BRIEF—Analyst forecasts strong growth in psychedelics

Industry analyst Future Market Insights has forecast that the global market for psychedelic medicines, which it estimates to be currently worth $3.1 billion, will be worth over $14 billion by 2033.

The group attributes the growth to factors such as “increasing awareness of potential therapeutic benefits of psychedelics,” as well as “growing prevalence of mental health conditions.”

In addition, the regulatory environment for psychedelic drugs is said to be “evolving rapidly,” with legislative changes permitting more research in this area, including in the USA.

North America and Europe are expected to dominate the global psychedelic medicine market, owing to higher levels of adoption, while the Asia-Pacific region is also expected to experience significant growth.