Global Psychedelic Drugs Market, By Source (Synthetic & Natural), Type (Empathogens, Dissociatives & Others), Drugs (Gamma-Hydroxybutyric Acid, Ketamine, Psilocybin, Others), Application (Narcolepsy, Treatment Resistant Depression, Major Depressive Disorder, Opiate Addiction, Post-Traumatic Stress Disorder, Others), Route of Administration (Oral, Inhalation, Injectable), End User (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, Online Pharmacy) Industry Trends and Forecast to 2029
Global Psychedelic Drugs Market Analysis and Insights
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 make 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.
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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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019-2014)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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By Source (Synthetic & Natural), Type (Empathogens, Dissociatives & Others), Drugs (Gamma-Hydroxybutyric Acid, Ketamine, Psilocybin, Others), Application (Narcolepsy, Treatment Resistant Depression, Major Depressive Disorder, Opiate Addiction, Post-Traumatic Stress Disorder, Others), Route of Administration (Oral, Inhalation, Injectable), End User (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, Online Pharmacy)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K, Italy, Spain, Netherlands, Russia, Switzerland, Belgium, Austria, Norway, Hungary, Lithuania, Ireland, Poland, Rest of Europe, India, South Korea, Australia, Singapore, Malaysia, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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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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Market Definition
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.
Psychedelic Drugs Market Dynamics
Drivers
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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.
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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.
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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
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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.
This 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 information on 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.
Post COVID-19 Impact on psychedelic drugs market
The COVID-19 has positively affected the market. Lockdowns and isolation during pandemics complicate the disease management and medication adherence. Hence, the use of various treatment drugs has widely increased in the world’s population. Hence, the pandemic has effected positively on this market.
Recent Developments
- 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.
• In January 2020, Jazz Pharmaceuticals, Inc. has received the marketing authorization of solriamfetol (Sunosi) indicated for treatment of excessive daytime sleepiness in adults with narcolepsy. This authorization allowed the company to enhance product distribution network and to generate more revenue in the market
Global Psychedelic Drugs Market Scope
Global Psychedelic drugs market is segmented into the source, type, drugs, application, route of administration, end user and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Source
- Synthetic
- Natural
On the basis of source, the global psychedelic drugs market is segmented into synthetic and natural.
Type
- Empathogens
- Dissociatives
- Others
On the basis of type, the global psychedelic drugs market is segmented into empathogens, dissociatives, and others.
Drugs
- Gamma-Hydroxybutyric Acid
- Ketamine
- Psilocybin
- Others
On the basis of drugs, the global psychedelic drugs market is segmented into gamma-hydroxybutyric acid, ketamine, psilocybin and others.
Application
- Narcolepsy,
- Treatment Resistant Depression
- Major Depressive Disorder
- Opiate Addiction
- Post-Traumatic Stress Disorder
- Others
On the basis of application, the global psychedelic drugs market is segmented into narcolepsy, treatment resistant depression, major depressive disorder, opiate addiction, post-traumatic stress disorder and others.
Route of Administration
- Oral
- Inhalation
- Injectable
On the basis of route of administration, the global psychedelic drugs market is segmented into oral, inhalation and injectable.
End User
- Hospital
- Speciality Clinics
- Homecare
- Others
On the basis of end user, the global psychedelic drugs market is segmented into hospital, speciality clinics, homecare, and others.
Distribution Channel
- Hospitals Pharmacy
- Retail Pharmacy
- Online Pharmacy
On the basis of distribution channel, the global psychedelic drugs market is segmented into hospitals pharmacy, retail pharmacy and online pharmacy.
Psychedelic Drugs Market Regional Analysis/Insights
The psychedelic drugs market is analysed and market size insights and trends are provided by country, source, type, drugs, application, route of administration, end user and distribution channel as referenced above.
North America dominates the psychedelic drugs market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to high prevalence of mental disorders in the region and rapid research development is boosting the market
The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to high competition from local and domestic brands, and impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Psychedelic Drugs Market Share Analysis
The psychedelic drugs market competitive landscape provides details by the competitors. 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, and application dominance. The above data points provided are only related to the companies' focus on psychedelic drugs market.
Some of the major players operating in the psychedelic drugs 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.
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. 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. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs. Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
Customization Available
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 analysed 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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