Psychedelic mental health: A new avenue for curing severe mental illnesses

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  Quantumrun Foresight
• May 6, 2022

Insight summary

The rise of psychedelic research could reshape mental healthcare by offering new treatment options for conditions like PTSD and chronic pain. However, this trend also raises ethical and safety concerns, such as potential misuse and side effects, that may lead to strict regulations. For businesses and governments, this could mean the emergence of a new healthcare sector, changes in pharmaceutical revenue streams, and the need for new policies and educational programs.

Psychedelic mental health context

A growing body of research suggests that the use of psychedelics administered by mental health professionals and facilities may one day become commonplace. If so, government regulators, medical experts, and policymakers will have to increasingly collaborate on monitoring and regulating the use of psychedelic compounds in healthcare, given existing concerns surrounding their misuse for non-medicinal purposes. 

Several research projects have indicated the positive impact of psychedelic drugs for treating disorders like post-traumatic stress disorder (PTSD), anxiety, and severe depression. For example, a prominent pro-psychedelic researcher, Dr. Rick Doblin, has published research on 3,4-Methyl​enedioxy​methamphetamine (MDMA) in the Nature Journal. The study shows that clinical trials using MDMA, paired with talk therapy, showed significant improvement in patients who have severe PTSD. A separate study by the New England Journal of Medicine discussed the advantages of treating depression with psilocybin, the active ingredient in magic mushrooms. 

Furthermore, John Hopkins Medicine founded a new psychedelic research center, letting scientists experiment with magic mushrooms and other drugs to find a cure for drug-resistant mental illnesses. The psychedelic research center received USD $17 million in funding from private donors. US government funds cannot be used to research psychedelics, as most of them are illegal. However, on July 2023, a group of bipartisan legislators advocated for the inclusion of a clause in the yearly defense policy bill that would permit the scientific study of psychedelic substances. The lawmakers argue that such research could be beneficial in addressing conditions like post-traumatic stress disorder, even though there may be some reservations.The Hopkins research center is hopeful about the potential benefits of psychedelics in treating opioid addiction, Alzheimer’s disease, PTSD, depression, and various eating disorders.  

Disruptive impact

As research into the medicinal benefits of psychedelic compounds gains momentum, there's a growing likelihood that the US Food and Drug Administration will permit their use in specific, controlled settings. Experts are forecasting that substances like MDMA and psilocybin could be legalized for medical use as early as between 2023 and 2025. This development could be a game-changer in the field of pain management, offering an alternative to opioids and thereby reducing the risk of addiction. The potential to significantly reduce, if not end, the opioid crisis in the US and other countries could be a monumental shift in public health.

However, the medical community is likely to express reservations about the potential for misuse of these substances. Off-label prescriptions, where the drug is used for a purpose other than what it was approved for, could become an issue, especially if given to individuals who are otherwise healthy but are seeking to enhance their overall well-being. Additionally, psychedelics have side effects like elevated heart rate and blood pressure, which could pose risks for patients with existing heart conditions. These concerns may lead to stringent regulations and guidelines for prescribing these substances, to ensure they are used safely and effectively.

For businesses and governments, the trend toward legalizing psychedelics for medical use presents a complex landscape. Pharmaceutical companies may need to invest in extensive research and development to create safe and effective psychedelic-based medications. Governments may need to develop new policies and regulations to manage the ethical and safety concerns surrounding psychedelic medicine. These measures could include everything from setting up specialized clinics for administering these treatments to creating educational programs that inform healthcare providers and the public about the risks and benefits. 

Implications of psychedelics mental health

Wider implications of psychedelics being used in the mental health field may include: 

• Entrepreneurs and established pharmaceutical companies setting up specialized facilities to meet the demand for legal psychedelic medications, leading to a new sector within the healthcare industry focused on alternative treatments.
• Cultural shifts toward greater acceptance of psychedelic substances, setting the stage for more widespread legalization in many Western countries by the late 2030s.
• Enhanced quality of life for patients dealing with chronic pain conditions like meningitis and chronic fatigue syndrome, reducing the long-term costs associated with managing these conditions.
• Significant improvements in mental health outcomes for individuals suffering from severe disorders like PTSD, leading to reduced healthcare costs and increased workforce productivity.
• Regulatory agencies facing the challenge of creating new frameworks for the approval, distribution, and monitoring of psychedelic medications, impacting the speed at which these treatments become available.
• A surge in academic and private sector research into the long-term effects and potential applications of psychedelics, leading to a diversification of treatment options for various medical conditions.
• Ethical debates intensifying around the off-label use of psychedelics, particularly for enhancing general well-being, which may lead to stricter prescription guidelines and public discourse on drug use.
• Environmental implications as the cultivation of natural psychedelic substances like psilocybin mushrooms may need to be scaled up, requiring sustainable agricultural practices to meet demand.
• Labor market shifts as healthcare providers may need to undergo specialized training to administer and monitor psychedelic treatments.

Questions to consider

• Do you think psychedelics being used to treat addictions could lead to psychedelics themselves becoming addictive? 
• Should the use of psychedelics to treat specific illnesses be restricted?