This Psychedelic Drugs market analysis offers an examination of a range of segments that are relied upon to witness the quickest development amid the estimate forecast frame. A complete discussion about numerous market related topics in this Psychedelic Drugs market research report is sure to aid the client in studying the market on competitive landscape. The company profiles of all the key players and brands that are dominating the Psychedelic Drugs market with moves like product launches, joint ventures, mergers and acquisitions which in turn is affecting the sales, import, export, revenue and CAGR values are mentioned in the report. This report also gives an idea about consumer’s demands, preferences, and their altering likings about particular product.
Global Psychedelic drugs market is rising gradually with a healthy CAGR in the forecast period of 2019-2026. Growing prevalence of depression worldwide and increase in special designation from the regulatory authorities to the company to expedite the development process are the key factors for market growth.
Psychedelic drugs are also known as psychedelics are the class of hallucinogenic drugs including both classic hallucinogens as well as dissociative drugs that are used recreationally, to alter and enhance the sensory perception, elevate the mood swings, thought process, energy level promoting spiritual experiences. Psychedelic drugs have been used experimentally for psychological treatment and are able to control mind hence maintaining peace.
Key Market Players: COMPASS, The Emmes Company, LLC, Klarisana, AstraZeneca, F. Hoffmann-La Roche Ltd, Dr. Reddy’s Laboratories Ltd, Takeda Pharmaceutical Company Limited, Pfizer Inc, Mylan N.V. , Merck & Co., Inc, Alkermes, ALLERGAN, H. Lundbeck A/S among others.
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- Increase in the prevalence of depression worldwide can act as a driver for the growth of this market
- Treatment for psychedelic drugs dependency can also boost the market growth
- Changing life style and requirement for enhanced and better life quality is propelling the market growth
- Increase special designation from the regulatory authority can drive the market growth
According to the statistic published in our World in Data 2017, the global burden of mental and substance use disorders were 122.76 million. Increase cases of mental disorders and accelerating demand of novel therapies are the drivers promoting the growth of this market.
Segmentation: Global Psychedelic Drugs Market
- Major Depressive Disorder
- Resistant depression
- Panic disorder
- Post-traumatic stress disorder
- Opiate Addiction
- Lysergic Acid Diethylamide (LSD)
- 3,4-MethylEnedioxyMethamphetamine (Ecstasy)
- Gamma Hydroxybutyric Acid (GHB)
By Route of Administration
By Distribution Channel
- Direct Retailers
- Online Pharmacies
- Specialty Clinics
- North America
- South America
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Key Developments in the Market:
- In October 2018, COMPASS received Breakthrough Therapy designation from the FDA for psilocybin therapy for the treatment of resistant depression. With Breakthrough Therapy designation, company can obtain all fast track designation features and FDA commitment and guidance ensuring efficient drug development programme
- In August 2018, COMPASS received new drug application approval from the FDA for the psilocybin therapy for the treatment of resistant depression. If the trial is successful, it will change the treatment landscape of patients suffering from resistant depression
Global psychedelic drugs market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global psychedelic drugs market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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