Psilocybin Assisted Therapy Market Size

Psilocybin Assisted Therapy Market size is anticipated to witness more than 4.3% CAGR during the forecast period i.e., between 2024-2036. 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.