In 2017, the value of the chiropractic market was measured at $12.25 billion. The increasing acceptance of chiropractic care is one of the elements leading to the cost-saving benefit associated with chiropractic care.
The Food and Drug Administration (FDA) does not approve all techniques/methods in homeopathic treatment. However, when it comes to affordability and better patient outcomes, chiropractic is becoming one of the more preferred methods. One reason is that it does not involve dangerous drugs or their harmful effects.
The FDA has begun efforts to provide extensive support for chiropractic clinics, which will positiviely effect market expansion in the near future. People who seek chiropractic treatment usually opt for long-term care to combat chronic pain. Recently, we have seen an increase in the number of chiropractic clinics. The market is expanding at a fast pace in America and support in many state and local governments has had the effect of increasing chiropractic value all over the country. (source risemedia.net)
Challenges Remain
Chiropractic clinics have experienced various challenges over the past two decades due to rising healthcare costs and the economic downturn. Chiropractic offices are cut back on the cost of operations because of decreased patient volume and lowered income.
According to the U.S. Industry Statistics & Market Research report, insurance companies and Medicare have routinely made reimbursement processes difficult and time-consuming for providers.
Despite the colossal challenges, chiropractic centers have numerous positive prospects. Such centers mostly advertise that they treat neck and back pain, but they also perform long-term pain management, which is one of the main care sectors in healthcare. Here Comes the Boom
According to the “Global Chiropractic Care Market” report for 2019-2025, there will be high market growth in the near future. The research analyzed different factors that affect the market in terms of both demand and supply. It gives details about the limitations, key drivers, prospects, and trends in the forecast period.
The report also shows that over the next few years, the U.S chiropractic industry will focus on: 1). Relief care2). Corrective care3). Maintenance careThe chiropractic market in the U.S should reach over $17 billion by 2025. The increasing number of medically integrated practices and wellness centers across the country will also help in market growth. People are increasingly seeking the help of chiropractors for neck and back pain.
Further findings show that the chiropractic market will be driven substantially by the escalating number of patients seeking safer types of care. The industry will boom in the midst of the forecast period because of more and more franchise offerings, which are a ready-source of advertising and marketing revenue. (source risemedia.net)
The Future is Almost HereCurrently, there are over 10,000 chiropractic students in the U.S. – participating in graduation, post-graduation, and doctoral programs. Among them, 2500-3000 will enter the workforce by 2020 – and 4000 -5000 shortly thereafter.
As the number of patients with neck, back, and muscle pain grows, opportunities for new chiropractors and integrated health professionals will continue to mirror the demand. Over the last few years, there has been a significant increase in visits to chiropractors – showing achange in attitudes and increasing demand from consumers.
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