Psychedelic Drugs Market Projects Significant Growth Through 2029

LOS ANGELES- The global psychedelic drugs market is projected to experience substantial growth, with estimates indicating an increase from $6.39 billion in 2025 to $11.93 billion by 2029, reflecting a compound annual growth rate (CAGR) of 16.9% during this period.

This expansion is attributed to several factors, including a rise in mental health disorders, evolving regulatory frameworks, and increased acceptance of psychedelic substances in therapeutic settings. Government initiatives aimed at addressing mental health challenges have also played a role in fostering research and development in this sector.

Key substances contributing to market growth include ketamine, gamma-hydroxybutyric acid (GHB), methylenedioxymethamphetamine (MDMA), and psilocybin. These compounds are being investigated for their potential in treating conditions such as depression, post-traumatic stress disorder (PTSD), and substance use disorders.

North America currently holds the largest market share, while the Asia-Pacific region is anticipated to exhibit the fastest growth rate through 2029.

Major companies operating in this market include Atai Life Sciences, Cybin Inc., Mind Medicine Inc., Compass Pathways, and Seelos Therapeutics. These organizations are focusing on developing innovative treatments and expanding their therapeutic applications.