The increasing number of civil lawsuits across the globe coupled with the rise in lawsuit expenses, for both litigants and law firms, are intensifying the demand for lawsuit financing among law firms and individuals. According to studies, United States records approximately 40 Mn civil lawsuits every year. The country has also experienced a surge in business-to-business lawsuits and individual-business lawsuits over the year. The burden of lawsuits has a negative impact on businesses, which in few instances has even led to their bankruptcy. Hence, in order to avoid such circumstances, businesses are increasingly opting for lawsuit financing to handles the cost of lawyers and other litigation charges. This surge in demand for financing alternatives concerning legal matters among the corporate sector is contributing towards the growth of global lawsuit financing market. Rising investment in the lawsuit financing market coupled with new companies entering the market is expected to influence the growth of the market over the forecast period. For instance, Legalist Inc., based in United States, in 2019, secured a funding of US$ 100 Mn to invest in the expansion of its business across its investment in civil lawsuits on behalf of their client. The lawsuit financing market has also experienced a surge in the number of players entering the market. The rage in popularity of lawsuit financing along with high rate of return on successful cases is driving the growth of new entrants in the lawsuit financing market. For instance, LexShares, Inc., a litigation financing firm, encountered a win rate of 70% from the 43 cases that they resolved since their inception in 2014. The average return from these cases, after the basic deductions, was highlighted as about 52% by the company. Similar lucrative aspects have encouraged new players to enter into the market, which is anticipated to accelerate the growth of the lawsuit financing market across the globe over the forecast period.
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The outbreak of the Covid-19 is expected to positively impact the lawsuit financing market over the coming years. Rising lawsuits across developed and developing countries regarding business and properties, post lockdown is expected to increase thereby positively affecting the global lawsuit financing market. The adverse impact on the economy of the world has weakened the financial strength of business, law firms and individuals to support a prolonged case. Thus, the rising demand for financial support for bearing litigation expenses, by both litigants and law firms, are expected to influence the demand for lawsuit financing, thereby boosting the growth of the market over the future years. Rising government initiatives to promote third party funding or litigation finance during the pandemic is also expected to stimulate the growth of the market. For instance, the Supreme Court of Canada have eased the availability of third-party funding in Canada to assists businesses who are in distress with legal proceedings. Thus, the favourable government initiative is expected to booth the demand for lawsuit financing over the forecast period.
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The detailed research study provides qualitative and quantitative analysis of global lawsuit financing market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Global Lawsuit Financing Market:
- By Litigation Funding Type
- Consumer Litigation Funding
- Commercial Litigation Funding
- By End User
- Individual
- Businesses
- Small and Medium Law Firms
- Large Law Firms
- Attorneys
- By Case Type
- Class Action Lawsuit Funding
- Labor Lawsuit Funding
- Medical Malpractice Lawsuit Funding
- Personal Injury Lawsuit Funding
- Workers’ Compensation Claim Funding
- Others
- By Region:
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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