Press release
Meditation Market Predicted to Accelerate the Growth by 2021-2031
The global meditation market was initially evaluated at US$ 5,295.07 million in the base year of the study i.e. 2022. The research report predicts that the global meditation market will record an outstanding growth rate of 18.5 % during the forecast period of 2022 to 2029.
Furthermore, it also projects that the global ABM market will expand to hit the final evaluation of US$ 20,532.44 million by the end of the forecast period in 2029.
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Key drivers for causing a sales growth in the global meditation market include rapid growth in the advancement of modern communications technologies as well as the increasing spending on healthcare.
The increasing pool of global population is living with certain type of mental health disorder. This intensifies the demand for advanced and highly effective treatment therapeutics.
This has also propelled the sales in global meditation market. Furthermore, the rising number of new meditation app launches as well as the rising investments by players and developers on providing innovative and unique apps is also driving the sales growth for global meditation market.
Global Meditation Market: Overview
Meditation refers to the ancient practice of wellness that emphasizes on training on compassion, attention, and awareness. Meditation plays an important role in refreshing mind and body. Mediation is done with eyes closed and in a seated position. With the increased number of people suffering from stress and stress-related disorders is likely to bolster growth of the global meditation market in the years to come.
In addition, there has been an augmented awareness about meditation and its benefits amongst the people are likely to augment growth of the global meditation market over the timeframe of analysis, from 2019 to 2029.
Product, mental disorder, type, meditation type, information source, and region are the six key parameters based on which the global meditation market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.
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Global Meditation Market: Notable Developments
The global meditation market has witnessed significant developments in the recent years. One of such developments pertaining to the market is mentioned below:
In July 2020, American messaging app, Snapchat, announced the introduction of Snap Minis, their latest feature, in partnership with Headspace. The latter is an online healthcare company specializing in meditation. With this new feature, it is expected that users will benefit from the expertise pertaining to physical and emotional wellbeing offered by the app. It will also offer tools of daily meditations to stay healthy and refreshed.
Some of the key players in the global meditation market comprise the below-mentioned:
MINDSET brain gym Yorkville
Simple Habit, Inc.
Simply Better Apps
Inner Explorer, Inc.
Headspace meditation app
Global Meditation Market: Key Trends
The following drivers, restraints, and opportunities characterize global meditation market over the assessment period, from 2019 to 2029.
Increased Prevalence of Stress and Anxiety is Likely to Bolster Demand in the Market
With the rapidly rising cases of suicides, mental stress, and other stress related illnesses, the global meditation market is expected to observe considerable growth in the years to come. The emerging trend of traditional thoughtful awareness is gaining traction amongst various corporate houses. Increased prevalence of subconscious health dysfunctions, including anxiety troubles, mood swings and complications, and so on, are observed in people across various age groups. These factors are likely to work in favor of the global meditation market over the timeframe of analysis, from 2019 to 2029.
On the other hand, there are some factors that are likely to pose challenge to the global meditation market during the analysis period. However, the level of awareness is rising amongst the people, the penetration of meditation in various parts of the world is still very low, which is likely to work against the growth of the global meditation market in the years to come.
It is expected that with rapid urbanization and growing industrialization, the work pressure will rise. With the augmented pressure of work, the work personal life balance is likely to be disturbed. The need for meditation is anticipated to rise with such disbalances in life, thereby encouraging growth of the market in the years to come.
Global Meditation market: Geographical Analysis
North America is expected to dominate over the global meditation market throughout the tenure of analysis, 2019 to 2029. Such growth of the North America market is ascribed to the flourishing countless meditation programs and yoga centers spread across the region. In addition, there is very high prevalence of stress, anxiety, and other related disorders in the region is likely to play the role of a catalyst in the growth of the region.
A lot of Americans are increasingly understanding the importance of treating panic attacks, damaging effects of insomnia on health, and need for anxiety and stress management, which is likely to augur well for the regional market in the near future.
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The global meditation market is segmented as:
Product
Meditation Programs
Yoga Centers
Apps
Websites
Books
Online Courses
Workshops
Mental Disorder
Mood Disorders
Anxiety Disorders
Type
Focused Attention
Open Monitoring
Self-Transcending Meditation
Meditation Type
Sophrology
Kundalini Yoga
Mindful Fitness Surges
Information Source
Books, Newspapers
Internet
DVDs
Articles
Region
North America
United States
Canada
Mexico
Europe
Germany
France
UK
Russia
Italy
Asia Pacific
China
Japan
Korea
India
Southeast Asia
The Middle East
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Latin America
Brazil
Argentina
Colombia
About TMR Research
TMR Research is a premier provider of customized market research and consulting services to busi-ness entities keen on succeeding in today's supercharged economic climate. Armed with an experi-enced, dedicated, and dynamic team of analysts, we are redefining the way our clients' conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
Contact:
TMR Research,
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San Francisco, CA 94121
United States
Tel: +1-415-520-1050
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