Psychedelic Drugs Market Share

North American Market Forecast

The psychedelic drugs market in North America is anticipated to hold a share of about 40% by the end of 2037. The market is also growing on account of rising government initiatives to spread awareness among people regarding mental health conditions. For instance, the Canadian government organized Mental Illness Awareness Week in October 2022 as part of a nationwide initiative to raise awareness of the realities of mental illness among Canadians.

It enables the general population to dispel myths about mental disease and advance knowledge about mental health. In turn, this fosters societal acceptance, respect, and fair treatment of those with mental disorders while also lowering stigma. As a result, these awareness campaigns may increase the desire to take psychedelic drugs, which is predicted to spur market expansion throughout the projection period.

APAC Market Analysis

The Asia Pacific region will also encounter huge growth for the psychedelic drugs market shortly and will hold the second position due to the increasing government support given to organizations looking into psychedelic chemicals' medicinal potential, which could result in better therapeutic approaches to treating mental disorders in the area.