Lucy Scientific Discovery’s Alternative Mental Health Treatments to Provide Opportunity to Improve Mental Health

DENVER, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Lucy Scientific Discovery Inc. (NASDAQ: LSDI) is a pioneer in alternative mental health treatments and looking to grab its share of the leadership mantle, as it uncovers alternative mental health treatments.

From herbal remedies to psychedelics, like psilocybin and MDMA, Lucy Scientific is working to provide the ingredients for groundbreaking mental health therapies and are well positioned to support this space as it continues to grow.

Mental Health Refocus

Mental health issues and treatments are nearly as old as mankind, but, as mental health disorders reach epidemic proportions, affecting millions of Americans every year, it seems that the treatments are finally rapidly evolving.

While Selective Serotonin Reuptake Inhibitors (SSRIs) are usually the go to prescription, they don’t work for everyone and, as more experts recognize the debilitating side effects for many users, they are falling out of favor and forced many of those former patients to seek alternative treatments to fill the therapeutic void.

According to The Business Research Company, the Global Antidepressants market is growing at an annual rate of 5.9% and hit US $17.4 Billion, in 2023. The market size for these drugs shows not only the widespread medical prescription use, but the public acceptance of these treatments.

The Centers for Disease Control and Prevention estimated that more than 37 million Americans take antidepressants and SSRIs are just one of the prescribed options, but they account for more than 45 million units dispensed in 2022.

The limitations of SSRIs

SSRIs function by manipulating serotonin levels in the brain and can be effective for some, but, according to the Journal of Affective Disorders, they consistently fail to address the underlying issues for more than 30% of consumers. Complaints include a range of side effects from sexual dysfunction to emotional numbing for a significant percentage of users.

Giving rise to alternative medicine solutions

Lucy is one of a handful of companies in this sector that are garnering lots of attention, but the wealthy billionaire investors, such as Peter Theil and Ryan Cohen, have recently put their money to work in alternative mind medicines, bringing the credibility needed to prove the industry is ripe for innovation and growth.

Theil invested in Compass Pathways; a company focused on psilocybin research for treatment resistant depression, as reported on CNBC, and is one of many famous investors whose support indicate that this is nothing short of the beginnings of a new mega trend.