- Psychedelic drugs, encompassing substances such as psilocybin, MDMA, and LSD, are gaining significant traction in North America for their potential therapeutic benefits in treating mental health disorders, including depression, PTSD, anxiety, and addiction, with increasing incorporation into clinical research and emerging treatment models.
- The escalating demand for psychedelic drugs is primarily fueled by rising mental health awareness, a growing body of scientific evidence supporting their efficacy, and the gradual shift in public and regulatory attitudes towards decriminalization and medical legalization.
- U.S. dominated the North America psychedelic drugs market with the largest revenue share of 86.5% in 2024, characterized by active clinical trials, the involvement of major pharmaceutical players, and growing acceptance of psychedelic-assisted therapies by mental health professionals
- Canada is expected to witness the highest compound annual growth rate (CAGR) in the North America psychedelic drugs market due to federal exemptions for psilocybin-assisted therapy and expanding research initiatives
- Psilocybin segment dominated the North America psychedelic drugs market with a market share of 40.3% in 2024, driven by its demonstrated effectiveness in treating major depressive disorders and its progressive movement through FDA’s breakthrough therapy designation pathway
