Global Medical Transcription Market, By Services Type (History and Physical Report, Discharge Summary, Operative Note or Report, Consultation Report, Pathology Report, Radiology Report, and Others), Technology (Electronic Medical Records/Electronic Health Record (EMR/EHR), Picture Archiving and Communication System (PACS), Radiology Information System (RIS), Speech Recognition Technology (SRT), and Others), Mode of Procurement (Outsourcing, Offshoring, Both), End User (Hospitals, Clinics, Clinical Laboratories, Academic Medical Centers, and Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2027
Medical transcription market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market growing at a CAGR of 6.0% in the above-mentioned forecast period.
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The major players covered in the medical transcription market report are Acusis LLC, Transcend Services, Nuance Communications, Inc., MModal LLC, iMedX, Inc., Global Medical Transcription LLC, nThrive, Inc., MTBC, Inc., Medi-Script Plus, TransTech Medical Solutions LLC, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Competitive Landscape and Medical Transcription Market Share Analysis
Medical transcription market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to medical transcription market.
The rising pervasiveness of different persistent disorders, such as melanoma, cardiovascular, and, diabetes disorders, has constantly influenced an augmentation in the number of medicinal documents produced in clinics. The burgeoning information amidst businesses regarding the compensations of electronic health records in maintaining data is possessing an assertive influence on the market crosswise the planet. Apart from this, companies have begun accepting the most advanced technologies, such as, instant report formatting, audio identification, and ADT normalization, that can convert the translation of voice-based documents into text-based automated data. Certain techniques benefit in diminishing the time needed for transcription and heighten the overall precision. Furthermore, with the accumulating uncertainty of administration or fraud of medicinal information acts as the restraint for the market growth. The advanced organizations have launched superior encryption technologies which will act as the opportunity for market growth.
This medical transcription market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.
Global Medical Transcription Market Scope and Market Size
Medical transcription market is segmented on the basis of services type, technology, mode of procurement and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Medical transcription market is segmented on the basis of services type into history and physical report, discharge summary, operative note or report, consultation report, pathology report, radiology report, and others.
- Medical transcription market is segmented on the basis of technology into electronic medical records/electronic health record (EMR/EHR), picture archiving and communication system (PACS), radiology information system (RIS), speech recognition technology (SRT), and others.
- Medical transcription market is segmented on the basis of mode of procurement into outsourcing, offshoring, and both.
- Medical transcription market is segmented on the basis of end user into hospitals, clinics, clinical laboratories, academic medical centers, and others.
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Medical Transcription Market Country Level Analysis
Medical transcription market is analysed and market size insights and trends are provided by country, services type, technology, mode of procurement and end user as referenced above.
The countries covered in the medical transcription market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to offer lucrative market growth in terms of volume and revenue due to the strong healthcare IT infrastructure and market players penetration in the anticipated period of 2020 to 2027.
The country section of the medical transcription market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Medical transcription market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical transcription market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical transcription market. The data is available for historic period 2010 to 2018.
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