October 22, 2021
New Report & Findings Released: "U.S. Chiropractors: An Industry Analysis"
The competitive $15 billion U.S. chiropractic services industry, populated by nearly 40,000 offices, held up well during the Covid-19 pandemic, with revenues actually growing 2.7% in 2020.
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.
“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.
Top 6 things to know about this healthcare sector:
Industry Size… Marketdata estimates that the U.S. chiropractic services 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. Receipts were $15.06 billion in 2019, so this means that receipts actually grew by 2.7% during 2020.
Typical 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.
Popular among consumers… It is estimated that chiropractors treat more than 35 million Americans (adults and children) annually. In 2018, 53% of U.S. adults visited a chiropractor for neck or back pain.
Competitive Market… The industry consists of 39,613 United States 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.
How They Get Paid… For the average chiropractor, as of 2019, 36.4% of their revenues come from private payment or cash. 28.3% of cases are paid via health insurance. 12.2% comes from property, auto and casualty insurance.
Typical Patients… A 2019 survey found that the typical chiropractic patient is female (57%) and between the ages of 30 and 64 years (46%).
About The Report
This new Marketdata report is a comprehensive business and operating analysis covering the nature and operations of chiropractors, industry evolution, services provided, treatment methods, key operating ratios/metrics, dollar size and growth of the industry from 2007 to 2025 Forecast, economic structure of the business (ratios: national, by state, by major city) and more.
The effects of the pandemic are discussed, as well as the outlook for recovery in 2021, and a long-term forecast to 2025. The report also analyses the average yearly revenues per chiropractor office, industry profitability, source of revenues by type insurance/payment, market share, offices by revenue size, and patient demographics, chiropractor employment and wages, $ market potentials/revenues for 50 states and 75 major cities.
How To Order The Report:
This brand new study is available via the Marketdata website, report FS 75, or by contacting Marketdata at: 813-971-8080. Price: $995. 66 pages, 45 Tables, Charts and Maps.
Press Release available upon request