Medical Transcription Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2021 to 2027

The Medical Transcription Market has the potential to grow by USD 23.03 billion during 2021-2027, and the market’s growth momentum will decelerate at a CAGR of 6%.

Medical Transcription (MT), also known as medical record, is the process of converting an oral narrative of clinical data into a predefined text or digital format. With advances in technology, hospitals, medical centers, clinics and physicians are choosing MT to optimize operational efficiencies, improve the quality of patient care and minimize capital expenditures. It also helps health care providers maintain patient care and treatment records detailing the results of medical examinations, treatment plans, and related information. Additionally, it helps reduce the burden on staff by eliminating the need to submit patient forms, discharge summaries, and operational and progress records. MT creates a systematic and relevant patient history, allowing doctors to analyze the current physical condition and prepare an ideal treatment plan for the patient.

Market Segments

By Technology:

• Electronic Medical Records/Electronic Health Record (EMR/EHR)
• Picture Archiving and Communication System (PACS)
• Radiology Information System (RIS)
• Speech Recognition Technology (SRT)
• Others

By Service Type:

• History and Physical Report
• Discharge Summary
• Operative Note or Report
• Consultation Report
• Others (Pathology Report, Radiology Report, etc.)

Key Players

Some of the key players being 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, etc.

Scope of the Report

The research study analyzes the global Medical Transcription industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Medical Transcription Market Report

1. What was the Medical Transcription Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).

2. What will be the CAGR of the Medical Transcription Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Medical Transcription Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.