America is in a ketamine boom. The drug, which has rapid-acting antidepressant properties and somewhat psychedelic effects, is still taken recreationally by club kids and students. But in the past decade, many thousands of patients have undergone legal therapy under its influence and hundreds of ketamine clinics have sprung up across major cities. There are 12 clinics in Manhattan alone.
But the burgeoning industry, like the wider emerging psychedelic industry, is experiencing growing pains. One of the largest startup clinic chains offering ketamine treatment has just gone bust, another is in dire straits, and others face uncertainty. Why are so many ketamine clinics struggling, even as demand is increasing?
