Report Contents Jump to any section in the series
- Introduction →
- Definitions And Scope →
- Executive Summary →
- Key Trends →
- Market Value →
- Legislation and Regulation →
- Consumer Attitudes →
- Healthcare Providers’ Attitudes →
- Spotlight On Health →
- Psychedelics – Timeline of Key Developments →
- Countries to Watch →
- Psychedelic Profiles →
- Key Psychedelics Deep Dive →
- Other Psychedelics of Note →
- Psychedelics as Medicine: Potential Therapies →
- Psychedelics and Technology →
- Psychedelics Per Country →
- Psychedelics and The Law →
- Patents and Intellectual Property →
- Therapy Practitioners →
- Psychedelic Research →
- Glossary →
Psychedelics poised to treat many disorders
Mental health and substance use disorders affect more than 900 million people around the globe according to WHO. Somewhat paradoxically, the more affluent countries are the ones who are dealing with the most immense burden. The costs associated with mental health care and the lives lost from substance use disorders are enormous. Making a sizeable dent in this market by improving the mental health of millions is where the opportunity for psychedelics exists.
“Watching my best friend and business partner suffer, being let down by existing treatments and finally finding comfort in psychedelic therapies, was all the inspiration I needed to commit my life to this cause.”
Florian Brand, Co-founder & CEO of atai Life Sciences
Psychedelics are being investigated and explored to treat many significant disorders; from various forms of depression to alcoholism. What sets psychedelics aside from conventional treatments is that a few sessions with a high dose of a psychedelic can usually lead to long-term effects measured in months or years. The upfront costs of psychedelic-assisted therapy (PAT) will need them to be treated differently from current medications which may cost less but are turning out to be ineffective for the majority of patients.
Instead of numbing someone to their circumstances, psychedelics offer the possibility to engender long-lasting changes in behaviour and mental health. Not only will this save money for insurers, hospitals and caretakers, and handsomely reward those who will bring these medicines to market, it will also give back valuable qualitative years of life to those helped by psychedelics.
Therapy will be the name of the game
Therapy is an integral part of how psychedelics lead to improvements. As will be detailed later in this report, psychedelics enable active coping through which patients are able to resolve past trauma or addiction. Psychedelics have also been described as ‘non-specific amplifiers’, enhancing the effectiveness of therapy.
Types of talk therapy which work best for psychedelic and mental health disorders are currently being investigated. Most published studies have used either cognitive behavioural therapy (CBT), acceptance and commitment therapy (ACT) or forms specifically adapted to PAT.
MAPS, COMPASS Pathways, California Institute of Integral Studies (CIIS), MIND Foundation, and many others are currently training therapists to give PAT. The number of qualified therapists, excluding those who provide ketamine, sits at no more than a few hundred. The expectation is that this will scale up to more than 50,000 therapists within the next ten years.
Legislation and regulation moving in the right direction
Six states and six cities in the United States have moved to decriminalise psychedelics; 100 more cities and several states are working on similar legislation. Public opinion favours psychedelics, and legislators are, for the first time in 50 years, loudly speaking out against restrictions on research and the freedom to take psychedelics for recreational use.
Psychedelic research will initially have to complete more phase III trials for approval as medicines. This is expected as early as 2023 for MDMA regarding PTSD and within two years after that for psilocybin regarding treatment-resistant depression (TRD); both designated as breakthrough therapies by the FDA.
If the decriminalisation efforts continue at a similar pace as in the last few years, more than a dozen states are expected to stop the enforcement of laws against psychedelic use.
Patients and doctors are ready for change
More than two-thirds of medical professionals support the easing of restrictions on research barriers. If approved by a governing medical body, six out of ten would like to provide PAT to their patients. Doctors and nurses are ready to accept PAT as an option in their toolbox. Many are closely following the research, with psychiatrists being most aware of recent developments.
Patients are similarly ready for change; two-thirds of the people surveyed strongly supported personal consideration for psychedelic medicine where it is shown to be safe and effective. When presented with information about the level of scientific research conducted, the support numbers increased further.
Psychedelics have moved from the fringes of society to the front page of the New York Times, and it will not be long before they become an accepted treatment for a wide variety of mental health and substance use disorders.
Psychedelics are currently being investigated to treat a wide range of mental health and substance use disorders that affect over 900 million people globally. Key applications include treatments for depression (including treatment-resistant depression), alcoholism, and PTSD. Unlike some conventional medications, psychedelics are being explored for their potential to provide long-term relief rather than just managing symptoms.
The primary difference lies in the mechanism and duration of the effect. While current medications often require daily use and may only “numb” symptoms, Psychedelic-Assisted Therapy (PAT) aims to engender long-lasting behavioural and mental health changes. A few sessions with a high dose of a psychedelic can lead to effects lasting months or years, potentially offering a more cost-effective solution for insurers and hospitals in the long run.
Yes, therapy is considered an integral part of the treatment. Psychedelics act as “non-specific amplifiers” that enhance the effectiveness of therapy, enabling active coping mechanisms to resolve trauma or addiction. Studies often utilise Cognitive Behavioural Therapy (CBT), Acceptance and Commitment Therapy (ACT), or specialised forms of therapy adapted for PAT.
The legal landscape is shifting rapidly. The report notes that six states and six cities have moved to decriminalise psychedelics, with over 100 more cities working on similar legislation. Furthermore, the FDA has designated treatments using MDMA (for PTSD) and psilocybin (for depression) as “breakthrough therapies,” accelerating their path toward approval as medical treatments.
There is growing support within the medical community. Surveys indicate that more than two-thirds of medical professionals support easing restrictions on psychedelic research. Additionally, six out of ten professionals expressed a willingness to provide Psychedelic-Assisted Therapy (PAT) to patients if approved by governing bodies, with psychiatrists being among the most aware of these developments.
