USD 2.4 billion
Music Therapy Market Size, Share, Growth Analysis, By Type(Type 1, Type 2, Type 3, Others), By Application(Hospitals, schools, rehabilitation centres, prisons (correctional facilities)), By Region - Industry Forecast 2024-2031
Report ID:
SQSG35E2003 |
Region:
Global |
Published Date: July, 2001
Pages:
157
|Tables:
67
|Figures:
75
Music Therapy Market Insights
Global Music Therapy Market size was valued at USD 2.4 billion in 2019 and is poised to grow from USD 2.62 billion in 2023 to USD 5.73 billion by 2031, growing at a CAGR of 9.1% in the forecast period (2024-2031).
The market for global music therapy is driven by the demand owing to its benefits such as stress reduction, mood enhancement, and self-expression It is a well-established evidence-based treatment in the medical world. Singing, listening, playing instruments, or making music are all examples of music therapy experiences.
In the era of news journalism that reports violence, and natural catastrophes every minute, there is a need for a proper alternative to develop coping mechanisms. Cultural methods are crucial in assisting communities in their recovery from trauma. Sports and games, for example, have been employed in a variety of situations with persons suffering from post-traumatic stress disorder. Other arts-based therapies, such as reading or creative writing, have also been shown to be effective in dealing with the aftermath of traumatic experiences. Besides, music therapies are gaining a lot of momentum in the young population.
US Music Therapy Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
schools
Fastest Growth
schools
Growth Rate
9.1% CAGR
Global Music Therapy Market ($ Bn)
Country Share for North America Region (%)
Country Share for Europe Region (%)
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Music Therapy Market Segmental Analysis
The global music therapy market is segmented based on the component, type, application, and region. Based on the type, the market is segmented into type 1 and type 2, and others. Based on application, the market is segmented as hospitals, schools, rehabilitation centres, prisons & jails (correctional facilities), nursing homes, and hospices. based on region music therapy market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Music Therapy Market Analysis by Application
In terms of application, hospitals and nursing homes accounted for a major revenue share. Following WWII, music therapy was extensively established in American hospitals. Since then, certain hospitals, notably on the continent of Europe, have included music therapy in their practices, building on a legacy of European hospital-based study and practice. The nursing profession, notably in the United States of America, has recognized the importance of music therapy and advocated for its use as an important nursing intervention even when music therapists are not present.
Global Music Therapy Market By Application
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Music Therapy Market Regional Insights
In terms of region, North America held the majority share followed by Europe. The Asia Pacific is projected to witness maximum growth over the forecast period. Following WWII, music therapy was extensively established in American hospitals. Since then, certain hospitals, notably on the continent of Europe, have included music therapy in their practices, building on a legacy of European hospital-based study and practice. The nursing profession, notably in the United States of America, has recognized the importance of music therapy and advocated for its use as an important nursing intervention even when music therapists are not present.
Global Music Therapy Market By Region
- Largest
- Fastest
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Music Therapy Market Dynamics
Music Therapy Market Driver
Rise in the Awareness regarding the Multiple Health Benefits of Music Therapy
- The growing trend of perceiving music as a health benefit is expected to add more listeners to music platforms. Emergence of podcasts, story-telling through ballads, music, and songs has been influential in the market development.
- Medical industry is now embracing various methods to improve patient care and music is becoming one of the popular methods to this approach. Therefore, music therapies are widely sought in the favour of patients that enables a speedy recovery.
Music Therapy Market Restraints
Low Remuneration for Artists to Limit the Adoption
- The income of a music therapist varies greatly depending on geographic region, type of practice, and years of expertise. Annual salaries vary from $27,000 to $58,000, with a typical of $40,000. The median wage indicates that half of those in the profession earn more and half earn less.
- Besides, the uneven remuneration facilities even in developed countries is restricting the market growth.
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Music Therapy Market Competitive Landscape
The market is highly fragmented with small to medium-sized players present across the world however, the level of competition is high owing to less awareness. Mergers, acquisitions and collaborative strategies are some of the methodologies pursued by the industry players.
Music Therapy Market Top Player's Company Profiles
- Music & Memory
- National Association of Music Therapy (NAMT)
- American Music Therapy Association (AMTA)
- Nordoff-Robbins Center for Music Therapy
- Room 217 Foundation
- The Royal Marsden NHS Foundation Trust
- The Louis Armstrong Center for Music and Medicine
- Berklee College of Music
- Midori & Friends
- Children's Music Fund
- Creative Arts Therapies Department, Concordia University
- Music Together LLC
- The Nordoff-Robbins Center for Music Therapy at NYU Steinhardt
- The Music Therapy Program at the University of Dayton
- The Rhythmic Arts Project
- Music Therapy Services of Austin
- MusicWorx Inc.
- Bay Area Music Therapy
- Southern California Music Therapy Inc.
- Tactus Therapy Solutions Ltd.
Music Therapy Market Recent Developments
- In February 2022, Spoke releases a music therapy app for Generation Z and gets $1.5 million in a round lead by Ada Ventures. Spoke is a new software that creates music with "mindfulness advantages." The app is the result of 18 months of research and development with modern musical artists and scientific advisors (a clinical trial is planned), and it combines music with mindfulness prompts aimed primarily at Gen Z, or people under the age of 25, who are often turned off by more "middle-aged" mindfulness apps and movements.
Music Therapy Key Market Trends
- Popularity of several music formats: Several music therapy research studies for music therapy company owners highlighted word-of-mouth as one of the most significant marketing tactics for a private music therapy practice. Word-of-mouth is described as the unprompted flow of oral information, which may include exchanging opinions, storytelling, and oral traditions.
- Availability of Technological Support: One marketing trend that continues to have an influence on most firms from a technology standpoint is the channels via which their potential clients seek information about a product or service. Technology has altered how a prospective music therapy client or caregiver discovers and learns about music therapy. The internet, search engines, websites, and social media have all become commonplace for anyone looking for and sharing information.
Music Therapy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to the global music therapy market report analysis, the market is projected to witness a huge growth curve owing to the wider availability of music platforms and change in user perception and attitude towards music. There is also a growing number of music aspirants to pursue career objectives in the field of music.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.4 billion |
| Market size value in 2031 | USD 5.73 billion |
| Growth Rate | 9.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Music Therapy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Music Therapy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Music Therapy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Music Therapy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Music Therapy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Music Therapy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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