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 players 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
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
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
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Psychedelic Drugs Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Psychedelic Drugs Market, by Drug Type, 2019-2029 (USD Billion)
- 1.2.3. Psychedelic Drugs Market, by Application, 2019-2029 (USD Billion)
- 1.2.4. Psychedelic Drugs Market, by Distribution Channel, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Psychedelic Drugs Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Psychedelic Drugs Market Dynamics
- 3.1. Psychedelic Drugs Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Government initiatives, alliances, and awareness programs associated with mental health.
- 3.1.1.2. Rise in Research and Development of Psychedelic Drugs
- 3.1.2. Market Challenges
- 3.1.2.1. High Number of Side Effects of Psychedelic Drug
- 3.1.2.2. Stringent Regulatory Framework for Drug Marketing
- 3.1.3. Market Opportunities
- 3.1.3.1. A rise in product approvals
- 3.1.3.2. Rising development of psychedelic drugs research centre
Chapter 4. Global Psychedelic Drugs Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Psychedelic Drugs Market, by Drug Type
- 6.1. Market Snapshot
- 6.2. Global Psychedelic Drugs Market by Drug Type, Performance - Potential Analysis
- 6.3. Global Psychedelic Drugs Market Estimates & Forecasts by Drug Type 2019-2029 (USD Billion)
- 6.4. Psychedelic Drugs Market, Sub Segment Analysis
- 6.4.1. Gamma Hydroxybutyric Acid (GHB)
- 6.4.2. Ketamine
- 6.4.3. Psilocybin
- 6.4.4. Lysergic Acid Diethylamide (LSD)
- 6.4.5. 3,4- MethylEnedioxyMethamphetamine
- 6.4.6. Other Drug Types
Chapter 7. Global Psychedelic Drugs Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Psychedelic Drugs Market by Application, Performance - Potential Analysis
- 7.3. Global Psychedelic Drugs Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
- 7.4. Psychedelic Drugs Market, Sub Segment Analysis
- 7.4.1. Treatment Resistant Depression
- 7.4.2. Opiate Addiction
- 7.4.3. Post-traumatic Stress Disorder
- 7.4.4. Narcolepsy
- 7.4.5. Panic Disorders
- 7.4.6. Other Applications
Chapter 8. Global Psychedelic Drugs Market, by Distribution Channel
- 8.1. Market Snapshot
- 8.2. Global Psychedelic Drugs Market by Distribution Channel, Performance - Potential Analysis
- 8.3. Global Psychedelic Drugs Market Estimates & Forecasts by Distribution Channel 2019-2029 (USD Billion)
- 8.4. Psychedelic Drugs Market, Sub Segment Analysis
- 8.4.1. Hospital pharmacy
- 8.4.2. Retail pharmacy
- 8.4.3. Other Distribution Channels
Chapter 9. Global Psychedelic Drugs Market, Regional Analysis
- 9.1. Psychedelic Drugs Market, Regional Market Snapshot
- 9.2. North America Psychedelic Drugs Market
- 9.2.1. U.S. Psychedelic Drugs Market
- 9.2.1.1. Drug Type breakdown estimates & forecasts, 2019-2029
- 9.2.1.2. Application breakdown estimates & forecasts, 2019-2029
- 9.2.1.3. Distribution Channel breakdown estimates & forecasts, 2019-2029
- 9.2.2. Canada Psychedelic Drugs Market
- 9.3. Europe Psychedelic Drugs Market Snapshot
- 9.3.1. U.K. Psychedelic Drugs Market
- 9.3.2. Germany Psychedelic Drugs Market
- 9.3.3. France Psychedelic Drugs Market
- 9.3.4. Spain Psychedelic Drugs Market
- 9.3.5. Italy Psychedelic Drugs Market
- 9.3.6. Rest of Europe Psychedelic Drugs Market
- 9.4. Asia-Pacific Psychedelic Drugs Market Snapshot
- 9.4.1. China Psychedelic Drugs Market
- 9.4.2. India Psychedelic Drugs Market
- 9.4.3. Japan Psychedelic Drugs Market
- 9.4.4. Australia Psychedelic Drugs Market
- 9.4.5. South Korea Psychedelic Drugs Market
- 9.4.6. Rest of Asia Pacific Psychedelic Drugs Market
- 9.5. Latin America Psychedelic Drugs Market Snapshot
- 9.5.1. Brazil Psychedelic Drugs Market
- 9.5.2. Mexico Psychedelic Drugs Market
- 9.5.3. Rest of Latin America Psychedelic Drugs Market
- 9.6. Rest of The World Psychedelic Drugs Market
Chapter 10. Competitive Intelligence
- 10.1. Top Market Strategies
- 10.2. Company Profiles
- 10.2.1. Jazz Pharmaceuticals
- 10.2.1.1. Key Information
- 10.2.1.2. Overview
- 10.2.1.3. Financial (Subject to Data Availability)
- 10.2.1.4. Product Summary
- 10.2.1.5. Recent Developments
- 10.2.2. NeonMind BioSciences
- 10.2.3. Cybin Corp.
- 10.2.4. Pfizer Inc.
- 10.2.5. Numinus
- 10.2.6. Mind Medicine
- 10.2.7. PharmaTher Holdings Ltd
- 10.2.8. NRx Pharmaceuticals Inc.
- 10.2.9. Seelos Therapeutics
- 10.2.10. Havn Life
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption