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 39,400 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 $450,000 in annual revenue.
- The chiropractic industry consists of about 39,400 companies, which employ 147,000 workers and generates $17.7 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
Recent Developments
Oct 2, 2024 - More Women Entering The Industry
- Educational institutions are seeing more female students enrolling in chiropractic programs, according to Chiropractic Economics Magazine. Female enrollment at Cleveland University-Kansas City was about 36% in 2009 but had increased to 51% by the fall of 2023. That’s a nearly 42%. Women are also assuming management and leadership positions, according to Chiropractic Economics. They are becoming heads of associations, directors of educational programs, and owners of private practices.
- Global merger and acquisition (M&A) activity decreased 15% year over year during the second quarter of 2024, according to GlobalData. Mergers and acquisitions have long played an important role in the life cycle of many chiropractic practices, according to Chiropractic Economics magazine. The combination of high interest rates, current valuations, and political uncertainty have negatively impacted M&A activity, according to GlobalData, but a rebound may begin before the end of the year. "Prospects of rate cuts in certain markets and an overall improving global growth outlook could drive increased activity," said Priya Toppo, Analyst at GlobalData's Thematic Intelligence. "However, mega deals will continue to face significant challenges, especially in the US, where antitrust concerns are a key focus for regulators.” An M&A transaction can help a practice expand, move into new areas of practice, and become more efficient with one simple transaction, according to Chiropractic Economics. An M&A is a proven strategy for cutting overhead costs, increasing efficiency, or battling a larger competitor.
- 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.
- Chiropractic industry sales are forecast to increase at a 6.08% compounded annual rate from 2024 to 2028, faster than the growth of the overall economy, according to Inforum and the Interindustry Economic Research Fund, Inc. Chiropractic industry employment and average wages for nonsupervisory employees increased slightly during the first seven months of 2024, according to the US Bureau of Labor Statistics.
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