Strong backbone: Aging baby boomers and healthcare reform will support modest growth

Chiropractic care is the largest complementary alternative medicine in the United States. However, studies concerning the efficacy of chiropractic treatments have produced conflicting results. Due to doubt about the field's applications, industry revenue is expected to grow slowly. Despite revenue growth, the industry has consolidated in the past five years, as chiropractors have attempted to gain legitimacy and reduce costs by partnering with other healthcare professionals to establish multidisciplinary companies. Limited Medicare and Medicaid coverage of industry services, coupled with sustained public skepticism of chiropractic practices, will likely limit industry revenue growth during the next five years...read more.

Industry Statistics & Market Size
Revenue
$15bn
Annual Growth 12-17
1.1%
Forecast Growth 17-22
Profit
Employment
169,162
Businesses
68,034
Market Share of Companies
There are no companies with a dominant market share in this industry
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Industry Threats & Opportunities

  • Limited coverage and sustained public skepticism of chiropractic practices will likely limit growth
  • Chiropractors are receiving less pay for services covered under private insurance and Medicare
  • The chiropractic community will focus on demonstrating tangible results of their services
  • Industry Report - Industry Analysis Chapter

    As the most established form of alternative medicine in the United States, the Chiropractors industry has been positively impacted by favorable demographics, healthcare reform and a growing acceptance of alternatives to traditional medicine. However, rising concerns about the efficacy of chiropractic care have limited industry growth somewhat in recent years. Over the five years to 2017, industry revenue is expected to increase at an annualized rate of 1.1% to $14.9 billion. Even as public skepticism of chiropractic care remains moderately high, the sustained influx of medical care spending brought about by recent healthcare reform legislation is expected to contribute to industry revenue growth of 1.6% in 2017...purchase to read more.

    Additional Insights for the Chiropractors Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Chiropractors Industry are

  • Having a good reputation
  • Proximity to key markets
  • Development of a symbiotic relationship with another industry
  • IBISWorld analysts also discuss how external factors such as Number of adults aged 50 and older and Per capita disposable income in the Chiropractors industry impact industry performance..

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    What is the Chiropractors Industry?

    This industry includes practitioners who have a chiropractic degree. These doctors are primarily independent practitioners who diagnose and treat patients based on the concept that the nervous system coordinates all of the body’s functions. Chiropractors manipulate the spine with their hands to realign the vertebrae and relieve pressure on the nerves.

    Industry Products
  • General chiropractic care
  • Family chiropractic care
  • Sports and rehabilitation chiropractic care
  • Other patient care
  • Retail
  • Diagnostics
  • Industry Activities
  • Diagnose and treat patients
  • Provide natural, drugless, nonsurgical health treatments
  • Refer patients to or consult with other health practitioners
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of adults aged 50 and older
  • Per capita disposable income
  • Healthy eating index
  • Participation in sports

  • Current Performance
  • Demographic trends support growth
  • Consumer lifestyles and chiropractic acceptance
  • Profit growth and fraud
  • Solo versus group practices
  • Chart: Revenue Growth

  • Industry Outlook
  • Realigning perception
  • Reform boosts demand, shrinks profit
  • Geriatric services
  • Table: Chiropractors Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Chiropractors Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Life Insurance & Annuities
  • Health & Medical Insurance
  • Primary Care Doctors
  • Specialist Doctors

  • Key Selling Industries
  • Diagnostic & Medical Laboratories
  • Glasses & Contact Lens Manufacturing
  • Medical Instrument & Supply Manufacturing

  • Products & Services
  • General chiropractic care
  • Family chiropractic care
  • Sports and rehabilitation chiropractic care
  • Retail
  • Diagnostics
  • Other
  • Other patient care
  • Chart: Chiropractors Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Private health insurance
  • Patients paying out-of-pocket
  • Medicare and Medicaid
  • Auto insurance
  • Workers' comp
  • Other
  • Chart: Major Market Segmentation for the Chiropractors Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Rent and utilities
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Chiropractors

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Chiropractors Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Chiropractors Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Chiropractors Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of adults aged 50 and older (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Adjustments
  • A technique involving the application of a thrust to specific bones that is meant to help relieve pressure from spinal nerves.
  • Musculoskeletal
  • Structures involving tendons, muscles, ligaments and joints.
  • Spinal Manipulation
  • A forceful, high-velocity thrust that stretches a spinal joint beyond its passive range of movement in order to increase its mobility.
  • Subluxation
  • An incomplete or partial dislocation of a joint or organ.
  • Why buy this report?

    IBISWorld’s industry research report on Chiropractors provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Chiropractors:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Chiropractors market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Chiropractors, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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