DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/3j527w/medical) has announced the addition of the "Medical Transcription Market in North America 2011-2015" report to their offering.
One of the key factors contributing to this market growth is the increasing demand for documentation procedures. The Medical Transcription market in North America has also been witnessing the trend of increasing use of voice recognition software. However, the intense competition among vendors could pose a challenge to the growth of this market.
Key vendors dominating this market space include Nuance Communications Inc., MModal Inc., Acusis LLC, and Transcend Services Inc.
Other vendors mentioned in the report are SPi Technologies Inc., Amphion Medical Solutions LLC, BayScribe Inc., American Transcription Solutions Inc., and 3M Health Information Systems Inc.
Commenting on the report, an analyst from TechNavio's Healthcare team said: ''As the Medical Transcription (MT) market in North America presents several growth opportunities, different vendors in the market are increasingly forming strategic alliances and engaging in mergers and acquisitions to increase their market share. Moreover, by the consolidation of the market, problems such as price wars and the increase in infrastructure costs can be easily handled by the vendors.''
According to the report, the increase in the aging population will provide several opportunities for the MT market in North America. Older people are prone to several diseases because of their body weakening, and they visit healthcare institutions on a regular basis for treatment. Thus, more medical reports will be made, leading to an increase in demand for MT. Moreover, the revenue from MT services is likely to go up with the increase in the aging population. This driver is expected to have a strong impact on the market.
For more information visit http://www.researchandmarkets.com/research/3j527w/medical
Source: Research and Markets