Psychedelic Market

Psychedelic Market

Psychedelic Market Forecasts to 2030 - Global Analysis By Product (Lysergic Acid Diethylamide (LSD), 3,4-MethylEnedioxyMethamphetamine (Ecstasy), Phencyclidine, Gamma Hydroxybutyric Acid (GHB), Etamine, Ayahuasca, Salvia and Psilocybin), Drug Type, Application, End User and By Geography

4.8 (34 reviews)
4.8 (34 reviews)
Published: 2023 ID: SMRC24361

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2023)

US $0.8 BN

Projected Year Value (2030)

US $2.21 BN

CAGR (2023 - 2030)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America

According to Stratistics MRC, the Global Psychedelic Market is accounted for $0.8 billion in 2023 and is expected to reach $2.21 billion by 2030 growing at a CAGR of 15.4% during the forecast period. Psychedelics, also known as hallucinogens, are a class of substances that alter perception, mood, and various cognitive processes. They often induce profound changes in consciousness, leading to altered thoughts, feelings, and sensory perceptions. Psychedelics have been used for centuries in various cultures for religious, spiritual, or shamanic purposes. It enhances creativity, focus, and mood.

According to the report by World Health Organization, a specialized agency of the United Nations responsible for international public health, it was estimated that, approximately 5% of Americans suffer from PTSD each year.

Market Dynamics:


Growing acceptance of the therapeutic potential

The global increase in mental health issues and the inadequacy of existing treatments have led to a search for novel and effective therapeutic interventions. Positive outcomes and promising results from these studies have helped change the perception of psychedelics from substances of abuse to potential therapeutic agents, stimulating interest from researchers, healthcare professionals, and the pharmaceutical industry. Additionally, increased awareness and education about the potential therapeutic benefits of psychedelics have contributed to changing societal attitudes which is thereby fuelling the market growth.


Lack of standardization

Lack of standardized protocols for clinical trials can lead to variability in study designs, making it challenging to compare and interpret results across different trials. Determining appropriate dosages and administration methods for psychedelic substances is critical for their safe and effective use. Without standardized guidelines, there may be a lack of clarity on optimal dosages, leading to potential safety concerns or suboptimal therapeutic outcomes. This element is hindering the market from expansion.


Rise in new treatment paradigms

Increased scientific interest and research in the therapeutic potential of psychedelic substances, such as psilocybin and MDMA, have led to numerous clinical trials. Positive results from these trials have garnered attention and support for psychedelic-assisted therapies. Evolving societal attitudes towards mental health and a growing acknowledgment of the limitations of traditional psychiatric treatments have shifted perceptions of psychedelics. Also, advocacy groups and patient testimonials have played a crucial role in raising awareness about the potential benefits of psychedelic-assisted therapies. The convergence of these factors has created a conducive environment for the growth of the psychedelic market


Medical efficacy & research challenges

One of the primary research problems is to standardize dose and delivery techniques. Before psychedelic drugs are extensively utilised for therapeutic or medicinal purposes, they need to pass stringent safety and effectiveness testing in clinical studies. Public mistrust and scepticism may increase if studies on psychedelics are seen as missing scientific rigour or being inconclusive. Insurance companies could be hesitant to pay for psychedelic therapies if there isn't enough proof of their therapeutic benefits. It also reduces the variety of therapeutic alternatives that patients can choose from. The market demand is hampered by these variables.

Covid-19 Impact

The COVID-19 pandemic had negatively impacted the psychedelic market. The epidemic hampered the advancement of psychedelic research investigations and clinical trials. Lockdowns, travel restrictions, and limits on face-to-face meetings caused delays to research efforts and trials. Financial markets experienced volatility during the early phases, leading to changes in investor sentiment across various sectors, including psychedelics. In addition, a more suitable climate for the acceptance and incorporation of psychedelic treatments in the post-pandemic age was created by growing knowledge and shifting attitudes towards mental health.

The psilocybin segment is expected to be the largest during the forecast period

The psilocybin segment is estimated to have a lucrative growth. Psilocybin is primarily known for its psychedelic effects, inducing altered perceptions, sensory experiences, and changes in consciousness. It is believed to work by influencing neural pathways associated with mood regulation and emotional processing. Some studies have shown promising results, with psilocybin-assisted therapy leading to significant reductions in depressive symptoms and improved emotional well-being. Its benefits namely anxiety reduction, enhancing creativity, headache relief and heightened mindfulness fuels the segment demand.

The panic disorders segment is expected to have the highest CAGR during the forecast period

The panic disorders segment is anticipated to witness the highest CAGR growth during the forecast period, due to its integrated therapies and enhanced emotional processing. The psychedelic experience often involves a heightened sense of introspection and mindfulness. This increased awareness may help individuals confront and process their fears, fostering a greater acceptance of emotions and experiences. Many psychedelics, including psilocybin and LSD, primarily interact with serotonin receptors in the brain. This can lead to a temporary shift in the way individuals experience and process fear, potentially helping to break the cycle of panic.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period. There is a growing interest in psychedelic research and development in the Asia-Pacific region, especially in the area of mental health. Additionally, there has been an increase in interest in psychedelic investments and start-ups in the area. In terms of market share and income, India leads the psychedelic drug industry. This dominance is expected to persist as the region's acceptance of these medications for the treatment of depression grows and the industry is being stimulated by rapid research development.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to expanding research trials and shifting regulatory environment. It is home for major key players such as Pfizer Inc, Celon Pharmaceuticals, Cybin Corp, Jazz Pharmaceuticals, and PharmaTher Holdings. There is a rise in the prevalence of mental illnesses like depression in North America. To further inform Canadians on the realities of mental illness, the government of Canada also runs a weekly campaign to raise awareness of the condition. North America is further anticipated to witness growth with rising mental illness and growing awareness programs.

Key players in the market

Some of the key players profiled in the Psychedelic Market include Johnson & Johnson (J&J), Enveric Biosciences, Ceruvia Lifesciences, Apex Labs, Numinus Wellness Inc, Jazz Pharmaceuticals, Cybin Inc, Revive Therapeutics, Psychedelic Water, PharmaTher Holdings Limited, MindMed, Compass Pathways, Field Trip Health, ATAI Life Sciences, Hikma Pharmaceuticals PLC, Verrian, Celon Pharma SA, NRX Pharmaceuticals, Rose Hill Company and Psycheceutical Bioscience Inc.

Key Developments:

In November 2023, Psycheceutical Bioscience Inc announced the launch of a community crowd funding campaign on Wefunder. The campaign is currently open to all investors, and serves as the next step in Psycheceutical's mission to revolutionize mental health treatment by bringing safe, effective, and accessible psychedelic therapies to patients worldwide using precise drug delivery technologies.

In October 2023, The viral brand Psychedelic Water has launched a new product line: Psychedelic Good Mood Mix. This new product takes Psychedelic Water’s award-winning kava-based alcohol alternative and brings it to a new format: a powder drink mix. Psychedelic Good Mood Mix’s powder format is lightweight, making it highly portable.

In August 2023, Rose Hill Company, the leading cultivator, supplier and exporter of premium psilocybin products and biomass in Jamaica, celebrates the premier of their psychedelic wellness program, ONE Retreats, and the launch of their newest psilocybin product— the PATOO gummy. These milestones strengthen Rose Hill's total business and prime the Company for U.S. expansion.

Products Covered:
• Lysergic Acid Diethylamide (LSD)
• 3,4-MethylEnedioxyMethamphetamine (Ecstasy)
• Phencyclidine
• Gamma Hydroxybutyric Acid (GHB)
• Etamine
• Ayahuasca
• Salvia
• Psilocybin

Drug Types Covered:
• Injectable Psychedelic Drugs
• Oral Psychedelic Drugs
• Transdermal Psychedelic Drugs
• Rectal Psychedelic Drugs
• Nasal Psychedelic Drugs

Applications Covered:
• Major Depressive Disorder
• Resistant Depression
• Panic Disorder
• Post-Traumatic Stress Disorder
• Opiate Addiction
• Narcolepsy
• Other Applications

End Users Covered:
• Specialty Clinics
• Hospitals
• Homecare
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Psychedelic Market, By Product
5.1 Introduction
5.2 Lysergic Acid Diethylamide (LSD)
5.3 3,4-MethylEnedioxyMethamphetamine (Ecstasy)
5.4 Phencyclidine
5.5 Gamma Hydroxybutyric Acid (GHB)
5.6 Etamine
5.7 Ayahuasca
5.8 Salvia
5.9 Psilocybin

6 Global Psychedelic Market, By Drug Type
6.1 Introduction
6.2 Injectable Psychedelic Drugs
6.3 Oral Psychedelic Drugs
6.4 Transdermal Psychedelic Drugs
6.5 Rectal Psychedelic Drugs
6.6 Nasal Psychedelic Drugs

7 Global Psychedelic Market, By Application
7.1 Introduction
7.2 Major Depressive Disorder
7.3 Resistant Depression
7.4 Panic Disorder
7.5 Post-Traumatic Stress Disorder
7.6 Opiate Addiction
7.7 Narcolepsy
7.8 Other Applications

8 Global Psychedelic Market, By End User
8.1 Introduction
8.2 Specialty Clinics
8.3 Hospitals
8.4 Homecare
8.5 Other End Users

9 Global Psychedelic Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 Johnson & Johnson (J&J)
11.2 Enveric Biosciences
11.3 Ceruvia Lifesciences
11.4 Apex Labs
11.5 Numinus Wellness Inc
11.6 Jazz Pharmaceuticals
11.7 Cybin Inc
11.8 Revive Therapeutics
11.9 Psychedelic Water
11.10 PharmaTher Holdings Limited
11.11 MindMed
11.12 Compass Pathways
11.13 Field Trip Health
11.14 ATAI Life Sciences
11.15 Hikma Pharmaceuticals PLC
11.16 Verrian
11.17 Celon Pharma SA
11.18 NRX Pharmaceuticals
11.19 Rose Hill Company
11.20 Psycheceutical Bioscience Inc

List of Tables
1 Global Psychedelic Market Outlook, By Region (2021-2030) ($MN)
2 Global Psychedelic Market Outlook, By Product (2021-2030) ($MN)
3 Global Psychedelic Market Outlook, By Lysergic Acid Diethylamide (LSD) (2021-2030) ($MN)
4 Global Psychedelic Market Outlook, By 3,4-MethylEnedioxyMethamphetamine (Ecstasy) (2021-2030) ($MN)
5 Global Psychedelic Market Outlook, By Phencyclidine (2021-2030) ($MN)
6 Global Psychedelic Market Outlook, By Gamma Hydroxybutyric Acid (GHB) (2021-2030) ($MN)
7 Global Psychedelic Market Outlook, By Etamine (2021-2030) ($MN)
8 Global Psychedelic Market Outlook, By Ayahuasca (2021-2030) ($MN)
9 Global Psychedelic Market Outlook, By Salvia (2021-2030) ($MN)
10 Global Psychedelic Market Outlook, By Psilocybin (2021-2030) ($MN)
11 Global Psychedelic Market Outlook, By Drug Type (2021-2030) ($MN)
12 Global Psychedelic Market Outlook, By Injectable Psychedelic Drugs (2021-2030) ($MN)
13 Global Psychedelic Market Outlook, By Oral Psychedelic Drugs (2021-2030) ($MN)
14 Global Psychedelic Market Outlook, By Transdermal Psychedelic Drugs (2021-2030) ($MN)
15 Global Psychedelic Market Outlook, By Rectal Psychedelic Drugs (2021-2030) ($MN)
16 Global Psychedelic Market Outlook, By Nasal Psychedelic Drugs (2021-2030) ($MN)
17 Global Psychedelic Market Outlook, By Application (2021-2030) ($MN)
18 Global Psychedelic Market Outlook, By Major Depressive Disorder (2021-2030) ($MN)
19 Global Psychedelic Market Outlook, By Resistant Depression (2021-2030) ($MN)
20 Global Psychedelic Market Outlook, By Panic Disorder (2021-2030) ($MN)
21 Global Psychedelic Market Outlook, By Post-Traumatic Stress Disorder (2021-2030) ($MN)
22 Global Psychedelic Market Outlook, By Opiate Addiction (2021-2030) ($MN)
23 Global Psychedelic Market Outlook, By Narcolepsy (2021-2030) ($MN)
24 Global Psychedelic Market Outlook, By Other Applications (2021-2030) ($MN)
25 Global Psychedelic Market Outlook, By End User (2021-2030) ($MN)
26 Global Psychedelic Market Outlook, By Specialty Clinics (2021-2030) ($MN)
27 Global Psychedelic Market Outlook, By Hospitals (2021-2030) ($MN)
28 Global Psychedelic Market Outlook, By Homecare (2021-2030) ($MN)
29 Global Psychedelic Market Outlook, By Other End Users (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.


Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.