A blend of market intelligence and industry expertise employed in this Psychedelic Drugs Market report surely helps achieve the business goals. This market document merges all-inclusive industry analysis with precise evaluations and forecasts which all together gives absolute research solutions and brings maximum industry clarity for strategic decision making. It also guesstimates the eventual market for a new product to be launched in the market. The report supports in adjusting the production depending on the conditions of demand in the market which evades the wastage of goods. Psychedelic Drugs Market report plays very significant role to achieve business growth and success in this competitive market place for industry.
When globalization is at the sky-scraping level, businesses opt to take advantage of the global market for marketing and selling their product. This Psychedelic Drugs Market document estimates compound annual growth rate (CAGR) value fluctuation for the forecast period of 2020-2025 that helps businesses make out the investment value. DBMR team is determined on understanding client’s business and their needs so that the finest market research report is delivered for a potential growth and success. The market drivers and restraints have been explained in the report using SWOT analysis. Businesses can confidently refer this top-quality research report to accomplish an absolute success.
Psychedelic drugs market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 16.3% in the forecast period of 2020 to 2027 and expected to reach USD 6,859.95 million by 2027 from USD 2,077.90 million in 2019. Growing acceptance of psychedelic drugs for treating depression and increasing prevalence of depression and mental disorders are the factors for the market growth.
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The major players covered in the report are Johnson & Johnson Services, Inc., Jazz Pharmaceuticals, Inc., Celon Pharma SA, COMPASS, usonainstitute.org, Develco pharma schweiz ag , Doughlas pharmaceuticals limited, NeuroRX, Inc., Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals, LLC., AVADEL PHARMACEUTICALS, PLC among other players in the U.S. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Competitive Landscape and Psychedelic Drugs Market Share Analysis
U.S. psychedelic drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the U.S. psychedelic drugs market.
Many product launch and developments are also initiated by the companies worldwide which are also accelerating the U.S. psychedelic drugs market.
- In September 2019, Jazz Pharmaceuticals, Inc. has published optimistic data sets from JZP-258’s Phase 3 study for the treatment of excessive daytime sleepiness (EDS) and cataplexy in adults with narcolepsy. The Phase 3 clinical study data sets will help company to upsurge its market presence as the product is a unique formulation and has 92% less sodium as compared to Xyrem (sodium oxybate).
- In March 2019, Johnson & Johnson Services, Inc. has received the U.S. Food and drug Administration (FDA) authorization for SPRAVATOTM (esketamine) nasal spray CIII antidepressant for treatment-of resistant depression. The U.S. Food and Drug Administration (FDA) authorization will help company to lead the market as the product is first new mechanism of action for treatment of major depressive disorder in decades.
Clinical study data sets, authorization, collaboration, joint ventures and other strategies by the market players is enhancing the market in the U.S. Psychedelic drugs market also provides the benefit for organisation to improve their offering for psychedelic drugs.
U.S. Psychedelic Drugs Market, By Source (Synthetic, Natural), Type (Dissociatives, Empathogens, Serotonergic (Classical Psychedelic Drugs) ), Application (Narcolepsy, Treatment-Resistant Depression, Post-Traumatic Stress Disorder (PTSD), Major Depressive Disorder, Others), Route of Administration (Oral, Intranasal, Parenteral, Others), Drugs (Gamma Hydroxybutyric Acid (GHB), Ketamine, 3,4-Methylenedioxymethamphetamine (Ecstasy), Psilocybin), End User (Hospitals, Speciality Clinic, Research Organization, Others), Distribution Channel(Hospital Pharmacy, Compounding Pharmacy, Others) – Industry Trends and Forecast to 2027
The psychedelic drugs are used to enhance or change sensory perceptions, energy levels, thought processes, and to facilitate spiritual experiences. Psychedelic drugs can be categorized into dissociative drugs (such as PCP), empathogens and serotonergic (classic hallucinogens) (such as LSD). These drugs are used in the treatment of major depressive disorder, treatment-resistant depression, panic disorder, post-traumatic stress disorder, and opiate addiction among others. Chemical substances that are used in the psychedelic drugs are a group of LSD, and plants. Psychedelic are sourced from synthetic process (human-made) and plants or mushrooms. Psychedelic drugs has various street names such as LSD which are also known as acid, blotter, dots, sugar, trips and window pane; Ketamine are also known as vitamin K, bump, green, K/Special K, purple and super acid; PCP are also known as angel/angel dust, boat/love boat, peace, killer weed, super grass and ozone.
Psychedelic drugs market has increased with increased number of psychedelic drugs as compared to the past few years and increasing prevalence of depression and mental disorders in the U.S.
- In 2019, The National Alliance on Mental Illness has stated that 1 in 6 in the U.S. youth aged 6-17 experience a mental health disorder each year and 1 in 25 U.S. adults experience serious mental illness each year.
Growing acceptance of psychedelic drugs for treating depression is also increasing market value as the psychedelic drugs has repetitively proven its high rates of effectiveness for treatment for nicotine dependence, alcohol dependence, anxiety associated terminal illness and chronic PTSD as compared to other antidepressants. Currently, different research studies are taking place that are expected to provide a competitive advantage for new and innovative therapeutic manufacturers with competitive psychedelic drugs and methods to develop, define psychedelic drugs, and various other opportunities in the U.S. psychedelic market. However, high cost of psychedelic drug and stringent regulations for psychedelic drugs is expected to restraint the market growth as to get approvals is difficult and complex task along with the enforced monetary liability upon psychedelic drugs manufacturers and researchers.
This psychedelic drugs market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.
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U.S. Psychedelic Drugs Market Scope and Market Size
U.S. psychedelic drugs market is segmented on the basis of source, type, application, route of administration, drugs, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of source, the market is segmented into synthetic and natural. Synthetic dominates the psychedelic drugs market as all available drugs are derived from synthetic origin. For this reason, the synthetic segment dominates the market and will also grow at a higher rate over the forecasted period.
U.S. Psychedelic Drugs Market, By Source
- On the basis of type, the market is segmented into dissociatives, empathogens, and serotonergic (classical psychedelic drugs). The dissociatives segment dominates the psychedelic drugs market as XYREM (sodium oxybate, Jazz Pharmaceuticals Inc.) is the only approved drug of disruptive psychedelics for the treatment of narcolepsy.
- On the basis of application, the market is segmented into narcolepsy, treatment-resistant depression, post-traumatic stress disorder (PTSD), major depressive disorder, others. Narcolepsy as a gamma hydroxybutyric acid (GHB) derivative dominates the psychedelic drugs market and primarily uses psychedelic medicine and the drug has been approved for narcolepsy. Due to this reason, the narcolepsy segment dominates the psychedelic drugs market.
- On the basis of route of administration, the market is segmented into oral, intranasal, parenteral, others. Oral is dominant in the psychedelic drugs market as Xyrem is the most branded drug available in the market in oral dosage forms. In addition, patient adherence is very important in symptomatic treatment of the disease. Oral administration of the drug is highly convenient for patients as compared to other forms.
- On the basis of drugs, the market is segmented into gamma hydroxybutyric acid (GHB), ketamine, 3,4-methylenedioxymethamphetamine (ecstasy), psilocybin. Gamma hydroxybutyric acid (GHB) dominates the psychedelic drugs market as Xyrem is primarily psychedelic drug and falls into this category. For this reason, the gamma hydroxybutyric acid (GHB) segment dominates the psychedelic drugs market.
- On the basis of end user, the market is segmented into hospitals, speciality clinic, research organisation, others. Hospitals dominate the psychedelic drugs market due to high patient load and most medicines are given under the supervision of a doctor. For this reason, the hospital segment dominates the psychedelic drugs market.
- On the basis of distribution channel, the market is segmented into hospital pharmacy, compounding pharmacy, others. Hospital pharmacy has the largest market share as these medicines treat more number of patients in hospitals, demand for medicines increases in hospital pharmacy.
U.S. Psychedelic Drugs Market, Country Level Analysis
The U.S. psychedelic drugs market is analysed and market size information is provided by source, type, application, route of administration, drugs, end user and distribution channel as referenced above.
Growing acceptance of psychedelic drugs for treating depression across the U.S. is one of the prominent factors for an upsurge demand of psychedelic drugs. Department of Neuroscience, Faculty of Medicine, Norwegian University of Science and Technology, Trondheim, Norway named has stated that in the U.S., more than 30 million people are using psychedelic drugs. This factor has increased the research and development activities in psychedelic drugs across the U.S. Hence, this factor has led various pharmaceutical and therapeutic manufactures to shift towards psychedelic drugs. This has further resulted into continuous focus of psychedelic drugs improvement and reduction of side effects associated with psychedelic drugs. Due to these factors, the market is expected to grow at the significant growth rate in the forecast period of 2020 to 2027.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing R&D Activities in Psychedelic Drugs is Creating New Opportunities for Manufacturers in the U.S. Psychedelic Drugs Market
U.S. psychedelic drugs market also provides you with detailed market analysis for every country growth in aesthetic industry with psychedelic drugs sales, impact of advancement in the psychedelic drugs and changes in regulatory scenarios with their support for the psychedelic drugs market. The data is available for historic period 2010 to 2018.
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