Strength Training Equipment Market research is provided on all the vital factors such as consumer needs and trends those will create significant impact on the present and future market situations. Strength Training Equipment Market report will help buyer to minimize the decision associated risks and to create results driven business strategies.
The report starts with terms and definitions associated with Strength Training Equipment market. It slowly advances towards the past situations and their analysis. This analysis along with current situations provides necessary base to understand how market have evolved and achieved growth.
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Next part of the Strength Training Equipment market report focuses on the key vendors operating in this industry categorized based on their focus on regions, product segments, product portfolio, organizational development etc. The report provides such analysis of
- Cybex International
- ICON Health and Fitness
- Paramount Health Group
- Precor and many more.
- ICON Health and Fitness
The year-over-year growth pattern is also discussed in depth. Similarly, the report also presents analysis of Strength Training Equipment Market Ecosystem, Characteristics, Segmentations by geography as well as by product and applications. Regional comparison between the major regions viz. Americas, APAC, EMEA are also explained which point outs the leading countries or regions.
Further report provides attention to the present Strength Training Equipment market drivers, challenges, trends, and opportunities along with their impact on the market which are decisive parameters for product and business strategies.
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Strength Training Equipment Market driver
One driver in market is increasing healthcare costs. Healthcare costs have been rising over the past decade owing to a surge in the prices of drugs, medical devices, and hospital care. Healthcare costs in the US increased by over 91% between 2000 and 2016. In the Americas, the average cost of a healthcare plan for families has been more than $18,000 since 2015. One of the reasons behind the increase in healthcare cost is an increase in the demand for specialty medicines due to the rise of chronic diseases and obesity rates across the world. Due to a rise in healthcare costs, consumers have resorted to exercising as a preventative measure, leading to an increase in the demand for strength training equipment. Strength training equipment helps in losing weight and protecting bone health and muscle mass, making one stronger and fitter, thereby playing an important role in disease prevention without the use of medicine.
Strength Training Equipment Market challenge
one challenge in market is high cost of building home gyms. The cost of building a home gym is very high. Building a home gym with the most basic equipment costs around $1,000, while building a fully equipped home gym can cost between $1,150 to $2,200, and this is not affordable for every individual. Thus, the expensive nature of strength training equipment limits their purchase by individual users. Most users in developing countries are reluctant to purchase branded fitness equipment for individual use because of their high price. The high cost of branded equipment only allows the high-income group to use them for individual use. This is the biggest challenge impeding the growth of the market in many developing countries of the world, including India and China.
Strength Training Equipment Market trend
One trend in market is increase in obese population. Currently, obesity has become very common, and the WHO has formally declared obesity as a global epidemic. In 2013, the American Medical Association classified obesity as a disease. In 2014, one-third of the world’s population was found obese with most of the obese people living in the US, China, India, Russia, Brazil, Mexico, Egypt, Germany, New Zealand, Australia, the UK, Pakistan, and Indonesia. New Zealand accounted for a share of 38% of the world’s obese population in 2013, followed by Australia and the UK with shares of 37% each. Obesity rates are rising worldwide. Thus, consumers are becoming increasingly conscious and taking precautions by joining gyms, health centers, or fitness clubs or engaging in physical activities at home. This is increasing the demand for strength training equipment
Strength Training Equipment Market report also includes five forces analysis and SWOT analysis which are effective to analyse the market situations and to know your competitive advantage over other players. It is also well-known tool used to analyze and improve the weakness in your business to achieve both stronger and profitable market position in the Strength Training Equipment market.
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Long story short, Strength Training Equipment Market report fulfill need of detailed and actionable Strength Training Equipment market data on each vital parameter to make informed decisions.