Global Psychedelic Drugs Market Size | COVID-19 Impact Analysis, Segments, Top Key Players, Drivers and Trends to 2027

Psychedelic drugs are the category of therapeutic pharmaceuticals that are responsible for instigating psychedelic expressions in the patient consuming these drugs with the help of serotonin receptor agonism. This subsequently results in a number of changes in the visual and auditory functions of the consumer. This alteration of bodily function is also combined with changes in the consciousness causing a change of mindset amongst the patients. A majority of the drugs produced for these functioning include being developed from LSD, ecstasy, ketamine amongst various others.

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Psychedelic drugs market is growing due to increase in prevalence of depression worldwide, increase special designation from the regulatory authority; the effects of these factors are mentioned below:

• Increase in prevalence of depression worldwide: Psychedelic drugs are used for the treatment of different variants of depression and other clinical indications, although the major focus is on the treatment of depression and other different types of mental disorders. This is due to their capability of invoking consciousness changes by altering the visual and auditory functioning of the consumers. Therefore, the growing volume of depression in patients is directly affecting the market’s potential for growth.
• Increase special designation from the regulatory authority: Another important factor behind the market’s high growth potential is the different regional authorities providing specialized designation to these drug categories helping streamline the approval process by providing the specific requirements required from the drug for its approval in a timelier manner.

Segmentation: Global Psychedelic Drugs Market

By Application

• Major Depressive Disorder
• Resistant depression
• Panic disorder
• Post-traumatic stress disorder
• Opiate Addiction
• Others

By Drugs

• Lysergic Acid Diethylamide (LSD)
• 3,4-Methyl​Enedioxy​Methamphetamine (Ecstasy)
• Phencyclidine
• Gamma Hydroxybutyric Acid (GHB)
• Ketamine
• Ayahuasca
• Salvia
• Psilocybin
• Others

By Route of Administration

• Oral
• Injectable
• Inhalation

By Distribution Channel

• Direct Retailers
• Online Pharmacies
• Others

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Some of the major players operating in market are COMPASS, The Emmes Company, LLC, Klarisana, AstraZeneca, F. Hoffmann-La Roche Ltd, Dr. Reddy’s Laboratories Ltd, Takeda Pharmaceutical Company Limited, Pfizer Inc, Mylan N.V., Merck & Co., Inc, Alkermes, ALLERGAN, H. Lundbeck A/S among others.Access Full Report Directly With Discounted Price @ https://www.databridgemarketresearch.com/checkout/buy/enterprise/global-psychedelic-drugs-market

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