Global Medical Transcription Services Market Research Report 2023(Status and Outlook)

Global Medical Transcription Services Market Research Report 2023(Status and Outlook)



Report Overview

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 Size was estimated at USD 6228.40 million in 2022 and is projected to reach USD 8475.99 million by 2029, exhibiting a CAGR of 4.50% during the forecast period.

Bosson Research’s latest report provides a deep insight into the global Medical Transcription Services market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Medical Transcription Services Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Medical Transcription Services market in any manner.

Global Medical Transcription Services Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key 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

Market Segmentation (by Type)

Outsourcing

Offshoring

Market Segmentation (by Application)

Food & Beverage

Industrial

Pharmaceutical

Others

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Medical Transcription Services Market

Overview of the regional outlook of the Medical Transcription Services Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors


1 Research Methodology and Statistical Scope
1.1 Market Definition and Statistical Scope of Medical Transcription Services
1.2 Key Market Segments
1.2.1 Medical Transcription Services Segment by Type
1.2.2 Medical Transcription Services Segment by Application
1.3 Methodology & Sources of Information
1.3.1 Research Methodology
1.3.2 Research Process
1.3.3 Market Breakdown and Data Triangulation
1.3.4 Base Year
1.3.5 Report Assumptions & Caveats
2 Medical Transcription Services Market Overview
2.1 Global Medical Transcription Services Market Size (M USD) Estimates and Forecasts (2018-2029)
2.2 Market Segment Executive Summary
2.3 Global Market Size by Region
3 Medical Transcription Services Market Competitive Landscape
3.1 Global Medical Transcription Services Revenue Market Share by Manufacturers (2018-2023)
3.2 Medical Transcription Services Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Manufacturers Medical Transcription Services Sales Sites, Area Served, Service Type
3.4 Medical Transcription Services Market Competitive Situation and Trends
3.4.1 Medical Transcription Services Market Concentration Rate
3.4.2 Global 5 and 10 Largest Medical Transcription Services Players Market Share by Revenue
3.4.3 Mergers & Acquisitions, Expansion
4 Medical Transcription Services Value Chain Analysis
4.1 Medical Transcription Services Value Chain Analysis
4.2 Midstream Market Analysis
4.3 Downstream Customer Analysis
5 The Development and Dynamics of Medical Transcription Services Market
5.1 Key Development Trends
5.2 Driving Factors
5.3 Market Challenges
5.4 Market Restraints
5.5 Industry News
5.5.1 Mergers & Acquisitions
5.5.2 Expansions
5.5.3 Collaboration/Supply Contracts
5.6 Industry Policies
6 Medical Transcription Services Market Segmentation by Type
6.1 Evaluation Matrix of Segment Market Development Potential (Type)
6.2 Global Medical Transcription Services Market Size Market Share by Type (2018-2023)
6.3 Global Medical Transcription Services Sales Growth Rate by Type (2019-2023)
7 Medical Transcription Services Market Segmentation by Application
7.1 Evaluation Matrix of Segment Market Development Potential (Application)
7.2 Global Medical Transcription Services Market Size (M USD) by Application (2018-2023)
7.3 Global Medical Transcription Services Sales Growth Rate by Application (2019-2023)
8 Medical Transcription Services Market Segmentation by Region
8.1 Global Medical Transcription Services Market Size by Region
8.1.1 Global Medical Transcription Services Market Size by Region
8.1.2 Global Medical Transcription Services Market Share by Region
8.2 North America
8.2.1 North America Medical Transcription Services Market Size by Country
8.2.2 U.S.
8.2.3 Canada
8.2.4 Mexico
8.3 Europe
8.3.1 Europe Medical Transcription Services Market Size by Country
8.3.2 Germany
8.3.3 France
8.3.4 U.K.
8.3.5 Italy
8.3.6 Russia
8.4 Asia Pacific
8.4.1 Asia Pacific Medical Transcription Services Market Size by Region
8.4.2 China
8.4.3 Japan
8.4.4 South Korea
8.4.5 India
8.4.6 Southeast Asia
8.5 South America
8.5.1 South America Medical Transcription Services Market Size by Country
8.5.2 Brazil
8.5.3 Argentina
8.5.4 Columbia
8.6 Middle East and Africa
8.6.1 Middle East and Africa Medical Transcription Services Market Size by Region
8.6.2 Saudi Arabia
8.6.3 UAE
8.6.4 Egypt
8.6.5 Nigeria
8.6.6 South Africa
9 Key Companies Profile
9.1 Mmodal
9.1.1 Mmodal Medical Transcription Services Basic Information
9.1.2 Mmodal Medical Transcription Services Product Overview
9.1.3 Mmodal Medical Transcription Services Product Market Performance
9.1.4 Mmodal Business Overview
9.1.5 Mmodal Medical Transcription Services SWOT Analysis
9.1.6 Mmodal Recent Developments
9.2 Nuance Communications
9.2.1 Nuance Communications Medical Transcription Services Basic Information
9.2.2 Nuance Communications Medical Transcription Services Product Overview
9.2.3 Nuance Communications Medical Transcription Services Product Market Performance
9.2.4 Nuance Communications Business Overview
9.2.5 Nuance Communications Medical Transcription Services SWOT Analysis
9.2.6 Nuance Communications Recent Developments
9.3 Transcend Services
9.3.1 Transcend Services Medical Transcription Services Basic Information
9.3.2 Transcend Services Medical Transcription Services Product Overview
9.3.3 Transcend Services Medical Transcription Services Product Market Performance
9.3.4 Transcend Services Business Overview
9.3.5 Transcend Services Medical Transcription Services SWOT Analysis
9.3.6 Transcend Services Recent Developments
9.4 Acusis
9.4.1 Acusis Medical Transcription Services Basic Information
9.4.2 Acusis Medical Transcription Services Product Overview
9.4.3 Acusis Medical Transcription Services Product Market Performance
9.4.4 Acusis Business Overview
9.4.5 Acusis Recent Developments
9.5 iMedX Information Services
9.5.1 iMedX Information Services Medical Transcription Services Basic Information
9.5.2 iMedX Information Services Medical Transcription Services Product Overview
9.5.3 iMedX Information Services Medical Transcription Services Product Market Performance
9.5.4 iMedX Information Services Business Overview
9.5.5 iMedX Information Services Recent Developments
9.6 MTBC
9.6.1 MTBC Medical Transcription Services Basic Information
9.6.2 MTBC Medical Transcription Services Product Overview
9.6.3 MTBC Medical Transcription Services Product Market Performance
9.6.4 MTBC Business Overview
9.6.5 MTBC Recent Developments
9.7 nThrive
9.7.1 nThrive Medical Transcription Services Basic Information
9.7.2 nThrive Medical Transcription Services Product Overview
9.7.3 nThrive Medical Transcription Services Product Market Performance
9.7.4 nThrive Business Overview
9.7.5 nThrive Recent Developments
9.8 Medi-Script Plus
9.8.1 Medi-Script Plus Medical Transcription Services Basic Information
9.8.2 Medi-Script Plus Medical Transcription Services Product Overview
9.8.3 Medi-Script Plus Medical Transcription Services Product Market Performance
9.8.4 Medi-Script Plus Business Overview
9.8.5 Medi-Script Plus Recent Developments
9.9 Outsource2india
9.9.1 Outsource2india Medical Transcription Services Basic Information
9.9.2 Outsource2india Medical Transcription Services Product Overview
9.9.3 Outsource2india Medical Transcription Services Product Market Performance
9.9.4 Outsource2india Business Overview
9.9.5 Outsource2india Recent Developments
9.10 TransPerfect
9.10.1 TransPerfect Medical Transcription Services Basic Information
9.10.2 TransPerfect Medical Transcription Services Product Overview
9.10.3 TransPerfect Medical Transcription Services Product Market Performance
9.10.4 TransPerfect Business Overview
9.10.5 TransPerfect Recent Developments
9.11 VIVA Transcription
9.11.1 VIVA Transcription Medical Transcription Services Basic Information
9.11.2 VIVA Transcription Medical Transcription Services Product Overview
9.11.3 VIVA Transcription Medical Transcription Services Product Market Performance
9.11.4 VIVA Transcription Business Overview
9.11.5 VIVA Transcription Recent Developments
9.12 Medscribe
9.12.1 Medscribe Medical Transcription Services Basic Information
9.12.2 Medscribe Medical Transcription Services Product Overview
9.12.3 Medscribe Medical Transcription Services Product Market Performance
9.12.4 Medscribe Business Overview
9.12.5 Medscribe Recent Developments
9.13 Pacific Solutions
9.13.1 Pacific Solutions Medical Transcription Services Basic Information
9.13.2 Pacific Solutions Medical Transcription Services Product Overview
9.13.3 Pacific Solutions Medical Transcription Services Product Market Performance
9.13.4 Pacific Solutions Business Overview
9.13.5 Pacific Solutions Recent Developments
9.14 Same Day transcriptions
9.14.1 Same Day transcriptions Medical Transcription Services Basic Information
9.14.2 Same Day transcriptions Medical Transcription Services Product Overview
9.14.3 Same Day transcriptions Medical Transcription Services Product Market Performance
9.14.4 Same Day transcriptions Business Overview
9.14.5 Same Day transcriptions Recent Developments
9.15 DoctorDocs
9.15.1 DoctorDocs Medical Transcription Services Basic Information
9.15.2 DoctorDocs Medical Transcription Services Product Overview
9.15.3 DoctorDocs Medical Transcription Services Product Market Performance
9.15.4 DoctorDocs Business Overview
9.15.5 DoctorDocs Recent Developments
9.16 World Wide Dictation
9.16.1 World Wide Dictation Medical Transcription Services Basic Information
9.16.2 World Wide Dictation Medical Transcription Services Product Overview
9.16.3 World Wide Dictation Medical Transcription Services Product Market Performance
9.16.4 World Wide Dictation Business Overview
9.16.5 World Wide Dictation Recent Developments
9.17 Athreon
9.17.1 Athreon Medical Transcription Services Basic Information
9.17.2 Athreon Medical Transcription Services Product Overview
9.17.3 Athreon Medical Transcription Services Product Market Performance
9.17.4 Athreon Business Overview
9.17.5 Athreon Recent Developments
9.18 BVS Transtech
9.18.1 BVS Transtech Medical Transcription Services Basic Information
9.18.2 BVS Transtech Medical Transcription Services Product Overview
9.18.3 BVS Transtech Medical Transcription Services Product Market Performance
9.18.4 BVS Transtech Business Overview
9.18.5 BVS Transtech Recent Developments
9.19 Excel Transcriptions
9.19.1 Excel Transcriptions Medical Transcription Services Basic Information
9.19.2 Excel Transcriptions Medical Transcription Services Product Overview
9.19.3 Excel Transcriptions Medical Transcription Services Product Market Performance
9.19.4 Excel Transcriptions Business Overview
9.19.5 Excel Transcriptions Recent Developments
9.20 GMT
9.20.1 GMT Medical Transcription Services Basic Information
9.20.2 GMT Medical Transcription Services Product Overview
9.20.3 GMT Medical Transcription Services Product Market Performance
9.20.4 GMT Business Overview
9.20.5 GMT Recent Developments
9.21 LC Transcription Services
9.21.1 LC Transcription Services Medical Transcription Services Basic Information
9.21.2 LC Transcription Services Medical Transcription Services Product Overview
9.21.3 LC Transcription Services Medical Transcription Services Product Market Performance
9.21.4 LC Transcription Services Business Overview
9.21.5 LC Transcription Services Recent Developments
10 Medical Transcription Services Regional Market Forecast
10.1 Global Medical Transcription Services Market Size Forecast
10.2 Global Medical Transcription Services Market Forecast by Region
10.2.1 North America Market Size Forecast by Country
10.2.2 Europe Medical Transcription Services Market Size Forecast by Country
10.2.3 Asia Pacific Medical Transcription Services Market Size Forecast by Region
10.2.4 South America Medical Transcription Services Market Size Forecast by Country
10.2.5 Middle East and Africa Forecasted Consumption of Medical Transcription Services by Country
11 Forecast Market by Type and by Application (2024-2029)
11.1 Global Medical Transcription Services Market Forecast by Type (2024-2029)
11.2 Global Medical Transcription Services Market Forecast by Application (2024-2029)
12 Conclusion and Key Findings

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