First aid kits contain medical supplies that are used for dealing with minor injuries and providing first aid or help. These kits contain basic medical supplies such as sterile bandages, band-aids, gauze, pain relievers and disinfectants to treat minor cuts, bruises, burns and stings. The rising concerns about safety and work-related injuries at homes and workplaces drives the demand for effective first aid kits.
The global first aid kit market is estimated to be valued at US$ 368.53 Bn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for first aid kits is increasing significantly due to rising safety concerns all over the world. With growing accidents occurring at homes, offices and industrial areas, the need for first aid kits is gaining immense traction. According to recent studies, most common injuries such as cuts or bruises can be easily managed with supplies contained in a first aid kit. Employers are becoming more conscious about providing medical support to employees in case of any mishaps. They are stocking workplace first aid kits with necessary supplies and medicines. Various safety standards and regulations obligate having well-equipped first aid kits at public places. The surging awareness about importance of immediate medical attention is propelling the first aid kit market growth globally.
Segment Analysis
The global first aid kit market can be segmented based on product, end-use, and geography. Based on product type, the wound care supplies segment dominates the market as it holds the largest market share. Wound care products such as adhesive bandages, gauze pads, compression bandages etc. are an essential part of first aid kits as they help stop bleeding, provide protection to wounds and promote healing. Based on end-use, the residential segment dominates the market due to rising awareness regarding safety and preparedness for medical emergencies at home.
Key Takeaways
The Global First Aid Kit Market Demand is expected to witness high growth driven by rising safety awareness at both home and workplace. Regulations mandating availability of first aid kits in organizations and public spaces is further fueling market growth.
Regional analysis: North America dominates the global first aid kit market currently however Asia Pacific is expected to be the fastest growing market during the forecast period. Countries such as India, China and Japan are witnessing rapid industrialization and economic growth which has boosted safety budgets and regulatory mandates in these countries.
Key players: Key players operating in the first aid kit market 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., Cytori Therapeutics Inc., and STEMCELL Technologies.
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