The Chiropractic Medicine Market is expected to grow at a stupendous rate in the next 10 years. The healthcare industry is being driven by innovation. The very idea of “Customer is the King” is being implemented. As such, healthcare IT solutions come across as a meticulous and complex system that constitutes interconnected and large-scale systems wherein micros are being worked upon. These would be the facets of the healthcare vertical going forward.
Chiropractic is a form of alternative medicine used to diagnose and treat disorders related to the musculoskeletal system through the use of manual spinal manipulation and other alternative techniques. Chiropractic is primarily used as an alternative to relieve pain in muscles, joints, bones or connective tissue. It is also sometimes used in conjunction with conventional medical treatments.
A common and well-known procedure performed by chiropractors is spinal manipulation. Chiropractic techniques focus on allowing the body to heal itself without surgery and conventional medications by restoring mobility to joints that have been limited by tissue damage due to traumatic events.
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The goal of chiropractic medicine is to correct alignment problems, relax the body and support the body’s natural ability to heal itself. Chiropractors evaluate patients through physical examinations, laboratory tests, X-rays, etc. After taking a complete medical history and diagnosing the patient, the doctor describes a comprehensive treatment plan and recommends therapeutic exercise as well as nutrition, diet, and lifestyle counseling.
Chiropractic is used to complement or support medical treatment, but in many cases chiropractic may be the primary treatment.
The major driver of the chiropractic drug market is the relief from taking the drug. Multiple studies have also demonstrated that chiropractic is safer than any other commonly used medical treatment; including medications, injections, and surgery for similar conditions.
These factors also drive the growth of the chiropractic market. At the same time, increasing geriatric population, increasing openness to alternative medicines, and rising disposable income also support the market for chiropractic medicines.
However, some side effects associated with the treatment, such as pain or soreness in spinal joints or muscles, may restrain the market growth. Unavailability of services in low- and middle-income countries also restrains the growth of the global chiropractic market.
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Chiropractic Market: Segmentation
By disease type
lower back pain and/or leg pain (sciatica)
By age group
By end user
Consultation at home
The cost of chiropractic services varies by region and by type of service. It is one of the three major therapeutic professions in the Western world. Chiropractors are trained to provide diagnostic, therapeutic and rehabilitation services, as well as nutrition, diet and lifestyle counseling.
Chiropractic can also be seen as an inexpensive and relatively effective treatment in the context of rising healthcare costs. The chiropractic drug market is growing with the addition of the network and as a result of maturity. A practitioner’s approach determines its sales performance and helps develop its client base.
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Geographically, the chiropractic market can be divided into five regions, North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America holds the highest market share in global chiropractic due to easy access to services and favorable reimbursement options.
There are more than 70,000 licensed chiropractors in the United States today. The European market is not far behind due to the presence of many healthcare facilities offering chiropractic services. The Asia Pacific region is expected to exhibit a steady growth rate over the forecast period, supported by rising investments in healthcare facilities and rising healthcare spending.
Latin America is followed by MEA, which has seen slow growth in the chiropractic drug market due to low out-of-pocket spending and the availability of these services in the region.
Some providers of chiropractic services include Back to Natural Chiropractic, Alberta Blue Cross, Dr. Spine Clinic, Hampstead Chiropractic Clinic, ChiroMatrix, Manors Chiropractic Clinic, Complete Care Chiropractic, and Jandakot Chiropractic Clinic, among others. But there aren’t any international service chiropractic providers, which vary by region.
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