Medical Speech Recognition Software Market Growth, Size, Trends Analysis- By Deployment, By Functionality, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
Medical Speech Recognition Software Market Introduction and Overview
According to SPER Market Research, ‘Global Medical Speech Recognition Software Market Size- By Deployment, By Functionality, By End Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Medical Speech Recognition Software Market is predicted to reach 4.48 billion by 2033 with a CAGR of 11.41%.
Medical transcription software is a dedicated tool designed to transform audio recordings of medical reports, dictated by healthcare professionals, into written documents. These systems can efficiently transcribe medical notes, patient histories, and other clinical documentation by using speech recognition technology, natural language processing, and, in certain cases, machine learning techniques. This automation reduces the effort of medical transcriptionists and reduces errors as compared to manual transcribe. Medical transcription software connects with electronic health record (EHR) systems and other medical documentation tools to help expedite workflows.
Impact of COVID-19: The expansion of the worldwide market for medical transcription software was positively impacted by the COVID-19 pandemic. During the COVID-19 epidemic, a sudden surge in the need for telemedicine services accelerated the use of transcription software in medical facilities. The use of telemedicine and Electronic Health Records (EHR) increased as a result of this situation. Timely and accurate disease diagnosis was the main advantage of these items. These elements helped the market expand during the pandemic.
Scope of the report:
Report Metric Details
Market size available for years 2020-2033
Base year considered 2023
Forecast period 2024-2033
Segments covered By Deployment, By Functionality, By End User
Regions covered
North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
Companies Covered
Nuance Communications, Inc; Amazon Web Services (AWS); 3M Health Information Systems; IBM Watson Health; Microsoft Corporation; DeepScribe; Augnito; Deepgram; ScienceSoft; PrognoCIS.
Medical Speech Recognition Software Market Segmentation:
By Deployment:Based on the Deployment, Global Medical Speech Recognition Software Market is segmented as; Cloud-based, On-premises.
By Functionality:Based on the Functionality, Global Medical Speech Recognition Software Market is segmented as; Front-end Speech Recognition, Back-end Speech Recognition, Voice Command and Control.
By End User:Based on the End Use, Global Medical Speech Recognition Software Market is segmented as; Doctors & Physicians, Radiologists, Medical Transcriptionist.
By Region:This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
- 1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
- 2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPER’s internal database
- 2.1.4. Premium insight from KOL’s
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
- 3. Executive Summary
- 4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
- 4.2. COVID-19 Impacts of the Global Medical Speech Recognition Software Market.
- 5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTER’s Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
- 6. Competitive Landscape
- 6.1. Global Medical Speech Recognition Software Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Medical Speech Recognition Software Market
- 7. Global Medical Speech Recognition Software Market, By Deployment (USD Million) 2020-2033
- 7.1. Global Medical Speech Recognition Software Market Size, Share and Forecast, By Deployment, 2020-2026
- 7.2. Global Medical Speech Recognition Software Market Size, Share and Forecast, By Deployment, 2027-2033
- 7.3. Cloud-based
- 7.4. On-premises
- 8. Global Medical Speech Recognition Software Market, By Functionality (USD Million) 2020-2033
- 8.1. Global Medical Speech Recognition Software Market Size, Share and Forecast, By Functionality, 2020-2026
- 8.2. Global Medical Speech Recognition Software Market Size, Share and Forecast, By Functionality, 2027-2033
- 8.3. Front-end Speech Recognition
- 8.4. Back-end Speech Recognition
- 8.5. Voice Command and Control
- 9. Global Medical Speech Recognition Software Market, By End Use (USD Million) 2020-2033
- 9.1. Global Medical Speech Recognition Software Market Size, Share and Forecast, By End Use, 2020-2026
- 9.2. Global Medical Speech Recognition Software Market Size, Share and Forecast, By End Use, 2027-2033
- 9.3. Doctors & Physicians
- 9.4. Radiologists
- 9.5. Medical Transcriptionist
- 9.6. Others
- 10. Global Medical Speech Recognition Software Market Forecast, 2020-2033 (USD Million)
- 10.1. Global Medical Speech Recognition Software Market Size and Market Share
- 11. Global Medical Speech Recognition Software Market, By Region, 2020-2033 (USD Million)
- 11.1. Global Medical Speech Recognition Software Market Size and Market Share By Region (2020-2026)
- 11.2. Global Medical Speech Recognition Software Market Size and Market Share By Region (2027-2033)
- 11.3. Asia-Pacific
- 11.3.1. Australia
- 11.3.2. China
- 11.3.3. India
- 11.3.4. Japan
- 11.3.5. South Korea
- 11.3.6. Rest of Asia-Pacific
- 11.4. Europe
- 11.4.1. France
- 11.4.2. Germany
- 11.4.3. Italy
- 11.4.4. Spain
- 11.4.5. United Kingdom
- 11.4.6. Rest of Europe
- 11.5. Middle East and Africa
- 11.5.1. Kingdom of Saudi Arabia
- 11.5.2. United Arab Emirates
- 11.5.3. Qatar
- 11.5.4. South Africa
- 11.5.5. Egypt
- 11.5.6. Morocco
- 11.5.7. Nigeria
- 11.5.8. Rest of Middle-East and Africa
- 11.6. North America
- 11.6.1. Canada
- 11.6.2. Mexico
- 11.6.3. United States
- 11.7. Latin America
- 11.7.1. Argentina
- 11.7.2. Brazil
- 11.7.3. Rest of Latin America
- 12. Company Profile
- 12.1. Nuance Communications, Inc
- 12.1.1. Company details
- 12.1.2. Financial outlook
- 12.1.3. Product summary
- 12.1.4. Recent developments
- 12.2. Amazon Web Services (AWS)
- 12.2.1. Company details
- 12.2.2. Financial outlook
- 12.2.3. Product summary
- 12.2.4. Recent developments
- 12.3. 3M Health Information Systems
- 12.3.1. Company details
- 12.3.2. Financial outlook
- 12.3.3. Product summary
- 12.3.4. Recent developments
- 12.4. IBM Watson Health
- 12.4.1. Company details
- 12.4.2. Financial outlook
- 12.4.3. Product summary
- 12.4.4. Recent developments
- 12.5. Microsoft Corporation
- 12.5.1. Company details
- 12.5.2. Financial outlook
- 12.5.3. Product summary
- 12.5.4. Recent developments
- 12.6. DeepScribe
- 12.6.1. Company details
- 12.6.2. Financial outlook
- 12.6.3. Product summary
- 12.6.4. Recent developments
- 12.7. Augnito
- 12.7.1. Company details
- 12.7.2. Financial outlook
- 12.7.3. Product summary
- 12.7.4. Recent developments
- 12.8. Deepgram
- 12.8.1. Company details
- 12.8.2. Financial outlook
- 12.8.3. Product summary
- 12.8.4. Recent developments
- 12.9. ScienceSoft
- 12.9.1. Company details
- 12.9.2. Financial outlook
- 12.9.3. Product summary
- 12.9.4. Recent developments
- 12.10. PrognoCIS
- 12.10.1. Company details
- 12.10.2. Financial outlook
- 12.10.3. Product summary
- 12.10.4. Recent developments
- 12.11. Others
- 13. Conclusion
- 14. List of Abbreviations
- 15. Reference Links
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