Chiropractic Clinics

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 39,000 chiropractic clinics in the US provide care that is focused on the spine and neck to patients suffering from disorders or injuries to the musculoskeletal system. Chiropractors may specialize in sports medicine, neurology, pediatrics, orthopedics, nutrition, or radiology. Some practices offer health and wellness counseling, as well as nutritional supplements.

Competition from Other Providers

In addition to chiropractors, other medical providers, such as physical therapists and osteopaths, can treat patients for back or joint pain.

Growing Acceptance of Chiropractic Care

Changing perceptions of alternative medicine and more rigorous educational requirements have led to gradual acceptance of chiropractic care.

Industry size & Structure

A typical chiropractic clinic operates out of a single location, employs about 3-4 workers, and generates $385,000 in annual revenue.

    • The chiropractic industry consists of about 39,000 companies, which employ 146,000 workers and generates $16.3 billion annually.
    • Most chiropractors are solo practitioners who own and operate a single clinic. About 95% of chiropractic clinics employ less than 10 workers.
    • No national chiropractic chains exist. The largest chains are confined by state boundaries.
    • Half of all patients suffering from persistent back pain receive chiropractic treatment.
                                Industry Forecast
                                Chiropractic Clinics Industry Growth
                                Source: Vertical IQ and Inforum

                                Recent Developments

                                Feb 2, 2024 - Moderate Sales Growth Expected
                                • Chiropractic industry sales are forecast to increase at a 6.17% compounded annual rate from 2022 to 2027, faster than the growth of the overall economy, according to Inforum and the Interindustry Economic Research Fund, Inc. Industry labor costs increased during 2023 as employment increased slightly while average wages for nonsupervisory employees increased moderately, according to the US Bureau of Labor Statistics.
                                • Personal income, an indicator of demand for chiropractic services, increased 0.3% month over month in December 2023, while personal spending increased 0.7%, according to the US Commerce Department's Bureau of Economic Analysis (BEA). Real disposable personal income, what Americans make after adjusting for inflation and taxes, increased 0.3%. "The report showed steady income growth and good spending, together with the Fed’s preferred inflation measure finally falling below 3%,” said Robert Frick, corporate economist at Navy Federal Credit Union.
                                • The chiropractic community is an enthusiastic adopter of CBD use, according to Chiropractic Economics, and while products containing CBD extract are legal in all 50 states, each state has specific restrictions on how CBD products can be marketed. While the 2018 Farm Act legalized CBD federally, its language was worded such that it was largely left up to each state’s discretion to determine its own legal parameters, meaning CBD (as opposed to CBD extract) remains illegal in some states (e.g., Idaho, Nebraska, and North Dakota) These restrictions have hampered chiropractors’ ability to market CBD products to their patients. Roughly 26% of Americans use CBD in some form, according to Chiropractic Economics. Approximately 64% of CBD users turn to the products for pain management.
                                • Chiropractic practices have begun targeting electronic sports injuries as a new revenue source. eSports, Electronic sports, also known as eSports, are competitive sports played via video games. Experts say that eSports injuries are increasing among middle school, high school, and especially college-age students. Millions of fans watch eSports athletes at live events or online. Major colleges now host eSports teams at their universities, and like athletes competing in more traditional sports, eSports athletes can also be injured, with many suffering overuse injuries.
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