The psychedelic Active Pharmaceutical Ingredient (API) Market, currently estimated at $1.6 billion, is expected to rise at a CAGR of 13.2% over the next ten years and be worth $6.1 billion by the end of 2033.
That’s according to Persistence Market Research’s latest study, conducted by a team of experts in management, medicine and engineering.
“Increasing cGMP practices, growth in the pharmaceutical API manufacturing industry and increasing research on the impact of psychedelics on mental health are factors propelling the global market,” stated a Persistence Market Research analyst.
Past research located the worth of the global psychedelic market at $8.31 billion by 2028 and $12 billion by 2029.
The latest API report noted:
- LSD APIs held 33.7% market share by product in 2022.
- Novel synthetic compounds accounted for 42.2% share of the global psychedelic API market in 2022.
- Synthetic sources held a share of 54.0% in the global market in 2022.
- GMP-grade production held a market share of 97.8% in 2022.
- By application, the research segment held a market share of 87.0% in 2022.
- Around 33.3% of the global market share, by region, was accounted for by North America in 2022.
The study also presents a historical demand assessment of the period 2017-2022 and projections for the next ten years, through sections including products (API-grade psilocybin, DMT, LSD, MDMA, and ketamine), the API compound (active plant components, novel synthetic compounds, metabolites, isotopically labeled standards), source (natural, synthetic, bio-synthetic), grade (GMP, non-GMP), application (clinical, research), and considers key geographical regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East and Africa). (Full Story)