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Medical Transcription Market in US 2024-2028- Product Image
Medical Transcription Market in US 2024-2028- Product Image
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Medical Transcription Market in US 2024-2028

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    Report

  • 122 Pages
  • October 2024
  • Region: United States
  • TechNavio
  • ID: 5632927
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The medical transcription market in us is forecasted to grow by USD 1.62 billion during 2023-2028, accelerating at a CAGR of 4.5% during the forecast period. The report on the medical transcription market in us provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing need for automated medical transcripts, government initiatives supporting adoption of health it systems, and growing prevalence of chronic diseases.

The medical transcription market in us is segmented as below:

By End-user

  • Hospitals
  • Physician groups and clinics

By Type

  • Services
  • Software

By Geographical Landscape

  • North America
This study identifies the growing adoption of advanced asr systems in healthcare sector as one of the prime reasons driving the medical transcription market in us growth during the next few years. Also, emergence of new speech recognition technologies and growing consolidation in market will lead to sizable demand in the market.

The report on the medical transcription market in us covers the following areas:

  • Medical Transcription Market in US sizing
  • Medical Transcription Market in US forecast
  • Medical Transcription Market in US industry analysis
A robust vendor analysis within the report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading medical transcription market in us vendors that include 3M Co., Amazon.com Inc., Aquity LLC, Athreon Corp., CBAY Transcription Inc., Crimson Interactive Pvt. Ltd., Dolbey, EHR Transcriptions Inc., Global Medical Transcription LLC, InSync Healthcare Solution, Managed Outsource Solutions, NextGen Healthcare Inc., Nuance Communications Inc., Scribetech UK Ltd., SmartMD, Sunrise Transcriptions Inc., TransDyne, vChart LLC, World Wide Dictation Service of New York Inc., and ZyDoc Medical Transcription LLC. Also, the medical transcription market in us analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Table of Contents

1 Executive Summary
1.1 Market overview
  • Executive Summary - Chart on Market Overview
  • Executive Summary - Data Table on Market Overview
  • Executive Summary - Chart on Country Market Characteristics
  • Executive Summary - Chart on Market Segmentation by End-user
  • Executive Summary - Chart on Market Segmentation by Type
  • Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
  • Parent Market
  • Data Table on - Parent Market
2.2 Market characteristics
  • Market characteristics analysis
2.3 Value chain analysis
  • Value Chain Analysis
3 Market Sizing
3.1 Market definition
  • Offerings of companies included in the market definition
3.2 Market segment analysis
  • Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
  • Chart on US - Market size and forecast 2023-2028 ($ million)
  • Data Table on US - Market size and forecast 2023-2028 ($ million)
  • Chart on US: Year-over-year growth 2023-2028 (%)
  • Data Table on US: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Medical Transcription Market in US 2018 - 2022
  • Historic Market Size - Data Table on Medical Transcription Market in US 2018 - 2022 ($ million)
4.2 End-user segment analysis 2018 - 2022
  • Historic Market Size - End-user Segment 2018 - 2022 ($ million)
4.3 Type segment analysis 2018 - 2022
  • Historic Market Size - Type Segment 2018 - 2022 ($ million)
5 Five Forces Analysis
5.1 Five forces summary
  • Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
  • Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
  • Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
  • Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
  • Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
  • Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
  • Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by End-user
6.1 Market segments
  • Chart on End-user - Market share 2023-2028 (%)
  • Data Table on End-user - Market share 2023-2028 (%)
6.2 Comparison by End-user
  • Chart on Comparison by End-user
  • Data Table on Comparison by End-user
6.3 Hospitals - Market size and forecast 2023-2028
  • Chart on Hospitals - Market size and forecast 2023-2028 ($ million)
  • Data Table on Hospitals - Market size and forecast 2023-2028 ($ million)
  • Chart on Hospitals - Year-over-year growth 2023-2028 (%)
  • Data Table on Hospitals - Year-over-year growth 2023-2028 (%)
6.4 Physician groups and clinics - Market size and forecast 2023-2028
  • Chart on Physician groups and clinics - Market size and forecast 2023-2028 ($ million)
  • Data Table on Physician groups and clinics - Market size and forecast 2023-2028 ($ million)
  • Chart on Physician groups and clinics - Year-over-year growth 2023-2028 (%)
  • Data Table on Physician groups and clinics - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by End-user
  • Market opportunity by End-user ($ million)
  • Data Table on Market opportunity by End-user ($ million)
7 Market Segmentation by Type
7.1 Market segments
  • Chart on Type - Market share 2023-2028 (%)
  • Data Table on Type - Market share 2023-2028 (%)
7.2 Comparison by Type
  • Chart on Comparison by Type
  • Data Table on Comparison by Type
7.3 Services - Market size and forecast 2023-2028
  • Chart on Services - Market size and forecast 2023-2028 ($ million)
  • Data Table on Services - Market size and forecast 2023-2028 ($ million)
  • Chart on Services - Year-over-year growth 2023-2028 (%)
  • Data Table on Services - Year-over-year growth 2023-2028 (%)
7.4 Software - Market size and forecast 2023-2028
  • Chart on Software - Market size and forecast 2023-2028 ($ million)
  • Data Table on Software - Market size and forecast 2023-2028 ($ million)
  • Chart on Software - Year-over-year growth 2023-2028 (%)
  • Data Table on Software - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Type
  • Market opportunity by Type ($ million)
  • Data Table on Market opportunity by Type ($ million)
8 Customer Landscape
8.1 Customer landscape overview
  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Drivers, Challenges, and Opportunity/Restraints
9.1 Market drivers
9.2 Market challenges
9.3 Impact of drivers and challenges
  • Impact of drivers and challenges in 2023 and 2028
9.4 Market opportunities/restraints
10 Competitive Landscape
10.1 Overview
10.2 Competitive Landscape
  • Overview on criticality of inputs and factors of differentiation
10.3 Landscape disruption
  • Overview on factors of disruption
10.4 Industry risks
  • Impact of key risks on business
11 Competitive Analysis
11.1 Companies profiled
  • Companies covered
11.2 Market positioning of companies
  • Matrix on companies position and classification
  • 3M Co.
  • 3M Co. - Overview
  • 3M Co. - Business segments
  • 3M Co. - Key news
  • 3M Co. - Key offerings
  • 3M Co. - Segment focus
11.4 Amazon.com Inc.
  • Amazon.com Inc. - Overview
  • Amazon.com Inc. - Business segments
  • Amazon.com Inc. - Key news
  • Amazon.com Inc. - Key offerings
  • Amazon.com Inc. - Segment focus
11.5 Aquity LLC
  • Aquity LLC - Overview
  • Aquity LLC - Product / Service
  • Aquity LLC - Key offerings
11.6 Dolbey
  • Dolbey - Overview
  • Dolbey - Product / Service
  • Dolbey - Key offerings
11.7 InSync Healthcare Solution
  • InSync Healthcare Solution - Overview
  • InSync Healthcare Solution - Product / Service
  • InSync Healthcare Solution - Key offerings
11.8 NextGen Healthcare Inc.
  • NextGen Healthcare Inc. - Overview
  • NextGen Healthcare Inc. - Product / Service
  • NextGen Healthcare Inc. - Key news
  • NextGen Healthcare Inc. - Key offerings
11.9 Nuance Communications Inc.
  • Nuance Communications Inc. - Overview
  • Nuance Communications Inc. - Product / Service
  • Nuance Communications Inc. - Key offerings
11.10 SmartMD
  • SmartMD - Overview
  • SmartMD - Product / Service
  • SmartMD - Key offerings
11.11 World Wide Dictation Service of New York Inc.
  • World Wide Dictation Service of New York Inc. - Overview
  • World Wide Dictation Service of New York Inc. - Product / Service
  • World Wide Dictation Service of New York Inc. - Key offerings
11.12 ZyDoc Medical Transcription LLC
  • ZyDoc Medical Transcription LLC - Overview
  • ZyDoc Medical Transcription LLC - Product / Service
  • ZyDoc Medical Transcription LLC - Key offerings
12 Appendix
12.1 Scope of the report
12.2 Inclusions and exclusions checklist
  • Inclusions checklist
  • Exclusions checklist
12.3 Currency conversion rates for US$
  • Currency conversion rates for US$
12.4 Research methodology
  • Research methodology
12.5 Data procurement
  • Information sources
12.6 Data validation
  • Data validation
12.7 Validation techniques employed for market sizing
  • Validation techniques employed for market sizing
12.8 Data synthesis
  • Data synthesis
12.9 360 degree market analysis
  • 360 degree market analysis
12.10 List of abbreviations
  • List of abbreviations
List of Exhibits
Exhibits 1: Executive Summary - Chart on Market Overview
Exhibits 2: Executive Summary - Data Table on Market Overview
Exhibits 3: Executive Summary - Chart on Country Market Characteristics
Exhibits 4: Executive Summary - Chart on Market Segmentation by End-user
Exhibits 5: Executive Summary - Chart on Market Segmentation by Type
Exhibits 6: Executive Summary - Chart on Company Market Positioning
Exhibits 7: Parent Market
Exhibits 8: Data Table on - Parent Market
Exhibits 9: Market characteristics analysis
Exhibits 10: Value Chain Analysis
Exhibits 11: Offerings of companies included in the market definition
Exhibits 12: Market segments
Exhibits 13: Chart on US - Market size and forecast 2023-2028 ($ million)
Exhibits 14: Data Table on US - Market size and forecast 2023-2028 ($ million)
Exhibits 15: Chart on US: Year-over-year growth 2023-2028 (%)
Exhibits 16: Data Table on US: Year-over-year growth 2023-2028 (%)
Exhibits 17: Historic Market Size - Data Table on Medical Transcription Market in US 2018 - 2022 ($ million)
Exhibits 18: Historic Market Size - End-user Segment 2018 - 2022 ($ million)
Exhibits 19: Historic Market Size - Type Segment 2018 - 2022 ($ million)
Exhibits 20: Five forces analysis - Comparison between 2023 and 2028
Exhibits 21: Bargaining power of buyers - Impact of key factors 2023 and 2028
Exhibits 22: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
Exhibits 23: Threat of new entrants - Impact of key factors in 2023 and 2028
Exhibits 24: Threat of substitutes - Impact of key factors in 2023 and 2028
Exhibits 25: Threat of rivalry - Impact of key factors in 2023 and 2028
Exhibits 26: Chart on Market condition - Five forces 2023 and 2028
Exhibits 27: Chart on End-user - Market share 2023-2028 (%)
Exhibits 28: Data Table on End-user - Market share 2023-2028 (%)
Exhibits 29: Chart on Comparison by End-user
Exhibits 30: Data Table on Comparison by End-user
Exhibits 31: Chart on Hospitals - Market size and forecast 2023-2028 ($ million)
Exhibits 32: Data Table on Hospitals - Market size and forecast 2023-2028 ($ million)
Exhibits 33: Chart on Hospitals - Year-over-year growth 2023-2028 (%)
Exhibits 34: Data Table on Hospitals - Year-over-year growth 2023-2028 (%)
Exhibits 35: Chart on Physician groups and clinics - Market size and forecast 2023-2028 ($ million)
Exhibits 36: Data Table on Physician groups and clinics - Market size and forecast 2023-2028 ($ million)
Exhibits 37: Chart on Physician groups and clinics - Year-over-year growth 2023-2028 (%)
Exhibits 38: Data Table on Physician groups and clinics - Year-over-year growth 2023-2028 (%)
Exhibits 39: Market opportunity by End-user ($ million)
Exhibits 40: Data Table on Market opportunity by End-user ($ million)
Exhibits 41: Chart on Type - Market share 2023-2028 (%)
Exhibits 42: Data Table on Type - Market share 2023-2028 (%)
Exhibits 43: Chart on Comparison by Type
Exhibits 44: Data Table on Comparison by Type
Exhibits 45: Chart on Services - Market size and forecast 2023-2028 ($ million)
Exhibits 46: Data Table on Services - Market size and forecast 2023-2028 ($ million)
Exhibits 47: Chart on Services - Year-over-year growth 2023-2028 (%)
Exhibits 48: Data Table on Services - Year-over-year growth 2023-2028 (%)
Exhibits 49: Chart on Software - Market size and forecast 2023-2028 ($ million)
Exhibits 50: Data Table on Software - Market size and forecast 2023-2028 ($ million)
Exhibits 51: Chart on Software - Year-over-year growth 2023-2028 (%)
Exhibits 52: Data Table on Software - Year-over-year growth 2023-2028 (%)
Exhibits 53: Market opportunity by Type ($ million)
Exhibits 54: Data Table on Market opportunity by Type ($ million)
Exhibits 55: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Exhibits 56: Impact of drivers and challenges in 2023 and 2028
Exhibits 57: Overview on criticality of inputs and factors of differentiation
Exhibits 58: Overview on factors of disruption
Exhibits 59: Impact of key risks on business
Exhibits 60: Companies covered
Exhibits 61: Matrix on companies position and classification
Exhibits 62: 3M Co. - Overview
Exhibits 63: 3M Co. - Business segments
Exhibits 64: 3M Co. - Key news
Exhibits 65: 3M Co. - Key offerings
Exhibits 66: 3M Co. - Segment focus
Exhibits 67: Amazon.com Inc. - Overview
Exhibits 68: Amazon.com Inc. - Business segments
Exhibits 69: Amazon.com Inc. - Key news
Exhibits 70: Amazon.com Inc. - Key offerings
Exhibits 71: Amazon.com Inc. - Segment focus
Exhibits 72: Aquity LLC - Overview
Exhibits 73: Aquity LLC - Product / Service
Exhibits 74: Aquity LLC - Key offerings
Exhibits 75: Dolbey - Overview
Exhibits 76: Dolbey - Product / Service
Exhibits 77: Dolbey - Key offerings
Exhibits 78: InSync Healthcare Solution - Overview
Exhibits 79: InSync Healthcare Solution - Product / Service
Exhibits 80: InSync Healthcare Solution - Key offerings
Exhibits 81: NextGen Healthcare Inc. - Overview
Exhibits 82: NextGen Healthcare Inc. - Product / Service
Exhibits 83: NextGen Healthcare Inc. - Key news
Exhibits 84: NextGen Healthcare Inc. - Key offerings
Exhibits 85: Nuance Communications Inc. - Overview
Exhibits 86: Nuance Communications Inc. - Product / Service
Exhibits 87: Nuance Communications Inc. - Key offerings
Exhibits 88: SmartMD - Overview
Exhibits 89: SmartMD - Product / Service
Exhibits 90: SmartMD - Key offerings
Exhibits 91: World Wide Dictation Service of New York Inc. - Overview
Exhibits 92: World Wide Dictation Service of New York Inc. - Product / Service
Exhibits 93: World Wide Dictation Service of New York Inc. - Key offerings
Exhibits 94: ZyDoc Medical Transcription LLC - Overview
Exhibits 95: ZyDoc Medical Transcription LLC - Product / Service
Exhibits 96: ZyDoc Medical Transcription LLC - Key offerings
Exhibits 97: Inclusions checklist
Exhibits 98: Exclusions checklist
Exhibits 99: Currency conversion rates for US$
Exhibits 100: Research methodology
Exhibits 101: Information sources
Exhibits 102: Data validation
Exhibits 103: Validation techniques employed for market sizing
Exhibits 104: Data synthesis
Exhibits 105: 360 degree market analysis
Exhibits 106: List of abbreviations

Executive Summary

The following companies are recognized as the key players in the medical transcription market in us: 3M Co., Amazon.com Inc., Aquity LLC, Athreon Corp., CBAY Transcription Inc., Crimson Interactive Pvt. Ltd., Dolbey, EHR Transcriptions Inc., Global Medical Transcription LLC, InSync Healthcare Solution, Managed Outsource Solutions, NextGen Healthcare Inc., Nuance Communications Inc., Scribetech UK Ltd., SmartMD, Sunrise Transcriptions Inc., TransDyne, vChart LLC, World Wide Dictation Service of New York Inc., and ZyDoc Medical Transcription LLC.

Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is growing adoption of advanced asr systems in healthcare sector."

According to the report, one of the major drivers for this market is the growing need for automated medical transcripts.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • 3M Co.
  • Amazon.com Inc.
  • Aquity LLC
  • Athreon Corp.
  • CBAY Transcription Inc.
  • Crimson Interactive Pvt. Ltd.
  • Dolbey
  • EHR Transcriptions Inc.
  • Global Medical Transcription LLC
  • InSync Healthcare Solution
  • Managed Outsource Solutions
  • NextGen Healthcare Inc.
  • Nuance Communications Inc.
  • Scribetech UK Ltd.
  • SmartMD
  • Sunrise Transcriptions Inc.
  • TransDyne
  • vChart LLC
  • World Wide Dictation Service of New York Inc.
  • ZyDoc Medical Transcription LLC

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About the Medical Transcription Market

Medical transcription is a healthcare service that involves the conversion of audio recordings of medical reports into written documents. It is a critical component of the healthcare industry, as it helps to ensure accuracy and consistency in medical records. Medical transcriptionists are responsible for transcribing medical reports, such as patient histories, physical examinations, laboratory results, and operative reports. They must be familiar with medical terminology and have a good understanding of medical procedures. Medical transcription services are used by healthcare providers, such as hospitals, clinics, and private practices, to ensure accuracy and efficiency in their medical records. They are also used by insurance companies to verify the accuracy of medical claims. Medical transcription services are also used by medical researchers to analyze data and develop new treatments. Some companies in the medical transcription market include Nuance Communications, M*Modal, Transcend Services, Inc., and 3M Health Information Systems. Show Less Read more

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