Objective of the Report

This market research report analyzes the Medical Transcription Service market industry in-depth.

Overview

The global medical transcription service market reached US$ 43.46 billion in 2023 and is expected to reach US$ 65.70 billion by 2031 growing with a CAGR of 5.3% during the forecast period 2024-2031.

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Key Players

·         ACCESSWIRE

·         Amazon Web Services, Inc.

·         3M

·         DataMatrix Technologies, Inc.

·         Mediscribes, Inc.

·         ScribeMedics

·         The Dictation Source

·         SMARTMD

·         EHR Transcriptions, Inc.

·         MOS Medical Transcription Services (MTS)

Market Segments

·         By Service Type (Consultation Report, History and Physical Examination Reports, Discharge Summary, Operative Report, Others)

·         By Mode Of Procurement (Outsourcing, Offshoring, Both)

·         By End-Users (Hospitals, Clinics, Diagnostic Center, Others)

·         By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Key Developments

In November 2023, Amazon Web Services (AWS) announced a major upgrade to its Amazon Transcribe service, powered by a new multi-billion parameter speech foundation model trained on millions of hours of audio data across over 100 languages. This next-generation system significantly expands Transcribe's automatic speech recognition (ASR) capabilities, delivering substantial improvements in the accuracy of 20-50% for most languages and even bigger jumps of 30-70% for challenging telephony speech.

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Regional Analysis

The report provides a comprehensive regional analysis, covering the following areas:

North America: US, Canada, Mexico, Rest of North America

Europe: Germany, Russia, UK, France, Italy, Spain, Netherlands, Rest of Europe

Asia Pacific: China, India, Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific

Middle East and Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa

South America: Brazil, Argentina, Colombia, Rest of South America

Who is our Target Audience

This report will interest a diverse group of stakeholders, including investors, analysts, government agencies, regulatory bodies, legislators, researchers, strategic managers, and academic institutions seeking in-depth market insights to inform future strategies.

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