Till date, nearly 150 types of psychedelic therapeutics have been identified and there is a growing body of evidence supporting the benefits of this class of compounds in offering relief to individuals suffering from a wide variety of chronic health conditions
Roots Analysis has announced the addition of “Global Psychedelic Therapeutics Market, 2020-2030” report to its list of offerings.
Psychedelic substances have been demonstrated to interact with a variety of neurotransmitter pathways, including those involving serotonin, acetylcholine, norepinephrine, and dopamine. Currently, several stakeholders in the pharmaceutical industry are actively engaged in the efforts to develop leads based on natural and synthetic derivatives of psychedelic substances. Further, experts believe that psychedelics, at appropriate doses, can be used to address some of the serious psychological implications associated with the COVID-19 pandemic.
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Nearly 150 psychedelic therapeutics are currently approved / under development
Over 70% of the aforementioned candidates are in preclinical and discovery stages, followed by more than 15% molecules that are being evaluated in late clinical stages (phase II and above). Moreover, majority of the pipeline drugs are based on psilocybin (36%), followed by those using ketamine (20%) and LSD (8%).
Close to 70 companies claim to be engaged in the development of psychedelic therapeutics
Post 2010, a significant rise in the number of companies working in this domain has been observed. Majority of the firms engaged in this domain (71%) are based in North America, followed by those headquartered in Europe (23%) and Asia Pacific (6%).
Over 70 clinical trials have been registered for the assessment of psychedelic therapeutics, globally
It is worth mentioning that most of the aforementioned trials were / are being conducted in North America (58%); further, more than 50% of the total patients were enrolled in trials based in the aforementioned region. This was followed by studies being conducted in Europe (28%) and Asia Pacific (14%).
Partnership activity within this domain has grown significantly between 2017 and 2020
The maximum number of partnerships for psychedelic therapeutics were signed in 2020. Further, mergers and acquisitions (42%) emerged as the most popular type of partnership model adopted in this domain; in such instances, portfolio expansion was observed to be the most prominent value driver. This was followed by clinical trial agreements (10%), joint ventures (9%), licencing deals (7%) and research agreements (7%).
Close to 545 grants have been awarded to support research on psychedelic therapeutics, since 2015
It is worth highlighting that, across 295 instances, USD 110 million was awarded in the form of grants to research projects focused on psychedelic therapeutics. Further, almost 35% of the total amount awarded in the form of grants was sanctioned under the R01 (in support of health-related research and development based on the mission of the NIH) mechanism.
At present, therapies targeting sleep-related disorders represent over 90% of the market share (in terms of sales revenue)
Therapies intended for the treatment of depression and anxiety disorders capture a share of over 5% within this market. In the foreseen future, therapies targeting the aforementioned disorders are anticipated to capture the highest market share (67%), in terms of revenues generated from product sales.
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The over USD 6.5 billion (by 2030) financial opportunity within the psychedelic therapeutics market has been analyzed across the following segments:
The report features inputs from eminent industry stakeholders, according to whom, psychedelics have a tremendous potential and, eventually, they will gain more attention from the established pharmaceutical players in the coming decade. The report includes detailed transcripts of the discussions held with industry experts.
The research includes detailed profiles of key players (listed below); each profile features an overview of the company, its financial information (if available), drug portfolio, recent developments and an informed future outlook.
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https://www.rootsanalysis.com/reports/global-psychedelic-therapeutics-market.html
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Contact:
Gaurav Chaudhary
+1 (415) 800 3415
+44 (122) 391 1091
Gaurav.Chaudhary@rootsanalysis.com
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