News

Healthcare

Staff Reporter

, APAC

Published:

6 months ago

Photo from Derek Finch on Unsplash

Medical waste management market projects 5.5% CAGR increase until 2027

The market is expected to reach $3.32b within the forecasted period.

The global market for medical waste management is projected to reach $3.32b in 2027 at a compound annual growth rate (CAGR) of 5.5%.

The report by Technavio revealed that the market’s growth was significantly driven by factors such as an increase in healthcare expenditures, rising awareness of environmental issues, and strict regulations.

In addition, countries seeing significant growth in healthcare, such as India and China, present opportunities for the market’s growth.

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Meanwhile, the prevalence of medical waste has prompted the development of robust waste management services in the Asia-Pacific region.

The report mentioned that countries such as Indonesia, Bangladesh, and Bhutan have underscored the need for funding and recycling services.

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