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

IBISWorld’s industry research report on Personal Injury Lawyers & Attorneys can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.


Market Share of Companies
There are no companies with a dominant market share in this industry
Industry Statistics & Market Size
Annual Growth
Annual Growth

Industry Threats & Opportunities

  • Structured settlements will continue to create a steady flow of income for industry firms
  • Fewer auto accidents over the past five years has somewhat hampered industry demand
  • As the unemployment rate falls, work-related accidents will rise, helping industry revenue grow

  • shopping_cartBUY NOW TO READ MORE

    Industry Analysis & Industry Trends

    Personal injury claims are filed for incidents like 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 2021, 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...

    shopping_cartBUY NOW TO READ MORE

    Industry Report - Industry Locations Chapter

    Personal injury lawyers operate in regional markets. People throughout the United States are exposed to injuries that may result in litigation, generating demand for personal injury litigation services. As a result, the industry's firms are spread out along the lines of the population.

    Industry operators benefit from locating near urban municipalities, as they are more able to generate elevated client volumes in these areas. In 2016, IBISWorld expects that California (12.5%), Florida (9.5%) and New York (7.6%) contain the largest concentration of industry operators, and this is likely due to the great number of highly populated cities in these states.


    shopping_cartBUY NOW TO READ MORE

    Additional Insights for the Personal Injury Lawyers & Attorneys Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Personal Injury Lawyers & Attorneys Industry are

  • Ability to effectively communicate and negotiate
  • Having a high prior success rate
  • Having a good reputation
  • IBISWorld analysts also discuss how external factors such as Crime rate and Number of adults aged 65 and older in the Personal Injury Lawyers & Attorneys industry impact industry performance..

    shopping_cartBUY NOW TO READ MORE

    Look under the hood?

    Download a FREE sample report

    Industry Products

    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 - Automobile
    Medical malpractice
    Other personal injury cases
    Personal Injury - Airline
    Personal Injury - Marine
    Industry Activities
    Negligence law services
    Tort law services
    Workplace injury law services

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Crime rate
  • Number of adults aged 65 and older
  • Number of physician visits
  • Number of vehicle accidents
  • Number of work-related deaths

  • Current Performance
    Trends aiding growthImportant industry trendsOther trends in personal injury law
  • Chart: Revenue Growth

  • Industry Outlook
    Growth factorsIndustry structure
  • Table: Personal Injury Lawyers & Attorneys Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Personal Injury Lawyers & Attorneys Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Commercial Leasing
  • Computer Stores
  • Office Furniture Manufacturing

  • Products & Services
  • Personal Injury - Automobile
  • Other personal injury cases
  • Medical malpractice
  • Personal Injury - Marine
  • Personal Injury - Airline
  • Chart: Personal Injury Lawyers & Attorneys Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged 25 to 64
  • People younger than 25
  • People 65 or older
  • Chart: Major Market Segmentation for the Personal Injury Lawyers & Attorneys Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Industry profit
  • Wages and purchases
  • Rent and Utilities
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Personal Injury Lawyers & Attorneys

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Personal Injury Lawyers & Attorneys Industry

  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Personal Injury Lawyers & Attorneys Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Personal Injury Lawyers & Attorneys Industry
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Number of vehicle accidents (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
  • A legal dispute between two or more parties that seek money damages or specific performance rather than criminal sanctions.
  • Medical Malpractice
  • Professional negligence by a health care provider in which the treatment provided falls below the accepted standard of practice in the medical community and causes injury or death to the patient.
  • Personal Injury
  • A legal term for an injury to the body, mind or emotional state, as opposed to an injury to property.
  • Structured Settlement
  • A settlement arrangement in which damages are paid out over a period of time rather than all at once as a lump sum.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Personal Injury Lawyers & Attorneys:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Personal Injury Lawyers & Attorneys market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Personal Injury Lawyers & Attorneys, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Join IBISWorld today

    Contact Us

    Want to speak to a representative? Call us.