Psychedelic Drugs Market in U.S. : Size, Share, Trends and Detailed Analysis of Current and Future, Leading Players are Johnson & Johnson, Jazz Pharmaceuticals, COMPASS, Hikma Pharmaceuticals
Psychedelic drugs market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 16.3% in the forecast period of 2020 to 2027 and expected to reach USD 6,859.95 million by 2027 from USD 2,077.90 million in 2019. Growing acceptance of psychedelic drugs for treating depression and increasing prevalence of depression and mental disorders are the factors for the market growth.
The Psychedelic Drugs Market report makes available a thoughtful overview of product specification, technology, product type and production analysis taking into account major factors such as revenue, cost, and gross margin. The report is sure to offer brilliant solution to the challenges and problems faced by industry. This market report comprises of extensive study about miscellaneous market segments and regions, emerging trends, major market drivers, challenges and opportunities in the market. This Psychedelic Drugs Market document also displays the key developments in the industry with respect to current scenario and the approaching advancements.
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This Psychedelic Drugs Market analysis report is a cautious investigation of current scenario of the market and future estimations which considers several market dynamics. Market research report acceptance is very essential for the business growth as it helps with the better decision making, enhancing revenue generation, prioritizing market goals & results in profitable business. It makes easy for ABC industry to visualize what is already available in the market, what market anticipates, the competitive environment & what should be done to surpass the competitor. The Psychedelic Drugs Market report not only aids to save valuable time but also adds credibility to the work that has been done to grow the business.
The major players covered in the U.S. Psychedelic Drugs Market report are Johnson & Johnson Services, Inc., Jazz Pharmaceuticals, Inc., Celon Pharma SA, COMPASS, usonainstitute.org, Develco pharma schweiz ag , Doughlas pharmaceuticals limited, NeuroRX, Inc., Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals, LLC., AVADEL PHARMACEUTICALS, PLC among other players in the U.S. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Market Analysis and Insights: U.S. Psychedelic Drugs Market:
The psychedelic drugs are used to enhance or change sensory perceptions, energy levels, thought processes, and to facilitate spiritual experiences. Psychedelic drugs can be categorized into dissociative drugs (such as PCP), empathogens and serotonergic (classic hallucinogens) (such as LSD). These drugs are used in the treatment of major depressive disorder, treatment-resistant depression, panic disorder, post-traumatic stress disorder, and opiate addiction among others. Chemical substances that are used in the psychedelic drugs are a group of LSD, and plants. Psychedelic are sourced from synthetic process (human-made) and plants or mushrooms. Psychedelic drugs has various street names such as LSD which are also known as acid, blotter, dots, sugar, trips and window pane; Ketamine are also known as vitamin K, bump, green, K/Special K, purple and super acid; PCP are also known as angel/angel dust, boat/love boat, peace, killer weed, super grass and ozone.
Psychedelic drugs market has increased with increased number of psychedelic drugs as compared to the past few years and increasing prevalence of depression and mental disorders in the U.S.
In 2019, The National Alliance on Mental Illness has stated that 1 in 6 in the U.S. youth aged 6-17 experience a mental health disorder each year and 1 in 25 U.S. adults experience serious mental illness each year.
Growing acceptance of psychedelic drugs for treating depression is also increasing market value as the psychedelic drugs has repetitively proven its high rates of effectiveness for treatment for nicotine dependence, alcohol dependence, anxiety associated terminal illness and chronic PTSD as compared to other antidepressants. Currently, different research studies are taking place that are expected to provide a competitive advantage for new and innovative therapeutic manufacturers with competitive psychedelic drugs and methods to develop, define psychedelic drugs, and various other opportunities in the U.S. psychedelic market. However, high cost of psychedelic drug and stringent regulations for psychedelic drugs is expected to restraint the market growth as to get approvals is difficult and complex task along with the enforced monetary liability upon psychedelic drugs manufacturers and researchers.
This psychedelic drugs market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for anAnalyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
U.S. Psychedelic Drugs Market, By Source:
On the basis of type, the U.S. Psychedelic Drugs Markett is segmented into dissociatives, empathogens, and serotonergic (classical psychedelic drugs). The dissociatives segment dominates the psychedelic drugs market as XYREM (sodium oxybate, Jazz Pharmaceuticals Inc.) is the only approved drug of disruptive psychedelics for the treatment of narcolepsy.
On the basis of application, the U.S. Psychedelic Drugs Market is segmented into narcolepsy, treatment-resistant depression, post-traumatic stress disorder (PTSD), major depressive disorder, others. Narcolepsy as a gamma hydroxybutyric acid (GHB) derivative dominates the psychedelic drugs market and primarily uses psychedelic medicine and the drug has been approved for narcolepsy. Due to this reason, the narcolepsy segment dominates the psychedelic drugs market.
On the basis of route of administration, the U.S. Psychedelic Drugs Market is segmented into oral, intranasal, parenteral, others. Oral is dominant in the psychedelic drugs market as Xyrem is the most branded drug available in the market in oral dosage forms. In addition, patient adherence is very important in symptomatic treatment of the disease. Oral administration of the drug is highly convenient for patients as compared to other forms.
On the basis of drugs, the U.S. Psychedelic Drugs Market is segmented into gamma hydroxybutyric acid (GHB), ketamine, 3,4-methylenedioxymethamphetamine (ecstasy), psilocybin. Gamma hydroxybutyric acid (GHB) dominates the psychedelic drugs market as Xyrem is primarily psychedelic drug and falls into this category. For this reason, the gamma hydroxybutyric acid (GHB) segment dominates the psychedelic drugs market.
On the basis of end user, the U.S. Psychedelic Drugs Market is segmented into hospitals, speciality clinic, research organisation, others. Hospitals dominate the psychedelic drugs market due to high patient load and most medicines are given under the supervision of a doctor. For this reason, the hospital segment dominates the psychedelic drugs market.
On the basis of distribution channel, the U.S. Psychedelic Drugs Market is segmented into hospital pharmacy, compounding pharmacy, others. Hospital pharmacy has the largest market share as these medicines treat more number of patients in hospitals, demand for medicines increases in hospital pharmacy.
Competitive Landscape and Psychedelic Drugs Market Share Analysis:
U.S. psychedelic drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the U.S. psychedelic drugs market.
Many product launch and developments are also initiated by the companies worldwide which are also accelerating the U.S. psychedelic drugs market.
In September 2019, Jazz Pharmaceuticals, Inc. has published optimistic data sets from JZP-258’s Phase 3 study for the treatment of excessive daytime sleepiness (EDS) and cataplexy in adults with narcolepsy. The Phase 3 clinical study data sets will help company to upsurge its market presence as the product is a unique formulation and has 92% less sodium as compared to Xyrem (sodium oxybate).
In March 2019, Johnson & Johnson Services, Inc. has received the U.S. Food and drug Administration (FDA) authorization for SPRAVATOTM (esketamine) nasal spray CIII antidepressant for treatment-of resistant depression. The U.S. Food and Drug Administration (FDA) authorization will help company to lead the market as the product is first new mechanism of action for treatment of major depressive disorder in decades.
Clinical study data sets, authorization, collaboration, joint ventures and other strategies by the market players is enhancing the market in the U.S. Psychedelic drugs market also provides the benefit for organisation to improve their offering for psychedelic drugs.
- Shifting Industry dynamics
- In-depth Psychedelic Drugs Market segmentation
- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies for key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
Key Questions Answered in Global Psychedelic Drugs Market Report
- What is the scope of growth of companies in the global Psychedelic Drugs market?
- What will be the Y-o-Y growth of the global Psychedelic Drugs market between 2020 and 2027?
- What is the influence of changing trends in technologies on the global Psychedelic Drugs market?
- Will North America continue to be the most profitable market for Psychedelic Drugs providers?
- Which factors will hamper the growth of the global Psychedelic Drugs market during the forecast period?
- Which are the leading companies in the global Psychedelic Drugs market?
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TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Market Landscape
• Market Ecosystem
• Market Characteristics
• Market Segmentation Analysis
Part 05: Pipeline Analysis
• Pipeline Analysis
Part 06: Market Sizing
• Market Definition
• Market Sizing
• Market Size And Forecast
Part 07: Five Forces Analysis
• Bargaining Power Of Buyers
• Bargaining Power Of Suppliers
• Threat Of New Entrants
• Threat Of Substitutes
• Threat Of Rivalry
• Market Condition
Part 08: Market Segmentation
• Market Opportunity
Part 09: Customer Landscape
Part 10: Regional Landscape
• Geographical Segmentation
• Regional Comparison
• North America
• South America
• Market Opportunity
Part 11: Decision Framework
Part 12: Drivers and Challenges
• Market Drivers
• Market Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
• Landscape Disruption
Part 15: Vendor Analysis
• Vendors Covered
• Vendor Classification
• Market Positioning Of Vendors
Part 16: Appendix
• List Of Abbreviations
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