Medical Transcription Software Market Size, Share & Industry Analysis, By Deployment (Cloud/Web-Based and Installed/On-Premises), By End User Facility (Hospitals, Diagnostic Centers, Clinics, and Others), By Type (Voice Capture and Voice Recognition), By End User (Radiologists, Surgeons, Clinicians, and Others), and Regional Forecast 2020-2029 (Includes COVID-19 Business Impact)

                                          
We have updated Medical Transcription Software Market with respect to COVID-19 Business Impact.
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This report focuses on the Medical Transcription Software market and value at the global level, regional level, and company level. From a global perspective, this report represents the overall Medical Transcription Software market size by analyzing historical data and future prospects. Regionally, this report focuses on several key regions: North America, Europe, Japan, China, Southeast Asia, India, Latin America, and South America.


Global Medical Transcription Software Market: Segment Analysis


The research report includes specific segments by region (country), by Company, by Type, and by Application. This study provides information about the sales and revenue during the historic and forecasted period of 2019 to 2029. An in-depth analysis of the segments assists in identifying the different factors that will aid market growth.


Global Medical Transcription Software Market: Regional Analysis


The research report includes a detailed study of regions of North America, Europe, Japan, China, Southeast Asia, India, Latin America, and South America. The report has been curated after observing and studying various factors that determine regional growth such as the economic, environmental, social, technological, and political status of the particular region. Researchers have studied the data of revenue, sales, and manufacturers of each mentioned region. This section analyses region-wise revenue and volume for the forecast period of 2019 to 2029.


Global Medical Transcription Software Market: Competitive Landscape


This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2019 to 2029.
List of Companies Profiled

Market Players like Nuance Communications, Inc., M*Modal IP LLC (3M), and Philips Dictation (Speech Processing Solutions GmbH) Will Ensure to Strengthen the Market Position with Respect to Providing Medical Transcription Software Across the Globe

The medical transcription software market is highly consolidated market since top 3 players hold considerable share of the market. As of 2018, Nuance Communications is leading the player in the global market. The company is reinforcing its strategic position in the market owing to hold on unique technology, wide range of product offering, robust distribution network, superior quality and post-sale support. This company together with Philips Dictation (Speech Processing Solutions GmbH) currently holds over half of the market share in terms of revenue. Other players operating in the global market are MModal IP LLC (3M), Zydoc Medical, Acusis LLC, and Others.

List of Key Companies Covered

  
Nuance Communications, Inc.
  
M*Modal IP LLC (3M)
  
Dolbey
  
Acusis LLC
  
Voicebrook, Inc.
  
Speech Processing Solutions GmbH (Philips Dictation)
  
Xelex Digital LLC (WebChartMD)
  
nThrive, Inc.
  
Scribe Technology Solutions
  
ZyDoc Medical Transcription

REPORT COVERAGE
Medical transcription software is widely used to record and transcribe the patient encounter with the help of natural language processing algorithms equipped in the software. Extensively increasing patient pool, growing awareness and importance of clinical documentation, and increasing healthcare IT infrastructure in anticipated to drive the market during the forecast period. Combined with this, government regulations and acts are projected to boost the adoption of clinical documentation systems, which is eventually expected to drive the growth of the medical transcription software market during the forecast period.

dynamics and competitive landscape. Various key insights provided in the report are key industry developments- partnerships, mergers and acquisitions, technological developments in medical transcription software, revenue models and key features of solutions for selective players, transcription services versus voice recognition software- pros and cons, and adoption of advanced AI powered voice recognition solutions for key countries.

Report Scope & Segmentation

 

Segmentation

By Deployment

  
Cloud/ Web Based
  
Installed/ On Premises

By End-User Facility

  
Hospitals
  
Diagnostic Centers
  
Clinics
  
Others

By Type

  
Voice Capture
  
Voice Recognition

By End User

  
Radiologists
  
Clinicians
  
Surgeons
  
Others

By Geography

  
North America (U.S. and Canada)
  
Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
  
Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
  
Rest of the World

INDUSTRY DEVELOPMENT

October 2018: Speech Processing Solutions GmbH launched advanced version of SpeechLive, a cloud platform utilized in dictation and transcription.

June 2018: Nuance Communications, Inc. signed a strategic partnership with Nexgen with an aim to introduce their Dragon Law Enforcement Speech recognition platform on expanded customer base.

February 2017: MModal IP LLC launched virtual scribing program which is compatible with their existing clinical documentation solution suit. The newly launched module enables efficient patient physician engagement by reducing the burden of manual clinical documentation.