Global Psychoactive Drug Market was valued at US$ XX million in 2018 and is expected to reach US$ XX million by 2026 at a CAGR of xx% over forecast period 2019-2026.
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A psychoactive drugs changes brain function and results in alterations in perception, mood, behaviour, consciousness and cognition. These substances are be used medically, recreationally, to purposefully improve performance or alter one’s consciousness entheogens for ritual, spiritual, shamanic purpose or for research.
The global psychoactive drug market is mainly driven by, Rise in RD expenditure, increased prevalence of diseases across the globe, increased geriatric population, rise in awareness regarding various diseases in developing countries, and rich pipeline of innovative treatment options are some factors that are expected to boost the global psychoactive drugs market during the forecast period.
Moreover, increasing research and development activities in disease modifying drugs and surge in investment by key players in the clinical studies of advanced treatment options are expected to propel the global psychoactive drugs market over the forecast period.
Psychoactive drugs misuse, dependence and addiction have resulted in legal measures and moral debate. Governmental controls on manufacture, supply and prescription attempt to reduce problematic medical drug use. Ethical Concerns have also been raised about over-use of these drugs clinically, and about their marketing by manufacturers.
Stringent government regulations, high cost of advanced treatments and severe side-effects associated with certain injectable treatments are expected to hamper the psychoactive drugs market.
Global Psychoactive Drug Market is segmented by type, by application and by region. By type market is segmented into stimulants, depressants, narcotics, hallucinogens, cannabis and others. Stimulate segment is expected to exhibit highest global market share at a CAGR of XX% over forecast period. Stimulants range from nicotine and caffeine to cocaine and crystal meth. Stimulants block the reuptake or reabsorption of neurotransmitters like serotonin and dopamine, which can lead to increased energy, panic and anxiety.
By geography, the global psychoactive drugs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. North America dominates the global psychoactive drugs market owing to the low cost of manufacturing, acceptable regulatory scenario and presence of major players in the region.
Moreover, the market in Asia Pacific is projected to grow at a significantly high CAGR during the forecast period, owing to improving health care infrastructure, rising investments in research and development and increasing disposable income in countries such as China and India, and Japan.
Key players operating in global psychoactive drug market are Abbott Laboratories (U.S.), Sanofi S.A. (France), Cipla Limited (India), and Biocon Limited (India), Intas Pharmaceuticals Ltd. (India), Sun Pharmaceutical Industries Ltd. (India), Cadila Pharmaceuticals (India), Lupin Limited (India), Emcure Pharmaceuticals Ltd. (India), Novartis International AG (Switzerland), Dr. Reddy’s Laboratories Limited (India), and Alkem Laboratories Limited (India). These Drug companies discovered a way to synthesize medications rather than having to rely on extracts from natural products.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global psychoactive drug market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment shortly to the emerging segment in the global psychoactive drug market.
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Global Psychoactive Drug Market by Types
• Others (Inhalants, sports drugs, psychiatric medications, compulsive behaviours)
Global Psychoactive Drug Market by Application
• Pain management
• Mental disorders
• Ritual and spiritual
Global Psychoactive Drug Market by Region
• North America
• MEA Africa
• Latin America
Global Psychoactive Drug Market Major players
• Abbott Laboratories (U.S.)
• Sanofi S.A. (France)
• Cipla Limited (India)
• Biocon Limited (India)
• Intas Pharmaceuticals Ltd. (India)
• Sun Pharmaceutical Industries Ltd. (India)
• Cadila Pharmaceuticals (India)
• Lupin Limited (India)
• Emcure Pharmaceuticals Ltd. (India)
• Novartis International AG (Switzerland)
• Dr. Reddy’s Laboratories Limited (India)
• Alkem Laboratories Limited (India)
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