The psychedelic therapeutics pipeline is growing at a substantial pace, given the extensive R&D activity in this domain. The field has witnessed a steady increase in the number of trials registered per year, representing a CAGR of 20% from 2010 to 2019. This can be attributed to the continuous increase in the initiatives being taken by several industry players that are actively evaluating the therapeutic effectiveness of different types of psychedelic substances for a wide range of indications, such as (in alphabetical order) anxiety and depression, substance use disorder, sleep related disorder and trauma,. Overall, 71 trials have been registered till May 2020. It is worth mentioning that, in 2019 alone, 10 new trials were started / planned to initiate, across the globe.
Psychedelic Industry : Over time, it have been demonstrated that psychedelic substances interact with a variety of neurotransmitter pathways, including those of serotonin, acetylcholine, norepinephrine, and dopamine, among several others. In fact, there is evidence that an imbalance in the levels of serotonin in the brain, causes depression. Similarly, the aforementioned biomolecules have been associated with a plethora of neurological conditions.
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Additionally, it is worth mentioning that majority of the registered clinical trials (48%) that were / are being conducted to evaluate the therapeutic potential of psychedelic therapeutics are phase II studies and around 30% (of the total number of patients enrolled) patients are enrolled in these trials. Further, despite the fact that only 19% of the clinical trials are phase III, close to 55% patients are enrolled in such trials.
Global Psychedelic Therapeutics Market : The “Global Psychedelic Therapeutics Market, 2020-2030” report features an extensive study of the current market landscape, offering an informed opinion on the likely adoption of psychedelic therapeutics, over the next decade. The report features an in-depth analysis, highlighting the diverse capabilities of stakeholders engaged in this domain.
Multidisciplinary Association for Psychedelic Studies has been involved in conducting the maximum number of clinical trials (24) related to psychedelic therapeutics, which enrolled around 800 subjects. It is worth highlighting that majority of these trials are evaluating MDMA for anxiety and post-traumatic stress disorder. Further, Jazz Pharmaceutical has been involved in conducting 18 clinical trials in the given time period. This is followed by iX Biopharma, University Hospital, NeuroRx and Target Health that have sponsored more than three clinical trials, each.
Psychedelic market size : One of the key objectives of the report was to estimate the existing market size and the future opportunity for psychedelic therapeutics, over the next decade.
As the number of players involved in the development of psychedelic therapeutics continue to increase, recent years have witnessed several partnerships and collaborations being established between various stakeholders involved in this domain; the maximum number of partnerships (30) were recorded in 2020. It is worth highlighting that, of the total deals signed in 2020, majority (11) were mergers and acquisitions, followed by clinical trial agreements (3), joint venture agreements (3), licensing agreements (3), research agreements (3), and research and development agreements (3). Further, majority (6) of the collaborations inked in 2019 were mergers and acquisition, followed by joint venture agreements (2).
Majority (18) of the partnerships signed in this domain were mergers and acquisitions; recent examples include (in reverse chronological order) acquisition of Alphamind Brands by Hollister Biosciences (April 2020), Mydecine Group by NewLeaf Brands (April 2020), Wellness Clinic by Champignon Brands(May 2020) and Tassili Life Sciences by Champignon Brands (March 2020). Further, it is worth mentioning that, in early 2020, several companies have established joint ventures in collaboration with other industry players. For instance, ATAI Life Sciences and DemeRx signed an agreement to form a joint venture with an aim to develop ibogaine as a therapy for opioid use disorder.
The maximum number of deal (77%) are intracontinental agreements, whereas intercontinental deals account for 23% deals. Moreover, it is worth mentioning that of all the deals signed by companies headquartered in North America, majority (85%) were inked with companies based in the same region. Further, 15% of the deals signed by companies based in North America were with players headquartered in China, India, Israel, Netherlands and Switzerland. The surge in the partnering activity specifically in the last two years demonstrates the growing awareness of the therapeutic potential of psychedelic substances for treatment of various neurological and substance use disorders.
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Psychedelic drugs market : In fact, the US reported a sharp increase (~20%) in number of prescriptions for antidepressants and anti-anxiety drugs during the global lockdown enforced to curb the spread of COVID-19.
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