DUBLIN–(BUSINESS WIRE)–The “Psychedelic Drugs Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
The global psychedelic drugs market is expected to grow from $3.62 billion in 2021 to $4.19 billion in 2022 at a compound annual growth rate (CAGR) of 15.6%. The psychedelic drugs market is expected to reach $7.03 billion in 2026 at a CAGR of 14.2%.
The psychedelic drug market consists of sales of psychedelic drugs by entities (organizations, sole traders, and partnerships) that are used to treat depression and post-traumatic stress disorder and also help with mental health diagnoses. Psychedelic drugs refer to hallucinogens. These drugs are a group of substances that usually alter and enhance perception, thinking processes, energy levels, and promote mental experiences. These include chemicals such as Lysergic acid diethylamid (LSD) and plants such as peyote. These medications are used to treat a variety of brain conditions.
The main types of psychedelic drugs are lysergic acid diethylamid, ketamine, phencyclidine, gamma-hydroxybutyric acid (GHB), and salvia. Lysergic Acid Diethylamide (LSD) is also known colloquially as acid. LSD is manufactured in crystalline form and then mixed with other inert ingredients or diluted as a liquid to produce an ingestible form. The various disease indications include depression and PTSD, which could be natural or synthetic. The numerous applications include treatment-resistant depression, opiate addiction, post-traumatic stress disorder, narcolepsy, and panic disorders, and are distributed through various channels such as hospital pharmacies, retail pharmacies, and online pharmacies.
North America was the largest region in the psychedelic drug market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the psychedelic drug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in the cases of mental illnesses is expected to propel the growth of the psychedelic drug market going forward. Mental illnesses refer to health conditions involving changes in emotion, thinking, or behavior. Mental illnesses include conditions such as distress and post-traumatic stress disorder.
Psychedelic drugs are used to treat depression and post-traumatic stress disorder, and their regular usage decreases mental illnesses. For instance, in 2020, according to the National Alliance on Mental Illness (NAMI), a US-based mental health organization, 21% of adults in America were suffering from mental illness in 2020, which amounted to 52.9 million people. Therefore, an increase in the number of cases of mental illnesses is driving the growth of the psychedelic drug market.
The introduction of depression spray is the key trend gaining popularity in the psychedelic drug market. Major companies operating in the psychedelic drug market are introducing nasal-spray drugs for major depressive disorders to sustain their position in the market. For instance, in March 2019, Johnson & Johnson, a US-based company that manufactures psychedelic drugs and pharma medicines, launched a new depression spray named Spravato. The drug acts rapidly on the brain, so it starts working faster than other antidepressants. It works by restoring brain cells in patients with treatment-resistant depression.
Scope
Markets Covered:
1) By Type: Lysergic Acid Diethylamid (LSD); Ketamine; Phencyclidine; Gamma Hydroxybutyric Acid (GHB); Salvia
2) By Disease Indication: Depression; PTSD
3) By Origin: Natural; Synthetic
4) By Application: Treatment-Resistant Depression; Opiate addiction; Post- Traumatic Stress Disorder; Narcolepsy; Panic Disorders
5) By Distribution Channel: Hospitals Pharmacy; Retail Pharmacy; Online Pharmacy
Key Topics Covered:
1. Executive Summary
2. Psychedelic Drugs Market Characteristics
3. Psychedelic Drugs Market Trends And Strategies
4. Impact Of COVID-19 On Psychedelic Drugs
5. Psychedelic Drugs Market Size And Growth
6. Psychedelic Drugs Market Segmentation
7. Psychedelic Drugs Market Regional And Country Analysis
8. Asia-Pacific Psychedelic Drugs Market
9. China Psychedelic Drugs Market
10. India Psychedelic Drugs Market
11. Japan Psychedelic Drugs Market
12. Australia Psychedelic Drugs Market
13. Indonesia Psychedelic Drugs Market
14. South Korea Psychedelic Drugs Market
15. Western Europe Psychedelic Drugs Market
16. UK Psychedelic Drugs Market
17. Germany Psychedelic Drugs Market
18. France Psychedelic Drugs Market
19. Eastern Europe Psychedelic Drugs Market
20. Russia Psychedelic Drugs Market
21. North America Psychedelic Drugs Market
22. USA Psychedelic Drugs Market
23. South America Psychedelic Drugs Market
24. Brazil Psychedelic Drugs Market
25. Middle East Psychedelic Drugs Market
26. Africa Psychedelic Drugs Market
27. Psychedelic Drugs Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Psychedelic Drugs Market
29. Psychedelic Drugs Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/cqc44p
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