Once considered the realm of ancient civilizations and countercultures, psychedelics have in the past few years been seeing increasing interest

Psychedelic medicines are seeing a surge in popularity in large part because of reports that they provide significant improvements in depressive and anxious symptoms coupled with increased emotional well-being, and they could help an unmet medical need for a lot of psychiatric illnesses.

These benefits are fueling the growth of the global psychedelic drugs market. Data Bridge Market Research projects that the market will grow with a compound annual growth rate (CAGR) of 13.3% from 2022 to 2029. The market is expected to reach over $6.4 billion in revenues by 2029 from $2.38 billion in 2021.

While the industry may have seen some growth and advancement thanks to players like Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), Seelos Therapeutics Inc. (NASDAQ: SEEL) and COMPASS Pathways PLC (NASDAQ: CMPS), Mindset Pharma Inc. (CNSX: MSET) could be pulling ahead of the pack in the development of next-generation psychedelic drugs.

Psychedelic Medicines For Unmet Needs

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