Michigan-based chiropractor Dr. Scott Zack takes a closer look at the $17.93 billion mid-2020s valuation placed on America’s chiropractic care market following a new study.
Forecast for explosive growth based on a new study carried out by a well-known California-based action-ready market research and analysis firm, plus further figures from the American Chiropractic Association, experienced chiropractor Dr. Scott Zack examines the future of the chiropractic care market in the United States.
“The chiropractic care market in the U.S. is set to reach almost $18 billion annually over the course of the next five years according to a new study,” reveals Dr. Zack.
Indeed, the recent study referred to by Dr. Zack and carried out by Grand View Research, Inc. estimates that the chiropractic care market in the U.S. will reach an annual value of $17.93 billion by 2025. Based in San Francisco, Californian business consulting firm Grand View Research offers custom market analysis and action-ready market research reports, according to the company’s website.
“The market is anticipated to enjoy a compound annual growth rate of 4.3% between now and 2025,” adds Dr. Zack of the report’s findings.
An experienced and well-respected chiropractor based in Bloomfield Hills, Michigan, Dr. Zack proposes that rising cases of back, neck, and shoulder pain, as well as associated headaches and other discomfort tied to the body’s musculoskeletal system, are all driving the chiropractic care market in the United States.
“Moreso than ever before, the vast majority of people complaining from lower back pain, in particular, are seeking immediate help directly from chiropractors,” explains Dr. Zack, “rather than hesitating, and without otherwise looking for a referral from a family doctor or mainstream healthcare provider.”
This, he suggests, has resulted in a healthy increase in the number of individuals seeking chiropractic training and qualifications. “With national demand for chiropractic care services growing year on year, it’s an area of healthcare specialization which myself and my colleagues are all keen to champion,” adds Dr. Scott Zack,“making chiropractic qualifications and training an especially valuable asset in today’s health and wellness climate.”
As of 2019, the American Chiropractic Association suggests that in excess of 2,500 new practitioners will graduate from the country’s 18 nationally accredited chiropractic colleges and education programs annually over the course of the coming five or more years.
“Other key findings from the Grand View Research study indicate that today’s chiropractic care market is being further driven by increasing numbers of patients looking for complementary medical treatment, rather than mainstream care,” reveals Dr. Zack. “What’s more, the introduction of a new set of laws for chiropractic treatment is also supporting market growth, while simultaneously encouraging more people to enter the field,” he adds.
“Lastly,” says Dr. Scott Zack, wrapping up, “the study also shows that, during 2017-2018, 95% of those who sought past-year chiropractic care cited their therapy as an effective method of treatment for their neck, back, or other musculoskeletal pain which is further basis for the rapid growth forecast for the U.S. chiropractic market between today and 2025.”