17-Aug-2021

Europe Psychedelic Drugs Market is Growing at 15.0% CAGR & is Expected to Reach USD 1,094.82 Million Forecast Period of 2021-2028

Europe Psychedelic Drugs Market is accelerating with factors such as increasing prevalence of depression and mental disorders and growing research activities among scientists and researchers in the area of psychedelic drugs to create more of treatment options for the people suffering from depression and mental disorder are driving the growth of Europe psychedelic drugs market.

Europe psychedelic drugs market has shown an increasing prevalence of depression and mental disorders which are increasing demand of psychedelic drugs. Although, regulations imposed on psychedelic drugs restricts the growth of the market.

The psychedelic drugs market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 11.5% in the forecast period of 2021 to 2028 and is expected to reach USD 1,094.82 million by 2028. The rising prevalence of mental depression and anxiety and availability of off-label drugs are the major drivers which has propelled the demand of the psychedelic drugs market in the forecast period.

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Key Pointers Covered in the Psychedelic Drugs Market Industry Trends and Forecast to 2027

Market Size
Market Framework and Changes
Psychedelic Drugs Pipeline
Mental Disorders Epidemiology
Market Practicing Psychiatrists Data
Recent Developments for Market Competitors
Recent Market value for Different Regions
Sales Data for Market Competitors
key Vendors and Disruptors Study

Key Market Competitors Covered in the Report

Johnson & Johnson Services, Inc.
Jazz Pharmaceuticals, Inc.
Celon Pharma SA
COMPASS
usonainstitute.org
Develco pharma schweiz ag
Doughlas pharmaceuticals limited
NeuroRX, Inc.
Hikma Pharmaceuticals PLC
Amneal Pharmaceuticals, LLC.
AVADEL PHARMACEUTICALS, PLC

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Market Analysis and Insights: European Psychedelic Drugs Market

Psychedelic drugs involve various types of chemical substances including LSD and chemical extracted from plants. Psychedelic drugs have the ability to change or enhance the senosory perceptions, thought processes, energy levels and have also been reported to facilitate spiritual experiences. Psychedelic drugs can be categorized into empathogens and dissociative drugs (such as PCP) and serotonergic (classic hallucinogens) such as LSD.

The awareness campaigns have encouraged people to select appropriate treatment for mental disorders procedures and professionals which is increasing the demand of psychedelic drugs and the rising awareness towards mental health is acting as a driver for the psychedelic drugs market. Changes in the regulation charges for psychedelic drugs approval and taking regulatory approval could lead to delay product launch and stringent regulatory is working as a restraint for the psychedelic drugs market. Increasing research and development expenditure in the psychedelic drugs is creating new opportunities in the psychedelic drugs market, thus increasing R&D activities in psychedelic drugs is acting as an opportunity for the growth of the psychedelic drugs market. The increasing side effects of the psychedelic drugs act as a challenge for the growth of the psychedelic drugs market in the forecasted period.

The psychedelic drugs market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the psychedelic drugs market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

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Europe Psychedelic Drugs Market Scope and Market Size

The psychedelic drugs market is segmented into seven notable segments which are based on the source, type, drugs, application, route of administration, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of source, the psychedelic drugs market is segmented into synthetic and natural. In 2021, synthetic segment is dominating as most of the products are made from chemicals that are man-made with very few products such as psilocybin made from natural ingredients.
On the basis of type, the psychedelic drugs market is segmented into dissociatives, empathogens and others. In 2021, empathogens segment produce experiences of emotional communion, oneness, relatedness and used for treatment of cataplexy, narcolepsy and related disorders.
On the basis of drugs, the psychedelic drugs market is segmented into gamma-hydroxybutyric acid, ketamine, psilocybin and others. In 2021, gamma-hydroxybutyric acid segment is dominating as xyrem from Jazz Pharmaceutical is one of the oldest available psychedelic drugs available in the market holding a major share and belongs to the drug class.
On the basis of application, the psychedelic drugs market is segmented into narcolepsy, treatment resistant depression, post-traumatic stress disorder, major depressive disorder, opiate addiction and others. In 2021, narcolepsy segment is dominating as xyrem from Jazz Pharmaceutical is used for its treatment and it is the major shareholder in the market.
On the basis of route of administration, the psychedelic drugs market is segmented into oral, inhalation and injectable. In 2021, oral segment is dominating as it is preferred over the various other administration routes of drug delivery.
On the basis of end user, the psychedelic drugs market is segmented into hospitals, specialty clinics, homecare and others. In 2021, hospitals segment dominate the psychedelic drugs market due to the high patient load and most of the drugs are given under doctor’s supervision.
On the basis of distribution channel, the psychedelic drugs market is segmented into hospitals pharmacy, retail pharmacy and online pharmacy. In 2021, hospitals pharmacy segment holds the largest market share as more number of patients is treated in hospitals and the demand for medicines in hospital pharmacy increases.

Europe Psychedelic Drugs Market Country Level Analysis

Europe psychedelic drugs market is analysed and market size information is based on the country, source, type, drugs, application, route of administration, end user and distribution channel as referenced above.

The countries covered in the Europe psychedelic drugs market report are the Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, Hungary, Austria, Norway, Ireland, Belgium, Lithuania and rest of Europe.

Germany is dominating in the Europe psychedelic drugs market and is expected to grow with the fastest CAGR in the forecast period as the demand for psychedelic drugs are increasing very rapidly due to increasing patient population and advancement in technology.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Key Offerings:

– Market Size and Forecast by Revenue | 2021−2028
– Market Dynamics – Leading patterns, development drivers, limitations, and venture openings
– Market Segmentation – An itemized examination by item, by types, end-client, applications, fragments, and geology
– Competitive Landscape – Top key sellers and other conspicuous vendorsInquire

Research Methodology: Europe Psychedelic Drugs Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

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, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

Demand Side: Psychiatrists, Psychedelic Therapists, Researchers, Practitioners, and Activists, Academician, Distributors, Hospitals, Nurses, and Industrial Professionals.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

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Last Updated: 17-Aug-2021