Psychedelic Drugs Market survey report recognizes and analyses emerging trends along with major drivers, challenges and opportunities in the market. It also performs the analysis of the global market share, segmentation, revenue growth estimation and geographic regions of the market. The report has been crafted after a thorough study of various key market segments like market size, latest trends, market threats & key drivers driving the market. Moreover, the market analysis in the Psychedelic Drugs report consists of competitive study, production information analysis, applications, and region-wise analysis, competitor landscape, consumption and revenue study, cost structure analysis, price evaluation and revenue analysis till 2029.

A complete discussion about numerous market related topics in the worldwide Psychedelic Drugs market research report is sure to aid the client in studying the market on competitive landscape. This market analysis offers an examination of a range of segments that are relied upon to witness the quickest development amid the estimate forecast frame. The company profiles of all the key players and brands that are dominating the Psychedelic Drugs market with moves like product launches, joint ventures, mergers and acquisitions which in turn is affecting the sales, import, export, revenue and CAGR values are mentioned in the report. An excellent Psychedelic Drugs report also gives an idea about consumer’s demands, preferences, and their altering likings about particular product.

Global psychedelic drugs market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 13.3% in the forecast period of 2022 to 2029 and is expected to reach USD 6,401.95 million by 2029 from USD 2,386.72 million in 2021.

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Psychedelic drugs involve various types of chemical substances including lysergic acid diethylamide (LSD) and chemical extracted from plants. These drugs have the ability to change or enhance the sensory perceptions, thought processes, energy levels and have also been reported to facilitate spiritual experiences.

The psychedelic drugs can be categorized into empathogens and dissociative drugs (such as phenylcyclohexyl piperidine (PCP)) and serotonergic (classic hallucinogens) such as LSD. Both types of psychedelic drugs can cause hallucinations and feeling of sensation, moreover, dissociative drugs can make a person to fell out of control from their body or environment and makes them feel disconnected. Based on the source, psychedelic drugs have been categorized under natural and synthetic types.

These drugs have wide applications in the treatment of major depressive disorder, post-traumatic stress disorder, panic disorder, treatment-resistant depression and opiate addiction among others. Psychedelic drugs are also known by several other names such as lysergic acid derivative (LSD) which are also known as blotter, dots, sugar, acid, trips and window pane, ketamine are also known as vitamin K, bump, green, K/special K, purple and super acid, PCP are also known as angel/angel dust, boat/love boat, peace, killer weed, super grass and ozone.

Market Players Covered:

The major companies which are dealing in the market are Jazz Pharmaceuticals, Inc., Janssen Global Services, LLC (a subsidiary of Johnson & Johnson Services, Inc.), Hikma Pharmaceuticals PLC, COMPASS, Verrian, Pfizer Inc., F. Hoffmann-La Roche Ltd, Avadel, Celon Pharma SA., Cybin Corp., GH Research, Entheon Biomedical Corp, PharmaTher Holdings Ltd., NRx Pharmaceuticals, Inc., usonainstitute.org, among others.

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Psychedelic Drugs Market Dynamics

Drivers

Growing Acceptance Of Psychedelic Drugs For Treating Depression
Psychedelics have achieved a large popularity within the last decade as they are involved with human mental healing and treatment practices and have the power of mind-healing. The growing researchers and scientist are exploring psychedelic drugs therapeutic value and compounds which could be a new treatment option for people with depression. Continuous research and development in the psychedelic drugs have increased the acceptance of psychedelics medication. Psychedelic drugs promising outcomes have increased the usage of psychedelic drugs across the U.S. and other regions which leads to rising demand for psychedelic drugs, hence these factors are expected to act as drivers for the growth of the market.

Increasing Prevalence Of Depression And Mental Disorders
Mental disorders (or mental illnesses) affects persons feeling, mood, thinking, and behaviour and can be long-lasting (chronic) or occasional. Depression and mental disorders have the ability to affect individual’s capacity by virtue of which they perform their everyday tasks. There are numerous dissimilar types of mental disorders. Depression and mental disorders have increased globally due to various factors including family history and genes, abuse or stress, biological factors, usage of alcohol or recreational drugs and many others.

Additionally, increasing consumption of illicit substances has increased depression and mental disorders. Thus, increasing prevalence of depression and mental disorders are increasing the demand for psychedelic drugs which is expected to act as driver for the growth of the market.

Rising Awareness Towards Mental Health
As mental illness has adversely impacted the people’s ability to carry out normal functions of their life, this has become important to create awareness among people regarding the different types of cause, disorders it leads to and the treatment options available in the market in order to cure such life-devastating illness. In order to raise awareness several organizations and companies are launching campaigns and adoption initiatives. This in turn allows patients to opt for effective treatment option as per the disease cause and reported symptoms. Advertisements, awareness campaigns, and others have increased the awareness for psychedelic drugs. The awareness campaigns have encouraged people to select appropriate treatment for mental disorders procedures which is increasing the demand of psychedelic drugs. For this reason, rising awareness towards mental health is expected to act as driver for the market growth.

Opportunity

Increasing R&D Activities In Psychedelic Drugs
Psychedelic plants and fungi have been used in indigenous medicinal traditions for millennia. New psychedelic drugs development research has initiated by Albert Hofmann in 1938. He has synthesized the first lysergic acid diethylamide (LSD-25) and now recognized as the first person to ingest LSD after five years later. Hofmann was unaware of the significant effects and actions posed by that product. After a growing period of cultural and scientific exploration in the 1950s and 60s, psychedelic drug development research was slackened to a near halt. Increasing research and development expenditure in the psychedelic drugs is creating new opportunities in the market. Thus, increasing R&D activities in psychedelic drugs is acting as an opportunity for the growth of the market.

Also, the strategic initiatives taken by key market players will provide structural integrity and future opportunities for the psychedelic drugs market in the forecast period of 2022-2029.

Restraint/Challenge

High Cost Of Psychedelic Drugs
However, the high cost associated with psychedelic drugs will impede the growth rate of psychedelic drugs market. Additionally, stringent rules and regulations will further challenge the market in the forecast period mentioned above.

TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope of the Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers and Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

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The Analysis Objectives of the report are:

To know the Psychedelic Drugs Market size by pinpointing its sub-segments.
To study the important players and analyse their growth plans.
To analyse the amount and value of the Global Psychedelic Drugs Market, depending on key regions
To analyse the Global Psychedelic Drugs Market concerning growth trends, prospects and also their participation in the entire sector.
To examine the Global Psychedelic Drugs Market size (volume & value) from the company, essential regions/countries, products and application, background information.
Primary worldwide Global Psychedelic Drugs Market manufacturing companies, to specify, clarify and analyse the product sales amount, value and market share, market rivalry landscape, SWOT analysis and development plans for future.
To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.
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