Psychedelic Drugs Market is predicted to reach USD 8.6 billion at a CAGR of 14.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Psychedelic Drugs Market”. The Psychedelic Drugs market is estimated to register a CAGR of 14.20% during the forecast period of 2023 to 2032.

Psychedelic Drugs Market Highlights

The global Psychedelic Drugs market is accounted to register a CAGR of 14.20% during the forecast period and is estimated to reach USD 8.6 billion by 2032.

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.  It's now crucial to educate people about the various causes of these illnesses, the difficulties they might cause, and the available treatments that can be used to treat these terminal illnesses. The market for psychedelic substances will not grow as quickly because of their high cost.

Key Players

MRFR recognizes the following companies as the key players in the global Psychedelic Drugs market— 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), Entheon Biomedical Corp (Canada), PharmaTher Holdings Ltd. (Indi, NRx Pharmaceuticals, Inc. (U.S.), usonainstitute.org (U.S.).

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Psychedelic Drugs Market Research Report

Segment Analysis

The global Psychedelic Drugs market has been segmented based on sources, type, drugs, application, route of administration, end-user and distribution channel.

On the basis of source, the market is segmented into Synthetic and Natural. The synthetic segment was attributed to holding the largest market share in 2022. Because of studies on the therapeutic effects of psychedelics, particularly for mental health conditions including anxiety and depression

Based on type, the global Psychedelic Drugs market has been segmented into Empathogens, Dissociatives and Others. The dissociative segment was expected to hold the largest market share in 2022. Because they have the potential to create dissociation, a condition in which a person feels cut off from their typical sense of self.

Based on drugs, the global Psychedelic Drugs market has been segmented into Gamma-Hydroxybutyric Acid, Ketamine, Psilocybin and Others. The ketamine segment was expected to hold the largest market share in 2022. Because it is becoming more well-known for its quick-acting antidepressant effects while being used historically as an anesthetic.

Based on application, the global Psychedelic Drugs market has been segmented into Narcolepsy, Treatment Resistant Depression, Major Depressive Disorder, Opiate Addiction, Post-Traumatic Stress Disorder and Others. The treatment resistant depression segment was expected to hold the largest market share in 2022. Because mental illnesses like depression, anxiety, and post-traumatic disorder are becoming more common.

Based on route of administration, the global Psychedelic Drugs market has been segmented into Oral, Inhalation and Injectable. The injectable segment was expected to hold the largest market share in 2022. This is because the hallucinogenic material is injected straight into the bloodstream during an injection, producing quick and strong effects.

Based on end-user, the global Psychedelic Drugs market has been segmented into Hospitals, Specialty Clinics, Homecare and Others. The specialty clinics segment was expected to hold the largest market share in 2022. This is because psychedelic substances are widely used in clinic health facilities to treat mental illness.

Based on distribution channel, the global Psychedelic Drugs market has been segmented into Hospitals Pharmacy, Retail Pharmacy and Online Pharmacy. The hospitals pharmacy was expected to hold the largest market share in 2022. Because of the increase in hospital stays and the demand for specialist care for mental health conditions like PTSD, depression, and anxiety.

Regional Analysis

The global Psychedelic Drugs market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Psychedelic Drugs market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Psychedelic Drugs market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Psychedelic Drugs market comprises of Middle East, Africa, and Latin America.

The largest market share for Psychedelic Drugs was maintained by the North American regional sector. There is an increasing need for psychedelic-assisted therapies due to public interest in novel and alternative ways to mental health care. Patient Advocacy: Raising awareness and acceptance of psychedelic therapy has been aided by the advocacy of patient organizations as well as people who have benefited from it. Partnership between North American firms, researchers, and groups with overseas counterparts has generated an international impact on the psychedelic medication market.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Psychedelic Drugs is driven by rising mental diseases comes 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.

Additionally, because the region's growing rate of mental illnesses like depression and the government's increased emphasis on expanding access to quality treatment is to blame. The high population density, lack of coping strategies for stress, and growing urbanization of the area are all factors in the increased prevalence of mental illnesses there. Psychedelic medications and therapies have been demonstrated to be useful in treating depression by altering a person's state of consciousness and helping them.

Furthermore, the rest of the world's Psychedelic Drugs market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising use of growing urbanization of the area are all factor. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.

Key Findings of the Study

• The global Psychedelic Drugs market is expected to reach USD 8.6 billion by 2032, at a CAGR of 14.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the increasing emphasis placed on prevalence of mental illnesses there by government bodies through policies and initiatives.


• Based on type, the dissociative segment was expected to hold the largest market share in 2022.


• 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), Entheon Biomedical Corp (Canada), PharmaTher Holdings Ltd. (Indi, NRx Pharmaceuticals, Inc. (U.S.), usonainstitute.org (U.S.)