North America Dominates the Global Medical Transcription Services Market Due to Increased Medical Documentation

Medical transcription has extended definitions of healthcare services by enabling physicians and specialty physicians to treat patients across the globe, refer documents in history for special cases and guide for physicians in case of transfer of patient from one physician to another for better treatment.


Albany, NY -- (SBWIRE) -- 12/30/2015 -- Medical transcription (MT) services are those services where healthcare information dictated by healthcare professional is converted into electronic text format by listening to audio recordings. Electronic text format of patient records has enabled reducing paper work and maintenance cost associated with it. Medical transcription software have also eased the data retrieval process and access of the data from any place around the globe. The report, medical transcription services market covers the market analysis for various medical transcription reports offered by medical transcription service providers to end users such as healthcare institutes, clinics, hospitals and other eligible professionals. Medical transcription has greatly increased the volume and quality of healthcare documentation globally. It has also helped in improving healthcare services output and patient care facilities in both developed and developing countries. The stakeholders for medical transcription services market study include market players who provide medical transcription services and develop software used in medical transcription and in recording patient information.

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The global medical transcription services market based on service type is categorized into patient history (H&P), discharge summary (DS), consultation records (CONSULT), operative records (OP), and other diagnostic reports (pathology reports (PATH) & radiology reports (X-rays or radiographs). Medical transcription services market study also further categorizes this market by the modes of procuring these services namely, outsourcing, offshoring and both outsoursing and offshoring at a time. Revenue forecast and market analysis for each segment has been given in this study for the period of 2011 to 2019 in terms of USD million in addition to the compound annual growth rate (CAGR %) for each segment of technology and application. The CAGR is provided for forecast period of 2013 to 2019 and 2012 have been considered as base in year for market size estimation.

The market overview section of medical transcription services report demonstrates the details of the market dynamics and market trends such as the market drivers, market restraints and market opportunities that influence the current nature and future status of medical transcription industry. Impact factors such as market attractiveness analysis and Porter's five forces analysis (bargaining power of suppliers, bargaining power of buyers, threat of new entrants, threat of substitutes and degree of competitive rivalry) have also been explained in the market overview section of medical transcription services market report in order to give a thorough analysis of the overall competitive scenario in the global medical transcription services market.

In terms of geographical distribution, the global medical transcription services market has been classified into four geographical areas, namely North America, Europe, Asia-Pacific and Rest of the World (RoW). This report also provides the present and future market estimation in terms of USD million for the period 2011 to 2019, in addition to compound annual growth rate (CAGR %) for each geographic area. The study further offers recommendations which includes market strategy for success and highlights the key barriers that exist in the medical transcription services market, which would be useful for the current and future market players to sustain and grow in the global medical transcription services market.

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Medical transcription services market report concludes with the company profiles section that includes key information about the major players in medical transcription market. Key information such as company overview, financial overview, business strategies and recent developments about the top market players operating in the global medical transcription services market is provided in the company profiles section of this report. Some of the key players profiled in medical transcription services market report include Nuance Communications, Inc., MModal, Inc., Acusis, LLC, Transcend Services, Inc., TransTech Medical Solutions, Precyse Solutions LLC, iMedX Information Services Pvt. Ltd. and others.

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