Towards Healthcare
Medical Transcription Software Market to Grow at 16.34% CAGR till 2034

Medical Transcription Software Market Future with AI Surge

According to market projections, the medical transcription software sector is expected to grow from USD 2.59 billion in 2024 to USD 11.36 billion by 2034, reflecting a CAGR of 16.34%. The medical transcription software market is growing because it reduces the cost of medical transcription. These systems eliminate the need for in-house medical transcriptionists or outsourcing, which can be costly. Physicians often spend hours on administrative tasks, including transcription. North America is dominant in the market due to enhanced accuracy and improved efficiency in healthcare documentation.

  • Insight Code: 6056
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Published: August 2025
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2022
  • Base Year: 2023
  • Estimated Years: 2024-2033

About The Author

Deepa Pandey is a focused and detail-oriented market research professional with growing expertise in the healthcare sector, delivering high-quality insights across therapeutic areas, diagnostics, biotechnology, and healthcare services.

She began her research career at Precedence Research, where she contributed to a wide range of healthcare industry studies, helping build a strong foundation in market intelligence and strategic research. Currently, Deepa plays a critical role at Towards Healthcare, while also extending her research capabilities across Statifacts, supporting cross-industry intelligence initiatives with a focus on healthcare.

Her ability to distill complexity into clarity has made her a trusted contributor to both internal teams and external clients across the healthcare value chain. By combining professionalism with an evolving depth in healthcare research, Deepa consistently adds value to projects that demand critical thinking, market precision, and industry-specific knowledge. Her contributions help organizations navigate the complexities of regulated markets and make data-backed growth decisions.

FAQ's

The medical transcription software market stands at USD 3.01 billion in 2025 and is expected to reach USD 11.36 billion by 2034, growing at a CAGR of 16.34% from 2024 to 2034.

North America is currently leading the medical transcription software market share 47% due to increasing government support and early EHR adoption.

The medical transcription software market includes five segments such as by product type, by deployment mode, by workflow, by end user, by pricing, by clinical speciality, by organization size, and by region.

Key trends include increasing adoption of digital technology and rising spending in healthcare.

The best free transcription software is Jamie AI, Happy Scribe, oTranscribe, Trint, Sonix, and InqScribe.

Ministry of Health and Family Welfare, Government of India, National Institutes of Health, FDA, WHO, PIB, CDC.