Psilocybin Assisted Therapy Market Industry Outlook, Size, Share, Opportunities, Trends & Growth Statistics 2031

Major Macro-Economic Indicators Impacting the Market Growth

Psilocybin Assisted Therapy Market Region

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5,355.79, which grew from USD 3,515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

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Global Psilocybin Assisted Therapy Market: Growth Drivers and Challenges

Growth Drivers

Rising Prevalence of Depression and Other Mental Disorders – The increase in the level of stress faced by people leads to an increased incidence of mental disorders such as depression, anxiety, and stress. It is estimated that in the U.S about 21 million adults suffered from depression in 2020.
High Use in Treatment of Anxiety – It is observed that the use of psilocybin decreased anxiety in 78% of people with mental health disorders.
Rise in the Use of Psilocybin drugs – The use of psychotropic drugs such as psilocybin raised from 10% in 2018 to 15% in 2019.
Increase in Medical Approval – The Drug Enforcement Administration in 2018 declared to speed up the application process for research of schedule I drug that are registered by more than 590 researchers in 2017.

Challenges

Stigma Associated with Psychedelic
Uncertainty around getting FDA approval
Early Stage in Lifecycle of Psychedelics Industry

The global psilocybin assisted therapy market is segmented and analyzed for demand and supply by end-users into hospitals, specialty clinics, trauma and rehabilitation centers, academic and research institutes. Out of these, the hospital segment is anticipated to boost the market growth owing to favorable conditions to race ahead and encouraging results from psilocybin rials on patients suffering from depression.

Global Psilocybin Assisted Therapy Market Regional Synopsis

Regionally, the global psilocybin assisted therapy market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2031. The higher growth rate in the intranasal segment as companies launch novel psychedelic sprays and proven efficacy increases its popularity leading to an upsurge of market growth. In 2019, the U.S Food and Drug Administration approved a novel nasal spray Spravato to Janssen Pharmaceuticals, Inc. used for depression therapy in adults.

Psilocybin Assisted Therapy Market Regional Synopsis

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The global psilocybin assisted therapy market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global psilocybin assisted therapy market includes the following segments:

By Technology	Neuroimaging Neuroradiology Positron Emission Tomography Computed Tomography
By Application	Pathophysiology Psychopathology Psychotherapy
By Indication	Anxiety Depression Substance Use Post Traumatic Stress Psychiatric Disorders
By End-User	Hospitals Specialty Clinics Trauma and Rehabilitation Centers Academic and Research Institutes

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Top Featured Companies Dominating the Global Psilocybin Assisted Therapy Market

Cybin Irl Limited
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Mind Medicine Inc.
COMPASS Pathways plc
Atai Life Sciences N.V.
Fieldtrip, LLC.
DemeRx
Hikma Pharmaceuticals PLC
Jazz Pharmaceuticals, Inc
Pfizer Inc.
Numinus Wellness Inc.

In The News

Cybin Irl Limited collaborated with IntelGenx Corp. and introduced a dissolvable oral film that is dosed with psilocybin. This fast-acting film has the potential to increase both the safety and efficacy of psilocybin when administered in this manner, for treating major depressive disorders along with therapy.
COMPASS Pathways Plc., announced positive results regarding the usage of COMP360 psilocybin therapy in anorexia nervosa and severe treatment-resistant depression at the Society of Biological Psychiatry Annual Meeting in New Orleans, from two investigator-initiated studies.

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the psilocybin assisted therapy market?

Ans: Rising prevalence of depression and mental disorders and high use in the treatment of anxiety are the major factors driving the growth of the psilocybin assisted therapy market.

2) What would be the CAGR of psilocybin assisted therapy market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022 – 2031.

3) What are the challenges affecting the psilocybin assisted therapy market growth?

Ans: Stigma associated with psychedelics and uncertainty around getting FDA approval are the challenges affecting the market growth.

4) Which region will provide more business opportunities for growth of psilocybin assisted therapy market in future?

Ans: The market in North America region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.

5) Who are the major players dominating the psilocybin assisted therapy market?

Ans: The major players in the market are Cybin Irl Limited, Mind Medicine Inc., COMPASS Pathways plc, Atai Life Sciences N.V., Fieldtrip, LLC., DemeRx, Hikma Pharmaceuticals PLC, Jazz Pharmaceuticals Inc, Pfizer Inc., Others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the psilocybin assisted therapy market?

Ans: The market is segmented by technology, application, indication, end-user, and by region.

8) Which segment captures the largest market size in end-user in the psilocybin assisted therapy market?

Ans: The hospitals segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.