PSYCH, the premium business-to-business media and content platform for the psychedelic science and healthcare industry, today announced the release of the third issue of its flagship publication, The Psychedelics as Medicine Report.
The Psychedelics as Medicine Report is the most comprehensive account of the global psychedelics industry, with unparalleled market intelligence and insights empowering investors, operators, researchers and regulators to identify emerging opportunities. The report reveals the medical psychedelic market is currently valued at US$190 million, and is expected to exceed US$2.4 billion by 2026.
Attitudes towards psychedelics are shifting dramatically, with two-thirds of Europeans and North Americans supporting the legalization of psychedelic-assisted therapy. Eighty per cent of doctors are familiar with psychedelic research surrounding mental health disorders, with the majority of healthcare providers excited by the prospect of psychedelics as medicines.
As a result of the transformative potential of these novel therapies, psychedelic companies have attracted over US$2 billion in investment and been valued at over US$9 billion. More than 47 organizations have listed on stock exchanges internationally, with atai Life Sciences conducting an initial public offering earlier this year and securing a US$2.3 billion valuation.
“For too long, we have been reliant on limited treatment options for patients suffering from mental health disorders, while potentially useful treatment modalities, including psychedelic compounds, have been overlooked or underused,” said Florian Brand, Co-founder and CEO at atai Life Sciences. “Like all those who have contributed to this year’s Psychedelics as Medicine report, we believe that it’s high time patients had access to more innovative treatments.”
To reflect the flourishing industry, the annual report has been expanded to encompass new regulatory frameworks and associated market opportunities. William Potts, CEO at Psych Capital, commented: “The updated report presents an expert overview of the market opportunity that psychedelics as medicine offer. It provides unique insights into consumer and healthcare providers’ attitudes, outlining the compounds poised to disrupt conventional treatments for a wide array of debilitating health.”
PSYCH partnered with atai Life Sciences, Beckley Psytech, Compass Pathways, Braxia Scientific, Novamind, Filament Health, Aird & Berlis LLP and Diamond Therapeutics on this year’s publication. To learn more about the future medical and commercial potential of the psychedelics industry, download The Psychedelics as Medicine report: Third Edition.
A premium business-to-business media and content platform for the psychedelic science and healthcare industry, PSYCH highlights key psychedelic players, innovations and milestones. For more information, please visit the website: https://psych.global/
Visit the original news release here.