First Aid Kit Market Investment Opportunities and Future Projections
The global first aid kit market size is expected to reach USD 238.47 million by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.3% from 2020 to 2027. Increasing prevalence of hospital acquired diseases and rising hospital admissions are the key factors driving the market for first aid kit.
Road accidents are rapidly increasing and such cases require immediate first aid and medical attention. In February 2020, the WHO reported that around 1.35 million people die in road accidents every year and on an average 20 to 50 million people get injured or disabled. It also reported that road accidents are the leading cause of deaths among children and young adults aged 5-29 years. According to the Association for Safe International Road Travel (ASIRT), in U.S., over 37,000 people die in road accidents every year and an additional 2.35 million get injured or disabled.
As per the report on “Road Accidents in India (2018)” published by the Ministry of Road Transport and Highways Transport Research Wing, Government India, in 2018, 4,67,044 road accidents were reported in India. India ranks first in the number of road crash deaths across the globe, followed by China and U.S., as stated by the World Road Statistics, 2018. The WHO Global Report on Road Safety 2018 states that India accounts around 11.00% of road traffic crash deaths in the world. Road accidents victims need immediate medical attention.
Gather more insights about the market drivers, restrains and growth of the Global First Aid Kit Market
First Aid Kit Market Report Highlights
- By product, the common type kit segment held the largest market share in 2019. Common type kits are generally used in home, offices, and industrial settings and these are majorly used in every kind of first aid requirements
- Based on end use, the home and offices segment is anticipated to witness significant growth over the forecast period owing to increasing number of fall cases and rising cases of mishaps happening in kitchen in home setting
- Asia Pacific is expected to witness the fastest growth over the forecast period owing to high number of road crashes in countries, such as India and China.
Regional Insights
- North America held the largest market share of 34.5% in 2019 owing to the increasing number of road accidents and presence of key players in the region. Some of the key players operating in this region are Acme United Corporation, Certified Safety, Manufacturing, Cramer Products, Dynamic Safety USA, LLC, Green Guard First Aid & Safety, and HARTMANN.
- Asia Pacific is anticipated to witness to the fastest growth over the forecast period. The growth of the market is attributed to a large number of road crash deaths in countries, such as India and China. Moreover, the presence of countries such as India, Indonesia, and Pakistan, which constitute the majority of snakebite deaths across the globe, is expected to boost the demand for first aid kit in the region.
List of Key Players of First Aid Kit Market
- Acme United Corporation
- Certified Safety
- Manufacturing
- Cramer Products
- Dynamic Safety USA, LLC
- Green Guard First Aid & Safety
- HARTMANN
- MedTree
Order a free sample PDF of the First Aid Kit Market Intelligence Study, published by Grand View Research.
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