Marketdata LLC, a leading independent market research publisher of off-the-shelf studies about service industries since 1979, has released a new 66-page report entitled: U.S. Chiropractors: An Industry Analysis. This new Marketdata study examines the offices of chiropractors, examining the markets nature and evolution, size and growth, structure, key trends and issues, and operating metrics.
According to Research Director, John LaRosa: As the most established form of alternative medicine in the United States, the chiropractic industry has been positively influenced by favorable demographic trends, healthcare reform, and a growing acceptance of alternatives to traditional medicine.
Market Size & Growth… Marketdata estimates that the U.S. chiropractic services market is a $15 billion dollar industry that is projected to grow 4.5% annually from 2021 to 2015. Based on the ratio of payroll to sales (32.3% in 2017), Marketdata analysts estimate that receipts for chiropractors last year totaled $15.47 billion, versus $15.06 billion in 2019, so this means that receipts actually grew by 2.7% during 2020.
The industry consists of 39,613 U.S. offices of chiropractors. The market is very competitive and there are no large operators. The 50 largest firms in the market only capture 3.5% of all revenues.
The average chiropractic office nationwide was estimated to gross $380,300 in revenues in 2019, with a 28% profit margin. Revenues per office grew at a 2.8% average annual pace from 2012 to 2017.
The opioid epidemic has led many respected health groups to reconsider the value of a conservative approach to low back pain, including spinal manipulation (chiropractic), massage, heat therapy and acupuncture non-drug options.
Approximately 2,500 new chiropractors enter the profession each year in the United States. In 2019, a typical chiropractor was a White male in the age range between 30 and 59.
Its estimated that chiropractors treat more than 35 million Americans annually.
For the average chiropractor, as of 2019, 36.4% of their revenues come from patients out of pocket, 28.3% of cases are paid via health insurance. 12.2% comes from property, auto and casualty insurance.
A 2019 survey found that the typical chiropractic patient is female (57%) and between the ages of 30 and 64 years (46%).
In 2018, 53% of U.S. adults visited a chiropractor for neck or back pain.
The competitive $15 billion U.S. chiropractic services industry held up well during the Covid-19 pandemic, being an essential service. Chiropractic is now a mainstream healthcare service that provides an alternative to drugs for the treatment of pain. The field has gained legitimacy since the 1990s and future demand looks good., according to Research Director, John LaRosa.
About The Report: U.S. Chiropractors: An Industry Analysis , published in October 2021, is an independently researched market report. It contains 45 tables and is 66 pages long. It costs $995. A free brochure is available by mail, Fax, or email: Contact: John LaRosa, Marketdata LLC, 7210 Wareham Drive, Tampa, FL 33647, 813-971-8080, or: see the website: www.marketdataenterprises.com.
About Marketdata: Marketdata is a 42-year old, independent publisher of market research reports, covering a wide range of service and healthcare sectors, as well as emerging and niche markets. The firm also performs custom research projects, consulting and teleconferences. It has a YouTube channel and serves small businesses and entrepreneurs with business plans and marketing strategy. $99 Overview reports are availalbe for due diligence.