FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Jan. 26, 2023 /PRNewswire/ -- Even during the recent global supply chain problems, certain markets have continued to show growth. The psychedelic drugs markets is one of these continually expanding markets. Psychedelic drug refers to a group of psychoactive drugs that alter perception, mood, and thought processes. All of the senses are affected by psychedelics, which change a person's thinking, perception of time, and emotions. These include chemicals such as Lysergic acid diethylamid (LSD) and plants such as peyote. These medications are used to treat a variety of brain conditions. The various disease indications include depression and PTSD, which could be natural or synthetic. The numerous applications include treatment-resistant depression, opiate addiction, post-traumatic stress disorder, narcolepsy, and panic disorders, and are distributed through various channels such as hospital pharmacies, retail pharmacies, and online pharmacies.  A recent report from The Business Research Company projected that the global psychedelic drugs market size grew from $4.2 billion in 2022 to $4.83 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%. The psychedelic drugs market size is expected to grow to $8.31 billion in 2027 at a CAGR of 14.5%. The psychedelic drug market consists of sales of psilocybin, PCP, amongst other offerings.  Active companies in the markets this week include: Lobe Sciences Ltd. (OTCQB: LOBEF) (CSE: LOBE), atai Life Sciences N.V. (NASDAQ: ATAI), COMPASS Pathways plc (NASDAQ: CMPS), Cybin Inc. (NYSE: CYBN) (NEO:CYBN), Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (NEO: MMED).