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 here.
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 reportedly over 600 independent ketamine clinics, 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 200% yearly growth, Mindbloom reported 420% employee growth, and Delic says its net assets grew 500% in a year. Profits from ketamine grew from $8.3 million in 2017 to $185 million in 2022, according to this video report from the WSJ. Marketwatch estimates the global ketamine market will grow from $132 million in 2021 to $3.8 billion by 2027.