LONDON--(BUSINESS WIRE)--Set to grow by USD 16.64 billion during 2020-2024, Technavio’s latest market research report estimates the medical transcription market to register a CAGR of over 5%. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Acusis LLC, Excel Transcriptions Inc., Global Medical Transcription LLC, iMedX Inc., Lingual Consultancy Services Pvt. Ltd., MModal IP LLC, MTBC Inc., nThrive Inc., Nuance Communications Inc., and World Wide Dictation Service of New York Inc. are some of the major market participants. The increase in need for automated transcripts will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Medical Transcription Market 2020-2024: Segmentation
Medical Transcription Market is segmented as below:
-
End-user
- Hospitals
- Physician Groups And Clinics
-
Geography
- North America
- Europe
- APAC
- South America
- MEA
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Medical Transcription Market 2020-2024: Vendor Analysis and Scope
To help businesses improve their market position, the medical transcription market provides a detailed analysis of around 25 vendors operating in the market. Some of these vendors include Acusis LLC, Excel Transcriptions Inc., Global Medical Transcription LLC, iMedX Inc., Lingual Consultancy Services Pvt. Ltd., MModal IP LLC, MTBC Inc., nThrive Inc., Nuance Communications Inc., and World Wide Dictation Service of New York Inc.
The report also covers the following areas:
- Medical Transcription Market size
- Medical Transcription Market trends
- Medical Transcription Market industry analysis
Market trends such as the emergence of voice recognition technologies are likely to emerge as primary drivers of the market. However, factors such as concerns about medical data privacy is may threaten the growth of the market.
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Medical Transcription Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist medical transcription market growth during the next five years
- Estimation of the medical transcription market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the medical transcription market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of medical transcription market vendors
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user placement
- Hospitals - Market size and forecast 2019-2024
- Physician groups and clinics - Market size and forecast 2019-2024
- Market opportunity by End-user
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Acusis LLC
- Excel Transcriptions, Inc.
- Global Medical Transcription LLC
- iMedX Inc.
- Lingual Consultancy Services Pvt. Ltd.
- MModal IP LLC
- MTBC Inc.
- nThrive Inc.
- Nuance Communications Inc.
- World Wide Dictation Service of New York Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
