MDMA-assisted Therapy Market Forecast and CAGR
According to the latest research by Persistence Market Research, the MDMA-assisted therapy market is set to witness positive growth of CAGR 3.4% during 2021-2031. MDMA (3-4 methylenedioxymethamphetamine) is a drug that can be used in posttraumatic stress disorder (PTSD), the anxiety caused due to end-stage diseases like cancer.
PTSD can occur after any traumatic event or can occur with depression and anxiety. The MDMA- assisted therapy market is mainly driven by the increase in the prevalence of PTSD, anxiety, new products in the pipeline and government initiatives for treatment of PTSD. The companies are exploring treatment options for PTSD with the help of derivatives of MDMA and different combinations.
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What Is Driving Demand for MDMA-assisted Therapy?
MDMA- assisted therapy includes treatment of posttraumatic stress disorder, anxiety related to end-stage diseases like cancer, social anxiety in autistic patients, etc. According to the national centre for PTSD, about 6% of the population will have PTSD at some point in their lives. Also, in the U.S. during a given year about 15 million people suffer from PTSD. This increasing prevalence of PTSD will drive the market in the forecasted period.
The initiatives taken by the government for the awareness of anxiety and post-trauma stress will drive the market. For instance, the U.S. is the helpline centre for veterans who are diagnosed with PTSD or suffer from the same. In addition, the firms are working on clinical trials for using MDMA as a medication to treat PTSD.
Moreover, an increase in the awareness about MDMA-assisted therapy and R & D investment by the companies for developing new products is expected to increase demand for MDMA-assisted therapy during the forecast period.
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Who Are The Key Manufacturers Of MDMA-assisted Therapy?
Currently, there are no FDA approved MDMA drugs available in the market. However, the companies are involved in clinical trials for the treatment of post-traumatic stress disorder (PTSD), anxiety related to cancer, depression etc. For instance, in 2019, Atai Life Sciences and Bionomics partnered together for exploring the combination treatment regimen.
This combination included EmpathBio’s MDMA derivative, EMP-01, and Bionomics’ lead drug candidate, BNC210. Apart from this, in June 2021, Awakn Life Sciences Corp. has filed a patent application for its MDMA-derived new chemical entities, AWKN001 and AWKN002 for the treatment of a broad range of addictions.
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Regional outlook Of MDMA-assisted Therapy Market
The MDMA –assisted therapy market is mainly dominated by North America with countries like the US and Canada is dominating the MDMA-assisted therapy market. This is due to the presence of major players like Awakn Life Sciences and the government initiatives to spread awareness about post-trauma stress.
Another region that is expected to dominate the market is Europe followed by Asia. This is because PTSD is common in this area. According to a study published in Oxford Medicine, PTSD affects approximately 1% to 3% of the European population every year.
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