In the Name of Allah, Most Gracious, Most Merciful.
All praise and thanks are due to Allah, and peace and blessings be upon His Messenger.
In this fatwa:
We do not need to kiss whatever falls on the floor. However, we have to keep in mind cultural sensitivity. If you drop a copy of the Quran (mushaf), acknowledge the fact that it has happened, make istighfar, and then say subhanAllah to replace it with a good deed.
In this short video, Imam Wisam Sharieff explains in more details.
Almighty Allah knows best.
Source: Faith IQ Facebook page.