Ketamine for Chronic and Serious Medical Illness Program was introduced by Numinus Wellness Inc., a mental health care organization that advances safe, evidence-based psychedelic-assisted therapies and new treatments. It is anticipated that Numinus' clinics in British Columbia, Utah, and Quebec will be the first to implement this new approach. In subsequent months, the company plans to extend the concept to additional clinics.
The supplemental new drug application (sNDA) for SPRAVATO® (ketamine) CIII nasal spray, taken in conjunction with an oral antidepressant, has been approved by the U.S. Food and Drug Administration (FDA) to treat depressive symptoms in adults with major depressive disorder (MDD) who have acute suicidal ideation or behavior, according to a statement released today by the Janssen Pharmaceutical Companies of Johnson & Johnson.1. Up until a more extensive, long-term treatment plan can be implemented, SPRAVATO® is the only licensed medication that has been demonstrated to significantly lessen depressed symptoms in less than a day.
Author Credits: Radhika Gupta, Shivam Bhutani
Report ID: 4153
Published Date: Feb 23, 2024
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The rising frequency of mental health disorders and acceptance of psychedelic drugs are the major factors driving the growth of the psychedelic drugs market.
The market size of psychedelic drugs is anticipated to attain a CAGR of 17% over the forecast period, i.e., 2024-2036.
The major players in the market are Hikma Pharmaceuticals PLC, Pfizer Inc., PharmaTher Holdings Ltd., NRx Pharmaceuticals, Inc., Avadel, F. Hoffman-La Roche Ltd, Entheon Biomedical Corp, Janssen Global Services, LLC, Numinus Wellness Inc., and others.
The hospital pharmacies segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.