Transparency Market
Research, a global market intelligence firm, recently announced the publication
of a new research report. The research report, titled “Medical
Transcription Services Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2013 - 2019”, is available for sale on the company
website.According to the study, in 2012, the global medical transcription
services market was worth US$41.4 bn and is estimated to reach US$60.6 bn by
the end of 2019. The market is expected to exhibit a healthy 5.60% CAGR between
2013 and 2019.
The medical transcription
services market has witnessed significant growth in recent years and is
expecting an upward trajectory owing to the rising healthcare automation and
rising focus on using standard reporting styles. In addition, the guarantee of
patient record portability and growing healthcare IT initiatives in developing
regions are some of the factors propelling the global medical transcription
services market. Nevertheless, dictation challenges and concerns associated
with full-fledged or partial medical transcription are some of the factors that
are expected to curb the growth of the market in the next few years.
By service type,
the global market for medical transcription services is divided into
consultation report, operative note or report, discharge summary, history and
physical report, and others such as pathology report and radiology report
(X-rays or radiographs). Among all the types, the consultation report segment
dominates the overall medical transcription services market and is expected to
remain in the top position in the coming years. The segment is anticipated to
reach US$21.1 bn by the end of 2019, exhibiting a 3.30% CAGR between 2013 and
2019.
By mode of
procurement, the global market for medical transcription services has been
divided into offshoring, outsourcing, and both. In 2012, the outsourcing
segment held a massive share of 62.2% in the global medical transcription
services market. The outsourcing segment has gained traction in recent years
and is expected to remain popular in the next few years.
By geography, the
global market for medical transcription services has been segmented into Asia
Pacific, North America, Europe, and Rest of the World. Among these regions,
North America dominated the overall medical transcription services market owing
to the enhanced medical services documentation in the U.S. The North America
medical transcription services market is expected to reach US$18 bn till 2019
and register a healthy 5% CAGR through the forecast period. The rapid growth of
this regional market can be attributed to the implementation of the Patient
Protection Act and the Affordable Care Act. On the other hand, the Asia Pacific
medical transcription services market is projected to grow at a fast pace owing
to the major involvement in this market from the Philippines and India.
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Furthermore, the
research report covers the competitive landscape of the global market for
medical transcription services, including company overview, financial overview,
business strategies, SWOT analysis, and recent developments. Some of the
prominent players mentioned in the report are Precyse Solutions LLC., Nuance
Communications Inc., Acusis LLC, MModal Inc., Trans Tech Medical Solutions,
Superior Global Solutions Inc., Scribe Healthcare Technologies Inc., and iMedX
Information Services Pvt. Ltd.
Key segments of
the Medical Transcription Services market:
Medical
Transcription Services Market, by Service Type
•History and
Physical Report (H&P)
•Discharge
Summary (DS)
•Operative Note
or Report (OP)
•Consultation
Report (CONSULTS)
•Others
(Pathology Report (PATH) & Radiology Report (X-rays or radiographs))
Medical
Transcription Services Market, by Mode of Procurement
•Outsourcing
•Offshoring
•Both
Medical
Transcription Services Market, by Geography
•North America
•Europe
•Asia-Pacific
•Rest of the
World (RoW)
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Us
Transparency
Market Research (TMR) is a global market intelligence company providing business
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