First Aid Market
Number of pages: 100 | Report Format: PDF | Published date: May 10, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 184.05 million |
|
Revenue Forecast in 2031 |
US$ 287.94 million |
|
CAGR |
5.1% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Product Type, End User, and Region |
|
Forecast Period |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global first aid market was valued at US$ 184.05 million in 2022 and is expected to register a revenue CAGR of 5.1% to reach US$ 287.94 million by 2031.
First Aid Market Fundamentals
First aid is the immediate care given to an injured person before professional medical help arrives. It involves aiding to preserve life, preventing further harm, and promoting recovery. First aid can include simple actions such as cleaning and covering a wound, applying ice to an injury, administering medication, or performing basic life support techniques like CPR (cardiopulmonary resuscitation). The first aid market is driven by the growing awareness of the importance of first aid and emergency preparedness, increasing government regulations regarding workplace safety, and the rise in outdoor activities and sports participation. The market is highly competitive, with numerous companies producing and selling first aid products, ranging from large multinational corporations to small, specialized manufacturers.
The global first aid market analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the first aid market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the first aid market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
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First Aid Market Dynamics
The global first aid market is expected to grow in the coming years due to several growth drivers. Accidents and injuries are more frequent than ever before, both at home and at work. First aid supplies are in high demand because people realize how crucial it is to be ready for such emergencies. The rising frequency of traffic accidents significantly influences the first aid market. The World Health Organization (WHO) estimates that road traffic accidents cause more than 1.3 million fatalities annually and millions more injuries and disabilities. The need for first aid supplies such as first aid kits, wound care items, and sports injury supplies has increased as outdoor activities and participation in sports have increased. Another factor driving the global first aid market is the rising incidence of sports injuries worldwide. The number of injuries sustained by sportsmen and enthusiasts is rising along with the popularity of sports and exercise. The World Health Organization (WHO) estimates that sports-related incidents cause 10% of all injuries globally. Governments worldwide are enacting laws and safety requirements that mandate first aid kits and other medical supplies to always be available in workplaces and public areas. This is driving the demand for first aid products in the commercial sector.
One of the primary restraints in the global first aid market is the general population's lack of awareness and training. Many people may not know how to administer first aid properly or may not have access to appropriate first aid products. This can lead to delays in treatment and potentially worsen the severity of injuries.
First Aid Market Ecosystem
First Aid Market, by Product Type
First Aid Market, by End User
First Aid Market by Product Type
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The common-type first aid kit segment accounts for the largest revenue share in the global first aid market. Since it is a component of all first-aid procedures, these are primarily favored in residential and commercial contexts. Plasters, gauze dressings, sterile eye dressings, crêpe rolled bandages, safety pins, tweezers, scissors, alcohol-free cleansing wipes, sticky tape, thermometer, skin rash cream, insect bites and stings cream or spray, painkillers, cough syrup, antihistamine cream, distilled water, and eyewash are all common items found in first aid kits.
The market segmentation sections provide the first aid market outlook in terms of the demarcation of different consumer groups. Market segmentation is the splitting of an industry into subgroups depending on characteristics such as product type and end user. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential first aid market demand opportunities.
First Aid Market by Region
The first aid market in North America is significant globally, and it is expected to continue to grow in the coming years. Road traffic accidents are a major public health concern in North America. According to the National Highway Traffic Safety Administration (NHTSA), there were approximately 36,120 fatalities due to motor vehicle crashes in the United States in 2019. In addition, over 2.7 million injuries were reported because of motor vehicle accidents in the same year. Another factor contributing to the growth of the first aid market in North America is the increasing adoption of advanced technologies in first aid products. For example, there are now smart first aid kits that can monitor inventory levels and automatically reorder supplies when necessary, as well as mobile applications that provide step-by-step instructions for administering first aid.
Over the forecast period, Asia Pacific is anticipated to experience the fastest growth. The rise in the market is linked to the high number of fatalities in traffic accidents in nations like China and India. Additionally, the presence of nations like India, Indonesia, and Pakistan—which account for the bulk of snakebite deaths worldwide—increases demand for first aid kits in the area.
Based on the regions, the global first aid market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of first aid industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level first aid market overview.
Key Components of the Report
First Aid Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
First Aid Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
First aid is the initial assistance or treatment given to someone injured or suddenly taken ill. The purpose of first aid is to preserve life, prevent further harm, and promote recovery until professional medical help arrives.
Global first aid is expected to grow at a revenue CAGR of 5.1% during the forecast period from 2023 to 2031.
The total first aid market size is around US$ 184.05 million in 2022
The global first aid market is expected to grow significantly over the coming years, driven by several factors, such as increasing awareness about the importance of first aid, rising incidents of accidents and injuries, and the growing prevalence of chronic diseases.
Although there is increasing awareness about the importance of first aid, there still needs to be more knowledge and training among the general public. Many people need to be trained to provide first aid or may need to learn how to respond in an emergency, which can limit the adoption of first aid products.
The market size of the global first aid market is expected to reach US$ 287.94 million by 2031.
MedTree, 3M Company, Johnson & Johnson, Honeywell International Inc., and Fieldtex Products Inc. are the key players in the global First Aid market.
The common-type first aid kit segment has the highest share in the global first aid market.
Key players are focusing on developing new and innovative first aid products to meet the evolving needs of consumers. This involves investing in research and development to create easier, more effective, and more convenient products.
*Insights on financial performance are subject to the availability of information in the public domain