Global Psychedelic Drugs Market Size study & Forecast, by Drug Type (Gamma Hydroxybutyric Acid (GHB), Ketamine, Psilocybin, Lysergic Acid Diethylamide (LSD), 3 4-MethylEnedioxyMethamphetamine, Other Drug Types) by Application (Treatment Resistant Depressi

Global Psychedelic Drugs Market Size study & Forecast, by Drug Type (Gamma Hydroxybutyric Acid (GHB), Ketamine, Psilocybin, Lysergic Acid Diethylamide (LSD), 3 4-MethylEnedioxyMethamphetamine, Other Drug Types) by Application (Treatment Resistant Depression, Opiate Addiction, Post-traumatic Stress Disorder, Narcolepsy, Panic Disorders, Other Applications), By Distribution Channel ( Hospital pharmacy, Retail pharmacy and Other Distribution Channels) and Regional Analysis, 2022-2029

Global Psychedelic Drugs Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Psychedelic drugs, also known as hallucinogens, are a class of psychoactive substances that alter perception, mood, and cognitive processes. They produce profound changes in thought, mood, and sensory perception, often inducing altered states of consciousness, mystical experiences, and intense emotions. Common examples of psychedelic drugs include LSD, psilocybin mushrooms, mescaline, DMT, and ayahuasca. The Psychedelic Drugs market is expanding because of factors such as government initiatives, alliances, and awareness programs associated with mental health and rise in research and development of psychedelic drugs.

One of the main drivers of market expansion during the forecast period is the prevalence of mental health difficulties, which call for the use of psychedelic medications to treat conditions like anxiety and depression, psychosis, and some types of panic attacks. For instance, according to the State of Mental Health in America 2022 report, there were 197,000 more young people who had a severe major depressive episode (MDE) than there were in the 2021 dataset. As a result, the rising prevalence of depressive disorders fuels a rise in the demand for psychedelic medications, which in turn spurs market expansion over the projection period. Furthermore, a rise in product approvals and rising development of psychedelic drugs research center. In addition, a rise in product approvals and rising development of psychedelic drugs research centre is creating a lucrative growth to the market. However, high number of side effects of psychedelic drug and stringent regulatory framework for drug marketing stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Psychedelic Drugs Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of branded products and the region's increasing disease prevalence. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising target populations, an increase in the number of collaborations for product development, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.

Major market player included in this report are:
Jazz Pharmaceuticals
NeonMind BioSciences
Cybin Corp.
Pfizer Inc.
Numinus
Mind Medicine
PharmaTher Holdings Ltd
NRx Pharmaceuticals Inc.
Seelos Therapeutics
Havn Life

Recent Developments in the Market:
In October 2022, Numinus Wellness Inc., a supplier of mental health services that promotes new treatments and safe, evidence-based psychedelic-assisted therapies, launched the Ketamine for Chronic and Serious Medical Illness Programme. This new initiative will likely debut at the Numinus clinics in Utah, British Columbia, and Quebec. The company will expand the scheme to more clinics in the upcoming months.
In March 2022, University of California researchers published the findings and follow-up information from a phase 3 clinical trial using the psychedelic substance 3,4-methylenedioxymethamphetamine (MDMA) in conjunction with psychotherapy to treat post-traumatic stress disorder (PTSD). Their preliminary findings suggested that the therapy is effective even for people who are difficult to treat, like those who have drug or alcohol use disorders.

Global Psychedelic Drugs Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Drug Type, Application, Distribution Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Drug Type offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Drug Type:
Gamma Hydroxybutyric Acid (GHB)
Ketamine
Psilocybin
Lysergic Acid Diethylamide (LSD),
3,4-MethylEnedioxyMethamphetamine
Other Drug Types
By Application:
Treatment Resistant Depression
Opiate Addiction
Post-traumatic Stress Disorder
Narcolepsy
Panic Disorders
Other Applications
By Distribution Channel:
Hospital pharmacy
Retail pharmacy
Other Distribution Channels

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Jazz Pharmaceuticals
NeonMind BioSciences
Cybin Corp.
Pfizer Inc.
Numinus
Mind Medicine
PharmaTher Holdings Ltd
NRx Pharmaceuticals Inc.
Seelos Therapeutics
Havn Life

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