Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Psilocybin Assisted Therapy Market size is anticipated to witness more than 4.3% CAGR during the forecast period i.e., between 2025-2037.
Further, the market generated significant revenue in the year 2021. An increase in the use of psilocybin in recreational therapy under psychotropic drugs has a positive impact on the market growth. About 74 clinical trials are performed on psilocybin in 2021 to study the treatment of various mental disorders like depression and post-traumatic stress disorder.
Also, the ability to alter the mood, perception, and cognition of individuals affected by mental disorders is estimated to boost market growth during the forecast period. Also, minimal side effects and cost effectiveness of the drug impact the market growth. As per the reports, the cost of Spravato was about USD 600-800 and the cost of subsequent treatment sessions includes more than USD 1500 with personnel supervision and equipment. All these extra costs can be reduced with the use of psilocybin.
Psilocybin Assisted Therapy Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Prevalence of Depression and Other Mental Disorders – The increase in the level of stress faced by people leads to an increased incidence of mental disorders such as depression, anxiety, and stress. It is estimated that in the U.S about 21 million adults suffered from depression in 2020.
- High Use in Treatment of Anxiety – It is observed that the use of psilocybin decreased anxiety in 78% of people with mental health disorders.
- Rise in the Use of Psilocybin drugs – The use of psychotropic drugs such as psilocybin raised from 10% in 2018 to 15% in 2019.
- Increase in Medical Approval – The Drug Enforcement Administration in 2018 declared to speed up the application process for research of schedule I drug that are registered by more than 590 researchers in 2017.
Challenges
- Stigma Associated with Psychedelic
- Uncertainty around getting FDA approval
- Early Stage in Lifecycle of Psychedelics Industry
Psilocybin Assisted Therapy Market: Key Insights
Psilocybin Assisted Therapy Segmentation
The global psilocybin assisted therapy market is segmented and analyzed for demand and supply by end-users into hospitals, specialty clinics, trauma and rehabilitation centers, academic and research institutes. Out of these, the hospital segment is anticipated to boost the market growth owing to favorable conditions to race ahead and encouraging results from psilocybin rials on patients suffering from depression.
Our in-depth analysis of the global psilocybin assisted therapy market includes the following segments:
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Customize this ReportPsilocybin Assisted Therapy Industry - Regional Synopsis
Regionally, the global psilocybin assisted therapy market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is anticipated to hold largest revenue share by 2037, led by higher growth rate in the intranasal segment as companies launch novel psychedelic sprays and proven efficacy increases its popularity.
Companies Dominating the Psilocybin Assisted Therapy Landscape
- Cybin Irl Limited
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Mind Medicine Inc.
- COMPASS Pathways plc
- Atai Life Sciences N.V.
- Fieldtrip, LLC.
- DemeRx
- Hikma Pharmaceuticals PLC
- Jazz Pharmaceuticals, Inc
- Pfizer Inc.
- Numinus Wellness Inc.
In the News
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Cybin Irl Limited collaborated with IntelGenx Corp. and introduced a dissolvable oral film that is dosed with psilocybin. This fast-acting film has the potential to increase both the safety and efficacy of psilocybin when administered in this manner, for treating major depressive disorders along with therapy.
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COMPASS Pathways Plc., announced positive results regarding the usage of COMP360 psilocybin therapy in anorexia nervosa and severe treatment-resistant depression at the Society of Biological Psychiatry Annual Meeting in New Orleans, from two investigator-initiated studies.
Author Credits: Radhika Pawar
- Report ID: 4330
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
