North America 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

North America 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 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.

North America 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 13.4% in the forecast period of 2022 to 2029 and is expected to reach USD 5,691.93 million by 2029 from USD 2,106.77 million in 2021.

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

• Ongoing Clinical Trials

The major depressive disorder has become a serious concern of health crisis in the modern world. The onset of clinical trials is to test the safety and efficacy of the designated drug, which is under a particular phase of a clinical trial. Depression is associated with greater deformities than most of other chronic illness and hence it poses as a risk factor for mortality. Most of the patients suffering from depression are not able to experience a complete tenacity of symptoms with antidepressant treatment. Certain clinical trials have been conducted to study the efficacy in the body. The ongoing clinical trials all over the regions would result in rapid drug approvals, enhanced drug portfolio, distribution of the psychedelics drugs in rehabilitation centres and increased awareness about the drug medication, which in turn is expected to act as driver for the growth of the market.

• Rise In Product Approvals

The approval of psychedelic drugs depends on numerous factors, but the vital factor is the approval from the principal medical authority. The U.S. Food and Drug Administration is the leading authority for the drug approvals in the U.S. The central body decides whether the medical drugs would ultimately reach the hands of the patients. Below provided are the clinical data by established medical studies that has been reviewed by FDA in order to evaluate the feasibility of developed drug compounds or products as treatments for specific mental ailments. The rise in product approvals would result in increased distribution of the medications across national and international countries. It would deliver a positive growth in the market.

Opportunity

• Upcoming Rehabilitation Centers

The presence of upcoming rehabilitation centers, also termed as in patient rehabilitation hospitals would ensure the timely treatment of the patients suffering from PTSD, anxiety related disorders. These rehabilitation centers provide with the effective therapies and allow patients to achieve advanced drugs which improve the overall patient’s outcome. It would also devote to patients who would require anesthetic treatments for complicated surgeries, orthopedic, neurological, musculoskeletal, in order to stabilize the acute medical conditions.

Also, the increasing R&D activities in psychedelic drugs will provide structural integrity and future opportunities for the psychedelic drugs market in the forecast period of 2022-2029.

Restraint/Challenge

• Patent Expiry Of Psychedelic Drugs

However, the patent expiry of psychedelic drugs in some of the companies 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 Development

• 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.

North America Psychedelic Drugs Market Scope

North America psychedelic drugs market is segmented into 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 North America psychedelic drugs market is segmented into synthetic and natural.

Type

• Empathogens
• Dissociatives
• Others

On the basis of type, the North America psychedelic drugs market is segmented into empathogens, dissociatives, and others.

Drugs

• Gamma-Hydroxybutyric Acid
• Ketamine
• Psilocybin
• Others

On the basis of drugs, the North America 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 North America 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 North America psychedelic drugs market is segmented into oral, inhalation, injectable.

End User

• Hospital
• Specialty Clinics
• Homecare
• Others

On the basis of end user, the North America psychedelic drugs market is segmented into hospital, specialty clinics, homecare, and others.

Distribution Channel

• Hospitals Pharmacy
• Retail Pharmacy
• Online Pharmacy

On the basis of distribution channel, the North America 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.

The countries covered in the psychedelic drug report are U.S., Canada and Mexico.

U.S. country in 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 depression 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, Pfizer Inc., F. Hoffmann-La Roche Ltd, Avadel, Cybin Corp., 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, North America vs. Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.