LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global ocean safety first aid kit market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Neelesh Prakash Singh, a lead analyst from Technavio, specializing in research on power sector says, “The increasing seaborne trade is driving the global ocean safety first-aid kits. Seaborne trade involves being off-shore for multiple days in distant locations. Therefore, marine supervisors make sure that their vessels are equipped with proper safety measures that include personal floatation devices and first-aid safety kits.”
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The top three emerging market trends driving the global ocean safety first aid kit market according to Technavio research analysts are:
- Rising innovations in bandages
- Evolving product formats
- Increased overfishing resulting in stringent norms
Rising innovations in bandages
A bandage is a key component of any first-aid kit, including ocean safety first-aid kit. Injuries such as cut and abrasion require bandages for treating wounds. However, vendors are introducing various kinds of bandages such as compression bandage, gauze bandage, triangular bandage, and tube bandage. In 2016, Searchlight Pharma launched LIMISAN, a painless adhesive bandage remover that comes in a spray format and can be an essential part of first-aid kits. This spray, when applied to dressed wound areas, forms an invisible layer that breaks the adhesive bond between the skin and bandage. This can help in removing the bandage without pain, leaving a clean surface without residue.
Evolving product formats
Vendors in the market are offering first-aid kits with easy-to-use features and innovative packaging. This packaging enables users to appropriately pick essential items for specific injuries. Various colored compartments in a kit help users in identifying products easily during any panic situation. Falck, a vendor providing products for security and rescue, teamed up with Designit, another vendor providing design solutions, to offer a new first-aid kit characterized with color coding for user friendliness. The red-colored compartment is for injuries related to blood and yellow is for bruises and sprains. Likewise, various components can be classified and placed in respective compartments.
“Vendors such as Lifesystems offer first-aid kits that not only contain essential first-aid components but the kits are made up of waterproof material that can be used during water recreational sports or any coastal tactical operations. Such innovations in product presentation and packaging have influenced the global market in a positive way,” says Neelesh.
Increased overfishing resulting in stringent norms
The depletion of fish stocks and fishing at biologically unsustainable levels has resulted in governments in several countries enacting legislations to protect fishery resources. For instance, the Australian government has passed the Environmental Protection and Biodiversity Conservation (EPBC) Act, which aims at promoting ecologically sustainable development, an initiative that is already listed in the Commonwealth's Fisheries Management Act, 1991. These regulations not only affected fishing activities but import and export activities as well. This will impact the need for fishing vessels, and therefore, hamper the growth of the global ocean safety first-aid kits market.
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