(This post was taken from Chiro Jobs Salary Analysis 2024: Reach Out for the Full Report)

Chiropractic Profession Update: From Chiro Jobs Salary Analysis

The chiropractic profession is undergoing significant transformation due to evolving healthcare policies, technological advancements, and the emergence of private equity as a large portion of the financial growth. This dynamic landscape directly influences the salary outlook for chiropractors, requiring a nuanced analysis of current trends and future projections. This report delves into several key areas that shape the financial realities of professionals within the chiropractic field.

The chiropractic profession in the United States generates over $20.5 billion annually with 179,000 employees and 69,177 businesses (Chiropractors in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)| IBISWorld, P.8). The profession has a robust financial history with strong tailwinds. Another positive part of the industry is the low customer concentration, which encourages healthy competition and new entrants. However, the increase in consolidation in the industry may impact the barrier to entry for new clinics.

Additional Growth Factors of the Chiropractic Profession:

• Consumer Health Trends: The increasing focus on holistic and non-pharmacological approaches to health care is driving more consumers to seek chiropractic care. This trend is supported by a growing body of research that validates the effectiveness of chiropractic care for various conditions, especially back pain, which is a common issue in the U.S.
• Healthcare Integration: Chiropractors are becoming more integrated into the broader healthcare system, with collaborations between chiropractors and hospitals, as well as inclusion in many insurance plans, increasing the accessibility of chiropractic care. Current lobbying efforts in the profession also lend to an increased growth trajectory in coming years.

The profession is growing, and there is plenty of opportunity to get involved. In the past 5 years, revenue had a CAGR of 1.4% (Chiropractors in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)| IBISWorld, P.16). By 2028, the industry is projected to generate over $22.4 billion in revenue (Ibid). There is a large demand for alternative healthcare, and chiropractic care is a drug-free alternative to medical care. Furthermore, with the rise of traditional healthcare costs, chiropractic care could be a more cost-effective option.

The chiropractic profession is incredibly robust with a multitude of growth opportunities. While there are always new areas for growth and opportunities for improvement, Chiropractors must study these trends to stay at the forefront of innovation.

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