Chiropractic Medicine is an alternate form of medicine used in the diagnosis and treatment of diseases associated with the musculoskeletal system by using hands-on spinal manipulation and other alternative techniques. Chiropractic medicine is primarily used as an alternative to pain relief for muscles, joints, bones, or connective tissue. It can also be used sometimes in combination with the conventional medical treatment. The common and well known therapeutic procedures performed by chiropractic doctors is spinal manipulation. The technique of chiropractic medicine focuses on enabling the body to heal itself without surgery and conventional medication by restoring the mobility of joints which got restricted by tissue injury due to a traumatic event.
The goal of chiropractic medicine is to correct alignment problems, relaxes body and support body's natural ability to heal itself. Chiropractic doctors evaluate patients through the medical examination, laboratory tests, x-rays, etc. and after taking the complete history and diagnosing a patient, the doctor describes the comprehensive treatment plan and recommend therapeutic exercise along with nutritional, dietary and lifestyle counselling. The chiropractic medicine is used to compliment or support the medical treatment but in many cases, the chiropractic therapy may be the principal method of treatment.
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Chiropractic Medicine Market: Drivers & Restraints
The main driving factor for the chiropractic medicine market is the relief from taking medications. Multiple studies also prove the safety of chiropractic treatments than any other commonly used medical treatments; including medications, injections and surgeries for similar conditions. These factors also drive the market for chiropractic medicine market. Along with this, increasing geriatric population, increasing openness to alternative medicines and rise in disposable income also supports the market of chiropractic medicines. However, several side effects associated with the treatment, such as, aching or soreness in the spinal joints or muscles, may restrict the market growth. Unavailability of services in low and middle income countries also restrain the global chiropractic medicine market growth.
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Chiropractic Medicine market: Segmentation
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The cost of chiropractic services varies from region to region and form the service type. It is one of the major three healing professions of western world. Chiropractic physicians are trained in providing diagnostic, therapeutic & rehabilitative services along with nutritional, dietary and lifestyle counselling. In context to the rising healthcare costs, the chiropractic medicine can also be seen as an inexpensive and relatively effective treatment method. The market for chiropractic medicines is growing with increasing networking and proven results. The approach followed by one practitioner decides its sales performance and helps in developing customer base.
Geographically, the market for chiropractic medicine can be segmented into five regions, North America, Latin America, Europe, Asia Pacific and Middle East & Africa. North America has the highest market share in the global chiropractic medicine owing to the easy access to services and favorable reimbursement scenario. There are over 70,000 licensed chiropractors working in the United States today. This is followed by the European market due to the existence of many healthcare facilities providing chiropractic medicine services. Asia Pacific is expected to represent a stable growth rate during the forecast period supported by the increasing investment in healthcare facilities and rise in the healthcare spending. Latin America followed by MEA represents a slow growth rate in the chiropractic medicines market because of the out of pocket spending and less availability of these services in the region.
Some of the service providers in the chiropractic medicine 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 etc. There are however not any international service provider in the chiropractic medicine and vary from region to region.
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The report covers exhaustive analysis on:
- Chiropractic Medicine Market Segments
- Chiropractic Medicine Market Dynamics
- Chiropractic Medicine Historical Market Size
- Chiropractic Medicine Market Size & Forecast
- Chiropractic Medicine Market Current Trends/Issues/Challenges
- Chiropractic Medicine Competition & Companies involved
- Chiropractic Medicine Market Drivers and Restraints
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Regional analysis includes:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- Shifting Industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size, recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance