The “Global Psychedelic Drugs Market (2021 Edition) – Analysis By Drug, Route of Administration, Distribution Channel, By Region, By Country: Market Insights, Pipeline Drugs, and Forecast with Impact of Covid-19 (2021-2026)” report has been added to ResearchAndMarkets.com’s offering.
The global Psychedelic Drugs Market was valued at USD 3.8 billion in the year 2020.
The psychedelic drug market with major potential for the treatment of mental illnesses is likely to see more demand and hence likely to attract major investments in the near future.
The Covid-19 pandemic has restricted the movement of people, confining them in their homes, caused severe trauma and stress in the form of sadness and loneliness, and has affected the mental health of individuals. As a result, in many countries, people are facing medical conditions like depression and anxiety.
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The Psychedelic drug market is growing rapidly due to the increasing prevalence of depression and other mental disorders worldwide. The need for handling environmental stress and enhanced and better quality of lifestyle is acting as a driver for the Psychedelic Drugs market. The treatment for psychedelic drug dependency is expected to boost the psychedelic market growth.
In addition, rising research and development activities in psychedelic therapeutics categories across the world have supported industrial development significantly. Companies are aggressively investing in R&D activities to develop novel psychedelic treatment molecules with minimal side effects associated with these products. This has further resulted in a strong platform for the further growth of the psychedelic drug industry during the forecast period.
The North American region dominates the psychedelic drugs market. In North America, growing awareness of mental health disorders such as depression and stress is expected to boost the psychedelic drug market growth. Social elements such as economic stress, the partition of family-oriented supporting structures, exacerbating environmental conditions are further estimated to accelerate market growth during the forecast period.
Scope of the Report
- The report presents the analysis of the Psychedelic Drugs Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Psychedelic Drugs Market by Route of Administration (Oral, Intranasal, Intravenous, Others)
- The report further assesses the Psychedelic Drugs Market by Drug (Gamma-hydroxybutyrate, MDMA, Ketamine, Psilocybin, Others)
- The report further assesses the Psychedelic Drugs Market by Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, Online Pharmacy)
- The Global Psychedelic Drugs has been analyzed By Region (North America, Europe, and the Asia Pacific) and By Country (United States, Canada, Germany, France, Italy, Spain, United Kingdom, China, Japan, India)
- The key insights of the report have been presented through the frameworks of Major Mergers & Acquisitions and Product Launch. Also, the attractiveness of the market has been presented By Region, By Route of Administration, By Drug, and By Distribution Channel. Additionally, trends, drivers, and challenges of the industry have been analyzed in the report.
- The companies analyzed in the report include Johnson & Johnson, Pfizer, AbbVie Inc., Jazz Pharmaceuticals, NUMINUS WELLNESS INC WS, COMPASS Pathways PLC, Mindset Pharma, Medicine Innovations Group, TRYP Therapeutics Inc, MindMeld, and Cybin Inc.
Source: Businesswire
