Just like the marijuana that came before it, the psychedelic drugs which were once considered to be illicit are now going mainstream and can be found in magic mushroom dispensary. Although the substances, the chemical compounds, and their effects at their core are known to be quite different, the psychedelics the psilocybin’s specifically have followed a trail which is blazed by the marijuana to the mainstream acceptance.
The market of the psychedelic just took a big step in the legitimacy in the eye of the corporate America. The Compass Pathway a UK-based pharmaceutical became the first company for the psychedelic to breaking into the markets of US. It is news which a big step to the legalizing of the marketplace of the legal psychedelic which is forecasted to the about $6.9 billion business by the year 2027.
Other psychedelics are not far. The HAVN Life the biotech company which creates both the retail and lab products did go live in the Frankfurt stock exchange. The Toronto based MindMed became the first traded publicly psychedelic company.
The momentum which is upward suggests the same pattern which can be able to be seen upon the move towards the cannabis legitimatization years ago as the companies such as Aurora Cannabis, Tilray, and Canopy Growth got into the marketplace.
At that point, the psychedelics and marijuana both have been accepted by the majority in the medical community with options for a robust treatment for the patients. Majority tend to agree that the cannabis offer a number of benefits which are positive such as the anti-inflammatory properties while the psychedelics like the psilocybin are increasingly being utilized on treating severe depression for drug-resistance.
The food and drug administration in 2018 first granted the compass pathway as a breakthrough therapy status accelerating the clinical study process, studying psilocybin particularly for parents who happen to be struggling with serious depression disorders.
From that time, the FDA has accepted the drug, giving it the same designation to large companies like the Johnson & Johnson, Compass, but at the same time, smaller competitors like Numinus Wellness and Mind Medicine.
This treatment’s rise options come alongside some news which is sobering from the Centers for Disease control. As per the recent survey, one adult out of four ages 18 years to 24 years considered to commit suicide while 10 percent of adults on the overall reported they had suicidal ideation.
There is however a battle which is an uphill when it comes to the recreational markets. It seems as if there is no robust path when it comes to the psychedelics. There is less of a recreational market which is diversified for the psychedelics as there is for the cannabis as it is utilized in most of the consumer products. At the same time, there are a variety of companies which are launching psychedelic tinged products which they hope that they are going to appeal to the market.