Industry Economics

Consumer interest in the Alternative Healthcare Providers sector is increased in tandem with raising per capita disposable income and a more health-conscious populace.

The presumed advantages and effectiveness of specific treatment practices drive demand for complementary care, as patients are less likely to cut healthcare spending than they are to cut spending on discretionary products.

Furthermore, as the number of individuals with disabilities increases, more insurance providers and businesses see the value of covering complementary healthcare.

Revenue is forecast to increase at a 2.2 percent annualized rate to $20.0 billion over the next five years.

The Audio and Video Equipment Manufacturing industry manufactures electronic audio and video equipment for home entertainment, motor vehicles and instrument amplification.

Over the five years to 2020, technological changes and shifts in media and entertainment consumption have posed significant challenges to the industry.

Revenue is expected to decline, decreasing at an annualized rate of 6.8% to $2.3 billion.

In 2020 alone, revenue is expected to fall 27.2% due to the COVID-19 (coronavirus)-induced temporary closure of industry establishments and contraction in downstream demand.

The ATV, Golf Cart and Snowmobile Manufacturing industry manufactures all-terrain vehicles (ATVs).

snowmobiles, golf carts, personal watercraft and other transport equipment.

The industry also includes businesses that manufacture equipment and parts for the aforementioned transport equipment.

Because industry products are considered discretionary, demand for products is generally influenced by the state of the economy.

Therefore, the COVID-19 (coronavirus) pandemic has negatively affected the industry.

As unemployment has increased due to the pandemic, more consumers have experienced weakened levels of disposable income.

This trend explains why many consumers are putting off purchasing high-value items, such as recreational vehicles, hindering industry revenue over the five years to 2020.

Consequently, industry revenue has decreased at an annualized rate of 5.8% to $7.3 billion over the five years to 2020.

In 2020 alone, industry revenue is expected to decrease 16.0% due to the effects of the coronavirus.

Automated Teller Machines (ATMs) play a vital role in consumers’ daily lives, providing convenient access to cash and banking services.

Despite increased online banking activity and greater use of credit cards, they have steadily been used by US consumers to facilitate the purchase of goods and services.

However, the ATM Manufacturing industry has experienced a sharp sales decline over the five years to 2020 including a COVID-19 (coronavirus) induced decline of 11.5% in 2020.

ATMs have a long useful life and the domestic market is highly saturated, so demand for new ATMs has been weak.

In addition, impending regulations have reduced sales over the past five years among downstream customers uncertain of the implications for their ATMs.

Also, imports have grown since 2015, hurting domestic manufacturers.

As a result, over the past five years, industry revenue is expected to drop at an annualized rate of 2.5% to $184.7 million, over the five years to 2020.

The Athletic Shoe Stores industry has grown strongly over the five years to 2020 due to economic growth and rising sports participation.

The public is becoming increasingly aware of the obesity epidemic in the United States, stirring up a wave of health consciousness that has encouraged Americans to exercise and consequently buy athletic shoes.

Furthermore, increased athletic activity creates more wear and tear on athletic shoes, necessitating more frequent purchases to replace worn-out footwear.

As a result, Research estimates that revenue will grow at an annualized rate of 1.3% to total $16.1 billion over the five years to 2020.

Revenue is estimated to rise 1.1% in 2020 alone, as rising disposable incomes enable consumers to afford premium-priced shoes.

Operators in the Athletic Event Organizers industry organize athletic events that do not require facilities, such as marathons, cycling competitions and obstacle courses.

The industry benefited from increased corporate spending on employee wellness events, such as company-hosted marathons, over the five years to 2020.

Furthermore, events tailored toward sports enthusiasts and large-scale marathons increased in popularity during the period.

Combined with positive conditions in the US economy that encourage spending on events, such as rising consumer spending and advertising expenditure, these trends enabled the industry to expand.

In 2020, however, the industry has been drastically impacted by the COVID-19 (coronavirus) pandemic, which has caused the cancelations of public gatherings, such as those organized by industry operators.

Over the five years to 2020, Research expects industry revenue to decline at an annualized rate of 3.8% to $1.6 billion, due entirely to an expected 38.7% drop in 2020 alone, the first year of decline since 2011.

The average industry profit margin (measured as income before interest and taxation) is also expected to plummet as a result of the coronavirus pandemic.