Global psychedelic drugs market is rising gradually with a healthy CAGR in the forecast period of 2019-2026. Growing prevalence of depression worldwide and increase in special designation from the regulatory authorities to the company to expedite the development process are the key factors for market growth.
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The market dynamics study of this Psychedelic Drugs Market business research report demonstrates the scope of the various commercial possibilities over the coming years and the positive revenue forecasts in the years ahead. It also studies the key markets and mentions different regions i.e. the geographical spread of the business. Under competitive market share evaluation, this document suggests that the key players dominate the operations in the industry attributable to their strong geographical reach & huge production facilities. The major players operating in the Psychedelic Drugs Market are in strong competition in terms of technology, innovation, and pricing.
Few of the major competitors currently working in the global psychedelic drugs market are COMPASS, The Emmes Company, LLC, Klarisana, AstraZeneca, F. Hoffmann-La Roche Ltd, Dr. Reddy’s Laboratories Ltd, Takeda Pharmaceutical Company Limited, Pfizer Inc, Mylan N.V. , Merck & Co., Inc, Alkermes, ALLERGAN, H. Lundbeck A/S among others.
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Market Definition: Global Psychedelic Drugs Market
Psychedelic drugs are also known as psychedelics are the class of hallucinogenic drugs including both classic hallucinogens as well as dissociative drugs that are used recreationally, to alter and enhance the sensory perception, elevate the mood swings, thought process, energy level promoting spiritual experiences. Psychedelic drugs have been used experimentally for psychological treatment and are able to control mind hence maintaining peace.
According to the statistic published in our World in Data 2017, the global burden of mental and substance use disorders were 122.76 million. Increase cases of mental disorders and accelerating demand of novel therapies are the drivers promoting the growth of this market.
Segmentation: Global Psychedelic Drugs Market
Psychedelic Drugs Market : By Application
- Major Depressive Disorder
- Resistant depression
- Panic disorder
- Post-traumatic stress disorder
- Opiate Addiction
Psychedelic Drugs Market : By Drugs
- Lysergic Acid Diethylamide (LSD)
- 3,4-MethylEnedioxyMethamphetamine (Ecstasy)
- Gamma Hydroxybutyric Acid (GHB)
Psychedelic Drugs Market : By Route of Administration
Psychedelic Drugs Market : By Distribution Channel
- Direct Retailers
- Online Pharmacies
Psychedelic Drugs Market : By End-Users
- Specialty Clinics
Psychedelic Drugs Market : By Geography
- North America
- South America
- Middle East & Africa
Key Developments in the Psychedelic Drugs Market:
- In October 2018, COMPASS received Breakthrough Therapy designation from the FDA for psilocybin therapy for the treatment of resistant depression. With Breakthrough Therapy designation, company can obtain all fast track designation features and FDA commitment and guidance ensuring efficient drug development programme
- In August 2018, COMPASS received new drug application approval from the FDA for the psilocybin therapy for the treatment of resistant depression. If the trial is successful, it will change the treatment landscape of patients suffering from resistant depression
Primary Respondents : Psychedelic Drugs Market
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Key benefits of buying the Psychedelic Drugs Market Report:
This Psychedelic Drugs Market report will enable both of the sides in market be an established firm or a relative new entrant. It helps the established firms to know about the moves which are being performed by their competitors and also helps the new entrants by educating them about the market situations and the industry trends. This Psychedelic Drugs Market report is quite fruitful in helping to understand the market definition and all the aspects of the market including the CAGR value and key profiles.
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