About Psychedelic Medicine
Psychedelic medicine usually refers to relations formed between the use of psychedelic substances such as psilocybin, MDMA, and ayahuasca in an experimental session to treat a variety of mental disorders. This approach has gained popularity for its capability at treating a number of medical conditions, such as depression, anxiety, PTSD, addiction, and chronic pain. Psychedelic medicines seem to differ from other medication alternatives, as these shifts alter brain chemistry often leading to swift changes at the emotional or cognitive levels that lead to long-lasting therapeutic effects. A lot has transpired in psychedelic medicine in recent years, and the results from these clinical trials have been promising. Psilocybin has been linked to finding reductions in symptoms of depression and anxiety among terminally ill patients; MDMA has been shown to be quite effective among patients with PTSD. Such substances summon deep probing into human psyche and properties of compassion, in a unique way. Despite much possibility and bright future, psychedelic medicine is still in experimentation. A number of commonly used psychedelics are not yet approved for usage on the public. Besides, due to legal and regulatory restrictions, each enlargement of psychedelics on the convention attention may require further efforts to garner broad acceptance. If research continues on fair course, it is believed that the realm of psychedelic therapy could provide an alternative to conventional psychiatric drugs in what may offer hope to entire sub-populations of treatment-resistant patients.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AstraZeneca (Cambridge, United Kingdom), Cybin Corp. (Toronto, Canada), Jazz Pharmaceuticals Inc. (Dublin, Ireland), Pfizer Inc. (New York, United States), COMPASS Pathways (London, United Kingdom), Entheon Biomedical Corp (Vancouver, Canada), PharmaTher Holdings Ltd. (Toronto, Canada), F. Hoffmann-La Roche Ltd (Basel, Switzerland), Verrian (Wilmington, United States), Mind Medicine (New York, United States), Hikma Pharmaceuticals PLC (London, United Kingdom), Celon Pharmaceuticals (Warsaw, Poland), GH Research (Dublin, Ireland), NeonMind Biosciences (Vancouver, Canada) and Usona Institute (Madison, United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Psychedelic Medicine market by , Application (Mental Health Disorders, Pain Management, End-of-Life Care and Existential Therapy) and Region.
On the basis of geography, the market of Psychedelic Medicine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Drug Type, the sub-segment i.e. Psilocybin will boost the Psychedelic Medicine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Hospitals & Clinics will boost the Psychedelic Medicine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Delivery Method , the sub-segment i.e. Oral will boost the Psychedelic Medicine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.