Global Psychedelic Drugs Market By Application (Major Depressive Disorder, Resistant Depression, Panic Disorder, Post-traumatic Stress Disorder, Opiate Addiction and Others), Drugs (Lysergic Acid Diethylamide, 3,4-Methylenedioxymethamphetamine, Phencyclidine, Gamma Hydroxybutyric Acid, Ketamine, Ayahuasca, Salvia, Psilocybin and Others), Route of Administration (Oral, Injectable and Inhalation), Distribution Channel (Direct Retailers, Online Pharmacies and Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others)
Market Analysis: Global Psychedelic Drugs Market
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.
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Market Definition: Global Psychedelic Drugs Market
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.
- 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
- Hefty and stringent regulation imposed by the government to commercialize psychedelic drugs are hindering the market growth
- High preference of non-therapeutics therapies over pharmacological therapies can also hinder the market growth
- Poor efficacy and safety profile of existing intervention also restricts the growth of the market
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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
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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