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Posted on September 14, 2023
The global psychedelic drug market is expected to rise by 2023, with the majority of this growth occurring within the United States. According to Data Bridge Market Research, the market is expected to grow at a CAGR of 13.3% from 2023 to 2030, reaching US$6,401.95 million by 2030, up from US$2,386.72 million in 2023.
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The research report provides a comprehensive examination of the narcotic drugs market, including its segmentation by drug, method of administration, distribution channel, end users, application and geography. It provides in-depth analysis of the global market, with particular focus on rapidly expanding market segments and high-growth applications within each industry sector. In addition, the report includes a comprehensive market share assessment, featuring individual revenues, market shares and rankings of top players. Furthermore, a detailed competitive landscape is presented, highlighting the key players with respect to each market category. The report also delves into analyzing the market dynamics in the short, medium and long term, taking into account the factors that are currently driving or hindering the market expansion.
The main players
Emmes, Clarisana, AstraZeneca, F. Hoffmann-La Roche Ltd, and Dr. Reddy’s Laboratories Ltd, Takeda Pharmaceutical Company Limited, Pfizer Inc, Mylan NV, Merck & Co., Inc, Alkermes, and ALLERGAN.
“Narcotic medications to treat depression”
Major development in the narcotic drug market
- FDA approvals: Many psychedelic-based therapies have received or are about to receive US Food and Drug Administration (FDA) approval to treat conditions such as depression, post-traumatic stress disorder (PTSD), and substance use disorders. These approvals represent a major advance in legitimizing the therapeutic potential of drugs.
- Investment boom: There has been a significant increase in investments in psychedelic drug research and development. Both venture capital firms and pharmaceutical companies are pouring resources into clinical trials and drug discovery, indicating growing belief in the commercial viability of these treatments.
- Extended clinical trials: The number and scope of clinical trials involving psychedelic compounds has expanded dramatically. Researchers are exploring the effectiveness of these substances in treating a wide range of mental health conditions, which may reshape the landscape of psychotherapy.
- Legalization efforts: Different regions and countries are reconsidering their position on the legality of narcotic substances. Initiatives to decriminalize or legalize the use of the drug for therapeutic or recreational use have gained momentum in certain places, creating a more favorable regulatory environment for the industry.
- Anesthetic-assisted treatment centers: The emergence of specialized clinics and treatment centers offering psychedelic-assisted treatment is a notable development. These centers provide a structured, supervised environment for patients undergoing narcotic treatments, enhancing accessibility and safety.
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The main classifications are as follows:
- Lysergic acid diethylamide (LSD)
- 3,4-methylenedioxymethamphetamine (ecstasy)
- Gamma hydroxybutyric acid (GHB)
By distribution channel
- Direct retailers
- Online pharmacies
By end users
- Home care
- Specialized clinics
- Severe depressive disorder
- Resistant depression
- Panic disorder
- Post-traumatic stress disorder
- Opium addiction
- United kingdom
- Rest of Europe
- South Korea
- Rest of Asia and the Pacific
- Rest of South America
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Investing in this study will give you access to valuable information, including:
• Comprehensive coverage of the narcotic drugs market, both globally and segmented by regions.
• Market analyzes at the regional level, including North America, Europe, Asia Pacific, South America, Middle East and Africa.
• Dividing the market size of each country into the most important countries that have large market shares.
• Market share and revenue/sales data of leading industry players.
• Analyze market trends such as emerging technologies, products, and startups, as well as PESTEL analysis, SWOT analysis, Porter’s Five Forces, and more.
• Detailed data on market size, including distributions by application/industry segments.
• Expectations and forecasts for the market’s growth and development in the future.
Frequently Asked Questions About the Psychedelics Market (FAQ):
- How big is the potential market for the drug?
- What is the benefit of anesthetic?
- What is the current status of psychedelics in the pharmaceutical industry?
- What mental health conditions are psychedelics being studied for?
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