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
                                Source: Vertical IQ and Inforum

                                Recent Developments

                                Jul 7, 2024 - Labor Costs Increase
                                • Chiropractic industry employment increased slightly during the first four months of 2024 while average wages for nonsupervisory employees increased moderately, according to the US Bureau of Labor Statistics. 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.
                                • Disposable personal income, an indicator of demand for chiropractic services, increased 0.5% month over month in May 2024 while real personal consumption expenditures increased 0.3%, 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 0.5% during the period. The increase in real spending reflected increases in both goods (0.6%) and services (0.1%) outlays.
                                • Increased fundraising by private equity (PE) firms in 2023 is not expected to translate into increased health care industry deal counts in 2024, according to Home Health Care News. “Dry powder or available capital is not always indicative of future dealmaking,” Rebecca Springer, lead health care analyst at PitchBook, told Home Health Care News. “The typical investment period for a 10-year fund is five years with some additional flexibility through a number of technicalities. In 2024, we anticipate that PE health care managers will focus on deploying capital into existing portfolio companies, lower-middle-market platforms, and occasionally pursue opportunistic carve outs.” Health care’s share of global PE deal count peaked at 13.7% in 2020. That number fell to 10.8% in 2023— its lowest level since 2015.
                                • 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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