New Medico-Legal and Insurance Services Report published
13 Jul 2020
The medico-legal and insurance services market worth over £750 million
The Medico-Legal and Insurance Services (MLIS) market covers a range of medical and medical-related services offered to legal services companies, insurers and possibly to employers. The range of services offered can be split into two broad categories: Medical evidence (ME); and Rehabilitation and allied medical services (RAMS).
The market for medico-legal and insurance services (MLIS), estimated at over £750 million in 2019, with the market rising by just over 1% compared with 2018. The rate of growth in the market has noticeably slowed since 2017, with any growth driven by the high-end catastrophic injury segment of the market. Despite its size, it is mainly home to small companies but significant consolidation is now taking place in the market with important groups formed in recent year.
The Coronavirus pandemic which hit the UK strongly in March 2020 is having a major impact on the MLIS sector. It has radically changed working practices and reduced the number of medical staff able to act as expert witnesses and led to a significant decline in activity. Moreover, with fewer people travelling on the roads, fewer visiting shops and public places and fewer working in offices etc. the number of claims likely to come through the system in the coming months will also decline. COVID-19 comes on top of longer-term issues impacting the market which are likely to cut activity going forward. These include The Civil Liabilities Act and MedCo reforms, which are due to come into force in August 2020, intense competition for scarce medical skills, previous legal reforms which have cut the number of whiplash and soft tissue injuries requiring medical reports and continued pressure on medical experts.
The medico-legal and insurance services market report
This report considers the market structure, recent developments and market drivers, the key players, the market size and trends and the future. The accounts of over 100 companies operating in the market were studied for this report.
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