What is the global market size of Music Therapy Market?

Global Music Therapy Market size was valued at USD 2.4 billion in 2021 and is poised to grow from USD 2.62 billion in 2022 to USD 5.73 billion by 2030, growing at a CAGR of 9.1% in the forecast period (2023-2030).

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 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.

Music Therapy Market Report Snapshots

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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 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 & 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.'

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.

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.

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.

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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

Music Therapy Market Dynamics

Music Therapy Market Report Snapshots

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