The Asia Pacific Medical Speech Recognition Software Market is expected to witness market growth of 11.9% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Medical Speech Recognition Software Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $218.5 million by 2031. The Japan market is registering a CAGR of 11.2% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 12.6% during 2024-2031.
This software market is witnessing dynamic adoption trends driven by technological advancements, evolving healthcare needs, and changing regulatory environments. These trends reflect how healthcare organizations increasingly integrate speech recognition technology into their practices to improve efficiency, accuracy, and patient care.
There is a growing trend towards integrating speech recognition software with Electronic Health Records (EHR) systems. This integration enables healthcare professionals to dictate and update patient records directly within the EHR platform, streamlining the documentation process and reducing the need for manual data entry. By linking speech recognition technology with EHRs, healthcare providers can ensure that patient data is accurately and promptly recorded, minimizing errors and improving the overall quality of health information.
The rapid expansion of hospitals across India, including new facilities and upgrading existing ones, drives the need for efficient and accurate clinical documentation. This process can be streamlined by medical speech recognition software, which reduces the time and effort necessary for manual data entry. As per the National Investment Promotion and Facilitation Agency of India, the hospital industry in India, which accounts for 80% of the entire healthcare industry, is experiencing high investment demand from international and domestic investors. The healthcare industry was expected to rise to $132 billion by 2023. The hospital sector in India was valued at INR 7.94 trillion in FY21 in terms of revenue and is expected to reach INR 18.34 trillion by FY 2027. Therefore, increasing healthcare infrastructure in the region is driving the market's growth.
The China market dominated the Asia Pacific Medical Speech Recognition Software Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $218.5 million by 2031. The Japan market is registering a CAGR of 11.2% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 12.6% during 2024-2031.
This software market is witnessing dynamic adoption trends driven by technological advancements, evolving healthcare needs, and changing regulatory environments. These trends reflect how healthcare organizations increasingly integrate speech recognition technology into their practices to improve efficiency, accuracy, and patient care.
There is a growing trend towards integrating speech recognition software with Electronic Health Records (EHR) systems. This integration enables healthcare professionals to dictate and update patient records directly within the EHR platform, streamlining the documentation process and reducing the need for manual data entry. By linking speech recognition technology with EHRs, healthcare providers can ensure that patient data is accurately and promptly recorded, minimizing errors and improving the overall quality of health information.
The rapid expansion of hospitals across India, including new facilities and upgrading existing ones, drives the need for efficient and accurate clinical documentation. This process can be streamlined by medical speech recognition software, which reduces the time and effort necessary for manual data entry. As per the National Investment Promotion and Facilitation Agency of India, the hospital industry in India, which accounts for 80% of the entire healthcare industry, is experiencing high investment demand from international and domestic investors. The healthcare industry was expected to rise to $132 billion by 2023. The hospital sector in India was valued at INR 7.94 trillion in FY21 in terms of revenue and is expected to reach INR 18.34 trillion by FY 2027. Therefore, increasing healthcare infrastructure in the region is driving the market's growth.
List of Key Companies Profiled
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- IBM Corporation
- Microsoft Corporation
- 3M Company
- Google LLC (Alphabet Inc.)
- Koninklijke Philips N.V.
- DeepScribe Inc.
- Augnito India Pvt. Ltd.
- Deepgram, Inc.
- ScienceSoft USA Corporation
Market Report Segmentation
By Deployment
- Cloud-based
- On-premises
By Functionality
- Front-end Speech Recognition
- Back-End Speech Recognition
- Voice Command and Control
By End Use
- Doctors and Physicians
- Radiologists
- Medical Transcriptionist
- Other End Use
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Medical Speech Recognition Software Market by Deployment
Chapter 6. Asia Pacific Medical Speech Recognition Software Market by Functionality
Chapter 7. Asia Pacific Medical Speech Recognition Software Market by End Use
Chapter 8. Asia Pacific Medical Speech Recognition Software Market by Country
Chapter 9. Company Profiles
Companies Mentioned
Some of the key companies profiled in this Asia-Pacific Medical Speech Recognition Software market report include:- Amazon Web Services, Inc. (Amazon.com, Inc.)
- IBM Corporation
- Microsoft Corporation
- 3M Company
- Google LLC (Alphabet Inc.)
- Koninklijke Philips N.V.
- DeepScribe Inc.
- Augnito India Pvt. Ltd.
- Deepgram, Inc.
- ScienceSoft USA Corporation
Methodology
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