Westford USA, April 26, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the meditation market will attain a value of USD 20588.21 million by 2030, with a CAGR of 18.5% over the forecast period (2022-2030). The prevalence of mental diseases is rising, necessitating highly effective and cutting-edge treatment to lessen the number of cases. Healthcare systems must use highly effective apps and programmes to improve patients' mental health. Therefore, app launches and product approvals are receiving much attention from key industry participants. The demand for meditation has increased due to rising research and development expenditures for creating inventive apps and growing public awareness of meditation.
According to the SkyQuest, healthcare providers now advise physical activities to alleviate illnesses rather than providing drugs as a form of treatment. Exercise, outdoor activities, nature excursions, yoga and mindfulness are just a few examples of activities with numerous scientifically demonstrated advantages. Similar to this, an increasing number of meditation studios are opening up worldwide. The benefits of meditation have been made known to millions of people, and the number of people getting aware for benefits of good health is rising daily.
Browse in-depth TOC on "Meditation Market"
- Pages - 242
- Tables - 126
- Figures – 77
The term "meditation" refers to an age-old wellness practice that strongly emphasizes developing compassion, attentiveness, and awareness. Meditation is crucial for revitalizing the body and the psyche as one sits in calming position with eyes closed and allowing the body to breathe in and out completely. Commercially, the global meditation market is expected to rise in the years to come due to the rising number of people to become aware from stress and stress-related ailments.
Prominent Players in Meditation Market
- MINDSET brain gym Yorkville
- Simple Habit, Inc.
- Simply Better Apps
- Inner Explorer, Inc.
- Headspace meditation app
- Smiling Mind
- Inner Explorer Inc.
- Committee for Children
- Stop
- Breathe & Think PBC
- Simple Habit, Inc.
- Calm
- Headspace Inc.
- Inscape
- Insight Network Inc.
- Waking Up, LLC
- FeelVeryBien, s.a.s.,
- MEDITOPIA
- BetterMe
- Aura Health
- Sanity & Self
- TEN PERCENT HAPPIER
- Inward Inc
- Portal Labs Ltd.
- MOBIO INTERACTIVE
- MindfulnessEverywhere
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Sophrology Segment Is Expected To Grow Due to Growing Demand for Alternative Wellness Practices
The sophrology segment is having a considerable impact on the meditation market. Sophrology is gaining popularity as a mindfulness and relaxation method, notably in countries such as France, Switzerland and Belgium, where it is frequently employed in therapeutic and medical settings. The method is also becoming more popular in other regions, such as the United States and Canada, where it is occasionally employed either alone or in conjunction with other forms of meditation. The sophrology segment is projected to grow even more and contribute to the overall expansion of the meditation market as the demand for alternative wellness practices and mindfulness exercises increase.
North America is anticipated to dominate the worldwide meditation market. The number of meditation programmes and yoga studios dispersed around the region contributes to the market's expansion in North America. Additionally, the region's extremely high prevalence of stress, anxiety and other related problems will probably act as a stimulant for the region's growth. The fact that many Americans are becoming more aware of the value of treating panic attacks, the harmful consequences of insomnia on health, and the necessity of managing anxiety and stress bode well for the near future of the market.
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Kundalini Yoga Segment Is Anticipated to Grow Due to Rising Popularity of Yoga and Meditation
Kundalini Yoga is a distinctive kind of yoga playing a significant role with its emphasis on spiritual and physical practices to awaken the energy at the base of the spine and raise it via the chakras. Physical postures, chanting, and breathwork are included to achieve a higher state of consciousness and spiritual awakening through Kundalini Yoga.
Kundalini Yoga is gaining popularity as the popularity of yoga and meditation is rising, especially among those looking for more all-encompassing method of wellness and health. It differs from other types of yoga and meditation and strongly emphasizes the spiritual and energetic practices. As a result, people seeking a profound, transforming experience frequently perform kundalini yoga.
Asia-Pacific is anticipated to dominate the global market due to the rapid technological development in the region and is anticipated that the region will have the fastest CAGR growth during the forecast period due to rising public awareness of meditation. Asia-Pacific region is predicted to develop at the fastest rate throughout the forecast period. China currently controls the market due to its growing disposable wealth.
A comprehensive analysis of the major players in the Meditation market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Meditation Market
- In October 2022, the Sharpham Trust's 40@40 campaign, which aims to "make mental health and well-being for all a global priority," was launched and culminated in World Mental Health Day. The 40@40 programme was an addition to The Trust's already-established bursary programme, which is funded by contributions and offers reduced retreat spots each year. The group benefits from additional exposure as a result of this.
- In May 2021, the COVID-19 pandemic, which has negatively influenced mental health globally and increased stress, anxiety, and depression, has led to the development of customized mental health therapy for those afflicted. This treatment greatly aided patients throughout the pandemic, increasing the provider's business revenue.
Key Questions Answered in Meditation Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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