North America Medical Speech Recognition Software Market Size, Share & Trends Analysis Report By Deployment (Cloud-based and On-premises), By Functionality, By End Use, By Country and Growth Forecast, 2024 - 2031

North America Medical Speech Recognition Software Market Size, Share & Trends Analysis Report By Deployment (Cloud-based and On-premises), By Functionality, By End Use, By Country and Growth Forecast, 2024 - 2031

The North America Medical Speech Recognition Software Market would witness market growth of 10.2% CAGR during the forecast period (2024-2031).

The US market dominated the North America Medical Speech Recognition Software Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,082.9 million by 2031. The Canada market is experiencing a CAGR of 12.5% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 11.7% during (2024 - 2031).

Speech recognition systems integrated with clinical decision-support tools allow healthcare providers to access decision-support resources via voice commands. This integration facilitates immediate access to guidelines, drug interactions, and diagnostic suggestions, supporting informed decision-making during patient care. The software can provide contextual assistance based on the spoken content, helping clinicians make decisions relevant to the specific clinical scenario being discussed.

Healthcare providers can use voice commands to update patient records, including adding new information, modifying existing entries, and correcting errors. This voice-driven approach streamlines the record-keeping process and ensures that patient records are consistently maintained. The software helps organize and structure patient data efficiently, making retrieving and reviewing comprehensive patient histories and treatment plans easier.

Increased healthcare spending in the USA supports expanding and modernizing healthcare facilities. This software is integrated into these upgraded systems to improve documentation efficiency and enhance patient care. As per the American Medical Association, health spending in the U.S. increased by 4.1% in 2022 to $4.5 trillion or $13,493 per capita. Overall, health spending was 17.3% of GDP in 2022. The construction of new healthcare centers and hospitals nationwide drives the demand for advanced documentation tools. Speech recognition software has been adopted to streamline patient record management in these newly established facilities. Thus, rising investments in the healthcare sector in North America will lead to increased demand for medical speech recognition software in the region.

Based on Deployment, the market is segmented into Cloud-based and On-premises. Based on Functionality, the market is segmented into Front-end Speech Recognition, Back-End Speech Recognition, and Voice Command and Control. Based on End Use, the market is segmented into Doctors & Physicians, Radiologists, Medical Transcriptionist, and Other End Use. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

• Amazon Web Services, Inc. (Amazon.com, Inc.)
• IBM Corporation
• Microsoft Corporation
• 3M Company
• Google LLC (Alphabet Inc.)
• Koninklijke Philips N.V.
• DeepScribe Inc.
• Augnito India Pvt. Ltd.
• Deepgram, Inc.
• ScienceSoft USA Corporation

North America Medical Speech Recognition Software Market Report Segmentation

By Deployment

• Cloud-based
• On-premises

By Functionality

• Front-end Speech Recognition
• Back-End Speech Recognition
• Voice Command and Control

By End Use

• Doctors & Physicians
• Radiologists
• Medical Transcriptionist
• Other End Use

By Country

• US
• Canada
• Mexico
• Rest of North America