Psilocybin Assisted Therapy Market Trends

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

Base Year	2023
Forecast Year	2024-2036
CAGR	4.3%
Regional Scope	North America (United States, and Canada) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Asia-Pacific (Japan, China, India, South Korea, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (United Kingdom, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

The psilocybin assisted therapy industry size is anticipated to witness more than 4.3% CAGR during the forecast period i.e., between 2024-2036.

Rising prevalence of depression and mental disorders and high use in the treatment of anxiety will impel the market growth.

North America industry is predicted to dominate majority revenue share by 2036, led by higher growth rate in the intranasal segment as companies launch novel psychedelic sprays and proven efficacy increases its popularity.

The major players in the market are Cybin Irl Limited, Mind Medicine Inc., COMPASS Pathways plc, Atai Life Sciences N.V., Fieldtrip, LLC., DemeRx, Hikma Pharmaceuticals PLC, Jazz Pharmaceuticals Inc, Pfizer Inc., Others.

Psilocybin Assisted Therapy Market Trends