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CA
Value of medico-legal market tops £700m
['Nick Hilborne']
Legal Futures
The value of the medico-legal market is back above £700m for the first time since 2019 amid concerns about a shrinking pool of experts, research has found.
It estimated that the overall value of the medico-legal market last year was £705m, an increase of 4.1% on the year before.
Market value peaked at £791m in 2019, before the pandemic sent it plummeting to a low of £618m in 2021, since when it has made a steady recovery.
IRN said the larger medico-legal players would maintain growth through “IT investment, some costs savings, and the development of a broader services base”.
However, the total value of clinical negligence claims settled last year increased by 4.3% to £173m.