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Medical Transcription Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The global medical transcription market is expected to grow at a CAGR of around 5% during 2019-2024. Medical transcription (MT), also known as healthcare documentation, is the process of converting verbal dictations of clinical data into pre-defined text or digital format. With the advancement in technology, hospitals, healthcare centers, clinics and physicians are opting for MT to optimize operational efficiency, improve quality of patient care and minimize capital expenditure. It also helps the healthcare providers to maintain patient care and treatment records detailing medical examination findings, treatment plans and relevant information. Besides this, it aids in reducing staff burden by eliminating the need to file patient forms, discharge summaries, and operation and progress notes. MT creates an organized and appropriate patient history, which enables the doctors in analyzing the current physical condition and prepare an ideal treatment plan for the patient.

Global Medical Transcription Market Report

There has been a rise in the prevalence of various chronic diseases, such as cancer, diabetes and cardiovascular diseases, which has consequently led to an increase in the number of medical records generated in hospitals. Along with this, the growing awareness among enterprises about the benefits of electronic health records (EHR) in streamlining information is having a positive impact on the MT market across the globe. Besides this, manufacturers have started leveraging latest technologies, such as ADT normalization, instantaneous document formatting and voice recognition that can automate the conversion of voice-based records into text-based electronic files. These technologies aid in reducing the time required for transcription as well as enhance the overall accuracy. Moreover, with the increasing risk of manipulation or theft of medical data or information, the leading companies have introduced high-end encryption technologies, data security mechanisms, and end-to-end secure processes for the exchange of information.

IMARC Group’s latest report provides a deep insight into the global medical transcription market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. 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 market in any manner.

Report Coverage:

  • Historical, Current and Future Market Trends
     
  • Market Breakup by Service Type:
    • History and Physical Report
    • Discharge Summary
    • Operative Note or Report
    • Consultation Report
    • Others (Pathology Report, Radiology Report, etc.)
       
  • Market Breakup by Technology:
    • EMR/EHR
    • PACS
    • RIS
    • SRT
    • Others
       
  • Market Breakup by Mode of Procurement:
    • Outsourcing
    • Offshoring
    • Both
       
  • Market Breakup by End User:
    • Hospitals
    • Clinics
    • Clinical Laboratories
    • Academic Medical Centers
    • Others
       
  • Market Breakup by Region:
    • North America
    • Europe
    • Asia Pacific
    • Middle East and Africa
    • Latin America
       

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being Acusis, Transcend Services, Naunce Communications, MModal, iMedX Information Services, Global Medical Transcription, nThrive, MTBC, Medi-Script Plus, Transtech Medical Solutions, etc.

Key Questions Answered in This Report:

  • How has the global medical transcription market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global medical transcription industry?
  • What is the breakup of the market based on the service type?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the mode of procurement?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the global medical transcription industry?
  • What are the key driving factors and challenges in the global medical transcription industry?
  • What is the structure of the global medical transcription industry and who are the key players?
  • What is the degree of competition in the global medical transcription industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Medical Transcription Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Service Type
    5.4    Market Breakup by Technology
    5.5    Market Breakup by Mode of Procurement
    5.6    Market Breakup by End User
    5.7    Market Breakup by Region
    5.8    Market Forecast
6    Market Breakup by Service Type
    6.1    History and Physical Report
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Discharge Summary
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Operative Note or Report
        6.3.1    Market Trends
        6.3.2    Market Forecast
    6.4    Consultation Report
        6.4.1    Market Trends
        6.4.2    Market Forecast
    6.5    Others
        6.5.1    Market Trends
        6.5.2    Market Forecast
7    Market Breakup by Technology
    7.1    EMR/EHR
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    PACS
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    RIS
        7.3.1    Market Trends
        7.3.2    Market Forecast
    7.4    SRT
        7.4.1    Market Trends
        7.4.2    Market Forecast
    7.5    Others
        7.5.1    Market Trends
        7.5.2    Market Forecast
8    Market Breakup by Mode of Procurement
    8.1    Outsourcing
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Offshoring
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Both
        8.3.1    Market Trends
        8.3.2    Market Forecast
9    Market Breakup by End User
    9.1    Hospitals
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Clinics
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Clinical Laboratories
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Academic Medical Centers
        9.4.1    Market Trends
        9.4.2    Market Forecast
    9.5    Others
        9.5.1    Market Trends
        9.5.2    Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    Europe
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Asia Pacific
        10.3.1    Market Trends
        10.3.2    Market Forecast
    10.4    Middle East and Africa
        10.4.1    Market Trends
        10.4.2    Market Forecast
    10.5    Latin America
        10.5.1    Market Trends
        10.5.2    Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porter’s Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Acusis
        15.3.2    Transcend Services
        15.3.3    Naunce Communications
        15.3.4    MModal
        15.3.5    iMedX Information Services
        15.3.6    Global Medical Transcription
        15.3.7    nThrive
        15.3.8    MTBC
        15.3.9    Medi-Script Plus
        15.3.10     Transtech Medical Solutions

List of Figures

Figure 1: Global: Medical Transcription Market: Major Drivers and Challenges
Figure 2: Global: Medical Transcription Market: Sales Value (in Billion US$), 2013-2018
Figure 3: Global: Medical Transcription Market: Breakup by Service Type (in %), 2018
Figure 4: Global: Medical Transcription Market: Breakup by Technology (in %), 2018
Figure 5: Global: Medical Transcription Market: Breakup by Mode of Procurement (in %), 2018
Figure 6: Global: Medical Transcription Market: Breakup by End User (in %), 2018
Figure 7: Global: Medical Transcription Market: Breakup by Region (in %), 2018
Figure 8: Global: Medical Transcription Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 9: Global: Medical Transcription Industry: SWOT Analysis
Figure 10: Global: Medical Transcription Industry: Value Chain Analysis
Figure 11: Global: Medical Transcription Industry: Porter’s Five Forces Analysis
Figure 12: Global: Medical Transcription (History and Physical Report) Market: Sales Value (in Million US$), 2013 & 2018
Figure 13: Global: Medical Transcription (History and Physical Report) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 14: Global: Medical Transcription (Discharge Summary) Market: Sales Value (in Million US$), 2013 & 2018
Figure 15: Global: Medical Transcription (Discharge Summary) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 16: Global: Medical Transcription (Operative Note or Report) Market: Sales Value (in Million US$), 2013 & 2018
Figure 17: Global: Medical Transcription (Operative Note or Report) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 18: Global: Medical Transcription (Consultation Report) Market: Sales Value (in Million US$), 2013 & 2018
Figure 19: Global: Medical Transcription (Consultation Report) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 20: Global: Medical Transcription (Other Service Types) Market: Sales Value (in Million US$), 2013 & 2018
Figure 21: Global: Medical Transcription (Other Service Types) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 22: Global: Medical Transcription (EMR/EHR) Market: Sales Value (in Million US$), 2013 & 2018
Figure 23: Global: Medical Transcription (EMR/EHR) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 24: Global: Medical Transcription (PACS) Market: Sales Value (in Million US$), 2013 & 2018
Figure 25: Global: Medical Transcription (PACS) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 26: Global: Medical Transcription (RIS) Market: Sales Value (in Million US$), 2013 & 2018
Figure 27: Global: Medical Transcription (RIS) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 28: Global: Medical Transcription (SRT) Market: Sales Value (in Million US$), 2013 & 2018
Figure 29: Global: Medical Transcription (SRT) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 30: Global: Medical Transcription (Other Technologies) Market: Sales Value (in Million US$), 2013 & 2018
Figure 31: Global: Medical Transcription (Other Technologies) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 32: Global: Medical Transcription (Outsourcing) Market: Sales Value (in Million US$), 2013 & 2018
Figure 33: Global: Medical Transcription (Outsourcing) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 34: Global: Medical Transcription (Offshoring) Market: Sales Value (in Million US$), 2013 & 2018
Figure 35: Global: Medical Transcription (Offshoring) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 36: Global: Medical Transcription (Both) Market: Sales Value (in Million US$), 2013 & 2018
Figure 37: Global: Medical Transcription (Both) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 38: Global: Medical Transcription (Hospitals) Market: Sales Value (in Million US$), 2013 & 2018
Figure 39: Global: Medical Transcription (Hospitals) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 40: Global: Medical Transcription (Clinics) Market: Sales Value (in Million US$), 2013 & 2018
Figure 41: Global: Medical Transcription (Clinics) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 42: Global: Medical Transcription (Clinical Laboratories) Market: Sales Value (in Million US$), 2013 & 2018
Figure 43: Global: Medical Transcription (Clinical Laboratories) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 44: Global: Medical Transcription (Academic Medical Centers) Market: Sales Value (in Million US$), 2013 & 2018
Figure 45: Global: Medical Transcription (Academic Medical Centers) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 46: Global: Medical Transcription (Other End-Users) Market: Sales Value (in Million US$), 2013 & 2018
Figure 47: Global: Medical Transcription (Other End-Users) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 48: North America: Medical Transcription Market: Sales Value (in Million US$), 2013 & 2018
Figure 49: North America: Medical Transcription Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 50: Europe: Medical Transcription Market: Sales Value (in Million US$), 2013 & 2018
Figure 51: Europe: Medical Transcription Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 52: Asia Pacific: Medical Transcription Market: Sales Value (in Million US$), 2013 & 2018
Figure 53: Asia Pacific: Medical Transcription Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 54: Middle East and Africa: Medical Transcription Market: Sales Value (in Million US$), 2013 & 2018
Figure 55: Middle East and Africa: Medical Transcription Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 56: Latin America: Medical Transcription Market: Sales Value (in Million US$), 2013 & 2018
Figure 57: Latin America: Medical Transcription Market Forecast: Sales Value (in Million US$), 2019-2024

List of Tables

Table 1: Global: Medical Transcription Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Medical Transcription Market Forecast: Breakup by Service Type (in Million US$), 2019-2024
Table 3: Global: Medical Transcription Market Forecast: Breakup by Technology (in Million US$), 2019-2024
Table 4: Global: Medical Transcription Market Forecast: Breakup by Mode of Procurement (in Million US$), 2019-2024
Table 5: Global: Medical Transcription Market Forecast: Breakup by End User (in Million US$), 2019-2024
Table 6: Global: Medical Transcription Market Forecast: Breakup by Region (in Million US$), 2019-2024
Table 7: Global: Medical Transcription Market Structure
Table 8: Global: Medical Transcription Market: Key Players

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