ENG
Psychedelic Drugs Market: Global Industry Analysis and Forecast (2024-2030) by Product, Disease Indication, Route Administration, Distribution Channel and, Region.
Psychedelic Drugs Market size was valued at US$ 5.50 Billion in 2023 and the Psychedelic Drugs revenue is expected to grow at 13% through 2024 to 2030, reaching nearly US$ 12.94 Billion.
Format : PDF | Report ID : SMR_296
Psychedelic Drugs Market Definition & Overview:
Psychedelic drugs alter sensory impressions, energy levels, cognitive processes, and spiritual experiences, among other things. The three forms of psychedelic drugs include dissociative pharmaceuticals (such as phencyclidine), empathogens, and serotonergic drugs (such as lysergic acid diethylamide). These drugs are used to treat the major depressive disorder, treatment-resistant depression, panic disorder, post-traumatic stress disorder, and opiate addiction, among other conditions. The Psychedelic Drugs Market segment analysis is studied on the basis of product, disease indication, route of administration, distribution channel and region.
To get more Insights: Request Free Sample Report
Psychedelic Drugs Market Dynamics:
The psychedelic drugs market has grown significantly as a result of the introduction of new psychedelic drugs. Besides that, because psychedelic medications have repeatedly demonstrated their high rates of effectiveness in the treatment of nicotine addiction, alcohol addiction, and anxiety-related terminal illness, market growth is being driven by an increase in acceptance of the medications for the treatment of depression.
The rapid growth of the psychedelic drugs market is due to the growing adoption of innovative drug combinations by leading companies in the biotechnology and pharmaceutical sectors. Introducing new technology and innovation to the biological process leads to progress. The driving force for the demand has been the government's indulgence in spreading the word of awareness among the people. The market has been driven by the vast patient pool's need for new long-acting medications with lower consumption frequency.
According to the WHO, there has been an increase in the number of mental disease patients in various countries, which has resulted in a growth in the medication market. In recent years, new medications have been launched. Changes in lifestyle and a desire to live a higher quality of life have contributed to the psychedelic drugs market's growth.
Psychedelic Drugs Market Segment Analysis:
During the forecast period, oral drugs accounted for about 55% of the psychedelic drugs market. With the launch of medicines like Spravato, an intranasal general anesthetic that was approved by the FDA in August 2020 for the short-term treatment of suicidal thoughts, the intranasal segment is expected to grow at a much faster rate of 17 percent from 2021 to 2027. The state of Oregon in the United States is seeking to decriminalize magic mushrooms, and a local firm called Silo Wellness has produced a psilocybin nasal spray to treat depression and PTSD.
Hospital pharmacies are the most popular distribution route, accounting for more than 56 percent of the market. Growing public knowledge of psychedelic substances, as well as their restricted distribution for certain purposes, is propelling the rise of hospital pharmacy as a distribution route for these medications, all while maintaining patient safety.
Psychedelic Drugs Market Regional Insights:
Due to an influx of clinical studies, substantial expenditures, governmental backing, and extensive public awareness, North America is expected to remain the dominant region in the psychedelic drugs market. By the end of the forecast period, the continent will have generated half of the revenue in the global psychedelic drugs market, which is expected to be worth $3184.0 million. The regional market is likely to benefit from the strong presence of enterprises and continuing clinical studies. With a market share of 93.5 percent in 2021, the United States will continue to dominate the North American region, with substantial growth expected throughout the forecast period. The FDA's acknowledgment of advanced medicinal compound portfolios generated from psychedelic drugs is propelling this regional market forward. The U.S. FDA's recent approval of Jannsen's Spravato has cemented this important player's supremacy in the region.
Europe is the second most important location for increasing demand for psychedelic drugs. Germany is believed to be the most powerful country in Europe. As the world's population grows, so does the need for hallucinogenic substances. Private and government investments in new drug research and development have been in high demand, propelling the European psychedelic drugs market to the top. People are overthinking what is advantageous to their health as the incidence rate of mental illness rises. This has raised a lot of awareness among people and governments.
The objective of the report is to present a comprehensive analysis of the Psychedelic Drugs Market to the stakeholders in the industry. The report provides trends that are most dominant in the Psychedelic Drugs Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.
The qualitative and quantitative data provided in the Psychedelic Drugs Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Psychedelic Drugs Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the global market.
The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Psychedelic Drugs Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.
Psychedelic Drugs Market Scope:
|
Psychedelic Drugs Market |
|
|
Market Size in 2023 |
USD 5.50 Bn. |
|
Market Size in 2030 |
USD 12.94 Bn. |
|
CAGR (2024-2030) |
58% |
|
Historic Data |
2018-2022 |
|
Base Year |
2023 |
|
Forecast Period |
2024-2030 |
|
Segment Scope |
by Product
|
|
by Disease Indication
|
|
|
by Route of Administration
|
|
|
by Distribution Channel
|
|
|
Regional Scope |
North America- United States, Canada, and Mexico
Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America |
Psychedelic Drugs Market Players:
- The Emmes Company (United States)
- AstraZeneca (United Kingdom)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Dr. Reddy’s Laboratories Ltd (Hyderabad)
- Takeda Pharmaceutical Company Limited (Japan)
- Pfizer Inc. (United States)
- Mylan N.V. (United States)
- Merck & Co., Inc. (United States)
- Alkermes (Ireland)
- ALLERGAN (Ireland)
- H. Lundbeck A/S (Denmark)
- Mota Ventures Corp. (Canada)
- Janssen Pharmaceuticals (Belgium)
- Hikma Pharmaceuticals PLC (United Kingdom)
- Avadel (Ireland)
- Celon Pharma S.A (Poland)
Frequently Asked Questions
The market for psychedelic drugs has grown significantly as a result of the introduction of new psychedelic drugs.
North America is expected to remain the dominant region in the psychedelic drugs market.
Private and government investments in new drug research and development have been in high demand, propelling the market to the top.
The Emmes Company, AstraZeneca, F. Hoffmann-La Roche Ltd, Dr. Reddy’s Laboratories Ltd, Takeda Pharmaceutical Company Limited.
Chapter 1 Scope of the Report
Chapter 2 Research Methodology
2.1.Research Process
2.2.Global Psychedelic Drugs Market: Target Audience
2.3.Global Psychedelic Drugs Market: Primary Research (As per Client Requirement)
2.4.Global Psychedelic Drugs Market: Secondary Research
Chapter 3 Executive Summary
Chapter 4 Competitive Landscape
4.1. Market Share Analysis, By Region, 2023-2030(In %)
4.1.1.1.North America Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.2.Europe Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.3.Asia Pacific Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.4.South America Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.5.Middle East and Africa Market Share Analysis, By Value, 2023-2030 (In %)
4.2. Market Dynamics
4.2.1.Market Drivers
4.2.2.Market Restraints
4.2.3.Market Opportunities
4.2.4.Market Challenges
4.2.5.PESTLE Analysis
4.2.6.PORTERS Five Force Analysis
4.2.7.Value Chain Analysis
4.3. Global Psychedelic Drugs Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.3.1.1.Global Market Share Analysis, By Product, 2023-2030 (Value US$ MN)
4.3.1.1.1.DMT
4.3.1.1.2.Ketamine
4.3.1.1.3.LSD
4.3.1.1.4.MDMA
4.3.1.1.5.GHB
4.3.1.1.6.Psilocybin
4.3.1.1.7.Others
4.3.1.2. Global Market Share Analysis, By Disease Indication, 2023-2030 (Value US$ MN)
4.3.1.2.1.Depression
4.3.1.2.2.PTSD
4.3.1.2.3.Drug & Alcohol dependence
4.3.1.2.4.Others
4.3.1.3. Global Market Share Analysis, By Route of Administration, 2023-2030 (Value US$ MN)
4.3.1.3.1.Oral
4.3.1.3.2.Intranasal
4.3.1.3.3.Intravenous
4.3.1.4. Global Market Share Analysis, By Distribution Channel, 2023-2030 (Value US$ MN)
4.3.1.4.1.Online Pharmacies
4.3.1.4.2.Hospital Pharmacies
4.3.1.4.3.Retail pharmacies
4.4. North America Psychedelic Drugs Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.4.1.1.North America Market Share Analysis, By Product, 2023-2030 (Value US$ MN)
4.4.1.1.1.DMT
4.4.1.1.2.Ketamine
4.4.1.1.3.LSD
4.4.1.1.4.MDMA
4.4.1.1.5.GHB
4.4.1.1.6.Psilocybin
4.4.1.1.7.Others
4.4.1.2. North America Market Share Analysis, By Disease Indication, 2023-2030 (Value US$ MN)
4.4.1.2.1.Depression
4.4.1.2.2.PTSD
4.4.1.2.3.Drug & Alcohol dependence
4.4.1.2.4.Others
4.4.1.3. North America Market Share Analysis, By Route of Administration, 2023-2030 (Value US$ MN)
4.4.1.3.1.Oral
4.4.1.3.2.Intranasal
4.4.1.3.3.Intravenous
4.4.1.4. North America Market Share Analysis, By Distribution Channel, 2023-2030 (Value US$ MN)
4.4.1.4.1.Online Pharmacies
4.4.1.4.2.Hospital Pharmacies
4.4.1.4.3.Retail pharmacies
4.4.1.5. North America Market Share Analysis, By Country, 2023-2030 (Value US$ MN)
4.4.1.5.1.US
4.4.1.5.2.Canada
4.4.1.5.3.Mexico
4.5. Europe Psychedelic Drugs Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.5.1.1. Europe Market Share Analysis, By Product, 2023-2030 (Value US$ MN)
4.5.1.2.Europe Market Share Analysis, By Disease Indication, 2023-2030 (Value US$ MN)
4.5.1.3.Europe Market Share Analysis, By Route of Administration, 2023-2030 (Value US$ MN)
4.5.1.4.Europe Market Share Analysis, By Distribution Channel, 2023-2030 (Value US$ MN)
4.5.1.5.Europe Market Share Analysis, By Country, 2023-2030 (Value US$ MN)
4.5.1.5.1.UK
4.5.1.5.2.France
4.5.1.5.3.Germany
4.5.1.5.4.Italy
4.5.1.5.5.Spain
4.5.1.5.6.Sweden
4.5.1.5.7.Austria
4.5.1.5.8.Rest Of Europe
4.6. Asia Pacific Psychedelic Drugs Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.6.1.1. Asia Pacific Market Share Analysis, By Product, 2023-2030 (Value US$ MN)
4.6.1.2.Asia Pacific Market Share Analysis, By Disease Indication, 2023-2030 (Value US$ MN)
4.6.1.3.Asia Pacific Market Share Analysis, By Route of Administration, 2023-2030 (Value US$ MN)
4.6.1.4.Asia Pacific Market Share Analysis, By Distribution Channel, 2023-2030 (Value US$ MN)
4.6.1.5.Asia Pacific Market Share Analysis, By Country, 2023-2030 (Value US$ MN)
4.6.1.5.1.China
4.6.1.5.2.India
4.6.1.5.3.Japan
4.6.1.5.4.South Korea
4.6.1.5.5.Australia
4.6.1.5.6.ASEAN
4.6.1.5.7.Rest Of APAC
4.7. South America Psychedelic Drugs Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.7.1.1. South America Market Share Analysis, By Product, 2023-2030 (Value US$ MN)
4.7.1.2.South America Market Share Analysis, By Disease Indication, 2023-2030 (Value US$ MN)
4.7.1.3.South America Market Share Analysis, By Route of Administration, 2023-2030 (Value US$ MN)
4.7.1.4.South America Market Share Analysis, By Distribution Channel, 2023-2030 (Value US$ MN)
4.7.1.5.South America Market Share Analysis, By Country, 2023-2030 (Value US$ MN)
4.7.1.5.1.Brazil
4.7.1.5.2.Argentina
4.7.1.5.3.Rest Of South America
4.8. Middle East and Africa Psychedelic Drugs Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.8.1.1. Middle East and Africa Market Share Analysis, By Product, 2023-2030 (Value US$ MN)
4.8.1.2.Middle East and Africa Market Share Analysis, By Disease Indication, 2023-2030 (Value US$ MN)
4.8.1.3.Middle East and Africa Market Share Analysis, By Route of Administration, 2023-2030 (Value US$ MN)
4.8.1.4.Middle East and Africa Market Share Analysis, By Distribution Channel, 2023-2030 (Value US$ MN)
4.8.1.5.Middle East and Africa Market Share Analysis, By Country, 2023-2030 (Value US$ MN)
4.8.1.5.1.South Africa
4.8.1.5.2.GCC
4.8.1.5.3.Egypt
4.8.1.5.4.Nigeria
4.8.1.5.5.Rest Of ME&A
Chapter 5 Stellar Competition Matrix
5.1.1.Global Stellar Competition Matrix
5.1.2.North America Stellar Competition Matrix
5.1.3.Europe Stellar Competition Matrix
5.1.4.Asia Pacific Stellar Competition Matrix
5.1.5.South America Stellar Competition Matrix
5.1.6.Middle East and Africa Stellar Competition Matrix
5.2. Key Players Benchmarking
5.2.1.Key Players Benchmarking By Application, Pricing, Market Share, Investments, Expansion Plans, Physical Presence and Presence in the Market.
5.3. Mergers and Acquisitions in Industry
5.3.1.M&A by Region, Value and Strategic Intent
Chapter 6 Company Profiles
6.1. Key Players
6.1.1.AstraZeneca .
6.1.1.1.Company Overview
6.1.1.2.Source Portfolio
6.1.1.3.Financial Overview
6.1.1.4.Business Strategy
6.1.1.5.Key Developments
6.1.2.The Emmes Company
6.1.3.AstraZeneca
6.1.4.F. Hoffmann-La Roche Ltd
6.1.5.Dr. Reddy’s Laboratories Ltd
6.1.6.Takeda Pharmaceutical Company Limited
6.1.7.Pfizer Inc.
6.1.8.Mylan N.V.
6.1.9.Merck & Co., Inc.
6.1.10.Alkermes
6.1.11.ALLERGAN
6.1.12.H. Lundbeck A/S
6.1.13.Mota Ventures Corp.
6.1.14.Janssen Pharmaceuticals
6.1.15.Hikma Pharmaceuticals PLC
6.1.16.Avadel
6.1.17.Celon Pharma S.A
6.2. Key Findings
6.3.Recommendations
