First Aid Kit Market Is Anticipated To Witness High Growth Owing To Increasing Outdoor Activities

 

First Aid Kit

The first aid kit market comprises first aid supplies and equipment intended to offer immediate assistance before further medical help arrives. Key products in the first aid kit include gauze, bandages, tape, antiseptic wipes, and other medical supplies. There has been a rising inclination toward participation in activities such as hiking, biking, camping, and other sports. Such activities often take place in remote locations away from immediate medical assistance. This has driven the demand for well-stocked first-aid kits. First aid kits provide critical and timely treatment for minor injuries occurring due to accidents while engaging in outdoor pursuits. The availability of compact and portable first aid kits has further supplemented their adoption.

The Global first aid kit market is estimated to be valued at US$368.53 Bn in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the First Aid Kit Market Share are Advanced Cell Technology, Inc., Angel Biotechnology Holdings PLC, Biotricity, Lineage Cell Therapeutics, Inc., BrainStorm Cell Limited., CIRM, Celgene Corporation (A subsidiary of Bristol-Myers Squibb Company), Takara Bio Inc., Cellular Engineering Technologies., and Cytori Therapeutics Inc., STEMCELL Technologies . These players are focusing on portfolio expansion and new product launches. For instance, in 2022, Johnson & Johnson launched a new first-aid kit, the "Urgent Care" kit focused on dealing with minor cuts, burns and bites.

The key opportunities in the first aid kit market include increasing availability through online retail channels and focus on customized kits catering to specific outdoor activities or sports. There is scope for global expansion in developing regions in Asia Pacific and Latin America owing to growing health awareness and outdoor recreation in these markets.

Market Drivers

Owing to the growing participation in outdoor recreational activities and sports, the demand for well-equipped first aid kits has surged. Changes in lifestyle and increased health awareness have led more people to engage in activities away from home or healthcare facilities, necessitating easy access to first aid supplies. Stringent workplace safety regulations also mandate availability of first aid boxes at all commercial establishments, driving adoption.

Market Restrains

Availability of low-cost generic alternatives and do-it-yourself first aid kits curb the sales of branded first aid medical kits. Lack of standardization in contents across various first aid kit manufacturers leads to confusion. Further, non-compliance with specified first aid kit requirements laid down by regulatory bodies restrict market growth.

Segment Analysis

The home use first aid kit segment dominates the first aid kit market due to increasing awareness regarding health, safety, and precaution. Home use first aid kits are portable and compact medical kits that contain basic medical supplies and equipment which are used to provide initial support and medical assistance by a layman until professional medical aid arrives. These kits are easily available and affordable and hence their demand is more compared to other segments.

Global Analysis

The North America region dominates the first aid kit market due to higher awareness levels andstringent regulations regarding health and safety. With availability of advanced healthcare facilities, people are more focused towards emergency preparedness in this region. However, Asia Pacific is expected to be the fastest growing market during the forecast period owing to growing awareness, rapid urbanization, and improving healthcare infrastructure in emerging economies like China and India. Countries like Japan and South Korea are also witnessing increased adoption of first aid kits at public places and workplaces due to rising healthcare concerns.

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