Psychedelics Could Transform $2.5 Trillion Mental Health Market

January 11, 2021, By smallcapfirm,

Psychedelics could soon disrupt the $2.5 trillion mental health market.  All as clinical studies begin to uncover its benefits in treating obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism, eating disorders, depression and anxiety. We’re also just beginning to see broader support in the U.S. In fact, over the last few months, Denver, Oakland, and Santa Cruz have legalized the use of psilocybin.  In addition, according to Data Bridge Market Research, the North American psychedelics market could grow at a CAGR of 15.8% to $6.8 billion over the next seven years.

The research firm added, “The increasing acceptance of psychedelic drugs for the treatment of depression throughout the United States is one of the major reasons for the rising demand for psychedelic drugs. The Department of Neuroscience, Faculty of Medicine, Norwegian Trondheim, University of Norway, University of Science and Technology have reported that more than 3 million people are using psychedelic drugs in the United States. Due to these factors, the market is expected to grow at the significant growth rate in the forecast period of 2020 to 2027.”

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