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HEALTHCARE & PHARMACEUTICAL

Psychedelic Drugs Market Segmentation by Source (Synthetic and Natural); Type (Empathogens, Dissociative, and Others); by Application (Narcolepsy, Treatment Resistant Depression, Post-Traumatic Stress Disorder, and Others); by Drugs (Gamma-Hydroxybutyric Acid, Ketamine, and Others); by Route of Administration (Oral, Inhalation, and Injectable); and by End User (Hospitals, and Specialty Clinics) - Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • May 9, 2022: Cybin and Kernel Announced successful Results from Kernel Flow Piloting of Feasibility Study Measuring Ketamine’s Effects on the Brain.
  • February 15, 2022: The Chopra Foundation Announces Partnership with Cybin Inc. to Increase Education and Awareness of the Potential Use of Psychedelics in Supporting Well-Being and Mental Health.

 

Global Psychedelic Drugs Market Highlights Over 2022-2031

The global psychedelic drugs market is projected to grow at a ~8% CAGR over the forecast period, i.e., 2022-2031. The growth of the market can be attributed to the growing awareness about mental health, increasing prevalence of mental illness or disorders due to various factors such as genetics, trauma, and painful life events. Higher prevalence of depression and other mental disorders across the world is expected to boost the growth of global psychedelic drugs market during the forecast period. According to the World Health Organization, an estimated 264 million people are affected by depression globally. The rising acceptance of medical help for mental disorders, and focus on conducting several awareness campaigns and initiatives by many organizations, is estimated to drive the market growth.

Moreover, busy, competitive and stressful life of people, triggers several health problems including mental disorders; such a life style is further anticipated to drive the market growth. Furthermore, an increasing dependency of people on fast foods, and unhealthy diet, is also projected to boost the market growth during the forecast period.  

psychedelic-drugs-market

The market is segmented on the basis of route of administration into oral, inhalation, and injectable, out of which, the oral segment is expected to hold the notable share in the global psychedelic drugs market on account of patients’ comfort, convenience, and acceptance towards oral route of administration. Moreover, oral medication is the most commonly used route of administration in the treatment of most of the diseases due to cost-effectiveness, and ease of production of oral dosage forms. Such factors are projected to boost the segment growth in the forecast period.

Major Macro-Economic Indicators Impacting the Market Growth

New-Healthcare-Expenditure

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 5355.79, which grew from USD 3515.82 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, the 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.

Global Psychedelic Drugs Market Regional Synopsis

The global psychedelic drugs market is segmented on the basis of region into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is expected to dominate global psychedelic drugs market during the forecast period on the back of increasing awareness of mental health disorders, and research and development activities in psychedelic drug sector. Moreover, high incidence of depression, anxiety & monetary stress particularly among youngsters, is expected to boost the psychedelic drug market growth during the forecast period. For instance, approximately 9.5% of American adults aged 18 years and over, suffer from a depressive illness (major depression, bipolar disorder, or dysthymia) each year. Furthermore, increasing expenditure on healthcare sector, and existence of leading pharmaceutical companies in the region is to drive the market growth during the forecast period.

Psychedelic-Drugs-Market-Share

Global psychedelic drugs 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 global psychedelic drugs market includes the following segments:

By Source

  • Synthetic
  • Natural

By Type

  • Empathogens
  • Dissociative
  • Others

By Drugs

  • Gamma-Hydroxybutyric Acid
  • Ketamine
  • Others

By Application

  • Narcolepsy
  • Treatment Resistant Depression
  • Post-Traumatic Stress Disorder
  • Others

By Route of Administration

  • Oral
  • Inhalation
  • Injectable

By End User

  • Hospitals
  • Specialty Clinics

Growth Drivers

  • Rise in Research and Development Activities in Psychedelic Drug Sector
  • Increasing Incidence of Depression, Anxiety, and Monetary Stress Globally

Challenges

  • Uncertainty of Getting the FDA Approval
  • Stigma of Using Psychedelic Drugs

Top Featured Companies Dominating the Market

  • COMPASS Pathways plc
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Silo Pharma, Inc.
  • Numinus Wellness Inc.
  • Cybin Inc.
  • Mind Medicine Inc.
  • Jazz Pharmaceuticals plc
  • PharmaTher Holdings Ltd.
  • Janssen Pharmaceuticals, Inc.
  • ATAI Life Sciences N.V.
  • Pfizer Inc.

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