Psychedelic Drugs Market Trends Analysis, Top Manufacturers, Shares, Growth, Statistics and is Grow at a CAGR of 13.3% & is Expected to Reach USD 8,020.01 Million by 2029
DBMR has recently updated the Psychedelic Drugs Market research report gives the knowledge of all the above factors with transparent, wide-ranging, and supreme quality market studies. The winning report is helpful to develop/modify business expansion plans by using substantial growth offering developed and emerging marketObjectives of report include; to describe major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Market and submarkets. To enhance decision-making process by understanding the strategies that underpins commercial interest with respect to products, segmentation, and industry verticals. Strategic recommendations in key business sections in light of the market estimations market share and size of all the foremost industry players Strategic proposals for the new participants.
Global psychedelic drugs market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 13.3% in the forecast period of 2022 to 2029 and is expected to reach USD 8,020.01 million by 2029 from USD 2,992.51 million in 2021. Rising prevalence of mental depression and anxiety and availability of off label drugs are the major drivers which propelled the demand of the market in the forecast period.
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Market Scenario of 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 sensory 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. Both the types of psychedelic drugs can cause hallucinations and feeling of sensation, moreover, dissociative drugs can make a person to fell out of control from their body or environment and makes them feel disconnected. Based on the source, psychedelic drugs have been categorized under natural and synthetic types. These drugs have wide applications in the treatment of major depressive disorder, post-traumatic stress disorder, panic disorder, treatment-resistant depression and opiate addiction among others. Psychedelic drugs are also known by several other names such as LSD (lysergic acid derivative) which are also known as blotter, dots, sugar, acid, trips and window pane, ketamine are also known as vitamin K, bump, green, K/special K, purple and super acid, PCP are also known as angel/angel dust, boat/love boat, peace, killer weed, super grass and ozone.
The increasing prevalence of depression and mental disorders worldwide as the psychedelic drugs have repetitively proven for its high rates of effectiveness is expected to act as driver for the growth of the market. The high cost of treatment is expected to act as challenge for the growth of the market. Further, rising awareness towards mental health by various non-profit, non-governments, government, national, international organizations is expected to act as opportunity for the growth of the market. However, the side effects associated may expected to challenge the market growth.
The Global psychedelic drugs 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 market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Global Psychedelic Drugs Market Scope and Market Size
Global psychedelic drugs market is segmented into seven notable segments which are by source, type, drugs, application, route of administration, end user & distribution channel.
On the basis of source, the global psychedelic drugs market is segmented into synthetic and natural. In 2022, the synthetic segment is expected to dominate the global psychedelic drugs market 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 global psychedelic drugs market is segmented into empathogens, dissociatives, and others. In 2022, the empathogens segment is expected to dominate the global psychedelic drugs market as it produce experiences of emotional communion, oneness, relatedness and used for treatment of cataplexy, narcolepsy and related disorders.
On the basis of drugs, the global psychedelic drugs market is segmented into gamma-hydroxybutyric acid, ketamine, psilocybin and others. In 2022, the gamma-hydroxybutyric acid segment is expected to dominate the global psychedelic drugs market as xyrem whose active ingredient is gamma-hydroxybutyric acid, 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 global psychedelic drugs market is segmented into narcolepsy, treatment resistant depression major depressive disorder, opiate addiction, post-traumatic stress disorder and others. In 2022, the narcolepsy segment is expected to dominate the global psychedelic drugs market as large number of population suffers from narcolepsy.
On the basis of route of administration, the global psychedelic drugs market is segmented into oral, inhalation and injectable. In 2022, the oral segment is expected to dominate the global psychedelic drugs market as it is preferred over the various other administration routes of drug delivery. It offers several advantages including safety, easier patient compliance and pain/inconvenience avoidance.
On the basis of end user, the global psychedelic drugs market is segmented into hospitals, specialty clinics, homecare and others. In 2022, the hospitals segment is expected to dominate the global psychedelic drugs market due to the high patient load and most of the drugs are given under doctor’s supervision. Due to this reason, hospitals segment dominates the psychedelic drugs market.
On the basis of distribution channel, the global psychedelic drugs market is segmented into hospitals pharmacy, retail pharmacy and online pharmacy. In 2022, the hospitals pharmacy segment is expected to dominate the global psychedelic drugs market as it holds the largest market share as more number of patients are treated in hospitals and the demand for medicines in hospital pharmacy increases.
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Global Psychedelic Drugs Market Country Level Analysis
Global psychedelic drugs market is analysed and market size information is provided on basis of seven notable segments which are by source, type, drugs, application, route of administration, end user & distribution channel.
Countries included in global psychedelic drugs market are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, Hungary, Austria, Norway, Ireland, Belgium, Lithuania, Rest of Europe, India, Australia, South Korea, Singapore, Malaysia, Saudi Arabia, Israel, Egypt, U.A.E, South Africa, Rest of Middle East and Africa, Brazil, Argentina & Rest of South America.
North America is expected to grow with the fastest CAGR in the forecasted periods due to the advancements in healthcare sector, rising R&D, and increasing awareness among people. Europe is expected to grow due to increasing prevalence of mental disorders and effectiveness of psychedelic to treat such disorders. Asia-Pacific is expected to grow due to the growing acceptance of psychedelic to treat depression.
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 global 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.
Strategic Initiatives by Market Players Is Creating New Opportunities in the Global Psychedelic Drugs Market
Global psychedelic drugs market also provides you with detailed market analysis for every country growth in psychedelic drugs, impact of advancement in global psychedelic drugs and changes in regulatory scenarios with their support for the global psychedelic drugs market. The data is available for historic period 2011 to 2020.
Competitive Landscape and Global Psychedelic Drugs Market Share Analysis
Global psychedelic drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to global psychedelic drugs market.
Global Psychedelic Drugs Market Development
In July 2020, Jazz Pharmaceuticals, Inc. announced that it has received FDA approval for its Xywav oral solution for the treatment of excessive daytime sleepiness. The product is an oxybate product with unique composition of cations resulting in 92% less sodium. This has helped the company to increase its product portfolio.
Scope of the Global Psychedelic Drugs Market
The global psychedelic drugs market is segmented into five regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa. The regions are further segmented into major countries such as the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, Hungary, Austria, Norway, Ireland, Belgium, Lithuania, Rest of Europe, India, Australia, South Korea, Singapore, Malaysia, Saudi Arabia, Israel, Egypt, U.A.E, South Africa, Rest of Middle East and Africa, Brazil, Argentina & Rest of South America. All country-based analysis of global psychedelic drugs market is further analyzed based on further segmentation.
Global psychedelic drugs market, by source (synthetic, natural), type (empathogens, dissociatives, others), drugs (child gamma-hydroxybutyric acid, ketamine, psilocybin, others), application (narcolepsy, treatment resistant depression, major depressive disorder, opiate addiction, post-traumatic stress disorder, others) route of administration (oral, inhalation, injectables) end user (hospitals, specialty clinics, homecare and others), distribution channel (hospital pharmacy, retail pharmacy, online pharmacy), By Geography (North America, Europe, Asia-Pacific, South America, Middle East & Africa)- Industry Trends and Forecast to 2029.
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Key Pointers Covered in Global Psychedelic Drugs Market and Forecast to 2029
Market Size
Top to Bottom Market Analysis
Recent Developments for Market Competitors
Recent Market Value for Different Countries
Market value and over view of psychedelic drugs market
Company profiling of top eight players of psychedelic drugs market
Key Market Competitors Covered in the Report
Jazz Pharmaceuticals, Inc.
Janssen Pharmaceuticals, Inc. (A Subsidiary of Johnson & Johnson Services, Inc.)
Pfizer Inc.
Verrian
Avadel
Celon Pharma S.A.
COMPASS
F. Hoffmann-La Roche Ltd
Hikma Pharmaceuticals PLC
NeuroRx, Inc.
PharmaTher Inc.
usonainstitute.org
Mind Medicine, Inc.
Cybin Corp.
GABA Therapeutics, Inc.
EmpathBio
DemeRx
Above are the key players covered in the report, to know about more and exhaustive list of psychedelic drugs market companies’, contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-psychedelic-drugs-market
Psychedelic Drugs Market report puts forth a range of segments linked to Market segmentation studies carried out in this report with respect to product type, applications, and geography are important in taking any verdict about the products. A Market analysis report covers detailed value chain analysis of the market. The value chain analysis helps to analyze major upstream raw materials, major equipment, manufacturing process, and downstream customer analysis and major distributor analysis are mentioned in the report along with all the drivers and restraints for the market. It presents a comparative detailed analysis of the all regional and player segments, offering readers a better knowledge of the areas in which they can place their existing resources and gauging the priority of a particular region in order to boost their standing in the market.
Psychedelic Drugs Market research report makes available the details about historic data, present market trends, future product environment, marketing strategies, technological innovation, upcoming technologies, emerging trends or opportunities, and the technical progress in the associated industry. The world class Market report describes recent industry trends and developments. Under market penetration, it gives comprehensive information about the top players in the industry, their product portfolios, and their key strategies. The report describes major factors (drivers, restraints, opportunities, and challenges) that are influencing the growth of the Market and submarkets. It assesses the market shares for new entrants. The report covers strategic profiling of the key players and brands. Under competitive assessment, it performs in-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the market.
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