Global Psychedelic Therapeutics Market Research Report 2020-2030: Psychedelic Substance, Origin, Type of Therapy, Route of Administration, Key Geographies – ResearchAndMarkets.com
October 16, 2020DUBLIN–(BUSINESS WIRE)–The “Global Psychedelic Therapeutics Market by Type of Psychedelic Substance, by Origin, by Type of Therapy, by Route of Administration and by Key Geographies: Industry Trends and Global Forecasts, 2020-2030” report has been added to ResearchAndMarkets.com’s offering.
“Global Psychedelic Therapeutics Market, 2020-2030” report features an extensive study of the current market landscape, offering an informed opinion on the likely adoption of psychedelic therapeutics, over the next decade. The report features an in-depth analysis, highlighting the diverse capabilities of stakeholders engaged in this domain.
Depression is one of the most common chronic neurological conditions in modern society. It is estimated that over 250 million people, across all age groups, suffer from some form of depression, worldwide. Moreover, this condition along with other mental health disorders are estimated to be responsible for productivity associated losses worth over USD 1 trillion, every year, at the global level. In fact, the US reported a sharp increase (~20%) in number of prescriptions for antidepressants and anti-anxiety drugs during the global lockdown enforced to curb the spread of COVID-19.
According to the World Health Organization, the major roadblocks to effective treatment for depression and other mental illnesses include the lack of understanding of the aforementioned conditions resulting in an irrational social stigma, inaccurate diagnosis, and paucity of effective medication. In this context, it is worth highlighting that there is a growing body of clinical evidence supporting the therapeutic effect of psychedelic substances on psychiatric conditions, such as depressions.
Experts in this field also believe that psychedelics, at appropriate doses, can be used to address some of the serious psychological implications of the current pandemic.
Over time, it have been demonstrated that psychedelic substances interact with a variety of neurotransmitter pathways, including those of serotonin, acetylcholine, norepinephrine, and dopamine, among several others. In fact, there is evidence that an imbalance in the levels of serotonin in the brain, causes depression. Similarly, the aforementioned biomolecules have been associated with a plethora of neurological conditions.
As a result, biocompatible molecules having the ability to modulate neurotransmitter production/function, have the potential to be put to therapeutic use. Early in the 21st Century, XYREM, a gamma-hydroxybutyric acid based psychedelic drug was approved for the treatment of cataplexy in patients suffering from narcolepsy.
In 2019, SPRAVATO (an analogue of ketamine), developed by Johnson and Johnson, was approved for use in patients suffering from treatment-resistant depression. Recently, the US FDA granted the breakthrough drug designation to 3,4-Methylenedioxymethamphetamine (MDMA) and psilocybin, based on clinical evidence of these substances being capable of offering substantial therapeutic benefit in treating major depressive disorder, post-traumatic stress disorder and treatment resistant depression over other available therapies.
Currently, several stakeholders in the pharmaceutical industry are actively evaluating the therapeutic potential of psychedelic substances against a wide array of mental health problems. As more players achieve proof-of-concept, this niche market is anticipated to witness substantial growth in the mid-long term.
Scope of the Report
One of the key objectives of the report was to estimate the existing market size and the future opportunity for psychedelic therapeutics, over the next decade. Based on multiple parameters, such as target patient population, likely adoption and the annual treatment cost, we have provided informed estimates on the evolution of psychedelic therapeutics market for the period 2020-2030.
The report also features the likely distribution of the current and forecasted opportunity across
[A] origin of substance (natural and synthetic)
[B] type of psychedelic substance (gamma-hydroxybutyrate, Ketamine, MDMA, and psilocybin)
[C] key geographical regions (North America, Europe, Asia Pacific and rest of the world)
[D] target disease indications (depression and anxiety disorders, pain disorders, sleep related disorders and trauma)
[E] route of administration (oral, intravenous, intranasal and sublingual).
Key Questions Answered
- Who are the leading industry players in this domain?
- What are the key clinical conditions addressed by psychedelic therapeutics?
- Who are the key opinion leaders from renowned academic and research institutes who can help you drive your development efforts?
- What are the factors that are likely to influence the evolution of this market?
- Which partnership models are commonly adopted by stakeholders in this industry?
- Which are the most active clinical trial centres in this domain?
- How is the current and future market opportunity likely to be distributed across key market segments?
For more information about this report visit https://www.researchandmarkets.com/r/go1fwt
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