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2023 U.S. Industry Statistics & Market Forecast - Chiropractors
Market Size & Industry Statistics
The total U.S. industry market size for Chiropractors:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2017 2018 2019 2020 2021 2022 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The chiropractic industry has experienced significant growth in recent years, driven by a range of factors affecting both the demand for and the delivery of chiropractic care. Key trends affecting the chiropractors industry include the growing stigma of opioids and other prescription painkillers, the increasing focus on preventative care, and the rise of alternative therapies and complementary medicine.Firstly, the opioid crisis has brought a renewed interest in natural and non-invasive approaches to pain relief, making chiropractic care a highly sought after alternative. Secondly, chiropractors are increasingly being viewed as partners in overall health maintenance and prevention, rather than just for back pain treatment. This has led to a greater emphasis on patient education, wellness programs, and lifestyle changes.
Additionally, the use of mobile technology is rising, providing patients with greater availability and access to chiropractic care. Telehealth and telemedicine technologies have enabled remote consultations, follow-up visits, and appointment scheduling, all of which make chiropractic care more convenient and accessible.
Finally, chiropractors are starting to embrace a more evidence-based approach to treatment, using technology to monitor patients' progress and outcomes, and sharing data with other healthcare providers. This approach is a positive shift towards integration with other parts of the healthcare system, and may lead to greater acceptance of chiropractic care as a legitimate and effective treatment option.
Product & Services Breakdown
Research products and services in the Chiropractors industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Patient Care, Related To Icd-9 Major Category, Based On Primary Diagnosis |
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Patient Care - Infectious And Parasitic Diseases (Icd-9 Codes 001-139) |
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Patient Care - Diseases Of The Nervous System And Sense Organs (Icd-9 Codes 320-389) |
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Patient Care - Diseases Of The Musculoskeletal System And Connective Tissue (Icd-9 Codes 710-739) |
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Patient Care - Symptoms, Signs, And Ill-Defined Conditions (Icd-9 Codes 780-799) |
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Patient Care - Injury And Poisoning (Icd-9 Codes 800-999) |
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Patient Care - Supplementary Classification Of Factors Influencing Health Status And Contact With Health Services (Icd-9 Codes V |
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Patient Care - Supplementary Classification Of External Causes Of Injury And Poisoning (Icd-9 Codes E800-E999) |
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Patient Care - All Other Patient Care |
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Resale Of Merchandise |
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Resale Of - All Other Merchandise |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Chiropractors company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Chiropractors industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Chiropractors measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 2% | Order at top of page |
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| General and Operations Managers | 1% | |||
| Healthcare Practitioners and Technical Occupations | 27% | |||
| Healthcare Diagnosing or Treating Practitioners | 26% | |||
| Chiropractors | 24% | |||
| Chiropractors | 24% | |||
| Healthcare Support Occupations | 29% | |||
| Other Healthcare Support Occupations | 28% | |||
| Massage Therapists | 7% | |||
| Massage Therapists | 7% | |||
| Miscellaneous Healthcare Support Occupations | 21% | |||
| Medical Assistants | 21% | |||
| Office and Administrative Support Occupations | 41% | |||
| Information and Record Clerks | 13% | |||
| Receptionists and Information Clerks | 12% | |||
| Receptionists and Information Clerks | 12% | |||
| Secretaries and Administrative Assistants | 11% | |||
| Secretaries and Administrative Assistants | 11% | |||
| Medical Secretaries and Administrative Assistants | 8% | |||
| Other Office and Administrative Support Workers | 8% | |||
| Office Clerks, General | 8% | |||
| Office Clerks, General | 8% | |||
Chiropractors Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Chiropractors industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Chiropractors industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Chiropractors industry. |
Source:
Government Contracts
In 2022, the federal government spent a total of $555,294 on Chiropractors. It has awarded 4 contracts to 4 companies, with an average value of $138,823 per company.| Most Recent Contracts | Date | Total Award Amount |
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