Europe Psychoactive Substances Market was valued at USD 30 Billion in 2022 and is projected to reach USD 50 Billion by 2030, growing at a CAGR of 6.9% from 2024 to 2030.
The Europe Psychoactive Substances Market is witnessing a rapid transformation as industries are increasingly leaning towards the development and usage of synthetic drugs, novel psychoactive substances (NPS), and their derivatives. These substances are being sought after in various sectors, including healthcare, recreational use, and research, as the need for innovative psychoactive substances continues to rise. This market is expected to see substantial growth in the coming years, driven by both demand from the medical field and the growing popularity of alternative lifestyle choices.
The demand for psychoactive substances in Europe can be attributed to the growing prevalence of mental health issues, an increased focus on pain management, and the need for cognitive enhancement. The healthcare industry is one of the largest consumers of these substances, using them for medical treatments such as anxiety, depression, and pain management therapies. These substances are also being investigated for their potential to treat neurological disorders, which is opening up new avenues for market expansion.
Industries involved in this market include pharmaceuticals, research institutions, and even recreational sectors, each with distinct requirements and regulations. The pharmaceutical industry requires high-purity substances for clinical trials, while research institutions demand various substances for scientific experiments and studies. The recreational use sector, on the other hand, is driven by the demand for legal highs and alternatives to traditional recreational drugs, which are subject to stricter regulations in many European countries.
Another significant driver of the market is the growing interest in the psychoactive properties of these substances. The public's increased awareness of the mental and emotional benefits these substances can offer is fostering an environment where demand is only expected to rise. Moreover, with advancements in biotechnology and synthetic drug creation, new psychoactive substances are entering the market regularly, making it a dynamic and competitive sector.
As in many other industries, the need for regulation and safety standards is essential. The Europe Psychoactive Substances Market faces challenges related to the legal status of these substances, which varies from country to country. However, the market continues to flourish as demand grows across different industries.
Despite the increasing demand, the market's complexity cannot be overlooked. The introduction of substances like the "100 Gigabit Fiber Optic Transceiver Market Type and requirement from industries" has further complicated the landscape, as industries seek to balance growth with regulation, innovation, and safety.
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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
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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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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 Europe 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 Europe 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. Europe Psychoactive Substances Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Psychoactive Substances Market, By Type
6. Europe Psychoactive Substances Market, By Application
7. Europe Psychoactive Substances Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Psychoactive Substances Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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