These improvements were not at the expense of worsening pain or breathlessness, the study found.
Tai Chi consists of slow, gentle, flowing movements that aim to boost muscle power, balance, and posture. It also includes mindfulness, relaxation, and breath control.
The researchers from University of British Columbia and University of Toronto in Canada wanted to find out how effective Tai Chi was in long term conditions that are common among older adults.
They wanted to find out if Tai Chi relieved symptoms, and improved physical capacity and quality of life in all four long term conditions.
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Out of 1102 articles, 33, involving 24 studies and 1,584 participants, were found to be suitable for inclusion; 21 studies were included in the pooled analysis.
The average age of participants ranged from the mid 50s to the early 70s, while the average length of the Tai Chi training programme was 12 weeks, with most sessions lasting an hour.
The results showed that Tai Chi was associated with trends, or definite improvement, in physical capacity and muscle strength in most or all four long term conditions.
This included improvements in the six minute walking test; muscle strength, as measured by bending and stretching the knees; the time it takes to get up and move known as the TUG test; and quality of life.
Tai Chi was also associated with an improvement in the symptoms of pain and stiffness in osteoarthritis and in breathlessness in COPD.
It was associated with improved sit to stand times among patients with osteoarthritis.
"Tai Chi can improve some physical performance outcomes in four chronic conditions but not at the expense of worsening pain or dyspnoea (breathlessness)," the researchers wrote, adding that it "may provide a suitable exercise stimulus for people with several comorbidities," and could be used as a complementary therapy in some long term conditions.
The study was published in the British Journal of Sports Medicine.