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Psychedelic Drugs Global Market Report 2022

·4-min read

Major players in the psychedelic drug market are Johnson & Johnson, Pfizer, Hikma Pharmaceuticals PLC, Roche Holding AG, Merck & Co Inc, Jazz Pharmaceuticals plc, COMPASS Pathways PLC, Celon Pharma S.

New York, July 29, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Psychedelic Drugs Global Market Report 2022" -
A., Numinus Wellness Inc, AbbVie, Mylan N.V., Avadel, NeuroRx Inc., Klarisana, AstraZeneca, Dr. Reddy’s Laboratories Ltd, Takeda Pharmaceutical Company Limited, Allergan Inc, Mota Ventures Corp., Seelos Therapeutics, Emmes Company, and Novatris International AG.

The global psychedelic drugs market is expected to grow from $3.62 billion in 2021 to $4.19 billion in 2022 at a compound annual growth rate (CAGR) of 15.6%. The psychedelic drugs market is expected to reach $7.03 billion in 2026 at a CAGR of 14.2%.

The psychedelic drug market consists of sales of psychedelic drugs by entities (organizations, sole traders, and partnerships) that are used to treat depression and post-traumatic stress disorder and also help with mental health diagnoses.Psychedelic drugs refer to hallucinogens.

These drugs are a group of substances that usually alter and enhance perception, thinking processes, energy levels, and promote mental experiences.These include chemicals such as Lysergic acid diethylamid (LSD) and plants such as peyote.

These medications are used to treat a variety of brain conditions.

The main types of psychedelic drugs are lysergic acid diethylamid, ketamine, phencyclidine, gamma-hydroxybutyric acid (GHB), and salvia.Lysergic Acid Diethylamide (LSD) is also known colloquially as acid.

LSD is manufactured in crystalline form and then mixed with other inert ingredients or diluted as a liquid to produce an ingestible form.The various disease indications include depression and PTSD, which could be natural or synthetic.

The numerous applications include treatment-resistant depression, opiate addiction, post-traumatic stress disorder, narcolepsy, and panic disorders, and are distributed through various channels such as hospital pharmacies, retail pharmacies, and online pharmacies.

North America was the largest region in the psychedelic drug market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the psychedelic drug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The psychedelic drugs market research report is one of a series of new reports that provides psychedelic drug market statistics, including psychedelic drug industry global market size, regional shares, competitors with a psychedelic drug market share, detailed psychedelic drug market segments, market trends and opportunities, and any further data you may need to thrive in the psychedelic drugs industry. This psychedelic drug market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increase in the cases of mental illnesses is expected to propel the growth of the psychedelic drug market going forward.Mental illnesses refer to health conditions involving changes in emotion, thinking, or behavior.

Mental illnesses include conditions such as distress and post-traumatic stress disorder.Psychedelic drugs are used to treat depression and post-traumatic stress disorder, and their regular usage decreases mental illnesses.

For instance, in 2020, according to the National Alliance on Mental Illness (NAMI), a US-based mental health organization, 21% of adults in America were suffering from mental illness in 2020, which amounted to 52.9 million people. Therefore, an increase in the number of cases of mental illnesses is driving the growth of the psychedelic drug market.

The introduction of depression spray is the key trend gaining popularity in the psychedelic drug market.Major companies operating in the psychedelic drug market are introducing nasal-spray drugs for major depressive disorders to sustain their position in the market.

For instance, in March 2019, Johnson & Johnson, a US-based company that manufactures psychedelic drugs and pharma medicines, launched a new depression spray named Spravato.The drug acts rapidly on the brain, so it starts working faster than other antidepressants.

It works by restoring brain cells in patients with treatment-resistant depression.

In April 2022, Numinus, a Canada-based company that manufactures psychedelic medicine with holistic, integrated psychotherapy, acquired Novamind for a deal amount of $20.77 million. With this acquisition, Numinus is expected to expand its psychotherapy clinics in the US and develop advanced psychedelic programs. Novamind is a US-based mental health company and manufacturer of psychedelic medicine.

The countries covered in the psychedelic drug market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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