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Personal Injury Lawyers & Attorneys in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Personal Injury Lawyers & Attorneys Market Research Report | Advisory & Financial Services | Law Firms | Apr 2015

Personal payback: Demand for personal injury lawyers will likely grow in line with the aging US population

IBISWorld’s Personal Injury Lawyers & Attorneys market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$35bn
Annual Growth 10-15
2.3%
Annual Growth 15-20
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Profit
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Employment
92,974
Businesses
58,952
Industry Analysis & Industry Trends

Personal injury claims are filed for incidents such as road traffic accidents, workplace accidents, assaults, accidents in the home, defective product-related accidents and medical malpractice. Demand for personal injury lawyers exists regardless of the economic climate, and the industry weathered the recession well. Over the five years to 2020, medical malpractice suits will likely become more common, as the US population ages. The increasing popularity of structured settlements, which enable the negligent party to pay over a period of time rather than in one lump sum, will stabilize revenue for personal injury lawyers.... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Personal Injury Lawyers and Attorneys industry is in the mature stage of its life cycle. In the 10 years to 2020, the industry's contribution to the overall economy, which is measured by industry value added (IVA), is expected to grow an annualized 3.3%. During the same time, GDP is expected to grow an average annual 2.5%, indicating that the industry is growing roughly in line with the overall economy.

Legal industry services will always be needed because negligence and personal injury disputes require a legal framework. The industry also helps define and regulate important aspects of personal conduct. While these factors make the law dynamic and create new areas of growth, it is not likely that many new markets and customers will emerge... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Personal Injury Lawyers & Attorneys Industry?

This industry comprises legal practitioners (i.e. lawyers or attorneys) that primarily practice personal injury law.

Industry Products
Personal Injury - AutomobileMedical malpracticeOther personal injury casesPersonal Injury - Airline Personal Injury - Marine
 
Industry Activities
Negligence law servicesTort law servicesWorkplace injury law services


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