Global Psychedelic Drugs Market Overview:
Psychedelic Drugs, also known as psychedelics include both classic hallucinogens and dissociative drugs. These drugs are used in the treatment of the major depressive disorder, treatment-resistant depression, panic disorder, and promoting spiritual experiences. These drugs are used experimentally to mimic psychosis and to exert mind control. The increasing scientific researches of psychedelics drugs is expected to boost the market growth in the forecast period. Some of the key players profiled in the study are COMPASS (United Kingdom), The Emmes Company, LLC (United States), Klarisana (United Kingdom), AstraZeneca PLC (United Kingdom), F. Hoffmann-La Roche AG (Switzerland), Dr. Reddy’s Laboratories Ltd (India), Takeda Pharmaceutical Company Limited (Japan), Pfizer Inc (United States), Mylan N.V. (United States), Merck & Co., Inc (United States), Alkermes (Ireland), Allergan plc (Ireland) and H. Lundbeck A/S (Denmark).
On the basis of geography, the market of Psychedelic Drugs has been segmented into . If we see Market by Drug Type, the sub-segment i.e. Lysergic Acid Diethylamide (LSD) will boost the Psychedelic Drugs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Route of Administration, the sub-segment i.e. Oral will boost the Psychedelic Drugs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Direct Retailers will boost the Psychedelic Drugs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Psychedelic Drugs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Occurrence of Depression
- Treatment for Psychedelic Drugs Dependency
- Preference of Non-Therapeutics Therapies
- Changing Life Style and Demand for Enhanced Life Quality
- Growing Acceptance of Psychedelic Drugs for Treating Depression
- Poor Efficacy and Safety Profile Of Existing Intervention
Major Market Developments:
In September 2019, Johns Hopkins Medicine launched a new research center named Center for Psychedelic and Consciousness Research, with USD 17 million with aim to offer “psychedelic medicine”.
Target Audience:New Entrants/Investors, Analysts and Strategic Business Planners, Psychedelic Drugs Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry
Major Objectives Focused through this Study To define, describe, and forecast the Global Psychedelic Drugs market on the basis of product  , application [Major Depressive Disorder, Resistant Depression, Panic Disorder, Post-traumatic Stress Disorder, Opiate Addiction and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Psychedelic Drugs market with respect to major geographies, namely,
To strategically profile the key players and analyzing their market shares and core competencies in the Psychedelic Drugs industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Psychedelic Drugs market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.