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The psychedelic drugs market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 14%, as per The Business Research Company’s market report!

Read More On The Psychedelic Drugs Market Report 2022 – https://www.thebusinessresearchcompany.com/report/psychedelic-drugs-global-market-report

The Psychedelic Drugs Market Size In 2022 And Forecast

The global psychedelic drugs market is expected to grow from $3.62 billion in 2021 to $4.19 billion in 2022 at a compound annual growth rate (CAGR) of 15.6%. The global psychedelics market size is expected to reach $7.03 billion in 2026 at a CAGR of 14.2%.

The psychedelic drug market consists of sales of psychedelic drugs by entities (organizations, sole traders, and partnerships) that are used to treat depression and post-traumatic stress disorder and also help with mental health diagnoses. Psychedelic drugs refer to hallucinogens.

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The Increase In The Cases Of Mental Illnesses Is Driving The Growth Of The Psychedelic Drugs Market

For instance, in 2020, according to the National Alliance on Mental Illness (NAMI), a US-based mental health organization, 21% of adults in America were suffering from mental illness in 2020, which amounted to 52.9 million people. Therefore, an increase in the number of cases of mental illnesses is driving the growth of the psychedelic drug market.

Competitive Landscape And The Regional Analysis Of The Psychedelic Drugs Market

Major players in the psychedelic drugs market are Johnson & Johnson, Pfizer, Hikma Pharmaceuticals PLC, Roche Holding AG, Merck & Co Inc, Jazz Pharmaceuticals plc, COMPASS Pathways PLC, Celon Pharma S.A., Numinus Wellness Inc, AbbVie, Mylan N.V., Avadel, NeuroRx Inc., Klarisana, AstraZeneca, Dr. Reddy’s Laboratories Ltd, Takeda Pharmaceutical Company Limited, Allergan Inc, Mota Ventures Corp., Seelos Therapeutics, Emmes Company, and Novatris International AG.

Additionally, as per TBRC’s research – North America was the largest region in the psychedelic drugs market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The Psychedelic Drugs Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the psychedelic drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the psychedelic drugs market.

Introduction Of Depression Spray – A Key Trend In The Psychedelic Drugs Market

Major companies operating in the psychedelic drug market are introducing nasal-spray drugs for major depressive disorders to sustain their position in the market.

Psychedelic Drugs Market Segmentation By The Business Research Company

1) By Type: Lysergic Acid Diethylamid (LSD), Ketamine, Phencyclidine, Gamma Hydroxybutyric Acid (GHB), Salvia

2) By Disease Indication: Depression, PTSD

3) By Origin: Natural, Synthetic

4) By Application: Treatment-Resistant Depression, Opiate Addiction, Post-Traumatic Stress Disorder, Narcolepsy, Panic Disorders

5) By Distribution Channel: Hospitals Pharmacy, Retail Pharmacy, Online Pharmacy

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