First Aid Increasing Research and Development Projects to Spell Growth of the Market

Future Market Insights (FMI) forecasts the China First Aid Market to grow at a CAGR of 6.3% between 2015 and 2020 in its latest report, "China First Aid Market Assessment and Opportunity 2014 - 2020." Adoption of aggressive promotional campaigns is a key factor driving market growth.

The report focuses on basic first aid supplies like adhesive bandages, disinfectants, and gauzes. Though the basic wound care segment in China accounts for a small portion of the overall wound care market in China, it is expected to grow significantly in the coming years. The primary driving factor for the market in the region is growing consumer awareness of non-traditional first-aid products in Tier 2 and Tier 3 cities.

Basic first aid products accounted for less than 20% of the overall wound care market in China in 2014. Innovative product packaging, combined with aggressive market campaigning, has resulted in a surge in demand for these products in China. Other key driving factors of the Chinese first aid market include government emphasis on healthcare policies, liberalisation of licencing policies, and FDI influx. On the other hand, low healthcare expenditure and a consumer preference for Chinese traditional medicines are major constraints for non-traditional wound care product manufacturers.

The report examines the China first aid market in terms of sales revenue (US$ Mn) by product, city, and retail sales channel, and includes information on market dynamics, the value chain, the competitive landscape, current trends, market estimations, and forecast.

The China first-aid market has been divided into three categories based on city: Tier 1, Tier 2, and Tier 3. Among Tier 1 cities, Shanghai provides good market opportunities for manufacturers of first-aid products. It is expected to generate 1.4X more sales revenue by the end of the forecast period than in 2014. Disinfectant products are expected to account for more than half of sales revenue in Tier 1 cities, followed by gauze and bandages. By the end of 2020, Tier 2 cities are expected to generate 1.3X more revenue than Tier 3 cities.

Drugstores and pharmacies are important retail sales channels for adhesive bandages. Gauzes are primarily sold through hospitals. Hospitals account for a significant portion of retail sales in China's Tier 3 cities. Despite the fact that drugstores, pharmacies, and hospitals are important retail sales channels for adhesive bandages and gauzes, modern retail sales channels are the preferred mode for disinfectant sales. Supermarkets and hypermarkets account for more than 60% of disinfectant retail sales.

The China first aid market is divided into three product categories: adhesive bandages, gauzes, and disinfectants. While disinfectants are expected to be the largest market segment throughout the forecast period, their presence in China is restricted to Tier 1 and Tier 2 cities. The disinfectant products segment is expected to grow at a 7.5% CAGR between 2014 and 2020. Reckitt Benckiser and Walch are two major players in this market. In the disinfectants products segment, organised players hold a sizable market share. Among products, gauzes have a significant market share in China's Tier 3 cities. Adhesive bandage sales revenue is further subdivided into butterfly stitches, transdermal bandages, and special bandages. Transdermal bandages have a sizable market share in the adhesive bandages segment.

Key players in the China first aid market include:

  • Johnson and Johnson
  • Winner Medical Group Co.
  • Reckitt Benckiser
    Yunnan Baiyao
  • 3M Company
  • Nepstar Drugstore
  • 7-Eleven
  • Beijing Hualian Group
  • A.S Watson Group.

Key Segment By Product Type

  • Bandages
  • Gauzes
  • Disinfectants

Browse More@ https://www.futuremarketinsights.com/reports/china-first-aid-market

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