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MEDICAL TRANSCRIPTION SERVICES

Global Market Trajectory & Analytics

MCP-1752

VALIDATED EXECUTIVE ENGAGEMENTS

POOL + OUTREACH

473
Number of executives repeatedly engaged by snail & email outreach

INTERACTIONS

93
Interactions with Platform & by Email

PARTICIPANTS

19
Unique # Participated

VALIDATIONS

9
Responses Validated*
* Login to view program details and full enterprise executive list.

DATE

JULY 2020

TABLES

60

PAGES

193

EDITION

16

PRICE

USD $5450


Amid the COVID-19 crisis, the global market for Medical Transcription Services estimated at US$52.2 Billion in the year 2020, is projected to reach a revised size of US$69.8 Billion by 2027, growing at a CAGR of 4.2% over the analysis period 2020-2027. Consultation Reports, one of the segments analyzed in the report, is projected to record a 2.8% CAGR and reach US$23.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the History & Physical Reports segment is readjusted to a revised 5.6% CAGR for the next 7-year period.
The Medical Transcription Services market in the U.S. is estimated at US$15.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$12.4 Billion by the year 2027 trailing a CAGR of 4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 3.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.
In the global Operative Reports segment, USA, Canada, Japan, China and Europe will drive the 4.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$6.4 Billion in the year 2020 will reach a projected size of US$8.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$8.1 Billion by the year 2027.We bring years of research experience to this 16th edition of our report. The 193-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Acusis India; Audio Dicta Transcription Corporation (ADTC); iMedX Inc.; M*Modal IP LLC; Medical Transcription Services; Nuance Communications, Inc.; TopTrans Company; Total Transcription Solutions, Inc.; TransDyne; TransTech Medical Solutions; Vennar Soft Inc.
» Service Segment (Consultation Reports, History & Physical Reports, Operative Reports, Other Service Segments)
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » and Rest of Europe » Asia-Pacific » Rest of World

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05
1. MARKET OVERVIEW
At A Glance
Recent Market Activity
Preface
Transcription Services - Critical Component in Government and Industrial Sectors
Medical Transcription Services - Benchmark vs. Need
MT Services and its Benefits to Healthcare Professionals
Medical Transcription - Marching Ahead amid Technologically Advanced and Automated Environment
Embracing Innovative and Latest Technologies
Current and Future Analysis
US - The Largest Market
Globalization and Medical Transcription
Emergence of New Supply Markets in Eastern Europe and South America
MT Industry Remains Unscathed from Economic Recession
Hospitals Favor MT Services as Market Conditions Toughen
Favorable Economic Trends Positively Influence MT Services Market
Global Competitor Market Shares
Medical Transcription Services Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
Acusis India (India)
Audio Dicta Transcription Services (USA)
Care Technologies India Private Ltd. (India)
eTransMed, LLC (USA)
iMedX Inc. (USA)
M*Modal IP LLC (USA)
Medical Transcription Services (USA)
Nuance Communications, Inc. (USA)
TopTrans Company (Philippines)
Total Transcription Solutions, Inc. (Philippines)
TransDyne (India)
TransTech Medical Solutions (USA)
Vennar Soft Inc. (USA)
3. MARKET TRENDS & DRIVERS
Positive Outlook for the Healthcare Industry - Key Growth Indicator
Outsourcing Gathers Steam
Sourcing Strategy/Model: Means to Achieve Business Process
Sole Sourcing - A Model for Increasing Operational Efficiency
Radiology Services Offer Lucrative Outsourcing Prospects
In-house Vis-a-Vis Outsourcing
Offshoring Gains Traction
Off-shoring to Drive Cost-Effectiveness
A Brief Sketch of Major Outsourcing Destinations
India
Philippines
Nearshoring Finds Favor among Businesses
The Debate on Voice Recognition Technology Continues
Speech Recognition Technology - Impact on Medical, Legal and General Transcription
Front-End Solution Application Still in Nascent Stage
Speech Recognition Editing Services Gain Momentum
Advancements Revolutionize MT
MT: No Longer the Lone Choice for Creation of Medical Records
Is EMR System Really a Threat for MT Services?
ICD-11: Boon or Bane?
Gradual Shift to "VBC" based Pricing Model
Aging Population - A Vital Demography
Preventive Healthcare Trend Offers Potential
Advantages of Medical Transcription Drives Demand
Advanced Technologies to the Rescue
Robotic Automation Makes In Roads in BPO Industry
Social Networking Trend Transforms Business Strategies
Growth of Internet-Centered Technologies
Faster Adoption of Cloud-Based Medical Transcription Services
BPO Providers Warm up to Green Computing
Medical Transcription Outsourcing - A Review
Reasons for Outsourcing MT Services
Outsourced MT Services
Advantages of MT Outsourcing
Drawbacks of Outsourcing MT Services
Medical Transcription Offshoring
Offshoring - A Lucrative Option to Curb Business Expenses
Offshoring Barriers
Developing Nations - A Haven for MT Outsourcing Services
INNOVATIONS AND TECHNOLOGICAL ADVANCEMENTS
Digital Technology and Medical Transcription
Adoption of New EHR System
Speech Recognition Technology for the MT Services Market
AI and Voice Transcription
4. GLOBAL MARKET PERSPECTIVE
Medical Transcription Services Global Market Estimates and Forecasts in US$ Million by Region/Country: 2018-2025
Medical Transcription Services Global Retrospective Market Scenario in US$ Million by Region/Country: 2009-2017
Medical Transcription Services Market Share Shift across Key Geographies Worldwide: 2009 VS 2019 VS 2025
Consultation Reports (Service Segment) World Market by Region/Country in US$ Million: 2018 to 2025
Consultation Reports (Service Segment) Historic Market Analysis by Region/Country in US$ Million: 2009 to 2017
Consultation Reports (Service Segment) Market Share Breakdown of Worldwide Sales by Region/Country: 2009 VS 2019 VS 2025
History & Physical Reports (Service Segment) Potential Growth Markets Worldwide in US$ Million: 2018 to 2025
History & Physical Reports (Service Segment) Historic Market Perspective by Region/Country in US$ Million: 2009 to 2017
History & Physical Reports (Service Segment) Market Sales Breakdown by Region/Country in Percentage: 2009 VS 2019 VS 2025
Operative Reports (Service Segment) Geographic Market Spread Worldwide in US$ Million: 2018 to 2025
Operative Reports (Service Segment) Region Wise Breakdown of Global Historic Demand in US$ Million: 2009 to 2017
Operative Reports (Service Segment) Market Share Distribution in Percentage by Region/Country: 2009 VS 2019 VS 2025
Other Service Segments (Service Segment) World Market Estimates and Forecasts by Region/Country in US$ Million: 2018 to 2025
Other Service Segments (Service Segment) Market Historic Review by Region/Country in US$ Million: 2009 to 2017
Other Service Segments (Service Segment) Market Share Breakdown by Region/Country: 2009 VS 2019 VS 2025
GEOGRAPHIC MARKET ANALYSIS
United States
Market Facts & Figures
US Medical Transcription Services Market Share (in %) by Company: 2020 & 2025
United States Medical Transcription Services Market Estimates and Projections in US$ Million by Service Segment: 2018 to 2025
Medical Transcription Services Market in the United States by Service Segment: A Historic Review in US$ Million for 2009-2017
United States Medical Transcription Services Market Share Breakdown by Service Segment: 2009 VS 2019 VS 2025
Canada
Canadian Medical Transcription Services Market Estimates and Forecasts in US$ Million by Service Segment: 2018 to 2025
Canadian Medical Transcription Services Historic Market Review by Service Segment in US$ Million: 2009-2017
Medical Transcription Services Market in Canada: Percentage Share Breakdown of Sales by Service Segment for 2009, 2019, and 2025
Japan
Japanese Market for Medical Transcription Services: Annual Sales Estimates and Projections in US$ Million by Service Segment for the Period 2018-2025
Medical Transcription Services Market in Japan: Historic Sales Analysis in US$ Million by Service Segment for the Period 2009-2017
Japanese Medical Transcription Services Market Share Analysis by Service Segment: 2009 VS 2019 VS 2025
China
Chinese Medical Transcription Services Market Growth Prospects in US$ Million by Service Segment for the Period 2018-2025
Medical Transcription Services Historic Market Analysis in China in US$ Million by Service Segment: 2009-2017
Chinese Medical Transcription Services Market by Service Segment: Percentage Breakdown of Sales for 2009, 2019, and 2025
Europe
Market Facts & Figures
European Medical Transcription Services Market: Competitor Market Share Scenario (in %) for 2020 & 2025
European Medical Transcription Services Market Demand Scenario in US$ Million by Region/Country: 2018-2025
Medical Transcription Services Market in Europe: A Historic Market Perspective in US$ Million by Region/Country for the Period 2009-2017
European Medical Transcription Services Market Share Shift by Region/Country: 2009 VS 2019 VS 2025
European Medical Transcription Services Market Estimates and Forecasts in US$ Million by Service Segment: 2018-2025
Medical Transcription Services Market in Europe in US$ Million by Service Segment: A Historic Review for the Period 2009-2017
European Medical Transcription Services Market Share Breakdown by Service Segment: 2009 VS 2019 VS 2025
France
Medical Transcription Services Market in France by Service Segment: Estimates and Projections in US$ Million for the Period 2018-2025
French Medical Transcription Services Historic Market Scenario in US$ Million by Service Segment: 2009-2017
French Medical Transcription Services Market Share Analysis by Service Segment: 2009 VS 2019 VS 2025
Germany
Medical Transcription Services Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Service Segment for the Period 2018-2025
German Medical Transcription Services Historic Market Analysis in US$ Million by Service Segment: 2009-2017
German Medical Transcription Services Market Share Breakdown by Service Segment: 2009 VS 2019 VS 2025
Italy
Italian Medical Transcription Services Market Growth Prospects in US$ Million by Service Segment for the Period 2018-2025
Medical Transcription Services Historic Market Analysis in Italy in US$ Million by Service Segment: 2009-2017
Italian Medical Transcription Services Market by Service Segment: Percentage Breakdown of Sales for 2009, 2019, and 2025
United Kingdom
United Kingdom Market for Medical Transcription Services: Annual Sales Estimates and Projections in US$ Million by Service Segment for the Period 2018-2025
Medical Transcription Services Market in the United Kingdom: Historic Sales Analysis in US$ Million by Service Segment for the Period 2009-2017
United Kingdom Medical Transcription Services Market Share Analysis by Service Segment: 2009 VS 2019 VS 2025
Rest of Europe
Rest of Europe Medical Transcription Services Market Estimates and Forecasts in US$ Million by Service Segment: 2018-2025
Medical Transcription Services Market in Rest of Europe in US$ Million by Service Segment: A Historic Review for the Period 2009-2017
Rest of Europe Medical Transcription Services Market Share Breakdown by Service Segment: 2009 VS 2019 VS 2025
Asia-Pacific
Medical Transcription Services Market in Asia-Pacific by Service Segment: Estimates and Projections in US$ Million for the Period 2018-2025
Asia-Pacific Medical Transcription Services Historic Market Scenario in US$ Million by Service Segment: 2009-2017
Asia-Pacific Medical Transcription Services Market Share Analysis by Service Segment: 2009 VS 2019 VS 2025
Rest of World
Rest of World Medical Transcription Services Market Estimates and Forecasts in US$ Million by Service Segment: 2018 to 2025
Rest of World Medical Transcription Services Historic Market Review by Service Segment in US$ Million: 2009-2017
Medical Transcription Services Market in Rest of World: Percentage Share Breakdown of Sales by Service Segment for 2009, 2019, and 2025
Total Companies Profiled : 122

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