We have seen the psychedelic industry grow significantly the last few years as investing companies pour more money into the burgeoning space and organizations respond to the global mental disorder epidemic. A Lancet study found that the worldwide pandemic has impacted individuals’ mental health significantly, with data showing that more than 75 million instances of anxiety disorders and more than 53 million additional major depressive disorder cases have been recorded.
In the United States, the psychedelics industry is advancing rapidly after states such as California, Texas, New Jersey, Connecticut, Missouri and Utah made strides to legalize or decriminalize psychedelic drugs. Recently released figures also show that by 2029, the psychedelics market in America may be valued at more than $9 billion. This opportunity for growth has given rise to psychedelic-related M&A’s that involve research and media organizations as well as various start-ups.
For instance, Blackhawk Growth recently announced that it had entered into an agreement to acquire a controlling stake of MindBio Therapeutics. MindBio Therapeutics is a clinical-stage, drug-development company that pioneers psychedelic microdosing research and explores new therapies for use in treating mental health conditions, including PTSD, anxiety and depression.
Blackhawk CEO Frederick Pels stated that this share purchase acquisition enables the company to scale its psychedelic and life science portfolio while allowing both companies to become leaders in the psychedelic therapy industry, which they believe will continue growing significantly.
As interest in the potential use of psychedelics for treating mental conditions grows and more companies work to control and harness the abilities of these drugs, the focus on mental health creates an even bigger addressable market. Companies such as Compass Pathways PLC (NASDAQ: CMPS) have made significant strides in the space, having recently concluded a double-blind psilocybin trial for its use in the treatment of depression.
Members of the psychedelic community, activists and researchers also continue to call for new and innovative business strategies that support the creation of a healthcare industry and address the inadequacies of conventional mental healthcare approaches. It is expected that in the short term, inefficiency within the healthcare industry and taxing regulatory processes will impede the growth of the psychedelics market. Additionally, scarcity in funding, lengthy medical trials and ingrained stigma may also test the space’s resilience.
However, those involved in this market with limitless potential may, in the long term, reap significant rewards. Though there are risks in the psychedelics investment landscape, experts urge those interested in long-term investment to exercise patience and carry out their own analytical research.
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