First aid kits are portable kits that contain medical supplies essential for rendering basic first aid treatment. These kits are designed for personal or workplace use to provide emergency treatment of minor injuries like cuts, burns, or sprains before medical treatment can be accessed. They contain various supplies like gauzes, bandages, antiseptic creams, wound disinfection materials, and over-the-counter medication for pain, swelling, fever, etc. First aid kits are offered in different sizes and varieties depending upon their intended use. For instance, travel kits are compact while workplace or industrial kits may include supplies for more severe injuries as well.
The global First Aid Kit Market is estimated to be valued at US$ 319.9 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
It allows patients to get in touch with doctors virtually and get first-aid or basic medical advice remotely without having to physically visit a clinic or hospital. This has boosted self-care and offers convenience of access to medical help anytime. As more people are relying on self-treatment and first aid using telemedicine advice, the demand for first aid kits to enable at-home care is rising. Moreover, increasing awareness about workplace safety and preparedness is also fueling the adoption of comprehensive first aid kits across industrial, commercial and institutional facilities. Proper medical kits help address minor injuries or health issues in such settings without disrupting work or operations.
Segment Analysis
The global first aid kit market can be segmented based on type, end use, and geography. Based on type, the market is segmented into common type kits, specialty type kits and multi-purpose type kits. The common type kits segment dominates the market as these basic first aid kits contain materials to treat minor injuries and wounds. These kits are affordable and widely used across households, schools and workplaces.
PEST Analysis
Political: Governments across various countries have made basic first aid training mandatory for certain occupations like school teachers, drivers etc. which boosts the demand for first aid kits.
Economic: Rising disposable incomes have increased spending on health and safety products like first aid kits globally.
Social: Growing awareness about safety and preparedness for medical emergencies is driving the adoption of first aid kits.
Technological: Manufacturers are developing first aid kits equipped with telemedicine technologies to enable remotemedical assistance in emergencies.
Key Takeaways
The Global First Aid Kit Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis shows North America dominates the global first aid kit market currently due to stringent workplace safety regulations and higher spending on health and safety products in the region.
Key players operating in the first aid kit market are 3M Company, Acme United Corporation, AdvaCare Canadian Safety Supplies, Beiersdorf AG, Certified Safety Manufacturing, Cramer Products, Dynamic Safety USA, and Fieldtex Products Inc. among others. Key players are focusing on developing technologically advanced first aid kits to cater to rising demand.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
