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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.
Scope of the Report:
North America is the largest consumption place, with a consumption market share nearly 78.3% in 2017. North America currently dominates and is expected to retain its position in the medical transcription services market in the future. Growth drivers for this market in North America are factors such as rise in aging population and passing of Patient Protection and Affordable Healthcare Act, 2013.
The global Medical Transcription Services market is valued at 5000 million USD in 2018 and is expected to reach 6900 million USD by the end of 2024, growing at a CAGR of 5.5% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Medical Transcription Services.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Medical Transcription Services market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Medical Transcription Services market by product type and applications/end industries.
Market Segment by Companies, this report covers
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 Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Outsourcing
Offshoring
Market Segment by Applications, can be divided into
Hospitals
Clinical Laboratories
Academic Medical Centers
Other
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
Table of Contents
1 Medical Transcription Services Market Overview
1.1 Product Overview and Scope of Medical Transcription Services
1.2 Classification of Medical Transcription Services by Types
1.2.1 Global Medical Transcription Services Revenue Comparison by Types (2019-2024)
1.2.2 Global Medical Transcription Services Revenue Market Share by Types in 2018
1.2.3 Outsourcing
1.2.4 Offshoring
1.3 Global Medical Transcription Services Market by Application
1.3.1 Global Medical Transcription Services Market Size and Market Share Comparison by Applications (2014-2024)
1.3.2 Hospitals
1.3.3 Clinical Laboratories
1.3.4 Academic Medical Centers
1.3.5 Other
1.4 Global Medical Transcription Services Market by Regions
1.4.1 Global Medical Transcription Services Market Size (Million USD) Comparison by Regions (2014-2024)
1.4.1 North America (USA, Canada and Mexico) Medical Transcription Services Status and Prospect (2014-2024)
1.4.2 Europe (Germany, France, UK, Russia and Italy) Medical Transcription Services Status and Prospect (2014-2024)
1.4.3 Asia-Pacific (China, Japan, Korea, India and Southeast Asia) Medical Transcription Services Status and Prospect (2014-2024)
1.4.4 South America (Brazil, Argentina, Colombia) Medical Transcription Services Status and Prospect (2014-2024)
1.4.5 Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa) Medical Transcription Services Status and Prospect (2014-2024)
1.5 Global Market Size of Medical Transcription Services (2014-2024)
2 Manufacturers Profiles
2.1 Mmodal
2.1.1 Business Overview
2.1.2 Medical Transcription Services Type and Applications
2.1.2.1 Product A
2.1.2.2 Product B
2.1.3 Mmodal Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.2 Nuance Communications
2.2.1 Business Overview
2.2.2 Medical Transcription Services Type and Applications
2.2.2.1 Product A
2.2.2.2 Product B
2.2.3 Nuance Communications Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.3 Transcend Services
2.3.1 Business Overview
2.3.2 Medical Transcription Services Type and Applications
2.3.2.1 Product A
2.3.2.2 Product B
2.3.3 Transcend Services Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.4 Acusis
2.4.1 Business Overview
2.4.2 Medical Transcription Services Type and Applications
2.4.2.1 Product A
2.4.2.2 Product B
2.4.3 Acusis Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.5 iMedX Information Services
2.5.1 Business Overview
2.5.2 Medical Transcription Services Type and Applications
2.5.2.1 Product A
2.5.2.2 Product B
2.5.3 iMedX Information Services Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.6 MTBC
2.6.1 Business Overview
2.6.2 Medical Transcription Services Type and Applications
2.6.2.1 Product A
2.6.2.2 Product B
2.6.3 MTBC Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.7 nThrive
2.7.1 Business Overview
2.7.2 Medical Transcription Services Type and Applications
2.7.2.1 Product A
2.7.2.2 Product B
2.7.3 nThrive Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.8 Medi-Script Plus
2.8.1 Business Overview
2.8.2 Medical Transcription Services Type and Applications
2.8.2.1 Product A
2.8.2.2 Product B
2.8.3 Medi-Script Plus Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.9 Outsource2india
2.9.1 Business Overview
2.9.2 Medical Transcription Services Type and Applications
2.9.2.1 Product A
2.9.2.2 Product B
2.9.3 Outsource2india Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.10 TransPerfect
2.10.1 Business Overview
2.10.2 Medical Transcription Services Type and Applications
2.10.2.1 Product A
2.10.2.2 Product B
2.10.3 TransPerfect Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.11 VIVA Transcription
2.11.1 Business Overview
2.11.2 Medical Transcription Services Type and Applications
2.11.2.1 Product A
2.11.2.2 Product B
2.11.3 VIVA Transcription Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.12 Medscribe
2.12.1 Business Overview
2.12.2 Medical Transcription Services Type and Applications
2.12.2.1 Product A
2.12.2.2 Product B
2.12.3 Medscribe Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.13 Pacific Solutions
2.13.1 Business Overview
2.13.2 Medical Transcription Services Type and Applications
2.13.2.1 Product A
2.13.2.2 Product B
2.13.3 Pacific Solutions Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.14 Same Day transcriptions
2.14.1 Business Overview
2.14.2 Medical Transcription Services Type and Applications
2.14.2.1 Product A
2.14.2.2 Product B
2.14.3 Same Day transcriptions Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.15 DoctorDocs
2.15.1 Business Overview
2.15.2 Medical Transcription Services Type and Applications
2.15.2.1 Product A
2.15.2.2 Product B
2.15.3 DoctorDocs Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.16 World Wide Dictation
2.16.1 Business Overview
2.16.2 Medical Transcription Services Type and Applications
2.16.2.1 Product A
2.16.2.2 Product B
2.16.3 World Wide Dictation Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.17 Athreon
2.17.1 Business Overview
2.17.2 Medical Transcription Services Type and Applications
2.17.2.1 Product A
2.17.2.2 Product B
2.17.3 Athreon Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.18 BVS Transtech
2.18.1 Business Overview
2.18.2 Medical Transcription Services Type and Applications
2.18.2.1 Product A
2.18.2.2 Product B
2.18.3 BVS Transtech Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.19 Excel Transcriptions
2.19.1 Business Overview
2.19.2 Medical Transcription Services Type and Applications
2.19.2.1 Product A
2.19.2.2 Product B
2.19.3 Excel Transcriptions Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.20 GMT
2.20.1 Business Overview
2.20.2 Medical Transcription Services Type and Applications
2.20.2.1 Product A
2.20.2.2 Product B
2.20.3 GMT Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
2.21 LC Transcription Services
2.21.1 Business Overview
2.2.2 Medical Transcription Services Type and Applications
2.21.2.1 Product A
2.21.2.2 Product B
2.21.3 LC Transcription Services Medical Transcription Services Revenue, Gross Margin and Market Share (2017-2018)
3 Global Medical Transcription Services Market Competition, by Players
3.1 Global Medical Transcription Services Revenue and Share by Players (2014-2019)
3.2 Market Concentration Rate
3.2.1 Top 5 Medical Transcription Services Players Market Share
3.2.2 Top 10 Medical Transcription Services Players Market Share
3.3 Market Competition Trend
4 Global Medical Transcription Services Market Size by Regions
4.1 Global Medical Transcription Services Revenue and Market Share by Regions
4.2 North America Medical Transcription Services Revenue and Growth Rate (2014-2019)
4.3 Europe Medical Transcription Services Revenue and Growth Rate (2014-2019)
4.4 Asia-Pacific Medical Transcription Services Revenue and Growth Rate (2014-2019)
4.5 South America Medical Transcription Services Revenue and Growth Rate (2014-2019)
4.6 Middle East and Africa Medical Transcription Services Revenue and Growth Rate (2014-2019)
5 North America Medical Transcription Services Revenue by Countries
5.1 North America Medical Transcription Services Revenue by Countries (2014-2019)
5.2 USA Medical Transcription Services Revenue and Growth Rate (2014-2019)
5.3 Canada Medical Transcription Services Revenue and Growth Rate (2014-2019)
5.4 Mexico Medical Transcription Services Revenue and Growth Rate (2014-2019)
6 Europe Medical Transcription Services Revenue by Countries
6.1 Europe Medical Transcription Services Revenue by Countries (2014-2019)
6.2 Germany Medical Transcription Services Revenue and Growth Rate (2014-2019)
6.3 UK Medical Transcription Services Revenue and Growth Rate (2014-2019)
6.4 France Medical Transcription Services Revenue and Growth Rate (2014-2019)
6.5 Russia Medical Transcription Services Revenue and Growth Rate (2014-2019)
6.6 Italy Medical Transcription Services Revenue and Growth Rate (2014-2019)
7 Asia-Pacific Medical Transcription Services Revenue by Countries
7.1 Asia-Pacific Medical Transcription Services Revenue by Countries (2014-2019)
7.2 China Medical Transcription Services Revenue and Growth Rate (2014-2019)
7.3 Japan Medical Transcription Services Revenue and Growth Rate (2014-2019)
7.4 Korea Medical Transcription Services Revenue and Growth Rate (2014-2019)
7.5 India Medical Transcription Services Revenue and Growth Rate (2014-2019)
7.6 Southeast Asia Medical Transcription Services Revenue and Growth Rate (2014-2019)
8 South America Medical Transcription Services Revenue by Countries
8.1 South America Medical Transcription Services Revenue by Countries (2014-2019)
8.2 Brazil Medical Transcription Services Revenue and Growth Rate (2014-2019)
8.3 Argentina Medical Transcription Services Revenue and Growth Rate (2014-2019)
8.4 Colombia Medical Transcription Services Revenue and Growth Rate (2014-2019)
9 Middle East and Africa Revenue Medical Transcription Services by Countries
9.1 Middle East and Africa Medical Transcription Services Revenue by Countries (2014-2019)
9.2 Saudi Arabia Medical Transcription Services Revenue and Growth Rate (2014-2019)
9.3 UAE Medical Transcription Services Revenue and Growth Rate (2014-2019)
9.4 Egypt Medical Transcription Services Revenue and Growth Rate (2014-2019)
9.5 Nigeria Medical Transcription Services Revenue and Growth Rate (2014-2019)
9.6 South Africa Medical Transcription Services Revenue and Growth Rate (2014-2019)
10 Global Medical Transcription Services Market Segment by Type
10.1 Global Medical Transcription Services Revenue and Market Share by Type (2014-2019)
10.2 Global Medical Transcription Services Market Forecast by Type (2019-2024)
10.3 Outsourcing Revenue Growth Rate (2014-2024)
10.4 Offshoring Revenue Growth Rate (2014-2024)
11 Global Medical Transcription Services Market Segment by Application
11.1 Global Medical Transcription Services Revenue Market Share by Application (2014-2019)
11.2 Medical Transcription Services Market Forecast by Application (2019-2024)
11.3 Hospitals Revenue Growth (2014-2019)
11.4 Clinical Laboratories Revenue Growth (2014-2019)
11.5 Academic Medical Centers Revenue Growth (2014-2019)
11.6 Other Revenue Growth (2014-2019)
12 Global Medical Transcription Services Market Size Forecast (2019-2024)
12.1 Global Medical Transcription Services Market Size Forecast (2019-2024)
12.2 Global Medical Transcription Services Market Forecast by Regions (2019-2024)
12.3 North America Medical Transcription Services Revenue Market Forecast (2019-2024)
12.4 Europe Medical Transcription Services Revenue Market Forecast (2019-2024)
12.5 Asia-Pacific Medical Transcription Services Revenue Market Forecast (2019-2024)
12.6 South America Medical Transcription Services Revenue Market Forecast (2019-2024)
12.7 Middle East and Africa Medical Transcription Services Revenue Market Forecast (2019-2024)
13 Research Findings and Conclusion
14 Appendix
14.1 Methodology
14.2 Data Source
List of Tables and Figures
Figure Medical Transcription Services Picture
Table Product Specifications of Medical Transcription Services
Table Global Medical Transcription Services and Revenue (Millio
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