![]() What are the key data covered in this Medical Transcription Market report?ĬAGR of the market during the forecast periodĭetailed information on factors that will drive the growth of the medical transcription market between 20 Significant Challenges- The increase in concerns over medical data privacy may restrict the market growth.įind more insights on trends and challenges in a sample report! Major Trends- The emergence of voice recognition technologies is a key trend in the market. The demand for automated transcription in medical practices and healthcare facilities is driven by the need for increased accuracy, improved accessibility, time efficiency, and improved patient care. The automation of transcription drives the compilation of patient information in a centralized location. Manual transcriptions have a higher chance of errors, which can create complications when interpreting test results at a later stage.Īutomating the transcription process through speech recognition systems and including medical data in hospital information systems can reduce these risks. This is due to various benefits, such as saving time and increasing the efficiency and effectiveness of the process. The increase in the need for automated transcripts is a key factor driving the market growth. Hence, these factors are expected to drive market growth in the region during the forecast period.įor insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report Furthermore, the healthcare industry in the region is undergoing continuous development, particularly with an increasing emphasis on automating healthcare services and the growing use of advanced reporting methods. The key factor for the market growth in the region is the increase in healthcare IT initiatives. ![]() North America is projected to contribute 38% of growth by 2027. ![]() The report provides actionable insights and estimates the contribution of all regions to the growth of the global medical transcription market. Additionally, greater investments in healthcare and IT will drive advancements in cloud-based platforms and automated speech recognition software.īy geography, the global medical transcription market is segmented into North America, APAC, Europe, South America, and the Middle East and Africa. By adopting advanced and automated technology, hospitals can offer physicians up-to-date patient medical records, resulting in time savings and improved productivity in treating a larger number of patients daily. Hospitals should improve their current IT systems to manage patients' medical records effectively and securely. The market share growth by the hospitals segment will be significant during the forecast period. Technavio has segmented the market based on end-user (hospitals, physician groups, and clinics), and type (services and software) Medical Transcription Market - Segmentation Assessment The company offers medical transcription services such as virtual scribes and LifeLine services.įor details on the vendor and its offerings – Request a sample report and others.ģM Co - The company offers medical transcription services such as modal fluency, modal fluency mobile, and modal fluency flex.Īquity LLC - The company offers medical transcription services such as KLAS and Black Book leading services.Īthreon Corp. Ltd., Med Scribe Inc., Microsoft Corp., Outsource Accelerator Ventures OPC, Pacific Solutions Pty Ltd., Same Day Transcriptions Inc., Savista LLC, TransPerfect Global Inc., VIVA Transcription Corp., and World Wide Dictation Service of New York Inc. Ltd., Global Medical Transcription LLC, iMedX Inc., Lingual Consultancy Services Pvt. ![]() A few prominent vendors that offer medical transcription in the market are 3M Co., Aquity LLC, Athreon Corp., CareCloud Inc., Ditto Transcripts, Excel Transcriptions Inc., Flatworld Solutions Pvt. Vendor Landscape - The medical transcription market is fragmented, with the presence of several global as well as regional vendors. Medical transcription market – Vendor Analysis ![]()
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