Psychedelics · 17 March 2020 · 2 min read
Prohibition Partners Releases PSYCH: The Psychedelics as Medicine Report
In an industry-first, the report profiles most major psychedelic substances — both naturally derived entheogens and synthetically manufactured psychedelics — and outlines the current state of worldwide regulatory frameworks, clinical trials, and commercial opportunities…
Stephen Murphy
In an industry-first, the report profiles most major psychedelic substances — both naturally derived entheogens and synthetically manufactured psychedelics — and outlines the current state of worldwide regulatory frameworks, clinical trials, and commercial opportunities associated with these compounds.
Key insights from the report include:
- While cannabis has already paved much of the way for psychedelics in terms of legal progress and changing public perception, psychedelics as medicines are already backed by a more powerful knowledge base comparatively.
- North America is home to 118 active, or soon-to-be active, clinical trials focused on the therapeutic potential of psychedelic substances. Europe is the second most promising region for psychedelics research, with 24 active clinical trials.
- Psychedelics are set to become the next major innovation for treating several high-prevalence mental health problems, such as MDMA for PTSD and psilocybin for treatment-resistant depression (TRD), which together affect upwards of 350 million people worldwide.
- Some psychedelics are already in common use as therapeutic medicines, with others recently being awarded ‘breakthrough therapy’ status by the US FDA.
During the launch, Prohibition Partners’ Managing Director Stephen Murphy, said:
“Before being adopted by the ‘hippie’ counterculture movement of the 1960s, psychedelic substances were already being seriously investigated by the medical community as a breakthrough treatment for neuroses and addiction. What we are seeing now is a resurgence of that medical interest and it’s rapidly changing how we view modern healthcare.”
“The volume of medical research has already eclipsed that of medical cannabis. Some psychedelics are used already in standard medical treatments — for example, ketamine has been available as a general anaesthetic for decades.”
“In this report, we present a comprehensive overview of the long history of psychedelics for medicinal use and offer an analysis of the field’s future. As an industry in its infancy, growth is inevitable. But while there will undoubtedly be opportunity for investment, the focus of the industry must remain on the benefits that these substances could bring to a rapidly growing patient base, and the creation of a fully regulated field of medicine that is trusted and sustainable for the future.”
To learn more about psychedelics as medicine, and the future medical and commercial potential of the field, download your free copy of PSYCH: The Psychedelics as Medicine Report.
About Prohibition Partners
Prohibition Partners unlocks the potential of cannabis through data, strategy and community. We enable our clients to make better business decisions that deliver transformational growth and disrupt mainstream verticals. We work with the industry’s most influential stakeholders, some of the world’s best-known brands and an unrivalled network of analysts, innovators and advisors.
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