Psychedelics, like psilocybin could soon revolutionize the $2.5 trillion mental health market. All thanks to some big catalysts.
For one, “Traditional medicines that are treating things like depression, addiction, and anxiety really are seeking to numb and mask the issues that surround these illnesses. So, things like Xanax, while they might make you feel better, they can also be highly addictive and are not dealing with the underlying problem,” MindMed’s co-founder and co-CEO JR Rahn told Yahoo.
Two, there’s hope the U.S. could even see even more legalization after Oregon, Oakland, and Santa Cruz legalized the use of psilocybin.
Three, Canada, which allowed palliative health patients to use psilocybin to relieve end of life suffering will now allow some professional to use the drug to help develop therapies for future use. In fact, “Health Canada says it granted 16 exemptions to a selection of nurses, doctors, therapists and social workers, allowing them to possess and use psilocybin for personal training without fear of prosecution under the country’s drug laws,” as reported by CBC.
These are just some of the major catalysts that could drive even more interest in psychedelics in New Year 2021.