Psychedelic Drugs Market Key Players | Psyched Wellness, Ceruvia Lifesciences, Enveric Biosciences

Key Highlights:
• The global Psychedelic Drugs Market size was valued at USD 0.7 billion in 2022 growing at a CAGR of 13.9% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Psychedelic Drugs Market size accounted for USD 0.7 billion in 2022, growing at a CAGR of 13.9% from 2023 to 2033. The psychedelic drugs market involves pharmaceuticals or substances with hallucinogenic properties that affect perception, mood, and cognition. These substances, including psilocybin, LSD, and MDMA, are being researched for potential therapeutic applications in mental health treatments. The market is characterized by a resurgence of interest in psychedelics for their potential in addressing conditions like depression, anxiety, and PTSD. Growing recognition of the therapeutic benefits, changing regulatory attitudes, and increased investment in research contribute to the evolving landscape of the psychedelic drugs market.

Request/Download PDF Sample: https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=021727

The psychedelic drugs market is primarily driven by a resurgence of interest in their therapeutic potential for mental health conditions such as depression and PTSD. Changing regulatory attitudes, increased research investment, and a growing acknowledgment of the benefits of psychedelics contribute to the market's expansion.

Key Players
Some of the major Psychedelic Drugs Market players holding high market shares include Psyched Wellness, Ceruvia Lifesciences, Enveric Biosciences and Field Trip Health. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include PharmaTher, Numinus Wellness Inc, Johnson & Johnson (J&J), Apex Labs, Braxia Scientific, Havn Life.

Report Description: https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=021727

Segmental Analysis
Based on Drug Type, the Psychedelic Drugs market is segmented into ketamine, psilocybin, and other. The global market share of psychedelic drugs was led by the ketamine segment in 2022, and this trend is expected to persist throughout the forecast period. This is related to the use of ketamine as a depression treatment.
Based on application, the Psychedelic Drugs market is segmented into mental health, abuse disorders, and other. The global market share of psychedelic drugs was led by the mental health segment in 2022, and this trend is expected to persist throughout the forecast period due to an increase in the prevalence of mental illnesses like anxiety, depression, and post-traumatic disorder.
Based on end user, the Psychedelic Drugs market is segmented into hospitals, mental health center, and other. Due to the widespread use of psychedelic drugs in mental health facilities to treat mental illness, the mental health segment led the market in 2022 and is predicted to continue leading it during the Psychedelic Drugs Market Forecast period.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

Address
Evolve Business Intelligence
C-218, 2nd floor, M-Cube
Gujarat 396191
India
Email: sales@evolvebi.com
Website: https://evolvebi.com/

About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool - EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune's global 2000 companies.

This release was published on openPR.