Global Psychedelic Drugs Market 2024-2028
Global Psychedelic Drugs Market 2024-2028
The psychedelic drugs market is forecasted to grow by USD 1376.5 mn during 2023-2028, accelerating at a CAGR of 11.82% during the forecast period. The report on the psychedelic drugs market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising prevalence of mental health disorders, increasing acceptance and legalization of psychedelic substances, and growing government programs and initiatives focused on mental health.
Technavio's psychedelic drugs market is segmented as below:
- By Type
- Ketamine
- GHB
- MDMA
- Psilocybin
- Others
- By Distribution Channel
- Hospital pharmacy
- Retail pharmacy
- Others
- By Geographical Landscape
- North America
- Europe
- Asia
- Rest of World (ROW)
This study identifies the increasing focus of vendors on developing next-generation therapies for psychiatric disorders as one of the prime reasons driving the psychedelic drugs market growth during the next few years. Also, rising emphasis of vendors on mergers and acquisitions (m and a) and expanding therapeutic applications of psychedelics will lead to sizable demand in the market.
The report on the psychedelic drugs market covers the following areas:
- Psychedelic drugs market sizing
- Psychedelic drugs market forecast
- Psychedelic drugs market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading psychedelic drugs market vendors that include AbbVie Inc., ATAI LIFE SCIENCES N.V, Avadel Pharmaceuticals plc, Braxia Scientific Corp., COMPASS Pathways plc, Cybin Inc., HAVN Life Sciences Inc, Jazz Pharmaceuticals Plc, Johnson and Johnson Services Inc., Lykos Therapeutics, Mind Medicine Inc., Pfizer Inc., Seelos Therapeutics Inc., Silo Pharma Inc., and Stella. Also, the psychedelic drugs market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.