The Psilocybin Assisted Therapy Market is bound to grow on a gracious note in the next 10 years. The healthcare vertical is shifting to “value” from “production”. This shift concerning collaboration (in place of competition) is expected to set new benchmarks in the Psilocybin Assisted Therapy Market. This fast-moving environment is expected to take the healthcare vertical by storm in the next decade.
This schedule talks about psilocybin having a high potential for abuse by individuals and no definitive medical purpose is served by this. These hallucinogens affect the regions of brain that control panic responses by affecting the serotonin receptors. Ultimately, an individual’s mood, perception and cognition is affected. Alterations in these is crucial in improving the health of individuals affected by mental health ailments.
Psilocybin can be used in treatment of depression, anxiety, etc. This multi-dimensional application is sure to open up research and disease management avenues to push the market forward.
Psilocybin comes under the gambit of psychedelic drugs and currently there is a rise in awareness of use of psychedelic drugs and other recreational therapies involving hallucinogens for medical purposes.
FDA approvals for these psychedelic drugs is on the rise since approval of “Esketamine” on 5th March 2019. Which is used for psychiatric disorders and is first psychedelic drug approved by FDA. Such increase in regulatory approvals is surely to drive the market towards a positive market growth.
Psychedelic drugs received their first drug approval in 2020. This initiative will surely drive the American market forward. Furthermore, the presence of key players such as Jazz Pharmaceuticals, Pfizer, etc. are also likely to drive the market growth.
Even though these studies are still in initial stage and can take multiple years to complete, this initiative has given certain boost to this research vertical and made Europe second most important market.
- MindMed
- Compass Pathways
- ATAI Life Sciences
- Field Trip
- DemeRx
- Eleusis
- Hikma Pharmaceuticals PLC
- Pfizer
- Verrian
- Jazz Pharmaceuticals
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Key Segments
By Source Type:
- Natural
- Synthetic
By Application:
- Cluster Headaches
- Anxiety Disorders
- Psychiatric Disorders
By End user:
- Hospitals
- Specialized Clinics
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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