Chiropractors Industry Statistics 2021The competitive $15 billion U.S. chiropractic services industry, populated by nearly 40,000 offices, held up well during the COVID-19 pandemic, being classified as 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.

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.

Top 6 Things to Know About the Chiropractic Industry

  • Chiropractor Industry Size: Marketdata estimates that 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 Chiropractors Get Paid: For the average chiropractor, as of 2019, 36.4% of their revenues come from private payment or cash. About 28.3% of cases are paid via health insurance, and 12.2% comes from property, auto and casualty insurance.
  • Typical Chiropractic Patients: A 2019 survey found that the typical chiropractic patient is female (57%) and between the ages of 30 and 64 years (46%).

The Latest Chiropractic Market Research

To learn more in-depth chiropractic industry statistics and trends, see the comprehensive new report U.S. Chiropractors: An Industry Analysis by Marketdata. The effects of the pandemic are discussed, as well as the outlook for recovery in 2021, and a long-term forecast to 2025. 


About the Author: John LaRosa is the President of Marketdata LLC and is the author of 100+ industry and market studies. His research appears in top media outlets including ABC, CNN, Fox, ForbesUSA TodayThe Wall Street JournalThe New York Times, and a variety of trade journals. 





Source link

Leave a Reply

Your email address will not be published.