Chiropractic is a healthcare profession that essentially aims to diagnose patients’ musculoskeletal and nervous system disorders and how these disorders affect their overall health. The focus is on the spine, connective tissue, bones, joints and muscles, with an emphasis on treatment through manual adjustment of the affected area by the doctor.
The globe Chiropractic Market which was US$576.88 million in 2018 and is expected to reach US$847 million by 2025, at a CAGR of 5.64% over the forecast period
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Growth by Region
North America had the largest market share in 2018 due to the presence of a large number of chiropractic educational institutions, the benefits of chiropractic treatment and the significant cost savings associated with it. On the other hand, Europe ranks second due to the increase in medical supply units combined with the growth of medical infrastructure and other clinical activities. The Asia Pacific region is also one of the lucrative markets for the market and is showing noticeable growth due to the increasing awareness of chiropractic care by doctors via social media.
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Drivers vs. Limitations
The market is primarily driven by the increasing prevalence of obesity in humans coupled with patients’ preference for immediate relief that will help them return to their normal lifestyle without much loss of time. However, the growth of the global chiropractic market is hampered by the low penetration rate in emerging markets, as well as the lack of awareness, affordability and patient reluctance to use such services.
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Industry trends and updates
Cornerstone Chiropractic, a renowned chiropractic wellness and care center in the United States, has opened its new business unit in Poplarville to provide service and care to patients in the area.
Midtown Chiropractic, one of the best-known chiropractic and wellness centers in the United States, has installed new equipment at its center, completing a $16,000 renovation of its new office to serve patients and reduce healing time.