ECOWAS: First-Aid Kit Market 2024

First-Aid Kit Market Size in ECOWAS

The ECOWAS first-aid kit market skyrocketed to $X in 2022, picking up by 18% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +43.6% against 2017 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

First-Aid Kit Production in ECOWAS

In value terms, first-aid kit production reached $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.3% against 2018 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 31%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

First-Aid Kit Exports

Exports in ECOWAS

In 2022, the amount of first-aid boxes and kits exported in ECOWAS surged to X tons, rising by 181% against the year before. In general, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 312%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, first-aid kit exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a notable expansion. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana dominates exports structure, resulting at X tons, which was approx. 83% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), mixing up a 9.9% share of total exports. Nigeria (X kg) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to first-aid kit exports from Ghana stood at +18.5%. At the same time, Cote d'Ivoire (+42.8%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +42.8% from 2012-2022. By contrast, Nigeria (-2.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana and Cote d'Ivoire increased by +52 and +9.3 percentage points, respectively.

In value terms, Ghana ($X) remains the largest first-aid kit supplier in ECOWAS, comprising 55% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 17% share of total exports.

In Ghana, first-aid kit exports increased at an average annual rate of +18.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+53.6% per year) and Nigeria (-7.8% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with a decrease of -5% against the previous year. Over the period under review, the export price showed a pronounced decline. The most prominent rate of growth was recorded in 2014 when the export price increased by 69% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.6%), while the other leaders experienced mixed trends in the export price figures.

First-Aid Kit Imports

Imports in ECOWAS

In 2022, the amount of first-aid boxes and kits imported in ECOWAS surged to X tons, growing by 77% on the previous year's figure. In general, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, first-aid kit imports soared to $X in 2022. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 52% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

Nigeria represented the largest importer of first-aid boxes and kits in ECOWAS, with the volume of imports resulting at X tons, which was near 64% of total imports in 2022. It was distantly followed by Ghana (X tons), achieving a 20% share of total imports. Mali (X tons), Burkina Faso (X tons), Cote d'Ivoire (X tons), Niger (X tons) and Guinea (X tons) held a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of +8.4% from 2012 to 2022. At the same time, Cote d'Ivoire (+30.2%), Ghana (+17.2%), Mali (+14.9%) and Niger (+4.5%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +30.2% from 2012-2022. By contrast, Burkina Faso (-2.4%) and Guinea (-13.1%) illustrated a downward trend over the same period. While the share of Ghana (+11 p.p.), Nigeria (+5.7 p.p.), Cote d'Ivoire (+2.2 p.p.) and Mali (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Burkina Faso (-4.3 p.p.) and Guinea (-14.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported first-aid boxes and kits in ECOWAS, comprising 70% of total imports. The second position in the ranking was taken by Mali ($X), with a 7.4% share of total imports. It was followed by Ghana, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at +18.7%. In the other countries, the average annual rates were as follows: Mali (+20.0% per year) and Ghana (+14.3% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, dropping by -14.6% against the previous year. Import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, first-aid kit import price increased by +31.9% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 42%. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform