The Asia-Pacific (APAC) medical professional liability insurance market is poised for rapid growth, with a projected compound annual growth rate (CAGR) of 14.1% from 2021 to 2031, outpacing the global CAGR of 10.8%. Valued at $12.5 billion globally in 2021, the market is expected to reach $33.7 billion by 2031, driven by rising healthcare complexities, technological advancements, and increasing claims for misdiagnosis and surgical errors.

The global professional liability insurance (PLI) market, also known as Errors and Omissions (E&O) or Professional Indemnity Insurance, is projected to grow from $45.6 billion in 2023 to $81.2 billion by 2032, achieving a compound annual growth rate (CAGR) of 6.7%, according to Allied Market Research.