Psychedelics have been enjoying increased media attention in recent years due to their therapeutic potential. Research and clinical studies on the applications of hallucinogenic drugs has revealed that they are capable of treating the symptoms of mental health conditions such as major depressive disorder, anxiety and post-traumatic stress disorder.
Amid this influx of scientific literature, lawmakers in several state and local governments have been working on measures to legalize psychedelic use for medical purposes.
Like America’s state-legal marijuana sector, psychedelics are going through a renaissance that has allowed the substances to slowly emerge from prohibition as a potential treatment for a variety of ailments. Similarly, we can expect the nascent psychedelic industry to experience explosive growth once states begin launching medical psychedelic industries. Investors looking to diversify their portfolios should consider jumping into the sector before the psychedelic boom occurs.
Psilocybin, for starters, would be a good investment owing to its numerous potential applications. Numerous John Hopkins studies have found that psilocybin, the main hallucinogenic ingredient in magic mushrooms, can help fight alcohol and nicotine dependence, and reduce depression and anxiety levels in people with severe cancer diagnoses.
In fact, the psychedelic’s anti-anxiety and depression effects were found to be four times greater than traditional antidepressants and gave some patients relief for up to a year.
Another study from Imperial College London found that psilocybin is faster acting and more effective against depression than Lexapro.
Although the science clearly shows that psychedelics have strong therapeutic potential against both physical and mental disorders, it may take a while for the legal landscape to catch up.
Washington, DC, and Oregon have already decriminalized psychedelic possession and several other states, including California, Vermont and Michigan, are looking to follow suit.
Given that psychedelics have exhibited profound results with none of the side effects associated with traditional mental health treatments, plenty of people will likely turn to psychedelic-assisted therapies. An estimated 50 million American adults reported experiencing a mental illness in 2019–2020. Furthermore, the majority of the more than 45 million Americans who have a substance use disorder currently are not receiving treatment.
Psychedelic-assisted therapy presents a superior method of treatment that comes with a lot less risk and more benefits.
Last year, Data Bridge Market Research forecasted that the global psychedelics market would grow from $2.3 billion in 2021 to $6.4 billion by 2029. Adding psychedelic stock to your portfolio, especially now that the industry is still in its infancy and has plenty of room for growth, could prove to be a smart move.
Before adding any stocks to your investment portfolio, do your homework on as many companies such as atai Life Sciences N.V. (NASDAQ: ATAI) as possible and know what you are getting into before committing any money.
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