Psychedelic Therapeutics Market Top Players - Celon Pharma S.A., MAPS Public Benefit, MindMed, Janssen Pharmaceuticals, iX Biopharma Ltd.

Psychedelic Therapeutics Market Size is valued at USD 2.2 Billion in 2024 and is predicted to reach USD 9.6 Billion by the year 2034 at a 15.6 % CAGR during the forecast period for 2025-2034.

Global Psychedelic Therapeutics Market 2025-2034 full Research Repot latest version is now available.

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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Psychedelic Therapeutics market are:
• Growing research supporting the therapeutic potential of psychedelics for mental health disorders.
• Increasing acceptance and decriminalization of psychedelic substances in several regions.
• Rising demand for alternative treatments due to the limitations of conventional mental health therapies

The following are the primary obstacles to the Psychedelic Therapeutics market's expansion:
• Stringent regulatory frameworks and slow approval processes hinder market growth.
• Public stigma and skepticism towards the safety and efficacy of psychedelic treatments limit acceptance.
• High costs of research, development, and clinical trials present financial challenges for market players.

Future expansion opportunities for the global Psychedelic Therapeutics market include:
• Growing interest in psychedelic-assisted therapies for mental health conditions like depression and PTSD.
• Increasing legalization and regulatory acceptance of psychedelic substances for medical use.
• Collaboration opportunities with research institutions and pharmaceutical companies to develop novel treatments.

Key Industry Insights & Findings from the report:
• Significant growth in clinical trials investigating psychedelics for mental health conditions like depression and PTSD.
• Regulatory advancements and shifting public perceptions are accelerating the adoption of psychedelic therapeutics.
• North America dominated the market and accounted for a revenue share of global revenue in 2023.
• One of the significant concerns restraining industry growth is the regulatory challenges and legal restrictions surrounding the use of psychedelics.

Market Analysis:
The Psychedelic Therapeutics market is undergoing significant expansion, primarily fueled by ongoing research into the efficacy of psychedelic compounds for the treatment of mental health disorders such as depression, post-traumatic stress disorder (PTSD), and anxiety. Evolving regulatory frameworks and increasing societal acceptance of these substances are facilitating clinical trials and their potential integration into therapeutic practices. Additionally, the market is witnessing rising investor interest and a growing number of strategic collaborations between biotechnology firms and academic research institutions, further supporting the sector's development.

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List of Prominent Players in the Psychedelic Therapeutics Market:
• Psyched Wellness
• Field Trip Health
• PharmaTher
• Ceruvia Lifesciences
• Johnson & Johnson (J&J)
• Havn Life
• Numinus Wellness Inc
• Apex Labs
• Braxia Scientific
• Enveric Biosciences

Recent Developments:
• In October 2022, Numinus Wellness Inc, a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, launched its Ketamine for Chronic and Serious Medical Illness Program. This new program is likely to be introduced first in Numinus' clinics in Utah, British Columbia, and Quebec. The Company intends to expand the program to other clinics in later months.
• In February 2024, Lykos Therapeutics announced NDA application and priority review for its MDMA therapeutic for treatment of post-traumatic stress disorder.
• In December 2023, Compass Pathways announced the initial data readout for phase 2 trial of its investigational psilocybin drug COMP360 in patients with post-traumatic stress disorder.

Psychedelic Therapeutics Market Dynamics:
Market Drivers: Growing Acceptance and Decriminalization of Psychedelic Substances Across Multiple Jurisdictions
The expanding acceptance and progressive decriminalization of psychedelic substances across various regions are key drivers of growth in the Psychedelic Therapeutics market. Evolving regulatory landscapes-particularly the reconsideration and approval of compounds such as psilocybin and MDMA-are reducing legal constraints and creating a conducive environment for scientific research and pharmaceutical development. As regulatory agencies in more countries and states permit clinical evaluation of these substances, pharmaceutical companies are increasingly investing in the development of psychedelic-based therapeutics. These developments are broadening the scope of treatment options for mental health conditions including depression, post-traumatic stress disorder (PTSD), and anxiety. Enhanced public awareness and growing institutional support further contribute to market expansion and facilitate wider adoption of these novel therapies.

Market Challenges: Persistent Public Stigma and Concerns Regarding the Safety and Efficacy of Psychedelic Therapies
Despite scientific progress, the Psychedelic Therapeutics market continues to face significant challenges stemming from persistent public stigma and skepticism regarding the safety and effectiveness of psychedelic-based treatments. Many patients and healthcare professionals remain hesitant to embrace these therapies due to their historical associations with recreational drug use and perceived potential for misuse. These negative perceptions can impede patient engagement, deter investment in research and development, and complicate the regulatory approval process. Addressing these concerns through public education, dissemination of positive clinical outcomes, and transparent communication regarding safety protocols will be essential in enhancing acceptance and facilitating broader integration of psychedelic therapies into mainstream healthcare.

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North America Is Expected to Grow with the Highest CAGR During the Forecast Period
North America is projected to exhibit the highest compound annual growth rate (CAGR) in the Psychedelic Therapeutics market over the forecast period, driven by substantial research investments and the growing incidence of mental health conditions such as depression, post-traumatic stress disorder (PTSD), and anxiety. Regulatory developments, including the progressive decriminalization and medical legalization of psychedelic substances in select jurisdictions, are further accelerating market expansion. The United States and Canada are at the forefront of this growth, supported by advancements in clinical research, the proliferation of biotechnology startups, and increasingly supportive regulatory frameworks for psychedelic studies. Additionally, rising consumer awareness and the growing demand for innovative, alternative mental health therapies are expected to further propel market development across the region.

Segmentation of Psychedelic Therapeutics Market-
By Origin of Substance-
• Natural
• Synthetic
By Type of Psychedelic Substance-
• Gamma-hydroxybutyrate
• Ketamine
• MDMA
• Psilocybin
By Target Disease Indications-
• Depression and Anxiety Disorders
• Pain Disorders
• Sleep Related Disorders
• Trauma
By Route of Administration-
• Oral
• Intravenous
• Intranasal
• Sublingual
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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