The global psychedelic drugs market is set to skyrocket, reaching $10.2 billion by 2028, driven by increasing awareness of mental health needs, progressive regulatory changes, and the medical community’s growing acceptance of psychedelics for therapeutic applications. This article explores the key drivers, trends, and opportunities shaping this rapidly evolving industry.
The global market for psychedelic drugs is projected to experience significant growth in the coming years, driven by the increasing recognition of their therapeutic potential for mental health conditions. The market is attracting investment and research, with companies developing innovative therapies using substances like ketamine, psilocybin, and MDMA. However, regulatory hurdles and ethical concerns remain significant challenges.
Despite an order from Vancouver’s chief licensing inspector, the Magic Mushroom Dispensary remains operational, with its founder, Dana Larsen, vowing to keep the business running. The city’s ongoing battle with the dispensary over the sale of psychedelic drugs has taken a new turn, with the inspector refusing to reissue its business license despite a successful appeal in May 2023. Larsen and his lawyer argue that the decision is illegal and plan to request a judicial review.
Great British Bake Off star Sue Perkins has shared a cautionary tale about her experience with psychedelic drugs after a mix-up on This Morning. During an interview on the ITV show, Perkins and host Cat Deeley discussed her travels in Alaska. However, a mix-up in pronunciation led to Deeley mentioning the psychedelic drug Ayahuasca instead of Alaska. This prompted Perkins to issue a warning to viewers, saying, ‘Don’t do it kids.’ Perkins went on to describe her adventures in Alaska, including a violent encounter with a baby moose that almost dislocated her shoulder. She also reflected on the privilege of visiting remote and largely untouched areas on Earth. The interview highlighted the potential for misunderstandings and miscommunications when discussing sensitive or complex topics, particularly when pronunciations are similar.
