In 2012, the global market was valued at $41.4 million. It is expected to grow by a compound annual growth rate of 5.6 percent, landing at $60.6 million in six years.
The United States leads the rest of the world in the medical transcription services market, and its dominance is expected to grow with the implementation of the Patient Protection and Affordable Care Act and the rise in the elderly population.
The North American market was about $18 million in 2012 and is projected to increase at a CAGR of 5 percent by 2019.
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