Increasing Investment in Research is Propelling the Growth of the Medical Transcription Services Market in the APAC Region!

The Asia Pacific Medical Transcription Services market is one of the largest and fastest-growing markets globally. The region includes countries such as China, India, Japan, Australia, South Korea, and several Southeast Asian nations. Governments in the Asia Pacific region have been focusing on improving healthcare infrastructure and digitizing medical records. These initiatives have increased the demand for medical transcription services to ensure proper documentation and data management. Outsourcing medical transcription services to specialized providers in countries like India and the Philippines has been popular due to the cost advantages. These countries have a large pool of skilled medical transcriptionists who offer services at competitive rates.

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Further, the Asia-Pacific Medical Transcription Services Market is expected to grow at a strong CAGR of 5% during the forecast period (2022-2030). The increasing demand for medical transcription services due to the rising healthcare expenditure, along with the increasing research & development efforts in the region.

FIG. 1 APAC Medical Transcription Services Market Revenue (2020-2030)- USD Mn

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Based on service, the market is segmented into history and physical report, discharge summary, operative note or report, consultation report, and others. As per our analysis, the consultation report segment acquired a major share in 2021. This is mainly due to the increasing prevalence of chronic diseases and the increasing number of medical consultations in the healthcare facilities.

Based on the procurement mode, the market is segmented into outsourcing, offshoring, and both. The offshoring segment is expected to grow with a higher CAGR in the medical transcription services market during the forecast period. The outsourcing of medical transcription services is a practice where healthcare providers or organizations contract with external service providers to transcribe medical dictations and convert them into written documents. This can be attributed to several factors, including the increasing demand for accurate and timely documentation, the need for healthcare providers to focus on core medical activities, cost savings, and advancements in technology.

Based on the end-user, the market is segmented into hospitals, clinics, academic medical centers, and others. As per our analysis, the hospital segment acquired a major share in 2021. The rising patient pool and the increasing number of hospital consultations increases the requirement of the maintenance of the health records are the important factors driving the market for medical transcription services.

Global Medical Transcription Services Market Segmentation

Market Insight, by Service

· History and Physical Report

· Discharge Summary

· Operative Note or Report

· Consultation Report

· Others

Market Insight, by Procurement Mode

· Outsourcing

· Offshoring

· Both

Market Insight, by End-User

· Hospitals

· Clinics

· Academic Medical Centers

· Others

Market Insight, by Region

· North America

o U.S.

o Canada

o Rest of North America

· Europe

o Germany

o UK

o France

o Italy

o Spain

o Rest of Europe

· APAC

o China

o Japan

o India

o Rest of APAC

· Rest of the World

Top Company Profiles

· Lingual Consultancy Services

· Acusis LLC

· Nuance Communications

· Superior Global Solutions

· Transcend Services

· Scribe Technology

· Medscribe

· Transperfect

· iMedX

· CloudCare