Psychedelic Drugs Market Research Report — Global Forecast till 2032

Psychedelic Drugs Market Research Report Information By Source (Synthetic and Natural), Type (Empathogens, Dissociatives, Others), By Drugs (Gamma-Hydroxybutyric Acid, Ketamine, Psilocybin, Others), By Application (Narcolepsy, Treatment Resistant Depression, Major Depressive Disorder, Opiate Addiction, Post-Traumatic Stress Disorder, Others), By Route of Administration (Oral, Inhalation, Injectable), By End-User (Hospitals, Specialty Clinics, Homecare, Others), By Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, Online Pharmacy)

ID: MRFR/HC/17701-HCR | 128 Pages | Author: Rahul Gotadki | February 2024         

Global Psychedelic Drugs Market Overview


Psychedelic Drugs Market Size was valued at USD 2.6 Billion in 2022. The Psychedelic Drugs market industry is projected to grow from USD 165.2 Billion in 2023 to USD 8.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.20% during the forecast period (2023 - 2032). Increasing popularity of psychological drugs for the treatment of depression and the rising prevalence of mental disorders are the key market drivers boosting the expansion of the market.


Psychedelic Drugs Market Overview


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Psychedelic Drugs Market Trends



  • Growing understanding of mental health is driving the market growth


Market CAGR for Psychedelic Drugs is being driven by growing Conscience about Mental Health. Various chemicals, such as lysergic acid diethylamide (LSD) and chemicals derived from plants are used in psychedelic drugs. These medications have been shown to alter or improve energy levels, mental processes, sensory impressions, and even spiritual experiences.


Additionally, Due to their ability to heal the mind and their role in mental health and treatment procedures for humans, psychedelics have become very popular in the past ten years. Researchers and scientists are delving into the potential therapeutic benefits of psychedelic drugs and their constituents, which may offer a fresh approach to treating depression in patients. The acceptance of psychedelic medications has increased due to ongoing study and development in these medicines.


Mental disorders, often known as mental illnesses, can be sporadic or chronic and impact a person's feelings, mood, thinking, and behavior. An individual's ability to carry out their daily responsibilities might be impacted by depression and mental health issues. Mental diseases come in many different forms. Globally, the prevalence of depression and mental illnesses has increased for a variety of reasons, such as genetics and family history, abuse or stress, biological variables, alcohol or recreational drug use, and many more.


For instance, The State of Mental Health in America 2022 report states that there were 197,000 more teens experiencing a severe major depressive episode (MDE) than there were in the 2021 dataset. Consequently, an increase in the prevalence of depressive illnesses fuels a spike in the demand for psychedelic substances, driving the market's growth throughout the projection period. Thus, result in driving the Psychedelic Drugs market revenue.


Psychedelic Drugs Market Segment Insights:


Psychedelic Drugs Source Insights


The Psychedelic Drugs Market segmentation, based on source includes synthetic and natural. The synthetic segment dominated the market. Chemical compounds produced in labs by chemical synthesis are known as synthetic psychedelic drugs. These drugs, like lysergic acid diethylamide, frequently have psychoactive qualities that affect mood, perception, and cognitive functions.


Psychedelic Drugs Type Insights


The Psychedelic Drugs Market segmentation, based on type, includes empathogens, dissociatives, others. The dissociatives segment generated the most income. Dissociative substances are sometimes used recreationally because of their hallucinogenic and mind-altering effects, which make them desirable. The sensations and altered states of consciousness they elicit may be alluring to some people. Drugs like MDMA and ketamine are occasionally connected to the nightlife and party scene.


Psychedelic Drugs Drugs Insights


The Psychedelic Drugs Market segmentation, based on drugs includes gamma-hydroxybutyric Acid, ketamine, psilocybin, others. The ketamine segment dominated the market. This is because using ketamine for therapeutic or medicinal purposes is best performed under the direction and oversight of trained medical specialists. Ketamine self-management or recreational use carries significant health hazards, such as the potential for hallucinations, confusion, and ketamine-induced dissociation syndrome, a medical emergency.


Psychedelic Drugs Application Insights


The Psychedelic Drugs Market segmentation, based on application includes Narcolepsy, Treatment Resistant Depression, Major Depressive Disorder, Opiate Addiction, Post-Traumatic Stress Disorder, Others. The treatment resistant depression segment dominated the market. Due to The ability of ketamine to provide strong and quick antidepressant effects is one of its main benefits in the context of TRD. Healthcare practitioners should carefully assess its use as it is not a first-line treatment


Psychedelic Drugs Route of Administration Insights


The Psychedelic Drugs Market segmentation, based on Route of Administration includes Oral, Inhalation, Injectable. The injectable segment dominated the market. This is because the patient's degree of comfort and anxiety may be affected by the method of administration. The choice of administration technique may be affected by an individual's discomfort or dislike to particular routes (e.g., needles).


Psychedelic Drugs End-user Insights


The Psychedelic Drugs Market segmentation, based on end-user includes Hospitals, Specialty Clinics, Homecare, Others. The specialty clinics segment dominated the market. Because specialty clinics attention on particular medical specializations or forms of treatment. Clinics for cardiology, dermatology, and reproductive health are a few examples. These clinics could provide outpatient treatments in addition to specialist care.


Psychedelic Drugs Distribution Channel Insights


The Psychedelic Drugs Market segmentation, based on Distribution Channel includes Hospitals Pharmacy, Retail Pharmacy, and Online Pharmacy. The hospitals pharmacy segment dominated the market. This is because hospital pharmacists oversee inpatients' drug regimens in conjunction with medical staff. This include examining prescription orders, looking for any drug interactions, making sure dosages are proper, and giving healthcare professionals information.


Figure1: Psychedelic Drugs Market, by Distribution channel, 2022&2032 (USD Billion)


Psychedelic Drugs Market, by Distribution channel, 2022&2032


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Psychedelic Drugs Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Psychedelic Drugs market area will dominate this market, because new and innovative approaches to mental health care are attracting public interest. Patient Advocacy: People who have benefited from psychedelic therapy as well as patient organizations have worked to increase public knowledge of and acceptance for this treatment.


Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.


Figure2: PSYCHEDELIC DRUGS MARKET SHARE BY REGION 2022 (USD Billion)


PSYCHEDELIC DRUGS MARKET SHARE BY REGION 2022


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Europe Psychedelic Drugs market has the second-largest portion of the market due to the rise in various forms of mental illness and numerous factors, including genetics and family history. Further, the German Psychedelic Drugs market had the biggest market share, and the UK Psychedelic Drugs market was the fastest growing market in the European region


The Asia-Pacific Psychedelic Drugs Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. This is due to increasing urbanization, high population density, and dearth of stress management techniques all contribute to the higher than average occurrence of mental diseases there.. Moreover, China’s Psychedelic Drugs market had the biggest market share, and the Indian Psychedelic Drugs market was the fastest growing market in the Asia-Pacific region.


Psychedelic Drugs Key Market Players& Competitive Insights


Leading market players are putting a lot of money on R&D to expand their product lines, which will help the market for weight reduction products grow. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. to grow and endure in an increasingly cutthroat and dynamic market, Psychedelic Drugs industry must provide reasonably priced goods.


Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the global Psychedelic Drugs industry to help customers and expand the market segment. In recent years, the Psychedelic Drugs industry has provided some of the biggest benefits to medicine. Major players in the Psychedelic Drugs market, including Jazz Pharmaceuticals, Inc. (U.S.), Janssen Global Services, LLC (a subsidiary of Johnson & Johnson Services, Inc.) (U.S.), Hikma Pharmaceuticals PLC (U.K.), COMPASS (U.S.), Verrian (Germany), Pfizer Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Avadel (Ireland), Celon Pharma SA.(Poland), Cybin Corp. (Canada), GH Research (Ireland).


Based in Ireland, Jazz Pharmaceuticals plc is a biopharmaceutical business that was formed by the merging of Azur Pharma plc and Jazz Pharmaceuticals, Inc. 2003 saw it’s founding. The FDA-approved medication Xyrem (sodium oxybate), which is the sodium salt of the naturally occurring neurotransmitter γ-amyloid, is one of the company's notable products. In January 2021, Jazz said that it will buy GW Pharmaceuticals for $7.2 billion USD or $220 USD each ADR, which would be paid for with $200 in cash and $20 worth of Jazz shares.


A specialty pharmaceutical firm, Avadel Pharmaceuticals plc (Nasdaq: AVDL). In hospitals and primary care settings, Avadel offers its goods. With operations in St. Louis, Missouri, and Lyon, France, the company is based in Dublin, Ireland.The business was established in Lyon, France, under the name Flamel Technologies SA. The business bought St. Louis, Missouri-based Éclat Pharmaceuticals. In January 2019, Avadel Pharmaceuticals' COO, Gregory Divis, was named as Mike Anderson's temporary replacement following his resignation as the company's CEO. Concurrently, Avadel's chairman, Craig Stapleton, of Dublin, has also resigned.


Key Companies in the Psychedelic Drugs market include



  • Jazz Pharmaceuticals, Inc. (U.S.)

  • Janssen Global Services

  • LLC (a subsidiary of Johnson & Johnson Services, Inc.) (U.S.)

  • Hikma Pharmaceuticals PLC (U.K.)

  • COMPASS (U.S.)

  • Verrian (Germany)

  • Pfizer Inc. (U.S.)

  • Hoffmann-La Roche Ltd (Switzerland)

  • Avadel (Ireland), Celon Pharma SA.(Poland)

  • Cybin Corp. (Canada)

  • GH Research (Ireland)

  • Entheon Biomedical Corp (Canada)

  • PharmaTher Holdings Ltd. (India)

  • NRx Pharmaceuticals

  • (U.S.)

  • org (U.S.)


Psychedelic Drugs Industry Developments


October 2022: The Ketamine for Chronic and Serious Medical Illness Program was introduced by Numinus Wellness Inc., a mental health care organization that advances safe, evidence-based psychedelic-assisted therapies and new treatments.


August 2021: As evidence for the use of psychedelic chemicals in the treatment of substance misuse and mental health conditions including major depression and post-traumatic stress disorder (PTSD) increases, the University of Wisconsin-Madison established a new research center to oversee continuing study and instruction in these areas.


May 2021: Psilocybin-assisted therapy was found to be effective in providing large, quick, and sustained antidepressant effects in individuals with severe depressive disorder, according to a randomized clinical trial published in PubMed.


Psychedelic Drugs Market Segmentation


Psychedelic Drugs Source Outlook



  • Synthetic

  • Natural


Psychedelic Drugs Type Outlook



  • Empathogens

  • Dissociatives

  • Others


Psychedelic Drugs Drugs Outlook



  • Gamma-Hydroxybutyric Acid

  • Ketamine

  • Psilocybin

  • Others


Psychedelic Drugs Application Outlook



  • Narcolepsy

  • Treatment Resistant Depression

  • Major Depressive Disorder

  • Opiate Addiction

  • Post-Traumatic Stress Disorder

  • Others


Psychedelic Drugs Route of Administration Outlook



  • Oral

  • Inhalation

  • Injectable


Psychedelic Drugs End-UserOutlook



  • Hospital

  • Speciality Clinics

  • Homecare

  • Others


Psychedelic Drugs Distribution Channel Outlook



  • Hospitals Pharmacy

  • Retail Pharmacy

  • Online Pharmacy


Psychedelic Drugs Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size2022 USD 2.6 Billion
Market Size 2023 USD 3 Billion
Market Size2032 USD 8.6 Billion
Compound Annual Growth Rate (CAGR) 16.26% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Source, Type,  Drugs,  Route of Administration,  End-User , Distribution Channel and region
Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil
Key Companies Profiled  Verrian (Germany), Pfizer Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Avadel (Ireland), Celon Pharma SA.(Poland), Cybin Corp. (Canada), GH Research (Ireland), Entheon Biomedical Corp (Canada), PharmaTher Holdings Ltd. (India), NRx Pharmaceuticals, Inc. (U.S.), usonainstitute.org (U.S.)
Key Market Opportunities ·       Rising Awareness towards Mental Health.
Key Market Dynamics ·       Increase Growing Rates of Mental Illness and Depression




Frequently Asked Questions (FAQ) :

The Psychedelic Drugs Market size was valued at USD 2.6 Billion in 2022.

The global market is projected to grow at a CAGR of 14.20% during the forecast period, 2023-2032.

North America had the largest share in the global market

The key players in the market are Verrian (Germany), Pfizer Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Avadel (Ireland), Celon Pharma SA.(Poland), Cybin Corp. (Canada).

The Dissociatives dominated the market in 2022.

The Ketamine had the largest share in the global market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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