Canada Psychedelic Drugs Market Outlook

canada is emerging as a leader in the development and implementation of clinical research on psychedelic drugs, including psilocybin, ketamine, and mdma. the number of canadian clinical centers studying psychedelic drugs for mental health has nearly doubled over the past 10 years and more than fifty researchers have been forcibly recruited in the field of psychedelic-assisted therapy in the past two years. in 2018, canada became the first nation in the world to decriminalize psychedelic mushrooms, allowing for personal possession of up to 30g in the capital city of vancouver. this move had a domino effect on the state of psychedelic drug use country-wide, as organizations and users across the country have expressed enthusiasm, earnestly looking to capitalize on what they see as an important policy shift. the health benefits ascribed to psychedelic drugs are currently being challenged by canadian authorities. in 2019, health canada's novel products division announced the approval of the country's first clinical trial for the medical use of psychedelic mushrooms, to ‘examine the safety, tolerability, and efficacy of psilocybin in improving the quality of life of individuals suffering from mental illness’. this novel development has prompted the discussion of the drug's potential to be used in clinical settings. moreover, public opinion towards the development and use of psychedelic drugs has been largely positive, with researchers pushing to decriminalize psychedelic substances for mental health use in studies. this is largely driven by an influx of social media content discussing the potential of psychedelics to improve mental health; recent surveys have found that1/3 of canadians have a favourable view toward psychedelics for mental health treatments. the growing acceptance of psychedelic drugs in canada has created an environment ripe for market growth. an increasing number of companies and entrepreneurs are actively looking for ways to capitalize on canada's newfound policies. for example, journe foods, a canadian edibles retailer, recently released a series of eight psychedelic mushroom-infused beverages. as more information is gathered, it is likely that the demand for psychedelic drugs in canada will continue to accelerate over the course of the next decade. we can expect to see new policies governing clinical research, as well as novel methods of marketing and selling psychedelic products. with so much room for further exploration, it is clear that canada is primed to be a pivotal player in the future of psychedelic drug use.