The current wave of surging psychedelic research and mainstream popularity has been dubbed the psychedelic renaissance. Decades after they were prohibited, hallucinogenic drugs are revealing astonishing mental-health benefits in clinical trials.
With people becoming more cognizant of the side effects of traditional psychiatric medications, many individuals are looking at psychedelic-assisted therapy as a safer and more effective alternative. The industry is still in its infancy, however, and the direction it will take if the federal government and states pass legislation allowing psychedelic use is still unknown.
According to Gwella Mushrooms CEO Peter Reitano, the psychedelics market will be dominated by the wellness segment rather than pharmaceutical applications. His point of view is quite unique as a majority of companies in the nascent psychedelic space are looking to develop psychedelic therapies for pharmaceutical applications.
Based in Canada, Reitano’s psychedelics company is hedging its bets on the wellness market becoming the most dominant sector in the psychedelics industry. Reitano believes that as the industry grows, the most significant application for psychedelic drugs will be as supplements meant to improve your well-being rather than medications meant to alleviate medical conditions.
At the moment, Reitano said that there is a thin line in regard to what regulators allow, what psychedelics can do, and what the public is willing to accept when it comes to treating people with psychedelics. His company is looking to corner the wellness segment with low-dose psychedelics taken as supplements.
Gwella’s Mojo Microdose Gummies boost wellness by improving oxygen levels, boosting the immune system, promoting calm and clarity, and increasing energy. Reitano described microdosing as consuming a “low, subperceptual dose” of a hallucinogenic drug to get the benefits without having to go through the psychedelic experience.
He explained that Gwella is developing ways to help people improve their lives through a variety of facets, be it cognitive enhancement, wellness or creativity. As such, the psychedelics company has developed products that are additive to one’s life and enhance their wellness.
Furthermore, the company has been able to avoid the restrictions placed on the pharmaceutical markets, and its products can be purchased online in Canada, Europe and the United States. Reitano said that Gwella’s psychedelic micro dose products have been in the market for a year and have generated more than $1 million in revenue.
Gwella can focus on the wellness front while others, such as atai Life Sciences N.V. (NASDAQ: ATAI) explore the pharmaceutical angle. All efforts will ultimately converge with regards to advancing the psychedelics industry.
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