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PUBLISHER: SkyQuest | PRODUCT CODE: 1619055

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PUBLISHER: SkyQuest | PRODUCT CODE: 1619055

Psychedelic Drugs Market Size, Share, Growth Analysis, By Source, By Type, By Drug, By Application, By Route of Administration, By End-User, By Distribution Channel, By Region - Industry Forecast 2024-2031

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Global Psychedelic Drugs Market size was valued at USD 1.6 billion in 2022 and is poised to grow from USD 1.79 billion in 2023 to USD 4.47 billion by 2031, growing at a CAGR of 12.1% during the forecast period (2024-2031).

The psychedelic drug market is poised for significant growth, driven by heightened awareness of mental health treatment's importance and the need to address issues like stress and anxiety. The emergence of psychedelic drugs offers innovative treatment options for mental health disorders, attracting interest despite some challenges. Recent data, such as the 2022 State of Mental Health in America report, highlights a concerning rise in severe depressive episodes among youth, further fueling demand for these therapies. Collaborative government initiatives and mental health awareness programs are expected to bolster market expansion. While stringent regulations and potential side effects pose constraints, the sector's growing acceptance and research breakthroughs position it as a key area for investment and development in the coming years.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Psychedelic Drugs market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Psychedelic Drugs Market Segmental Analysis

Global Psychedelic Drugs Market is segmented by source, type, drug, application, route of administration, end-user, distribution channel and region. Based on source, the market is segmented into synthetic and natural. Based on type, the market is segmented into empathogens, dissociatives and others. Based on drug, the market is segmented into gamma-hydroxybutyric acid (GHB), ketamine, psilocybin, lysergic acid diethylamide (LSD), 3,4-methylenedioxymethamphetamine (MDMA) and others. Based on application, the market is segmented into narcolepsy, treatment-resistant depression, major depressive disorder, opiate addiction, post-traumatic stress disorder (PTSD) and others. Based on route of administration, the market is segmented into oral, inhalation and injectable. Based on end-user, the market is segmented into hospitals, specialty clinics, homecare and others. Based on distribution channel, the market is segmented into hospital pharmacy, retail pharmacy and online pharmacy. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Psychedelic Drugs Market

The global psychedelic drugs market is witnessing significant growth driven by the increasing acceptance of these substances for treating depression. Over the past decade, psychedelics have gained recognition for their therapeutic potential in mental health treatment, with researchers actively exploring their efficacy in alleviating symptoms of depression. Ongoing studies and advancements in psychedelic drug development have further enhanced their credibility and acceptance among healthcare professionals and patients alike. As promising results emerge from clinical trials, the popularity and demand for psychedelic therapies are surging, particularly in the United States and various other regions, positioning these factors as key market drivers.

Restraints in the Global Psychedelic Drugs Market

One significant constraint on the Global Psychedelic Drugs market is the elevated cost associated with these substances, which can hinder growth potential. The expensive nature of psychedelic drugs limits accessibility for many patients and consumers, potentially stifling widespread adoption and use. Moreover, the landscape is further complicated by stringent regulations and legal barriers, which can impede market expansion and innovation. These factors combined present challenges that the industry must navigate to achieve sustainable development and broader acceptance within the healthcare sector during the forecasted period. As a result, stakeholders must find solutions to alleviate these concerns for future market success.

Market Trends of the Global Psychedelic Drugs Market

The Global Psychedelic Drugs market is witnessing a notable trend towards the growth of hospital pharmacies, driven by heightened public consciousness surrounding mental health issues and the therapeutic potential of psychedelics. As these substances increasingly require prescriptions from medical professionals, hospital pharmacies are becoming essential distribution channels. This trend is further propelled by a growing body of research supporting the efficacy of psychedelics for specific indications, such as depression, anxiety, and PTSD. Consequently, stakeholders in the healthcare sector are prioritizing the integration of psychedelic therapies, thus fostering a dynamic environment for hospital pharmacies to expand their role in psychiatric treatment.

Product Code: SQMIG35I2114

Table of Contents

Introduction

  • Objectives of the Study
  • Scope of the Report
  • Definitions

Research Methodology

  • Information Procurement
  • Secondary & Primary Data Methods
  • Market Size Estimation
  • Market Assumptions & Limitations

Executive Summary

  • Global Market Outlook
  • Supply & Demand Trend Analysis
  • Segmental Opportunity Analysis

Market Dynamics & Outlook

  • Market Overview
  • Market Size
  • Market Dynamics
    • Drivers & Opportunities
    • Restraints & Challenges
  • Porters Analysis
    • Competitive rivalry
    • Threat of substitute
    • Bargaining power of buyers
    • Threat of new entrants
    • Bargaining power of suppliers

Key Market Insights

  • Key Success Factors
  • Degree of Competition
  • Top Investment Pockets
  • Market Ecosystem
  • Market Attractiveness Index, 2023
  • PESTEL Analysis
  • Macro-Economic Indicators
  • Value Chain Analysis
  • Pricing Analysis
  • Regulatory Landscape
  • Patent Analysis
  • Case Studies
  • Customer & Buying Criteria Analysis

Global Psychedelic Drugs Market Size by Source & CAGR (2024-2031)

  • Market Overview
  • Synthetic
  • Natural

Global Psychedelic Drugs Market Size by Type & CAGR (2024-2031)

  • Market Overview
  • Empathogens
  • Dissociatives
  • Others

Global Psychedelic Drugs Market Size by Drug & CAGR (2024-2031)

  • Market Overview
  • Gamma-Hydroxybutyric Acid (GHB)
  • Ketamine
  • Psilocybin
  • Lysergic Acid Diethylamide (LSD)
  • 3,4-Methylenedioxymethamphetamine (MDMA)
  • Others

Global Psychedelic Drugs Market Size by Application & CAGR (2024-2031)

  • Market Overview
  • Narcolepsy
  • Treatment-Resistant Depression
  • Major Depressive Disorder
  • Opiate Addiction
  • Post-Traumatic Stress Disorder (PTSD)
  • Others

Global Psychedelic Drugs Market Size by Route Of Administration & CAGR (2024-2031)

  • Market Overview
  • Oral
  • Inhalation
  • Injectable

Global Psychedelic Drugs Market Size by End-User & CAGR (2024-2031)

  • Market Overview
  • Hospitals
  • Specialty Clinics
  • Homecare
  • Others

Global Psychedelic Drugs Market Size by Distribution Channel & CAGR (2024-2031)

  • Market Overview
  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

Global Psychedelic Drugs Market Size & CAGR (2024-2031)

  • North America (Source, Type, Drug, Application, Route of Administration, End-User, Distribution Channel)
    • USA
    • Canada
  • Europe (Source, Type, Drug, Application, Route of Administration, End-User, Distribution Channel)
    • Germany
    • Spain
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia Pacific (Source, Type, Drug, Application, Route of Administration, End-User, Distribution Channel)
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Latin America (Source, Type, Drug, Application, Route of Administration, End-User, Distribution Channel)
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (Source, Type, Drug, Application, Route of Administration, End-User, Distribution Channel)
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Competitive Intelligence

  • Top 5 Player Comparison
  • Market Positioning of Key Players, 2023
  • Strategies Adopted by Key Market Players
  • Recent Developments in the Market
  • Company Market Share Analysis, 2023
  • Company Profiles of All Key Players
    • Company Details
    • Product Portfolio Analysis
    • Company's Segmental Share Analysis
    • Revenue Y-O-Y Comparison (2021-2023)

Key Company Profiles

  • Pfizer Inc. (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Johnson & Johnson (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • AbbVie Inc. (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Jazz Pharmaceuticals (Ireland)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Compass Pathways (UK)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • MindMed (Canada)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Atai Life Sciences (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Cybin Corp. (Canada)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Field Trip Health (Canada)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • GH Research (Ireland)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Beckley Psytech (UK)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Seelos Therapeutics (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Numinus Wellness Inc. (Canada)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Delix Therapeutics (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Mydecine Innovations Group (Canada)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Revive Therapeutics Ltd. (Canada)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Entheon Biomedical (Canada)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Mind Cure Health Inc. (Canada)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • PsyBio Therapeutics (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Tryp Therapeutics (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments

Conclusion & Recommendations

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