The medical transcription market is expected to grow at a CAGR of 5% during the forecast period. Increase in need for automated transcripts, drivers.2, and drivers.3 are some of the significant factors fueling medical transcription market growth.
Increase in need for automated transcripts
Throughout the forecast period, the hospital segment will be the leading segment of the market. The high inclination of patients toward hospitals is due to the scale at which they operate, the rules and regulations followed, and the importance given to maintain health records. The physician groups and clinics segment will see substantial growth during the forecast period as their end-users are expected to increase. Major factors contributing to the growth of this segment are increasing government regulations for the healthcare sector and the rising need for MT.
