The psychedelics industry has grown tremendously these last few years, offering new opportunities for investors interested in this space. The potential for the substance to revolutionize the field of medicine has prompted a significant increase in the capital being injected into the multibillion dollar industry, which has facilitated further development. Below is an overview of the major sectors making up this industry.
R&D and Clinical Trials
This refers to clinical and/or research and development trials that involve psychedelic substances. Currently, there are more than 12 companies conducting phase 2 clinical trials on psychedelic drug candidates and a nonprofit called MAPS doing a phase 3 trial.
Nutraceuticals and Other Consumer Packaged Goods
This industry’s consumer packaged goods segment has a lot of potential to grow as awareness of psychedelic substances in the treatment of physical and mental illnesses grows. This is why it’s not surprising to find so many psychedelics firms involved in the functional mushroom market.
Telemedicine and Industry Tech
This involves software and telehealth development. Various major psychedelic companies are focusing on digital therapeutics, which is helping carve out a new path for the burgeoning industry. For instance, telehealth company Mindleap has designed a platform that connects mental health professionals with patients who are in need of psychedelic-based therapy.
Drug Delivery Methods
Most companies involved in this segment have provisional patent applications filed for novel drug-delivery techniques for psychedelic therapies. These include nasal sprays, oral strips and hard-shell capsules, among other methods. A few years ago, the FDA approved an esketamine nasal spray by the name Spravato, for the treatment of depression in adults.
Microdosing and Adult Use
This involves the recreational use of legal psychedelic substances. Companies such as PharmaDrug are finding ways to use psychedelic fungi, including magic truffles to their advantage.
Retreats and Clinics
This refers to the delivery of psychedelic therapies through retreats and clinics. Regulated psychedelic therapies have been increasing in popularity internationally through psilocybin retreats and ketamine clinics. Companies involved in this space are findings ways to increase access and enhance the effectiveness of these programs, which currently aren’t easily accessible.
Manufacture and Supply
This refers to the growing, synthesis and production of psychedelic substances. This segment is made up of companies in the industry that operate growing facilities or are involved in the manufacture of synthetic psychedelic drugs. Companies operating in this space believe that their approach will yield consistent pharmaceutical-grade products at lower costs than the current extraction methods.
The foregoing analysis is proof that not all psychedelics companies are into drug development as exemplified by Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF). Other companies in other segments could open up decent investment opportunities in addition to the drug-development organizations.
NOTE TO INVESTORS: The latest news and updates relating to Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) are available in the company’s newsroom at https://ibn.fm/MYCOF
About PsychedelicNewsWire
PsychedelicNewsWire (PNW) is a specialized content distribution company that (1) aggregates and distributes news and information on the latest developments in all aspects and advances of psychedelics and their use, (2) creates PsychedelicNewsBreaks designed to quickly update investors on important industry news, (3) leverages a team of expert editors to enhance press releases for maximum impact, (4) assists companies with the management and optimization of social media across a range of platforms, and (5) delivers unparalleled corporate communication solutions. PNW stays abreast of the latest information and has established a reputation as the go to source for coverage of psychedelics, therapeutics and emerging market opportunities. Our team of seasoned journalists has a proven track record of helping both public and private companies gain traction with a wide audience of investors, consumers, media outlets and the general public by leveraging our expansive dissemination network of more than 5,000 key syndication outlets. PNW is committed to delivering improved visibility and brand recognition to companies operating in the emerging markets of psychedelics.
To receive instant SMS alerts, text “Groovy” to 888-902-4192 (U.S. Mobile Phones Only)
For more information please visit https://www.psychedelicnewswire.com
Please see full terms of use and disclaimers on the PsychedelicNewsWire website applicable to all content provided by PNW, wherever published or re-published: https://www.psychedelicnewswire.com/Disclaimer
Do you have questions or are you interested in working with PNW? Ask our Editor
PsychedelicNewsWire (PNW)
San Francisco, California
www.psychedelicnewswire.com
415.949.5050 Office
Editor@PsychedelicWire.com
PsychedelicNewsWire is part of the InvestorBrandNetwork.
