Psychedelic medications, among other things, alter sensory perceptions, energy levels, cognitive processes, and spiritual experiences. Dissociative pharmaceuticals (such as phencyclidine), empathogens, and serotonergic medications (such as lysergic acid diethylamide) are the three types of psychedelic drugs. These medications are used to treat illnesses such as major depression, treatment-resistant depression, panic disorder, post-traumatic stress disorder, and opiate addiction, among others. The Psychedelic Drugs Market is segmented by product, disease indication, method of administration, distribution channel, and geography.
Psychedelic Drugs Market Scope and Research Methodology:
The objective of the report is to analyses and forecast the Psychedelic Drugs market size. The market report includes strategic profiling of significant market participants in order to accurately depict the competitive environment for the global Psychedelic Drugs market. it includes a detailed analysis of new product launches, acquisitions, mergers, and joint ventures, brands and key players in the Psychedelic Drugs industry. The report provides information on industry trends and developments, market dynamics and their potential, which helps experts to stay up to date on the most recent trends and sector performance, predicting growth and decline in Psychedelic Drugs market share during the forecast period. To know the Psychedelic Drugs industry in detail, primary and secondary research methods were used and for accurate finding various methodologies such as the PESTLE, PORTER, and SWOT analysis were used. SWOT analysis was employed to provide strengths, weaknesses, opportunities and challenges for Psychedelic Drugs key players in the industry. PORTER and PESTLE analysis helps to understand the microeconomic and macroeconomic factors affecting the Psychedelic Drugs industry.
Psychedelic Drugs Market Report Overview:
The report thoroughly covers analysis of insights in view of the Psychedelic Drugs Market along with its ever-changing patterns, industry environment, and all dominant aspects of the market. A detailed analysis of key players is also provided in the Psychedelic Drugs market report.
Psychedelic Drugs Market size was valued at US$ 3.8 Billion in 2020 and the Psychedelic Drugs revenue is expected to grow at 13.3% through 2021 to 2027, reaching nearly US$ 9.11 Billion.
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Psychedelic Drugs Market Segmentation:
Oral drugs accounted for around 55% of the psychedelic drugs market throughout the predicted period. With the introduction of drugs such as Spravato, an intranasal general anaesthetic approved by the FDA in August 2020 for the short-term treatment of suicidal thoughts, the intranasal category is predicted to expand at a substantially quicker rate of 17% from 2021 to 2027. The US state of Oregon is attempting to decriminalise magic mushrooms, and a local company called Silo Wellness has developed a psilocybin nasal spray to treat melancholy and PTSD.
Hospital pharmacies are the most common distribution channel, accounting for almost 56% of the market. Growing public awareness of psychedelic compounds, as well as their restricted distribution for certain purposes, is driving the emergence of hospital pharmacy as a distribution route for these medications, all while ensuring patient safety.
Psychedelic Drugs Market Key Players:
The Emmes Company (United States)
AstraZeneca (United Kingdom)
F. Hoffmann-La Roche Ltd (Switzerland)
Dr. Reddy’s Laboratories Ltd (Hyderabad)
Takeda Pharmaceutical Company Limited (Japan)
Pfizer Inc. (United States)
Mylan N.V. (United States)
Merck & Co., Inc. (United States)
Alkermes (Ireland)
ALLERGAN (Ireland)
H. Lundbeck A/S (Denmark)
Mota Ventures Corp. (Canada)
Janssen Pharmaceuticals (Belgium)
Hikma Pharmaceuticals PLC (United Kingdom)
Avadel (Ireland)
Celon Pharma S.A (Poland)
Psychedelic Drugs Market Regional Analysis:
The report is segmented into several key countries, with market size, growth rate, import and export of Psychedelic Drugs market in these countries, which covering North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and Middle East and Africa.
Key Questions answered in the Psychedelic Drugs Market Report are:
- Which segment grabbed the largest share in the Psychedelic Drugs market?
- Which segment is expected to grow at a high rate during the forecast period?
- How is the competitive scenario of the Psychedelic Drugs market?
- Which are the key factors driving the Psychedelic Drugs market growth?
- Which region holds the maximum share in the Psychedelic Drugs market?
- What will be the CAGR of the Psychedelic Drugs market during the forecast period?
- Which are the prominent players in the Psychedelic Drugs market?
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Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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