Global Psychedelic Drugs Market is expected to grow with the CAGR of 13.3% in the forecast period of 2021 to 2028. 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 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 dominating player and the other players in the market are Janssen Pharmaceuticals, Inc. (a subsidiary of Johnson & Johnson Services, Inc.), Hikma Pharmaceuticals PLC, COMPASS, Verrian, Pfizer Inc., F. Hoffmann-La Roche Ltd, PharmaTher Inc., Avadel, Celon Pharma S.A., NeuroRx, Inc., usonainstitute.org among others.

Jazz Pharmaceuticals, Inc.

Jazz Pharmaceuticals, Inc. headquartered in Dublin, Ireland was incorporated in 2013. 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.

For instance;

• 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 such as Jazz Pharmaceuticals Ireland Limited (Ireland), Jazz Financing Eye Designed Activity Company (Ireland), Jazz Capital Limited (Ireland), Jazz Pharmaceuticals, Inc. (U.S.), Celator Pharmaceuticals, Inc. (U.S.) among others.

Janssen Pharmaceuticals, Inc.

Janssen Pharmaceuticals, Inc. headquartered in New Jersey, U.S. was founded in 1886. 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 under the categories of consumer health products, medical devices and pharmaceutical products. The company operates in the pharmaceutical, medical device and consumer segments. Market focus is under the products pharmaceutical segment. The company is constantly engaged in the manufacture and development of psychedelic drugs.

For instance;

• In December 2020, Janssen Pharmaceuticals, Inc. received approval to market SPRAVATO across Europe. This medicine is used in combination with SSRI and SNRI for the treatment of resistant depression. Marketing of SPRAVATO in the form of nasal spray will increase company revenue

The company has presence in Europe, Middle East and Africa, Asia-Pacific, and Americas through its subsidiaries Johnson & Johnson Vision Care, Inc. (U.S.), Neutrogena (U.S.), DePuy Synthes (U.S.), Ethicon USA, LLC. (U.S.), Janssen Global Services, LLC (Belgium) 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 under the categories of biopharma, Upjohn and consumer healthcare. The company operates in the pharmaceutical, medical device and consumer segments. Market focus is under the products consumer healthcare. The company is constantly engaged in the manufacture and development of psychedelic drugs. For instance,

• In October 2014, Pfizer Inc. had demonstrated the low potential of Pristiq for sexual dysfunction in adults with major depressive disorder. The drug showed a significant improvement in the patients treated with Pristiq as compared to placebo. The clinical trials would lead to enhancement in drug portfolio, rise in revenue for the coming years. It has delivered a linear growth in the market.

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