South Korea First Aid Market Size & Outlook, 2023-2030
South Korea first aid market, 2018-2030 (US$M)
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South Korea first aid market highlights
- The South Korea first aid market generated a revenue of USD 77.1 million in 2023 and is expected to reach USD 111.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.4% from 2024 to 2030.
- In terms of segment, first aid supplies - workplace was the largest revenue generating type in 2023.
- Automated External Defibrillators is the most lucrative type segment registering the fastest growth during the forecast period.
First aid market data book summary
| Market revenue in 2023 | USD 77.1 million |
| Market revenue in 2030 | USD 111.6 million |
| Growth rate | 5.4% (CAGR from 2023 to 2030) |
| Largest segment | First aid supplies - workplace |
| Fastest growing segment | Automated External Defibrillators |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | First Aid Supplies - Workplace, First Aid Supplies - Consumer, First Aid Room Equipment, Sports Care/Braces, Medicinal products, Topicals, First Aid Training products, Automated External Defibrillators |
| Key market players worldwide | 3M Co, Johnson & Johnson, Coloplast A/S ADR, Stryker Corp, Smith & Nephew PLC, ConvaTec Group PLC, Hartmann Holdings |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.7% of the global first aid market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India first aid market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 205.2 million by 2030.
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First Aid Market Scope
First Aid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea first aid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to first aid market will help companies and investors design strategic landscapes.
First aid supplies - workplace was the largest segment with a revenue share of 27.89% in 2023. Horizon Databook has segmented the South Korea first aid market based on first aid supplies - workplace, first aid supplies - consumer, first aid room equipment, sports care/braces, medicinal products, topicals, first aid training products, automated external defibrillators covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing geriatric population and growing incidence of chronic diseases in South Korea are major drivers of the market. For instance, according to the report by Statistics Korea, the number of people aged 65 years and older was 8.53 million in 2021. Furthermore, increasing healthcare expenditure and favorable government policies for approval of products have encouraged several major players to enter into this market.
Moreover, rise in elderly population is expected to drive the first aid market. For instance, as per Korea Herald, around 16.5% of the country’s population is expected to be aged more than 65 years. As elderly people are more susceptible to wounds, the South Korea first aid market is expected to witness considerable growth over the forecast period.
According to an article published in the NCBI, South Korea has made it mandatory for public facilities such as housing with more than 500 households, passenger terminals, racecourses, subway stations, prisons, casinos athletic fields with more than 5,000 seats, and government buildings to install AEDs. The government requires the registration of AEDs and the annual reporting of equipment maintenance status.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea first aid market , including forecasts for subscribers. This country databook contains high-level insights into South Korea first aid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea first aid market size, by type, 2018-2030 (US$M)
South Korea First Aid Market Outlook Share, 2023 & 2030 (US$M)
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