Medical equipment and home gym gear are going through a resurgence in popularity in the U.S. with consumers looking for new ways to stay in shape.
In 2017, consumer spending on health care equipment increased 17.6 percent compared to the previous year.
The increase was driven largely by the popularity of exercise equipment, according to the Healthcare Equipment and Home Gym Equipment Association.
That’s up from the 10.9 percent increase in 2016, according the trade group.
Medical equipment spending was up 19.4 percent in 2017, according a survey of consumers by research firm Strategy Analytics.
Consumer spending on home gym accessories was up 8.4 percentage points.
Home gym accessories were up 24.2 percent in 2016.
In addition, consumer demand for health and fitness equipment increased.
Consumers are increasingly buying fitness equipment, and the demand is increasing in tandem with the popularity, according TOYOT.
The demand for new home gym and exercise equipment is expected to continue increasing as consumers are more open to new fitness equipment.
While the demand for home gym products is increasing, there is still a gap between the price of existing home gym items and the cost of new products, according ToYOT’s Jeff Gaudreau.
Consumers have to pay twice as much for the same product to make up for the price difference, Gaudery said.
In fact, he said consumers are paying twice as little for the most expensive items compared to other items, like equipment, gym equipment and supplements.
Health care companies also are trying to capitalize on consumer demand by offering more affordable home gym hardware, which is a trend with fitness equipment companies.
Home Gym Products are a growing segment of the U