Psychoactive Substances Market Revenue was valued at USD 13.4 Billion in 2024 and is estimated to reach USD 20.1 Billion by 2033, growing at a CAGR of 5.2% from 2026 to 2033.
In 2022, the global psychoactive substances market was valued at approximately USD 120 billion and is projected to reach USD 190 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030. North America held the largest market share, driven by early adoption and legalization of various substances for both medical and recreational use, particularly cannabis in Canada and several U.S. states. Europe also represented a significant portion of the market, with progressive drug policies in countries like the Netherlands and Switzerland contributing to its growth. The Asia Pacific region is anticipated to experience the highest growth rate during the forecast period, with a projected CAGR of 7.2%, fueled by rising disposable incomes, increased awareness of mental health, and gradual acceptance of psychoactive substances in nations such as Australia and New Zealand.The increasing prevalence of mental health disorders globally has led to a heightened demand for psychoactive substances, particularly in the treatment of conditions like depression and anxiety. For instance, the psychedelic drugs segment, which includes substances like ketamine and psilocybin, was valued at USD 752.3 million in 2022 and is projected to reach USD 2,614.1 million by 2032, registering a CAGR of 13.4% from 2023 to 2032. This growth presents significant opportunities for market expansion, especially in regions with evolving regulatory landscapes and increasing investments in mental health infrastructure.
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Zynerba Pharmaceuticals
GW Pharmaceuticals PLC.
Enecta.
Teewinot Life Sciences
GD Pharma
Cape Bouvard Technologies Pty Ltd
AusCann Group Holdings Pty Ltd.
Cannabics Pharmaceuticals Inc.
Alpha-CAT
Tilray
Cyrelian Pty Ltd.
MedReleaf Australia
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Psychoactive Substances Market
Natural Substances
Synthetic Substances
Entheogens
Stimulants
Depressants
Inhalation
Injection
Oral Consumption
Transdermal
Sublingual
Recreational Use
Medical Use
Spiritual Use
Research and Development
Therapeutic Use
Alkaloids
Phenethylamines
Trypamines
Cannabinoids
Other Hallucinogens
Age Groups
Gender
Socioeconomic Status
Occupation
Education Level
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Psychoactive Substances Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Psychoactive Substances Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Psychoactive Substances Market, By Type
6. Global Psychoactive Substances Market, By Application
7. Global Psychoactive Substances Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Psychoactive Substances Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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