This Psychedelic Drugs report examines the most important changes in consumer behaviors and its business impact by the market participants on the development strategies. The Psychedelic Drugs report has been analyzed with the blend of qualitatively and quantitatively analysis to provide comprehensive information that provides stakeholders with statistical data needed to make informed decisions and implement effective growth strategies. The study provides detailed information on the established market with a strong perspective of global players and emerging market associations through market research report.
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.
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.
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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Market Drivers
- 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
Segmentation: Global Psychedelic Drugs Market
By Application
- Major Depressive Disorder
- Resistant depression
- Panic disorder
- Post-traumatic stress disorder
- Opiate Addiction
- Others
By Drugs
- Lysergic Acid Diethylamide (LSD)
- 3,4-MethylEnedioxyMethamphetamine (Ecstasy)
- Phencyclidine
- Gamma Hydroxybutyric Acid (GHB)
- Ketamine
- Ayahuasca
- Salvia
- Psilocybin
- Others
By Route of Administration
- Oral
- Injectable
- Inhalation
By Distribution Channel
- Direct Retailers
- Online Pharmacies
- Others
By End-Users
- Hospitals
- Homecare
- Specialty Clinics
- Others
By Geography
- North America
- South America
- Europe
- Asia-Pacific
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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
Competitive Analysis:
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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Psychedelic Drugs market research report has been formed with the systematic gathering and estimation of market information for Pharmaceutical industry. All this information is supplied in such a form that properly gives explanation of various facts and figures to the business. The market data described in the report helps to make out diverse market opportunities present worldwide for Pharmaceutical industry. This report endows with accurate information about market trends, industrial changes, and consumer behavior etc. Taking up such market research report is always gainful for any company, whether it is a small scale or large scale, for marketing of products or services. Analytical study of this Psychedelic Drugs market report supports in mapping growth strategies to increase sales and build brand image in the market.
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