Global Medical Kits Market, By Product (Trauma Dressings and Equipment, Equipment, Airway Management Equipment, Drugs, Emergency Thermal Blanket, Oxygen Cylinder), Kit Types (Professional Medical Kits, Adventure Medical Kits, Sports Medical Kits, First Aids Kits, Emergency Medical Kit, Aviation Medical Kit), End User (Aviation, Defense, EMS Services, Healthcare Facilities, Academic Institutes, Vehicles (Automobiles), Sports Academies, Industries and Corporate Offices, Others) – Industry Trends and Forecast to 2029.
Medical Kits Market Analysis and Size
The medical kits market is expected to witness significant growth during the forecast period. The growing understanding of the need for immediate medical treatment for someone who has been injured in an accident is the main factor driving the market for medical kits. The market for medical kits has grown due to the availability of kits tailored to each profession's and activity's needs. Reimbursement is offered for medical kits since many areas encourage their use in all professions by offering reimbursements, this is very advantageous for the medical kit market.
Data Bridge Market Research analyses that the medical kits market which was USD 12150 million in 2021, would rocket up to USD 19394.50 million by 2029, and is expected to undergo a CAGR of 6.02% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Kits Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Trauma Dressings and Equipment, Equipment, Airway Management Equipment, Drugs, Emergency Thermal Blanket, Oxygen Cylinder), Kit Types (Professional Medical Kits, Adventure Medical Kits, Sports Medical Kits, First Aids Kits, Emergency Medical Kit, Aviation Medical Kit), End User (Aviation, Defense, EMS Services, Healthcare Facilities, Academic Institutes, Vehicles (Automobiles), Sports Academies, Industries and Corporate Offices, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Qiagen (Germany), F.Hoffmann-La Roche Ltd (Switzerland), Seegene Inc (South Korea), SolGent Co. Ltd (South Korea), Curetis (Germany), KURBO INDUSTRIES LTD. (Japan), Devex (U.S.), Thermo Fisher Scientific Inc (U.S.), Mylab Discovery Solutions Pvt. Ltd (India), Abbott (U.S.), Getein Biotech, Inc (China), Biomaxima SA (Poland), CTK Biotech, Inc (U.S), CDC (U.S.), BGI (China), Luminex Corporation (U.S.), Avellino.com (U.S.), PerkinElmer Inc (U.S.)
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Market Opportunities
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Market Definition
A medical kit is a container that contains all the necessary medications and equipment to offer medical care to someone who needs it as a result of an accident. The medical items can be collected for this purpose by any person or group, or the medical kit can be purchased independently. The numerous first aid requirements of the region where a medical kit is intended to be used and the regulatory environment of that area determine the type of medical kit that should be utilised. Customised medical kits are available for various uses, events, organisations, vehicles, or activities. This may highlight the potential dangers and accidents related to that activity. A medical kit contains items like a mask and a face shield for difficulties with the airways, breathing, and circulation. Basic drugs for trauma injuries are included in medical kits, including antiseptics, bandages, dressings, band aids, and saline.
Medical Kits Market Dynamics
Drivers
- Need for test kits in hospitals
The need for medical kits has expanded along with the coronavirus's widespread. With the aid of test kits, coronavirus identification has become more crucial than ever in order to control the infection's spread. Only specialised labs that are licenced, to conduct the tests included in this kit, which are of the serology and molecular types. As the kits are based on techniques including real-time polymerase chain reactions, IgM ELISA tests, and microneutralization assays, samples are taken from the nose, sputum test, blood sample, throat swab, and nasal aspirate for testing. The demand for the industry is growing as a result of the global coronavirus outbreak. As the number of patients in hospitals is increasing rapidly, the need for test kits to diagnose the patients with symptoms is also increasing, further driving the market growth.
- Technological Advancements in COVID-19 Rapid Testing
Vendors created a variety of innovative rapid testing kits, including cups, cards, and smart test kits. Saliva samples were employed in painless quick testing kits. Rapid testing is preferred over other COVID-19 testing kits as a result of these developments. For instance, Meril Diagnostics, an international medical firm with operations in India, produces the non-prescription CoviFind COVID-19 Rapid Antigen Self-Test, which is available and has received approval from the Indian Council of Medical Research (ICMR) for routine usage in India.
- Usage of medical kits
Large academic institutions and businesses gave their stakeholders free home test kits. This was done as a preventative strategy to provide students and workers peace of mind and aid in the epidemic's decision-making process. The government, private businesses, and academic institutions have all taken initiatives to promote the use of COVID-19 quick testing kits.
Opportunities
- Increase in the number of research and development activities
The meningococcal disease vaccine market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the meningococcal disease vaccine market growth.
Moreover, increase in the number of emerging markets and new product launches will further provide beneficial opportunities for the meningococcal disease vaccine market growth during the forecast period.
Restraints/Challenges
- Time-consuming
Time required for result is more than 24 hours which is bit longer and will act as a restraint, and further challenge the growth of the medical kits market in the forecast period of 2022-2029. The increased number of false-positive and false-negative results is one of the main drawbacks of fast testing. A set of COVID-19 test kits contained findings that were both falsely positive and false negative.
This medical kits market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical kits market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Medical Kits Market
COVID-19 had a negative impact on the market. The sudden implementation of lockdown brought a slowdown in the market's growth in 2020, the suspension of import-export transactions, the closure of labs, and the postponement of non-COVID-19 and surgical procedures. With a drop in COVID-19 cases in 2021, the lockdown was removed, markets opened, and all non-COVID-19 and surgical operations were resumed. The revenue of the medical supply market as a whole gradually increased as a result.
Recent Development
- July 7, 2021— The PHOENIX group has agreed to purchase the European businesses that McKesson Corporation (NYSE: MCK) holds in France, Italy, Ireland, Portugal, Belgium, and Slovenia. McKesson's Stuttgart-based German AG headquarters, Recucare GmbH, its German wound-care company, its shared services centre in Lithuania, and its 45 percent ownership part in Brocacef, the company's joint venture in the Netherlands, are all included in this transaction. The deal is anticipated to close in 2022, provided that the necessary regulatory approvals are obtained, among other normal closing conditions.
Global Medical Kits Market Scope
The medical kits market is segmented on the basis of product, kit types and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Trauma Dressings and Equipment
- Equipment
- Airway Management Equipment
- Drugs
- Emergency Thermal Blanket
- Oxygen Cylinder
Kit Types
- Professional Medical Kits
- Adventure Medical Kits
- Sports Medical Kits
- First Aids Kits
- Emergency Medical Kit
- Aviation Medical Kit
End User
- Aviation
- Defense
- EMS Services
- Healthcare Facilities
- Academic Institutes
- Vehicles (Automobiles)
- Sports Academies
- Industries and Corporate Offices
- Others
Medical Kits Market Regional Analysis/Insights
The medical kits market is analysed and market size insights and trends are provided by country, product, kit types and end user as referenced above.
The countries covered in the medical kits market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical kits market due to the advancing strict regulations by the government and rising population of broad technical application.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to increasing foreign investment resulting in the fastest growth in japan and china.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The medical kits market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical kits market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical kits market. The data is available for historic period 2010-2020.
Competitive Landscape and Medical Kits Market Share Analysis
The medical kits market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical kits market.
Some of the major players operating in the medical kits market are:
- Qiagen (Germany)
- F.Hoffmann-La Roche Ltd (Switzerland)
- Seegene Inc (South Korea)
- SolGent Co. Ltd (South Korea)
- Curetis (Germany)
- KURBO INDUSTRIES LTD. (Japan)
- Devex (U.S.)
- Thermo Fisher Scientific Inc (U.S.)
- Mylab Discovery Solutions Pvt. Ltd (India)
- Abbott (U.S.)
- Getein Biotech, Inc (China)
- Biomaxima SA (Poland)
- CTK Biotech, Inc (U.S.)
- CDC (U.S.)
- BGI (China)
- Luminex Corporation (U.S.)
- Avellino.com (U.S.)
- PerkinElmer Inc (U.S.)
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