Psychedelic Drugs Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Psychedelic Drugs Market is Segmented By Origin of Substance (Natural, Synthetic), By Type of Psychedelic Substance (Gamma-hydroxybutyrate, Ketamine, ....
Psychedelic Drugs Market Size
Market Size in USD
CAGR15.2%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 15.2% |
| Market Concentration | Medium |
| Major Players | Celon Pharma, iX Biopharma, Lykos Therapeutics, MindMed, Janssen Pharmaceuticals |
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Psychedelic Drugs Market Analysis
The psychedelic drugs market is estimated to be valued at USD 2.7 Bn in 2024 and is expected to reach USD 7.3 Bn by 2031, growing at a compound annual growth rate (CAGR) of 15.2% from 2024 to 2031. With rising awareness about mental health and increasing research on psychedelic assisted psychotherapy, more people are open to the idea of using psychedelic substances like psilocybin and MDMA for conditions such as anxiety, depression, PTSD and other addictions.
The psychedelic drugs market is expected to witness a positive growth trend during the forecast period. There is an increased acceptance of psychedelic assisted therapy among the general public as well as medical professionals due to promising results for health issues like treatment resistant depression. Significant funding from private and public sources is supporting ongoing research of FDA approved trials of psychedelic compounds.