The psychedelics industry, which is ancillary to the marijuana market, continues to enter the medical mainstream. An increasing number of scientific researchers and publicly traded companies are pursuing psychedelics as a valuable medicine and a recreational outlet. Proactive investors stand to make big gains.
In the U.S., psychedelics such as psilocybin (the psychoactive ingredient in magic mushrooms) and LSD remain illegal at the federal level as Schedule I substances, but state laws are rapidly changing to lift these restrictions. What’s more, regulatory agencies are giving researchers and drug developers easier access to psychedelics. The taboos are falling by the wayside.
According to a recent report by the Business Research Company, the global psychedelics market will reach $8.3 billion in 2027, for a compound annual growth rate between 2024 and 2027 of 14.4%. The biggest driver of growth will be the increase in cases of chronic mental illnesses that are untreatable by conventional drugs. Depression is a worldwide scourge and psychedelics could hold the key to alleviating the suffering.
Many marijuana companies are making major investments in psychedelic substances, to get ahead of the curve as psilocybin, LSD, and several substances transition from illicit activities to profitable ventures.
Big Pharma is getting into the act, knowing that big money is at stake. Many major pharmaceutical firms are plowing considerable research and development into psychedelics because they recognize that these drugs are the future for treating chronic depression, anxiety, physical pain, emotional trauma, and a host of ailments.
Source: https://www.investingdaily.com/117925/video-breaking-taboos-building-portfolios-with-psychedelics/
