Singapore: First-Aid Kit Market 2024

First-Aid Kit Market Size in Singapore

In 2022, the Singaporean first-aid kit market decreased by -27.9% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2021, and then declined dramatically in the following year.

First-Aid Kit Production in Singapore

In value terms, first-aid kit production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 when the production volume increased by 8,353%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

First-Aid Kit Exports

Exports from Singapore

In 2022, after two years of growth, there was significant decline in overseas shipments of first-aid boxes and kits, when their volume decreased by -63.4% to X tons. In general, exports, however, enjoyed temperate growth. The pace of growth was the most pronounced in 2014 when exports increased by 849% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, first-aid kit exports dropped dramatically to $X in 2022. Over the period under review, exports, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2014 with an increase of 561%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for first-aid kit exports from Singapore, accounting for a 37% share of total exports. Moreover, first-aid kit exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. The third position in this ranking was taken by Poland (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia totaled +18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+0.9% per year) and Poland (0.0% per year).

In value terms, Indonesia ($X), Poland ($X) and Myanmar ($X) appeared to be the largest markets for first-aid kit exported from Singapore worldwide, with a combined 55% share of total exports.

Among the main countries of destination, Myanmar, with a CAGR of +202.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average first-aid kit export price stood at $X per ton in 2022, rising by 37% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 38% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+19.8%), while the prices for the other major destinations experienced a decline.

First-Aid Kit Imports

Imports into Singapore

In 2022, approx. X tons of first-aid boxes and kits were imported into Singapore; with a decrease of -56.2% on the year before. In general, imports, however, enjoyed a notable increase. The growth pace was the most rapid in 2014 when imports increased by 373%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, first-aid kit imports contracted rapidly to $X in 2022. Over the period under review, imports, however, recorded a measured increase. The pace of growth was the most pronounced in 2014 with an increase of 451%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and the UK (X tons) were the main suppliers of first-aid kit imports to Singapore, with a combined 68% share of total imports. Malaysia, Spain, the Netherlands, Australia and Germany lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +120.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest first-aid kit suppliers to Singapore were China ($X), the United States ($X) and the UK ($X), together comprising 69% of total imports. Malaysia, Spain, the Netherlands, Australia and Germany lagged somewhat behind, together comprising a further 25%.

In terms of the main suppliers, Spain, with a CAGR of +122.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average first-aid kit import price stood at $X per ton in 2022, with an increase of 18% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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