Ketamine: psychedelics meet hyper-capitalism

This is a story from our Ecstatic Integration newsletter. If you are interested in psychedelics and other forms of ecstatic experience, and how to integrate them into western cultures, sign up <a href="https://ecstaticintegration.substack.com/p/ketamine-the-psychedelic-renaissance" rel="noopener ugc nofollow" target="_blank">here.</a> Ketamine clinics are booming across the US. According to psychedelic fund PsyMed, there were around 20 ketamine clinics in 2019. By the end of last year, there were <a href="https://www.proactiveinvestors.com/companies/news/996990/irwin-naturals-reaches-binding-agreement-to-acquire-florida-ketamine-clinic-dura-medical-996990.html" rel="noopener ugc nofollow" target="_blank">reportedly over 600 independent ketamine clinics</a>, as well as chains like Mindbloom, Field Trip and Delic with multiple clinics and home delivery services. Since the pandemic began, ketamine start-ups have reported rapid growth: in 2022, Field Trip reported <a href="https://www.meetfieldtrip.com/presentations/default.aspx" rel="noopener ugc nofollow" target="_blank">200% yearly growth</a>, Mindbloom reported 4<a href="https://growjo.com/company/Mindbloom" rel="noopener ugc nofollow" target="_blank">20% employee growth</a>, and Delic says its net assets <a href="https://www.prnewswire.com/news-releases/delic-2021-revenue-shows-strong-growth-as-nations-largest-ketamine-clinic-chain-continues-expansion-of-mental-health-wellness-services-301590866.html" rel="noopener ugc nofollow" target="_blank">grew 500% in a year. </a>Profits from ketamine grew from $8.3 million in 2017 to $185 million in 2022, according to <a href="https://www.youtube.com/watch?v=Hmgevoddb3w" rel="noopener ugc nofollow" target="_blank">this video report from the WSJ</a>. Marketwatch <a href="https://www.marketwatch.com/press-release/ketamine-treatment-market-2023-key-aspects-of-the-industry-by-segments-to-2029-2023-01-06" rel="noopener ugc nofollow" target="_blank">estimates</a> the global ketamine market will grow from $132 million in 2021 to $3.8 billion by 2027. <a href="https://julesevans.medium.com/ketamine-psychedelics-meet-hyper-capitalism-4f17a622060">Visit Now</a>