Global Psychedelic Drugs Market Expected To Reach $10.2B By 2028 Amid Growing Mental Health Crises
The global psychedelic drugs market is set for rapid expansion, with projections forecasting growth from $4.88 billion in 2023 to $10.2 billion by 2028, according to The Business Research Company. With a compound annual growth rate of 16.1%, this rise is largely driven by increased awareness of mental health needs, progressive regulatory shifts and the medical community’s growing acceptance of psychedelics for therapeutic applications.
Key Market Drivers: Mental Health Awareness And Regulatory Changes
The surge in mental health disorders, including treatment-resistant depression and PTSD, is fueling demand for alternative treatments like psychedelics. “Psychedelic drugs are utilized for …