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Mental Health Demand For Development Of Psychedelic Drug Therapies Is Increasing PALM BEACH, Fla., Jan. 12, 2021 /PRNewswire/ -- After being relegated to the margins of sincere scientific examination for about five decades, growing researchers and scientists are exploring the therapeutic value of psychedelic drugs and compounds that could be a new treatment option for people with depression. According to Data Bridge Market Research North America psychedelic drugs market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 16.3% in the forecast period of 2020 to 2027 and expected to reach USD 6,859.95 million by 2027 from USD 2,077.90 million in 2019. Growing acceptance of psychedelic drugs for treating depression and increasing prevalence of depression and mental disorders are the factors for the market growth. Data Bridge added: "Psychedelic drugs are the category of therapeutic pharmaceuticals that are responsible for instigating psychedelic expressions in the patient consuming these drugs with the help of serotonin receptor agonism. This subsequently results in a number of changes in the visual and auditory functions of the consumer. This alteration of bodily function is also combined with changes in the consciousness causing a change of mindset amongst the patients. A majority of the drugs produced for these functioning include being developed from LSD, ecstasy, ketamine amongst various others." Active companies in the markets this week include: