Jazz Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd, Pfizer Inc. are Dominating the Global Psychedelic Drugs Market in 2021

Global Psychedelic Drugs Market is expected to grow with the CAGR of 13.3% in the forecast period of 2022 to 2029. The years considered for study are as mentioned below.

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Global psychedelic drugs market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario. 

The major players dealing in global psychedelic drugs market are introducing strong range of products provider along with pipelines products and adopting strategic initiative such as acquisition, agreement into the market. This helped companies to maximize the sales with enhanced product portfolio.

For instance;

• In January 2020, Jazz Pharmaceuticals, Inc. received marketing authorization for Sunosi (solriamfetol) from European Commission. As per the approval, the company can market the product for treatment of narcolepsy or obstructive sleep apnoea, moreover it is effective in treatment of excessive daytime sleepiness. This approval paved the way for the company to penetrate its root in large European market.
• In August 2020, Janssen Pharmaceuticals, Inc. received approval for its Spravato nasal spray indicated for treatment of suicidal people. As approximately 11% to 12% of Americans suffers from major depressive disorder that led them to commit suicide, this approval provided these patients with a remarkable therapy and paved the way for the company to generate more revenue

Jazz Pharmaceuticals, Inc. is the market leader in psychedelic drugs market. The other player in this market are Pfizer Inc., Verrian, F. Hoffman-La Roche Ltd, Hikma Pharmaceuticals PLC, usonainstitute.org, GH Research, COMPASS, NRx Pharmaceuticals, INC, Celon Pharma SA, PharmaTher, Cybin Corp. among others.

Jazz Pharmaceuticals, Inc.

Jazz Pharmaceuticals, Inc. headquartered in Dublin, Ireland was incorporated in 2003. The company is engaged in turning biopharmaceutical discoveries into novel changing drugs to treat rare or complex diseases. The company is providing products under the categories Medicine (our medicines, drug safety, and medical information), research (pipeline, clinical trials, extended access, and independent scientific research). The company is constantly engaged in the manufacture and development of psychedelic drugs.

• In October 2020, Jazz Pharmaceuticals, Inc. pediatric narcolepsy patients have received FDA approval for xyram (sodium oxygenate) for excessive daytime sleepiness or cataplexy treatment. The approval will help the company to dominate the market as Xyram is the only and FDA approved treatment for cataplexy in narcolepsy for older patients and excessive daytime sleepiness approved.

The company has wide presence across North America, Europe through its subsidiaries Jazz Pharmaceuticals Ireland Limited (Ireland), Jazz Financing Eye Designed Activity Company (Ireland), Jazz Capital Limited (Ireland), Jazz Pharmaceuticals, Inc. (US), Celator Pharmaceuticals, Inc. (US) among others

Pfizer Inc.

 Pfizer Inc. headquartered in New York, U.S. was founded in 1849. The company is engaged in research and development, manufacturing and sales of a wide range of products in the health care sector. The company is providing products such as Accupril, Accuretic, Altace, Amidate, Aromasin, Atgam, Azulfidine, Ketamine Hydrochloride, Pristiq (Desvenlafaxine) among many others in which the market focused product is Ketamine Hydrochloride, Pristiq (Desvenlafaxine). The company is constantly engaged in the manufacture and development of psychedelic drugs.

• In June 2015, Pfizer Inc. had announced the top line results of Phase 3 clinical trials of Pristiq, a desvenlafaxine succinate sustained-release formulation. The Pristiq is recommended for pediatric patients aged 7-17 who suffer from Major Depressive Disorder. However, it did not meet the primary goal to showcase its superior efficacy of desvenlafaxine succinate sustained-release formulation compared to placebo. The clinical trial has resulted in immediate distribution of the drug in hospitals and various rehabilitation centres, increased consciousness and brings a positive growth in the market.

The company has various subsidiaries that are in Europe, Middle East and Africa, Americas, Asia-Pacific. The company has several owned subsidiaries involving Pfizer Animal Health B.V.( Netherlands), Pfizer Asia International B.V.(Netherlands), Pfizer Australia Superannuation Pty Ltd ( Australia), Pfizer Dominicana, S.A.(Dominican Republic), Pfizer Egypt S.A.E.(Egypt) among others

F. Hoffmann-La Roche Ltd

F. Hoffmann-La Roche Ltd headquartered in Basel, Switzerland was founded in 1896. The company is one of the world’s largest biotech companies, as well as a leading provider of in-vitro diagnostics and a global supplier of transformative innovative solutions across major disease areas. The company is providing products under the categories of Roche Pharma and Roche Diagnostics.

The company is constantly engaged in the manufacture and development of psychedelic drugs.

• In February 2019, F. Hoffmann-La Roche Ltd signed a merger agreement in order to acquire Spark Therapeutics, a company highly focused on discovery and development of therapies targeting neurodegenerative disorders among others. This agreement boosted the company’s existing product portfolio and allowed it to expand its root in the market.

The company has various subsidiaries that are in America, Europe, Africa, Asia, and Oceania through its subsidiaries Roche Algeria SPA, Roche Diabetes Care Argentina S.A., Roche Diagnostics Australia Pty Limited, Roche Austria GmbH, Roche Bangladesh Limited among others.