Hazardous Waste Management Market Share

On the basis of geographical analysis, the global hazardous waste management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is expected to hold largest revenue share by 2037, on the back of strong presence of well-established healthcare infrastructure, and high government investments to establish recycling facilities in the region. As per the Centers for Medicare & Medicaid Services, the total healthcare spending in the United States increased by 4.6% in 2019, reaching up to USD 11,582 per person. The health spending as a share of the nation’s total GDP in the same year was 17.7 percent. Additionally, Asia Pacific is expected to witness noteworthy market growth during the forecast period owing to the rise in improvements in individual national consumption rates, and generation of huge volumes of waste resulting from growing industrial establishment. Apart from this, increasing privatization of waste collection in various emerging economies such as China, Thailand and Malaysia, is also predicted to boost hazardous waste management market growth in the region in the future.