Global Psychedelic Drugs Market Report 2022

New York, July 29. 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Psychedelic Drugs Global Market Report 2022” – https://www.reportlinker.com/p06310821/?utm_source=GNW
A., Numinus Wellness Inc, AbbVie, Mylan NV, 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 .

The global psychedelic drug 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 psychedelic drug market is expected to reach $7.03 billion in 2026 with a CAGR of 14.2%.

The psychedelic drug market consists of the sale of psychedelic drugs by entities (organizations, independent traders, and partnerships) that are used to treat depression and post-traumatic stress disorder and also to aid in mental health diagnoses. Psychedelic drugs refer to hallucinogens.

These drugs are a group of substances that generally alter and improve perception, thought processes, energy levels and promote mental experiences. These include chemicals such as lysergic acid diethylamide (LSD) and plants such as peyote.

These drugs are used to treat various brain conditions.

The main types of psychedelic drugs are lysergic acid diethylamide, ketamine, phencyclidine, gamma-hydroxybutyric acid (GHB), and salvia. Lysergic acid diethylamide (LSD) is also known as acid.

LSD is made in crystalline form and then mixed with other inert ingredients or diluted in liquid form to produce an ingestible form. The various indications of the disease include depression and PTSD, which can be natural or man-made.

The many applications include treatment-resistant depression, opioid addiction, post-traumatic stress disorder, narcolepsy and panic disorders, and are distributed through various channels such as hospital pharmacies, retail pharmacies and online pharmacies. line.

North America was the largest region for the psychedelic drugs market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period.

Regions covered in the Psychedelic Drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and South America. ‘Africa.

The Psychedelic Drugs Market research report is one of a series of new reports that provide statistics on the Psychedelic Drugs market, including the global Psychedelic Drugs industry market size, regional shares, competitors holding Psychedelic Drugs market share, detailed Psychedelic Drugs market segments, market trends and opportunities. , and any other data you may need to thrive in the psychedelic drug industry. This Psychedelic Drugs Market research report offers a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Rising cases of mental illnesses are expected to propel the growth of the psychedelic drug market in the future. Mental illnesses refer to health problems involving changes in emotions, thinking, or behavior.

Mental illnesses include conditions such as distress and post-traumatic stress disorder. Psychedelic drugs are used to treat depression and post-traumatic stress disorder, and their regular use decreases mental illness.

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

The introduction of anti-depression spray is the key trend gaining popularity in the psychedelic drug market. Major companies operating in the psychedelic drug market are introducing nasal spray medications for major depressive disorders to maintain their position in the market.

For example, in March 2019, Johnson & Johnson, an American company that manufactures psychedelic drugs and pharmaceutical drugs, launched a new depression spray named Spravato. The drug acts quickly on the brain, so it begins to work faster than other antidepressants.

It works by restoring brain cells in patients with treatment-resistant depression.

In April 2022, Numinus, a Canadian company that manufactures psychedelic drugs with holistic and integrated psychotherapy, acquired Novamind for $20.77 million. With this acquisition, Numinus should expand its psychotherapy clinics in the United States and develop advanced psychedelic programs. Novamind is a US-based mental health company and manufacturer of psychedelic drugs.

Countries covered in the Psychedelic Drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06310821/?utm_source=GNW

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