The psychedelic sector has been attracting the attention of investors, and research has increased due to the acceptance and decriminalization of these drugs. Ketamine, specifically, has been a targeted focus for investments in alternative medicine. Ketamine clinics are opening across the country, and this market is growing in leaps and bounds. The good news: more money in this sector also means more funding for research initiatives.
Recreational use of psychedelics became popular in the 1960s, which lead the U.S. government to classify them as “drugs of abuse.” Recent clinical studies have shown mounting evidence, however, that some psychedelics can help patients with certain mental illnesses, primarily in situations where nothing else has worked. When it comes to advances in mental illness treatments, Allan Young of King’s College, London stated, “We haven’t had anything really new for about 50 or 60 years.” The discovery of ketamine’s impressive antidepressant qualities was the biggest breakthrough in depression treatment since SSRI antidepressants were discovered in the 20th century. This has helped shift the perception of drugs like ketamine from being “party drugs” to powerful forms of medicine…and health and technology investors are paying attention.
Forging this pathway forward are some early signs of support from regulators. Several notable milestones involving the FDA include their “Breakthrough Therapy” designation, given to Compass for their research into psilocybin for depression; the expedited approval process for esketamine, and the fact that ketamine has been an FDA-approved anesthetic since 1970. Involvement of the FDA with these drugs is a good signal for investors, as it presents a reduced risk and the potential for a long-term return on investment.
It is estimated that by 2026, the market for anxiety and depression treatment will reach $18.9 billion in the US. This is expected to inundate the mental health industry even more than it already is. Couple this with the fact that almost 30% of depression cases are treatment-resistant, we can expect high demand for more effective therapies. With this in the forecast, investor interest in psychedelics has snowballed to where big-name executives, celebrities, and universities are dumping money into this sector’s future.
“People are getting behind psychedelic-assisted therapies because they are desperate for real solutions that actually work, and for many, this treatment does,” said Liana Gillooly, a development officer at MAPS. There are high hopes for medical breakthroughs when it comes to psychedelics. Those investing in the industry believe that these substances show promise of actually curing mental illnesses, versus just treating them.
For now, ketamine remains available at private clinics, like ours, across the country. If you live in the Greater Boston area and are suffering from depression, PTSD, anxiety, bipolar disorder, or any other stubborn mental health condition, please contact us or send us a message using the brief form below. Not everyone is a candidate for ketamine treatments, but we can help work with you and your entire care team to determine if you are a good fit.
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Contact out ketamine infusion therapy center today for a free consultation, or simply complete the brief form below and a member of our clinical team will reach out to answer your questions and address your concerns.