May 18, 2024
Global Bleeding Control Kit Market

Global Bleeding Control Kit Market is Estimated to Witness High Growth Owing to Increasing Cases of Traumatic Injuries

The global bleeding control kit market is experiencing high demand owing to the rising road accidents as well as prevalence of sports injuries and acts of violence across the world. A bleeding control kit is a first aid kit that contains medical supplies and equipment required to stop life-threatening bleeding. It contains hemorrhage control dressings, tourniquets, gauze, and medical gloves that help in controlling external bleeding until medical assistance is provided. Bleeding control kits assist laypeople, police officers, and military personnel in controlling blood loss before the patient reaches the hospital.

The Global bleeding control kit market is estimated to be valued at US$ 5,492.6 Mn in 2024 and is expected to exhibit a CAGR of 2.9% over the forecast period 2024 to 2031.

The key opportunities in the Global bleeding control kit Market Share include rise in healthcare expenditure across developing nations as well as increasing initiatives by governments and non-profit organizations to spread awareness about bleeding control measures. Technological advancements are also being made in wound dressing and tourniquets to facilitate quick and effective control of hemorrhage.

Key Takeaways

Key players operating in the global bleeding control kit market are Stryker, Aero Healthcare AU Pty Ltd, Safeguard, Tytek Group, Enerspect Medical Solutions, AED4Life, Acme United Corporation, Cardinal Health, North American Rescue, LLC., Rudolf Riester GmbH, Conney Safety, Penncare Inc., Combat Medical, TacMed Solutions, Medtrade Products Ltd, Zoro UK, Steroplast Healthcare Limited.

Market Drivers

The primary drivers for the global bleeding control kit market are growing incidences of road accidents, trauma, and sports injuries. According to the WHO, around 1.35 million people die each year as a result of road traffic crashes. Bleeding control kits can help reduce mortality in emergency situations by containing hemorrhaging until medical help arrives. Increasing military conflicts and acts of violence across the world have also augmented the demand for bleeding control equipment among defence forces. Favorable regulations and guidelines mandating availability of bleeding control resources in public places are further propelling the market growth.

Current challenges in Global Bleeding Control Kit Market:

The Global Bleeding Control Kit Market is facing challenges related to increasing cost of advanced bleeding control products. These kits require advanced raw materials and technologies in manufacturing which increases the price. This hinders the affordability of kits in low and middle income regions and countries. Another challenge is lack of awareness about usage of bleeding control kits in emergency medical situations, especially in rural areas. With limited awareness, demand is restricted. Proper training of common people as well as healthcare providers is required to enhance usage.

SWOT Analysis
Strength: Advanced bleeding control products and technologies provides effective solutions. Wide range of products suites varying needs.
Weakness: Higher costs impacts affordability and demand. Lack of awareness restricts market reach.
Opportunity: Growth in trauma and emergency care centers boosts demand. Increased awareness improves acceptability.
Threats: Price control policies may negatively impact profit margins. Strong competition from substitute products exists.

Geographical Regions with highest market share in value terms:

North America holds the highest share in the global bleeding control kit market currently, in terms of value. This is attributed to factors like established healthcare infrastructure, higher expenditure on trauma and emergency care, presence of leading manufacturers etc. Asia Pacific region is growing at a faster pace owing to rising disposable incomes, growing medical tourism industry and expansion of healthcare access in developing nations.

Fastest growing region:

Asia Pacific region is projected to be the fastest growing regional market for bleeding control kits during the forecast period. This is supported by growing economies, rising healthcare investments, increasing incomes, expanding patient pool due to growing incidences of injuries and trauma cases. Nations like India, China, Japan, South Korea are driving the market growth with their developing healthcare sectors and industrialization.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it