Medical transcription market to hit USD60.6bn in 2019

The global medical transcription services market is forecast to reach an estimated value of USD60.6bn in 2019, growing at a compounded annual growth rate of 5.6% from 2013. According to the research report released by Transparency Market Research, the market was valued at USD41.4bn in 2012 and is expected to grow at a CAGR of 5.6% until 2019, with the incorporation of automated services in the healthcare sector as the major growth driver. The report indicates that North America held a leading position in the overall medical transcription services market. Asia Pacific is also expected to witness a major breakthrough in the overall medical transcription services market as the economies of countries such as Philippines and India flourish.