Hallucinogens such as psilocybin, ketamine, LSD, and MDMA have recently been discussed for their potential to treat mental health disorders.
Global sales of antidepressants are expected to exceed $20 billion by 2030. Now, some investors are betting that psychedelic therapy can grab a share of that huge market.
Substances such as psilocybin, ketamine, LSD and MDMA remain illegal in most of the world due to their extraordinary properties.
This may help explain why the market is showing strong skepticism of the industry. A CNBC survey of his seven US-traded psychedelic stocks found that most of them were closer to his 52-week low than his 52-week high as of mid-February. Some were as low as 80% or more.
But startups investing in new industries stand by drugs.
“Psychedelic healthcare is a very exciting field as it is the pinnacle of drugs, clinics and experimental treatments,” says psychedelic companies such as Atai Life Sciences and Compass Pathways.
With more interest from the medical community and investors, what’s next for the psychedelic therapy market? Watch the video above to find out.
