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Global Psychedelic Drugs Market – Industry Trends and Forecast to 2031

  • Pharmaceutical
  • Upcoming Report
  • Mar 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Psychedelic Drugs Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR - 13.3% Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 2.71 Million
Diagram Market Size (Forecast Year) USD 7.35 Million
Diagram CAGR 13.3%

Global Psychedelic Drugs Market, By Source (Synthetic and Natural), Type (Empathogens, Dissociatives, and Others), Drugs (Gamma-Hydroxybutyric Acid, Ketamine, Psilocybin, Lysergic Acid Diethylamide (LSD), 3,4-MethylEnedioxyMethamphetamine, and Others), Application (Narcolepsy, Treatment Resistant Depression, Major Depressive Disorder, Opiate Addiction, Post-Traumatic Stress Disorder, and Others), Route of Administration (Oral, Inhalation, and Injectable), End-User (Hospitals, Specialty Clinics, Homecare, and Others), Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, and Online Pharmacy) – Industry Trends and Forecast to 2031.

Psychedelic Drugs Market Analysis and Size

The psychedelic drugs market encompasses a variety of substances categorized into empathogens, dissociatives, and others. Empathogens such as MDMA enhance empathy and sociability, while Dissociatives such as ketamine induce feelings of detachment from reality. Other psychedelics such as psilocybin mushrooms and LSD alter perception and cognition. These substances are being researched for their potential therapeutic benefits in mental health treatment.

Data Bridge Market Research analyses that the global psychedelic drugs market, which was USD 2.71 billion in 2023, is expected to reach USD 7.35 billion by 2031, at a CAGR of 13.3% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation      

Report Metric

Details

Forecast Period

2024-2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Source (Synthetic and Natural), Type (Empathogens, Dissociatives, and Others), Drugs (Gamma-Hydroxybutyric Acid, Ketamine, Psilocybin, Lysergic Acid Diethylamide (LSD), 3,4-MethylEnedioxyMethamphetamine, and Others), Application (Narcolepsy, Treatment Resistant Depression, Major Depressive Disorder, Opiate Addiction, Post-Traumatic Stress Disorder, and Others), Route of Administration (Oral, Inhalation, and Injectable), End-User (Hospitals, Specialty Clinics, Homecare, and Others), Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, and Online Pharmacy)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Jazz Pharmaceuticals, Inc. (U.S.), Janssen Pharmaceuticals, Inc. (U.S.), Hikma Pharmaceuticals PLC (U.K.), Compass (U.S.), Verrian (Germany), Pfizer Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Avadel (Ireland), Celon Pharma SA.(Poland), Cybin Corp. (Canada), GH Research (Ireland), Entheon Biomedical Corp (Canada), PharmaTher Holdings Ltd. (India), NRx Pharmaceuticals, Inc. (U.S.), Usona Institute (U.S.)

Market Opportunities

  • Collaborations Between Academia and Industry Drive Advancements
  • Increasing Research Funding Fuels Psychedelic Drug Development

Market Definition

Psychedelic drugs refer to substances capable of inducing alterations in perception, mood, and cognition, often leading to profound subjective experiences. These compounds include substances such as psilocybin (found in certain mushrooms), LSD, and MDMA. They primarily act on serotonin receptors in the brain, potentially offering therapeutic benefits for mental health conditions when used under controlled settings.

Global Psychedelic Drugs Market Dynamics

Drivers

  • Growing Acceptance of Psychedelic Therapy in Healthcare

With an increasing number of clinical trials highlighting the therapeutic potential of substances such as psilocybin and MDMA in treating mental health disorders such as depression, PTSD, and addiction, there is a notable shift in attitudes among healthcare professionals and regulatory bodies. This acceptance paves the way for broader adoption and integration of psychedelic-assisted therapy into mainstream healthcare practices, driving significant market growth.

  • Expanding Legalization and Decriminalization Efforts Worldwide

With a growing acknowledgment of the therapeutic potential of psychedelics in treating mental health disorders, governments worldwide are revising their policies. From decriminalizing possession to legalizing medical and even recreational use, these efforts open up new avenues for research, development, and commercialization. As legal barriers crumble, the market for psychedelic drugs is poised for significant expansion, fueling innovation and investment in this emerging sector.

Opportunities

  • Collaborations Between Academia and Industry Drive Advancements

Academic institutions provide rigorous scientific research and expertise in studying the therapeutic potential and mechanisms of action of psychedelic compounds. Meanwhile, industry partners contribute resources, funding, and practical insights for drug development, formulation, and commercialization. This synergistic relationship accelerates the translation of scientific discoveries into innovative therapies. Such collaborations not only drive scientific progress but also present lucrative opportunities for both sectors to capitalize on the burgeoning market demand for psychedelic treatments.

  • Increasing Research Funding Fuels Psychedelic Drug Development

Increasing research funding plays a pivotal role in propelling psychedelic drug development within the market. This influx of financial support enables extensive scientific investigations into the therapeutic applications, safety profiles, and mechanisms of action of psychedelic compounds. As a result, it fosters the identification of novel drug candidates and the refinement of existing treatments. Moreover, heightened research activity attracts both public and private investments, creating a fertile ground for collaboration, innovation, and the emergence of breakthrough therapies, thereby fueling market growth and expansion opportunities.

Restraints/Challenges

  • Cultural Barriers may Impede Acceptance in Certain Regions

In societies where conservative attitudes prevail or where psychedelic drug use contradicts cultural norms or religious beliefs, acceptance of these substances may be limited. This lack of acceptance can lead to decreased demand for psychedelic therapies, reduced willingness among healthcare professionals to prescribe them, and challenges in regulatory approval processes.

  • Potential for Misuse Raises Concerns About Public Safety

Instances of misuse, whether recreational or self-administered without medical supervision, can result in adverse effects, including psychological distress or even exacerbation of underlying mental health conditions. Such incidents contribute to skepticism among regulators, healthcare professionals, and the public, impeding the widespread adoption of psychedelic therapies

This global psychedelic drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global psychedelic drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

  • In October 2022, Numinus Wellness Inc. launched its Ketamine for Chronic and Serious Medical Illness Program, signaling advancements in evidence-based psychedelic-assisted therapies. Initially introduced in Utah, British Columbia, and Quebec clinics, the program targets mental health disorders. The Company plans to expand to additional clinics, reflecting growing interest and investment in psychedelic treatments
  • In March 2022, University of California scientists released phase 3 clinical trial results on MDMA-assisted psychotherapy for PTSD treatment. The data showed promise, particularly in hard-to-treat patients, including those with substance use disorders. These findings underscore the potential of psychedelic therapies in addressing mental health challenges, driving interest and investment in the psychedelic drugs market

Global Psychedelic Drugs Market Scope

The global psychedelic drugs market is segmented on the basis of source, type, drugs, application, route of administration, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

  • Synthetic
  • Natural

Type

  • Empathogens
  • Dissociatives
  • Others

Drugs

  • Gamma-Hydroxybutyric Acid
  • Ketamine
  • Psilocybin
  • Lysergic Acid Diethylamide (LSD)
  •  3,4-MethylEnedioxyMethamphetamine
  • Others

Application

  • Narcolepsy
  • Treatment Resistant Depression
  • Major Depressive Disorder
  • Opiate Addiction
  • Post-Traumatic Stress Disorder
  • Others

 Route of Administration

  • Oral
  • Inhalation
  • Injectable

End-User

  • Hospital
  • Speciality Clinics
  • Homecare
  • Others

 Distribution Channel

  • Hospitals Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

Global Psychedelic Drugs Market Regional Analysis/Insights

The global psychedelic drugs market is analysed and market size insights and trends are provided by source, type, drugs, application, route of administration, end-user and distribution channel referenced above.

The countries covered in the global psychedelic drugs market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America leads the psychedelic drugs market in market share and revenue, expected to maintain dominance. The region's high prevalence of mental disorders and ongoing research development drive market growth. This sustained leadership underscores North America's pivotal role in shaping the trajectory of the psychedelic drugs market globally.

Asia-Pacific anticipates notable growth in the psychedelic drugs market attributed to expanding healthcare infrastructure and increasing public awareness. As the region invests in mental health services and education, coupled with rising acceptance of psychedelic therapies, it emerges as a key contributor to the market's global expansion and evolution.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The global psychedelic drugs market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global psychedelic drugs market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global psychedelic drugs market. The data is available for historic period 2016-2021.

Competitive Landscape and Global Psychedelic Drugs Market Share Analysis

The global psychedelic drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global psychedelic drugs market.

Some of the major players operating in the global psychedelic drugs market are:

  • Jazz Pharmaceuticals, Inc. (U.S.),
  • Janssen Pharmaceuticals, Inc. (U.S.)
  • Hikma Pharmaceuticals PLC (U.K.)
  • Compass (U.S.)
  • Verrian (Germany)
  • Pfizer Inc. (U.S.)
  • F. Hoffmann-La Roche Ltd (Switzerland)
  • Avadel (Ireland)
  • Celon Pharma SA.(Poland)
  • Cybin Corp. (Canada)
  • GH Research (Ireland)
  • Entheon Biomedical Corp (Canada)
  • PharmaTher Holdings Ltd. (India)
  • NRx Pharmaceuticals, Inc. (U.S.)
  • Usona Institute (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Growing Acceptance of Psychedelic Drugs for Treating Depression & Rising Prevalence of Depression and Mental Disorders are the growth drivers of the Psychedelic Drugs Market.
The source, type, drugs, application, route of administration, end-user and distribution channel are the factors on which the Psychedelic Drugs Market research is based.
The major companies in the Psychedelic Drugs Market are Jazz Pharmaceuticals, Inc. (U.S.), Janssen Global Services, LLC (a subsidiary of Johnson & Johnson Services, Inc.) (U.S.), Hikma Pharmaceuticals PLC (U.K.), COMPASS (U.S.), Verrian (Germany), Pfizer Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Avadel (Ireland), Celon Pharma SA. (Poland), Cybin Corp. (Canada), GH Research (Ireland), Entheon Biomedical Corp (Canada), PharmaTher Holdings Ltd. (India), NRx Pharmaceuticals, Inc. (U.S.), usonainstitute.org (U.S.).
The Psychedelic Drugs Market size will be worth USD 7.35 billion by 2031 during the forecast period.
The Psychedelic Drugs Market growth rate is 13.3% during the forecast period.
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