2.1. By Service Type 15.4.2.2. By Mode of Procurement 15.5. Mexico Market Analysis 15.5.1. Value Proportion Analysis By Market Taxonomy 15.5.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.5.2.1. By Service Type 15.5.2.2. By Mode of Procurement 15.6. Argentina Market Analysis 15.6.1. Value Proportion Analysis By Market Taxonomy 15.6.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.6.2.1. By Service Type 15.6.2.2. By Mode of Procurement 15.7. Germany Market Analysis 15.7.1. Value Proportion Analysis By Market Taxonomy 15.7.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.7.2.1. By Service Type 15.7.2.2. By Mode of Procurement 15.8. France Market Analysis 15.8.1. Value Proportion Analysis By Market Taxonomy 15.8.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.8.2.1. By Service Type 15.8.2.2. By Mode of Procurement 15.9. Italy Market Analysis 15.9.1. Value Proportion Analysis By Market Taxonomy 15.9.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.9.2.1. By Service Type 15.9.2.2. By Mode of Procurement 15.10. Spain Market Analysis 15.10.1. Value Proportion Analysis By Market Taxonomy 15.10.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.10.2.1. By Service Type 15.10.2.2. By Mode of Procurement 15.11. Peru Market Analysis 15.11.1. Value Proportion Analysis By Market Taxonomy 15.11.2. Value Proportion Analysis By Market Taxonomy 15.11.3. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.11.3.1. By Service Type 15.11.3.2. By Mode of Procurement 15.12. NORDIC Market Analysis 15.12.1. Value Proportion Analysis By Market Taxonomy 15.12.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.12.2.1. By Service Type 15.12.2.2. By Mode of Procurement 15.13. BENELUX Market Analysis 15.13.1. Value Proportion Analysis By Market Taxonomy 15.13.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.13.2.1. By Service Type 15.13.2.2. By Mode of Procurement 15.14. U.K. Market Analysis 15.14.1. Value Proportion Analysis By Market Taxonomy 15.14.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.14.2.1. By Service Type 15.14.2.2. By Mode of Procurement 15.15. China Market Analysis 15.15.1. Value Proportion Analysis By Market Taxonomy 15.15.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.15.2.1. By Service Type 15.15.2.2. By Mode of Procurement 15.16. Japan Market Analysis 15.16.1. Value Proportion Analysis By Market Taxonomy 15.16.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.16.2.1. By Service Type 15.16.2.2. By Mode of Procurement 15.17. South Korea Market Analysis 15.17.1. Value Proportion Analysis By Market Taxonomy 15.17.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.17.2.1. By Service Type 15.17.2.2. By Mode of Procurement 15.18. India Market Analysis 15.18.1. Value Proportion Analysis By Market Taxonomy 15.18.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.18.2.1. By Service Type 15.18.2.2. By Mode of Procurement 15.19. ASEAN Countries Market Analysis 15.19.1. Value Proportion Analysis By Market Taxonomy 15.19.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.19.2.1. By Service Type 15.19.2.2. By Mode of Procurement 15.20. GCC Countries Market Analysis 15.20.1. Value Proportion Analysis By Market Taxonomy 15.20.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.20.2.1. By Service Type 15.20.2.2. By Mode of Procurement 15.21. Turkiye Market Analysis 15.21.1. Value Proportion Analysis By Market Taxonomy 15.21.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.21.2.1. By Service Type 15.21.2.2. By Mode of Procurement 15.22. South Africa Market Analysis 15.22.1. Value Proportion Analysis By Market Taxonomy 15.22.2. Value (US$ Billion) Analysis and Forecast By Market Taxonomy, 2018-2033 15.22.2.1. By Service Type 15.22.2.2. By Mode of Procurement 16. Market Structure Analysis 16.1. Market Analysis By Tier of Companies 16.2. Market Share Analysis of Top Players 17. Medical Transcription Service Type Competition Analysis 17.1. Competition Dashboard 17.2. Competition Deep Dive: Market 17.2.1. Acusis 17.2.1.1. Overview 17.2.1.2. Key Financials 17.2.1.3. SWOT Analysis 17.2.1.4. Key Developments 17.2.1.5. Strategy Overview 17.2.2. Amberscript 17.2.2.1. Overview 17.2.2.2. Key Financials 17.2.2.3. SWOT Analysis 17.2.2.4. Key Developments 17.2.2.5. Strategy Overview 17.2.3. Aquity Solutions 17.2.3.1. Overview 17.2.3.2. Key Financials 17.2.3.3. SWOT Analysis 17.2.3.4. Key Developments 17.2.3.5. Strategy Overview 17.2.4. Caption First 17.2.4.1. Overview 17.2.4.2. Key Financials 17.2.4.3. SWOT Analysis 17.2.4.4. Key Developments 17.2.4.5. Strategy Overview 17.2.5. Daily Transcription 17.2.5.1. Overview 17.2.5.2. Key Financials 17.2.5.3. SWOT Analysis 17.2.5.4. Key Developments 17.2.5.5. Strategy Overview 17.2.6. Ditto Scribe 17.2.6.1. Overview 17.2.6.2. Key Financials 17.2.6.3. SWOT Analysis 17.2.6.4. Key Developments 17.2.6.5. Strategy Overview 17.2.7. Eccellente Services Pvt. Ltd. 17.2.7.1. Overview 17.2.7.2. Key Financials 17.2.7.3. SWOT Analysis 17.2.7.4. Key Developments 17.2.7.5. Strategy Overview 17.2.8. EHR Transcriptions 17.2.8.1. Overview 17.2.8.2. Key Financials 17.2.8.3. SWOT Analysis 17.2.8.4. Key Developments 17.2.8.5. Strategy Overview 17.2.9. GoTranscript 17.2.9.1. Overview 17.2.9.2. Key Financials 17.2.9.3. SWOT Analysis 17.2.9.4. Key Developments 17.2.9.5. Strategy Overview 17.2.10. InSync Healthcare Solutions 17.2.10.1. Overview 17.2.10.2. Key Financials 17.2.10.3. SWOT Analysis 17.2.10.4. Key Developments 17.2.10.5. Strategy Overview 17.2.11. Med-Scribe 17.2.11.1. Overview 17.2.11.2. Key Financials 17.2.11.3. SWOT Analysis 17.2.11.4. Key Developments 17.2.11.5. Strategy Overview 17.2.12. MTBC 17.2.12.1. Overview 17.2.12.2. Key Financials 17.2.12.3. SWOT Analysis 17.2.12.4. Key Developments 17.2.12.5. Strategy Overview 17.2.13. SmartMD 17.2.13.1. Overview 17.2.13.2. Key Financials 17.2.13.3. SWOT Analysis 17.2.13.4. Key Developments 17.2.13.5. Strategy Overview 17.2.14. Voxtab 17.2.14.1. Overview 17.2.14.2. Key Financials 17.2.14.3. SWOT Analysis 17.2.14.4. Key Developments 17.2.14.5. Strategy Overview 17.2.15. World Wide Dictation 17.2.15.1. Overview 17.2.15.2. Key Financials 17.2.15.3. SWOT Analysis 17.2.15.4. Key Developments 17.2.15.5. Strategy Overview 17.2.16. Other Key Players 17.2.16.1. Overview 17.2.16.2. Key Financials 17.2.16.3. SWOT Analysis 17.2.16.4. Key Developments 17.2.16.5. Strategy Overview 18. Assumptions & Acronyms Used 19. Research Methodology
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List Of Table
Table 01. Global Market Value (US$ Billion) and Forecast By Region, 2018-2022
Table 02. Global Market Value (US$ Billion) and Forecast By Region, 2023-2033
Table 03. Global Market Value (US$ Billion) and Forecast By Service Type, 2018-2022
Table 04. Global Market Value (US$ Billion) and Forecast By Service Type, 2023-2033
Table 05. Global Market Value (US$ Billion) and Forecast By Mode of Procurement, 2018-2022
Table 06. Global Market Value (US$ Billion) and Forecast By Mode of Procurement, 2023-2033
Table 07. North America Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 08. North America Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 09. North America Market Value (US$ Billion) and Forecast By Service Type, 2018-2022
Table 10. North America Market Value (US$ Billion) and Forecast By Service Type, 2023-2033
Table 11. North America Market Value (US$ Billion) and Forecast By Mode of Procurement, 2018-2022
Table 12. North America Market Value (US$ Billion) and Forecast By Mode of Procurement, 2023-2033
Table 13. Latin America Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 14. Latin America Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 15. Latin America Market Value (US$ Billion) and Forecast By Service Type, 2018-2022
Table 16. Latin America Market Value (US$ Billion) and Forecast By Service Type, 2023-2033
Table 17. Latin America Market Value (US$ Billion) and Forecast By Mode of Procurement, 2018-2022
Table 18. Latin America Market Value (US$ Billion) and Forecast By Mode of Procurement, 2023-2033
Table 19. Europe Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 20. Europe Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 21. Europe Market Value (US$ Billion) and Forecast By Service Type, 2018-2022
Table 22. Europe Market Value (US$ Billion) and Forecast By Service Type, 2023-2033
Table 23. Europe Market Value (US$ Billion) and Forecast By Mode of Procurement, 2018-2022
Table 24. Europe Market Value (US$ Billion) and Forecast By Mode of Procurement, 2023-2033
Table 25. East Asia Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 26. East Asia Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 27. East Asia Market Value (US$ Billion) and Forecast By Service Type, 2023-2033
Table 28. East Asia Market Value (US$ Billion) and Forecast By Mode of Procurement, 2018-2022
Table 29. East Asia Market Value (US$ Billion) and Forecast By Mode of Procurement, 2023-2033
Table 30. South Asia & Oceania Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 31. South Asia & Oceania Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 32. South Asia & Oceania Market Value (US$ Billion) and Forecast By Service Type, 2018-2022
Table 33. South Asia & Oceania Market Value (US$ Billion) and Forecast By Service Type, 2023-2033
Table 34. South Asia & Oceania Market Value (US$ Billion) and Forecast By Mode of Procurement, 2018-2022
Table 35. South Asia & Oceania Market Value (US$ Billion) and Forecast By Mode of Procurement, 2023-2033
Table 36. MEA Market Value (US$ Billion) and Forecast By Country, 2018-2022
Table 37. MEA Market Value (US$ Billion) and Forecast By Country, 2023-2033
Table 38. MEA Market Value (US$ Billion) and Forecast By Service Type, 2018-2022
Table 39. MEA Market Value (US$ Billion) and Forecast By Service Type, 2023-2033
Table 40. MEA Market Value (US$ Billion) and Forecast By Mode of Procurement, 2018-2022
Table 41. MEA Market Value (US$ Billion) and Forecast By Mode of Procurement, 2023-2033
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List Of Figures
Figure 01. Global Market Value (US$ Billion) Forecast, 2023-2033
Figure 02. Global Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 03. Global Market Value (US$ Billion) By Region, 2023 & 2033
Figure 04. Global Market Y-o-Y Growth Rate By Region, 2023-2033
Figure 05. Global Market Value (US$ Billion) By Service Type, 2023 & 2033
Figure 06. Global Market Y-o-Y Growth Rate By Service Type, 2023-2033
Figure 07. Global Market Value (US$ Billion) By Mode of Procurement, 2023 & 2033
Figure 08. Global Market Y-o-Y Growth Rate By Mode of Procurement, 2023-2033
Figure 09. North America Market Value (US$ Billion) Forecast, 2023-2033
Figure 10. North America Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 11. North America Market Value (US$ Billion) By Country, 2023 & 2033
Figure 12. North America Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 13. North America Market Value (US$ Billion) By Service Type, 2023 & 2033
Figure 14. North America Market Y-o-Y Growth Rate By Service Type, 2023-2033
Figure 15. North America Market Value (US$ Billion) By Mode of Procurement, 2023 & 2033
Figure 16. North America Market Y-o-Y Growth Rate By Mode of Procurement, 2023-2033
Figure 17. North America Market Attractiveness Analysis By Country, 2023-2033
Figure 18. North America Market Attractiveness Analysis By Service Type, 2023-2033
Figure 19. North America Market Attractiveness Analysis By Mode of Procurement, 2023-2033
Figure 20. Latin America Market Value (US$ Billion) Forecast, 2023-2033
Figure 21. Latin America Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 22. Latin America Market Value (US$ Billion) By Country, 2023 & 2033
Figure 23. Latin America Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 24. Latin America Market Value (US$ Billion) By Service Type, 2023 & 2033
Figure 25. Latin America Market Y-o-Y Growth Rate By Service Type, 2023-2033
Figure 26. Latin America Market Value (US$ Billion) By Mode of Procurement, 2023 & 2033
Figure 27. Latin America Market Y-o-Y Growth Rate By Mode of Procurement, 2023-2033
Figure 28. Latin America Market Attractiveness Analysis By Country, 2023-2033
Figure 29. Latin America Market Attractiveness Analysis By Service Type, 2023-2033
Figure 30. Latin America Market Attractiveness Analysis By Mode of Procurement, 2023-2033
Figure 31. Europe Market Value (US$ Billion) Forecast, 2023-2033
Figure 32. Europe Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 33. Europe Market Value (US$ Billion) By Country, 2023 & 2033
Figure 34. Europe Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 35. Europe Market Value (US$ Billion) By Service Type, 2023 & 2033
Figure 36. Europe Market Y-o-Y Growth Rate By Service Type, 2023-2033
Figure 37. Europe Market Value (US$ Billion) By Mode of Procurement, 2023 & 2033
Figure 38. Europe Market Y-o-Y Growth Rate By Mode of Procurement, 2023-2033
Figure 39. Europe Market Attractiveness Analysis By Country, 2023-2033
Figure 40. Europe Market Attractiveness Analysis By Service Type, 2023-2033
Figure 41. Europe Market Attractiveness Analysis By Mode of Procurement, 2023-2033
Figure 42. East Asia Market Value (US$ Billion) Forecast, 2023-2033
Figure 43. East Asia Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 44. East Asia Market Value (US$ Billion) By Country, 2023 & 2033
Figure 45. East Asia Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 46. East Asia Market Value (US$ Billion) By Service Type, 2023 & 2033
Figure 47. East Asia Market Y-o-Y Growth Rate By Service Type, 2023-2033
Figure 48. East Asia Market Value (US$ Billion) By Mode of Procurement, 2023 & 2033
Figure 49. East Asia Market Y-o-Y Growth Rate By Mode of Procurement, 2023-2033
Figure 50. East Asia Market Attractiveness Analysis By Country, 2023-2033
Figure 51. East Asia Market Attractiveness Analysis By Service Type, 2023-2033
Figure 52. East Asia Market Attractiveness Analysis By Mode of Procurement, 2023-2033
Figure 53. South Asia & Oceania Market Value (US$ Billion) Forecast, 2023-2033
Figure 54. South Asia & Oceania Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 55. South Asia & Oceania Market Value (US$ Billion) By Country, 2023 & 2033
Figure 56. South Asia & Oceania Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 57. South Asia & Oceania Market Value (US$ Billion) By Service Type, 2023 & 2033
Figure 58. South Asia & Oceania Market Y-o-Y Growth Rate By Service Type, 2023-2033
Figure 59. South Asia & Oceania Market Value (US$ Billion) By Mode of Procurement, 2023 & 2033
Figure 60. South Asia & Oceania Market Y-o-Y Growth Rate By Mode of Procurement, 2023-2033
Figure 61. South Asia & Oceania Market Attractiveness Analysis By Country, 2023-2033
Figure 62. South Asia & Oceania Market Attractiveness Analysis By Service Type, 2023-2033
Figure 63. South Asia & Oceania Market Attractiveness Analysis By Mode of Procurement, 2023-2033
Figure 64. MEA Market Value (US$ Billion) Forecast, 2023-2033
Figure 65. MEA Market Absolute $ Opportunity (US$ Billion), 2023-2033
Figure 66. MEA Market Value (US$ Billion) By Country, 2023 & 2033
Figure 67. MEA Market Y-o-Y Growth Rate By Country, 2023-2033
Figure 68. MEA Market Value (US$ Billion) By Service Type, 2023 & 2033
Figure 69. MEA Market Y-o-Y Growth Rate By Service Type, 2023-2033
Figure 70. MEA Market Value (US$ Billion) By Mode of Procurement, 2023 & 2033
Figure 71. MEA Market Y-o-Y Growth Rate By Mode of Procurement, 2023-2033
Figure 72. MEA Market Attractiveness Analysis By Country, 2023-2033
Figure 73. MEA Market Attractiveness Analysis By Service Type, 2023-2033
Figure 74. MEA Market Attractiveness Analysis By Mode of Procurement, 2023-2033
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- FAQs -
What is the expected worth of the medical transcription services industry in 2023?
By 2023, Fact.MR expected demand for medical transcription services to reach a valuation of US$ 52.0 Billion.
What is the expected forecast CAGR for medical transcription services from 2023-2033?
From 2023-2033, medical transcription services demand is likely to surge at a 6.2% CAGR.
At what value will the market for medical transcription services close in 2033?
By 2033, the market for medical transcription services is likely to be valued at US$ 95.0 Billion.
By service type, which category is likely to remain prominent until 2033?
The consultation report segment will remain the most prominent user, accounting for a market share of 34%.
What was the market worth for medical transcription services in 2022?
As of 2022, Fact.MR estimated the medical transcription services market to have reached US$ 49.0 Billion.
At what CAGR did the medical transcription services market flourish from 2018-2022?
From 2018-2022, the medical transcription services market grew at a 4.1% value CAGR.
Medical Transcription Services Market