London, July 07, 2022 (GLOBE NEWSWIRE) -- The demand for psychedelic drugs has shot up in recent years as the awareness about mental health issues reaches all classes, irrespective of age and gender. According to Fairfield Market Research, the global psychedelic drugs market will be pegged at US$3210.0 Mn by the end of 2021 from US$6330.0 Mn in 2026. This surge in demand will rely on the growing vocabulary of the younger generation around mental health that is erasing taboos and revaluating the real call for help. The research report predicts that the global psychedelic drugs market will surge at a CAGR of 14.5% between the forecast years of 2021 and 2026.
Key Highlights into Global Psychedelic Drugs Market:
- Ketamine to exhibit a CAGR of 16.0% between the years of 2021 and 2026 as clinical trials test it for treating alcohol dependence, depression, bi-polar depression, suicide ideation, and social anxiety
- Naturally obtained products to gain 90 BPS as consumers opt for drugs with lesser side effects
- Synthetic products to retain dominance with an 85% market share by 2026
- Depression remain the primary condition treated by psychedelic drugs all throughout forecast period, reveals study. Condition is estimated to hold 40% market by end of 2021.
- Intranasal route of administration of psychedelic drugs to surge at a CAGR of 17% as Spravato reaches commercialization.
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Ketamine Achieves an Unprecedented Popularity
The demand for ketamine is expected to give the drug segment a good growth rate between the forecast years. Even at lower doses, the drug is capable of bringing in mood and cognitive changes. According to NCBI, ketamine is in 70 Phase 2 trials for treating psychiatric conditions and two Phase 3 trials for clinical depression. Its ability to have a positive effect on those suffering from PTSD, alcoholism, drug addiction, and obsessive-compulsive disorders is also expected to boost segment growth.
North America becomes Frontrunner
Fairfield Market Research states that North America accounts for a share of 50% in the global psychedelic drugs market. By the end of 2026, the regional market is expected to be worth US$3184.0 Mn. This unparalleled share will be due to ongoing clinical trials and strong presence of key players.
Some of the key players operating in the global psychedelic drugs market are Jazz Pharmaceuticals, Inc.; PharmaTher Holdings Ltd.; ATAI LIFE SCIENCES N.V.; COMPASS Pathways plc; Mind Medicine Inc.; and Janssen Pharmaceuticals, Inc.
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REPORT SCOPE & SEGMENTATION:
| REPORT FEATURES | DETAILS |
| Product |
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| Disease Indication |
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| Route of Administration |
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| Origin |
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| Geographical Coverage |
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| Leading Companies |
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| Report Highlights | Key Market Indicators, Market Estimates and Forecast, Market Dynamics, COVID-19 Impact Analysis, Competitive Landscape, Company Profiles, Regional Insights (Regulatory Scenario/Psychedelic Drugs Pipeline Analysis/Emerging Psychedelic Biotech Companies) |
Table of Contents:
1. Executive Summary
1.1. Global Psychedelic Drugs Market Outlook, 2018 - 2026 (US$ Million)
1.2. Global Psychedelic Drugs Market Incremental Opportunity, 2018 - 2026 (US$ Million)
1.3. Key Industry Trends
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Market Drivers
2.2.2. Market Restraints
2.2.3. Market Opportunities
2.3. Regulatory Scenario
2.4. Psychedelic Drugs Pipeline Analysis
2.5. Emerging Psychedelic Biotech Companies
3. Global Psychedelic Drugs Market Outlook, 2018 - 2026
3.1. Global Psychedelic Drugs Market Outlook, By Product, 2018 - 2026
3.1.1. Key Highlights
3.1.2. Global Psychedelic Drugs Market Outlook, by Product, Value (US$ Million), 2018 - 2026
3.1.2.1. DMT
3.1.2.2. Ketamine
3.1.2.3. LSD
3.1.2.4. MDMA
3.1.2.5. GHB
3.1.2.6. Psilocybin
3.1.2.7. Others
3.1.3. Global Psychedelic Drugs Market Share and BPS Analysis, by Product, 2021 and 2026
3.1.4. Global Psychedelic Drugs Market Attractiveness Analysis, by Product, 2021-2026
3.2. Global Psychedelic Drugs Market Outlook, By Disease Indication, 2018 - 2026
3.2.1. Key Highlights
3.2.2. Global Psychedelic Drugs Market Outlook, by Disease Indication, Value (US$ Million), 2018 - 2026
3.2.2.1. Depression
3.2.2.2. PTSD
3.2.2.3. Drug & Alcohol dependence
3.2.2.4. Others
3.2.3. Global Psychedelic Drugs Market Share and BPS Analysis, by Disease Indication, 2021 and 2026
3.2.4. Global Psychedelic Drugs Market Attractiveness Analysis, by Disease Indication, 2021-2026
3.3. Global Psychedelic Drugs Market Outlook, By Route of Administration, 2018 - 2026
3.3.1. Key Highlights
3.3.2. Global Psychedelic Drugs Market Outlook, by Route of Administration, Value (US$ Million), 2018 - 2026
3.3.2.1. Oral
3.3.2.2. Intranasal
3.3.2.3. Intravenous
3.3.3. Global Psychedelic Drugs Market Share and BPS Analysis, by Route of Administration, 2021 and 2026
3.3.4. Global Psychedelic Drugs Market Attractiveness Analysis, by Route of Administration, 2021-2026
3.4. Global Psychedelic Drugs Market Outlook, By Origin, 2018 - 2026
3.4.1. Key Highlights
3.4.2. Global Psychedelic Drugs Market Outlook, by Origin, Value (US$ Million), 2018 - 2026
3.4.2.1. Natural
3.4.2.2. Synthetic
3.4.3. Global Psychedelic Drugs Market Share and BPS Analysis, by Origin, 2021 and 2026
3.4.4. Global Psychedelic Drugs Market Attractiveness Analysis, by Origin, 2021-2026
3.5. Global Psychedelic Drugs Market Outlook, By Region, 2018 - 2026
3.5.1. Key Highlights
3.5.2. Global Psychedelic Drugs Market Outlook, by Region, Value (US$ Million), 2018 - 2026
3.5.2.1. North America
3.5.2.2. Europe
3.5.2.3. Asia Pacific
3.5.2.4. Rest of World
3.5.3. Global Psychedelic Drugs Market Share and BPS Analysis, by Region, 2021 and 2026
3.5.4. Global Psychedelic Drugs Market Attractiveness Analysis, by Region, 2021-2026
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