Philippines: First-Aid Kit Market 2024

First-Aid Kit Market Size in the Philippines

The Philippine first-aid kit market rose slightly to $X in 2022, increasing by 1.8% against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.0% against 2020 indices. First-aid kit consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

First-Aid Kit Production in the Philippines

In value terms, first-aid kit production reached $X in 2022 estimated in export price. Overall, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 -0.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 16% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

First-Aid Kit Exports

Exports from the Philippines

In 2022, overseas shipments of first-aid boxes and kits decreased by -16.7% to X kg, falling for the fifth year in a row after two years of growth. Over the period under review, exports recorded a sharp decrease. The pace of growth appeared the most rapid in 2017 with an increase of 2,623,633%. As a result, the exports reached 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 soared to $X in 2022. Overall, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2017 when exports increased by 124,511% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Singapore (X kg) was the main destination for first-aid kit exports from the Philippines, with a approx. 100% share of total exports.

From 2014 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to -13.5%.

In value terms, Singapore ($X) also remains the key foreign market for first-aid boxes and kits exports from the Philippines.

From 2014 to 2022, the average annual growth rate of value to Singapore amounted to -5.5%.

Export Prices by Country

In 2022, the average first-aid kit export price amounted to $X per ton, increasing by 49% against the previous year. Over the period under review, the export price continues to indicate a significant increase. The growth pace was the most rapid in 2020 when the average export price increased by 480%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2014 to 2022, the rate of growth in terms of prices for Nigeria amounted to +44.3% per year.

First-Aid Kit Imports

Imports into the Philippines

First-aid kit imports into the Philippines surged to X tons in 2022, growing by 69% compared with 2021 figures. In general, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 177%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, first-aid kit imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt contraction. The growth pace was the most rapid in 2016 when imports increased by 89% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of first-aid kit to the Philippines, accounting for a 85% share of total imports. Moreover, first-aid kit imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), ninefold. The United States (X tons) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +31.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+98.3% per year) and the United States (+10.9% per year).

In value terms, Singapore ($X), China ($X) and the United States ($X) appeared to be the largest first-aid kit suppliers to the Philippines, with a combined 89% share of total imports.

Singapore, with a CAGR of +90.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average first-aid kit import price amounted to $X per ton, declining by -21.8% against the previous year. In general, the import price saw a deep reduction. The growth pace was the most rapid in 2021 when the average import price increased by 113% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :