The U.S. chiropractic market size is expected to reach USD 17.93 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to witness a CAGR of 4.32% during the forecast period. Rising cases of back, shoulder, foot, neck pain, and headaches are driving the chiropractic market in the country. This is expected to help in revenue generation. Other factors such as increasing number of chiropractors in the country would help in the market growth. The majority of people suffering from lower back pain and other such issues initially seek help from a chiropractor.
This has resulted in healthy growth in the chiropractic practices. Furthermore, it has also exhibited steadily increasing acceptance by doctors, third-party payers, and the federal government apart from patients. These factors are expected to support the market expansion. As per the American Chiropractic Association, it is estimated that by 2020, there would be ~80,000 chiropractors in the country with an addition of over ~2500 new practitioners each year graduating from colleges. Chiropractors treat an approximate 35 million patients each year in the country, which has contributed to making the U.S. chiropractic industry a significant one.
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Further key findings from the study suggest:
- The market is driven by increasing number of patients seeking complementary medical treatments rather than approved medicine
- Franchising offers a ready-source of marketing, financing, and awareness for a new entrant to establish a clinic. Moreover, it also helps the existing practitioners to expand their business
- Authorization of different set of laws for chiropractic treatment is also supporting the U.S. chiropractic market growth. This encourages more chiropractors to set up businesses
- There are currently 10,000 chiropractic students in 18 nationally accredited, doctoral graduate education programs for chiropractic therapy of which ~2500 will enter the workforce every year
- In 2017, 95% of the past-year chiropractic users cited this therapy as an effective mode of treatment. Furthermore, 97% of the users have reported to visit chiropractors if they have back/neck pain
- Some of the active institutes that offer chiropractic services in the U.S market are Magen David Community Center, Inc.; The Joint Corp.; Lbi Starbucks DC 3; Allied Health of Wisconsin, S.C., P.C.; Sherman College of Straight Chiropractic, Inc.; Chiropractic Strategies Group, Inc.; Chiro One Wellness Centers, LLC; Landmark Healthcare Services, Inc.; Parsons Gregory V Advanced Chiropractic Clinic; Silverman Chiropractic Center; Emergency Chiropractic PC; Multi-Specialty Healthcare Group, LLC.