Psychedelic drugs market is estimated to be over US$ 4.23 Billion in 2019. It is anticipated to grow at 13.6% CAGR from 2020 to 2030.
Psychedelics are the class of psychoactive molecules that produce changes in mood, perception, and cognitive processes. These molecules actively affect all the senses and exhibit their ability to alter a patient’s thinking, and emotions. Rising acceptance of psychedelic therapeutics for depression treatment coupled with the increasing prevalence of mental disorders is fueling the industry growth to great extent. For example, according to the Department of Neuroscience, in the U.S., more than 35 million people are using psychedelic drugs. This class of therapeutics has proven its effectiveness for the treatment of alcohol dependence, nicotine dependence chronic PTSD, and anxiety associated terminal illness as compared to other antidepressants molecules. This would, in turn, establish a healthy platform for the industry growth over the study period.
Major Key Players of the Psychedelic Drugs Market are:
Takeda Pharmaceutical Company, Pfizer Inc., Mylan N.V., Merck, Alkermes, Allergan, Dr. Reddy’s Laboratories, F. Hoffmann-La Roche Ltd, AstraZeneca, The Emmes Company, LLC among others.
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In addition, rising research and development activities in psychedelic therapeutics categories across the world have supported industrial development significantly. Companies are aggressively investing in R&D activities to develop novel psychedelic treatment molecules with minimal side effects associated with these products. This has further resulted in a strong platform for the further growth of this industry during the study period. On the flip side, strict regulations imposed by several governments to commercialize psychedelic therapeutics will pull back the industry growth to some extent. Moreover, the growing preference for non-therapeutics psychedelic therapies coupled with the poor safety profile of existing molecules will further restrict the industry growth over the study period.
Asia Pacific psychedelic drugs market is projected to grow with the fastest CAGR during the review period. Favorable government initiatives coupled with extensive investment in R&D activities of novel pharmaceutical products is expected to support the regional growth. In addition, the rising prevalence of depression in the region, along with special designation to psychedelic drugs from the regulatory authorities are the key factors for Asia Pacific market growth.
The Psychedelic Drugs Market is segmented on the basis of Drug Type, Application, and region.
Major Drug Type of Psychedelic Drugs Market covered are:
- Lysergic Acid Diethylamide
- 3,4-Methylenedioxymethamphetamine
- Phencyclidine
- Gamma Hydroxybutyric Acid
- Psilocybin
Major Applications of Psychedelic Drugs Market covered are:
- Resistant Depression
- Panic Disorder
- Post-traumatic Stress Disorder
Europe is the second-largest region for the growth of the psychedelic drugs market due to the rising prevelence of psychiatric disorders such as depression, anxiety, etc. For instance, as per the World Health Organization, mental disorders such as anxiety and depression in Europe have suffered more than 37.3 million and 44 million respectively. It created a massive demand for the growth of the psychedelic drugs market in this region.
Research objectives:-
– To study and analyze the global Psychedelic Drugs consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Psychedelic Drugs market by identifying its various sub-segments.
– Focuses on the key global Psychedelic Drugs manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Psychedelic Drugs with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Content
- INTRODUCTION
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
- UNIQUE SELLING PROPOSITION (USP)
- COVID-19 Impact Assessment on Psychedelic Drugs Market
- GLOBAL PSYCHEDELIC DRUGS MARKET – ANALYSIS & FORECAST, BY DRUG TYPE
- Lysergic Acid Diethylamide
- 3,4-Methylenedioxymethamphetamine
- Phencyclidine
- Gamma Hydroxybutyric Acid
- Psilocybin
- Others
- GLOBAL PSYCHEDELIC DRUGS MARKET – ANALYSIS & FORECAST, BY APPLICATION
- Resistant Depression
- Panic Disorder
- Post-traumatic Stress Disorder
- Others
- GLOBAL PSYCHEDELIC DRUGS MARKET – ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Direct Retailers
- Online Channels
- Others
- GLOBAL PSYCHEDELIC DRUGS MARKET – ANALYSIS & FORECAST, BY REGION
- North America Psychedelic Drugs Market
- Europe Psychedelic Drugs Market
- Asia Pacific Psychedelic Drugs Market
- Rest of the World (ROW) Psychedelic Drugs Market
- COMPANY PROFILES (Business Overview, Products Offered, Financial Performance, Recent Developments)*
- Takeda Pharmaceutical Company
- Pfizer Inc.
- Mylan N.V.
- Merck
- Alkermes
- Allergan
- Reddy’s Laboratories
- Hoffmann-La Roche Ltd
- AstraZeneca
- The Emmes Company, LLC
*Financial details might not be captured in case of privately-held companies or for companies that do not report this information in public domain
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In the end, Psychedelic Drugs industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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