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The psychedelic medicine industry is growing. 2011 was a seminal year for the space, with advancements in a variety of sectors. There was a wave of new psychedelic firms going public, with big names like MindMed and Atai Life Sciences listing on major stock exchanges like the NASDAQ, and increased acceptance of psychedelics by institutional investors.
As 2022 gets rolling, I expect the upcoming year to continue to add to the evolution of the industry. But what will catalyze this continued growth? From my perspective, a variety of forces. I’ve handled PR for the largest publicly traded companies in psychedelics for two years now and own a business publication that focuses on psychedelics. We’re seeing a seismic shift in the sector, from grassroots advocacy for decriminalization to media outlets educating the public and destigmatizing psychedelics. And then, of course, there’s capital.
Investors Are Driving the ‘Shroom Boom.’
A recent market research report published by CB Insights showed that funding for psychedelic medicine companies was on track to surpass $700 million in 2021, more than eight times higher than 2019’s numbers and getting close to doubling 2020’s figures.