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...