Anxiety, and stress is a growing concern in Australia being addressed by ASX wellness stocks
The Calmer Co’s kava products aim to foster calmness, relaxation and better sleep
Bioxyne CEO Sam Watson says how individuals address mental health and well-being is shifting
Do you ever find yourself feeling overwhelmed in the everyday juggle of life’s responsibilities. Imagine a typical day from sunrise to bedtime. If your day is like many Australians it can be a constant balancing act of work, family, social obligations, housework, meal planning, exercise and self care.
Financial stress linked to the cost-of-living crisis is putting further pressure on people and increasing the demand for psychologists, according to the Australian Psychological Society.
Mental health, anxiety, and stress have become growing concerns in Australia with the impact widespread, affecting individuals, relationships, families, workplaces, and communities.
And while many Australians are turning to doctors and other health professionals to assist with their mental health and stress management, the ASX wellness market is also increasingly looking to provide support. Here’s some we’ve noticed.
The Calmer Co International (ASX:CCO)
CCO is dedicated to enhancing health and wellness through natural products that foster calmness, aid relaxation, and promote better sleep.
The company’s flagship ingredient, kava, sourced from the Fijian islands, has been at the forefront of a burgeoning health trend which is gaining traction in Western markets.
CEO Anthony Noble told Stockhead kava has 11 clinical trials showing the plant significantly reduces anxiety when measured by the Hamilton anxiety scale.
“It is probably the most potent natural medicine for taming anxiety available in the market,” he says.
“More than 75% of people report having stress in any given week and around two thirds of those with stress progress to having mild and moderate anxiety.”
Noble says stress and anxiety is also a growing trend among younger people under 30, who are less likely to access talk therapy or pharmaceutical treatment.
“For more than 3000 years, kava has been used by the people in the Pacific Islands,” he says.
“It has a long history of both relaxation and mediation conflict resolution showing the ability of kava to make people feel open and ready to heal.
“It is extremely relevant to what people are experiencing now in the Western world and is something that is culturally ethnobotanical and scientifically significant.”
CCO recently announced total revenues surged by 28%, surpassing $600k in May, compared to $470k in April. The company says e-commerce sales soared by 45%, reaching $16k per day in May, marking the 10th consecutive month of online sales growth.
Sales through Coles Australia also rose with orders totalling 38k units across three SKUs in May, up from 23k units in April and 16k units in March.
Bioxyne (ASX:BXN)
BXN is the parent company of Breathe Life Sciences (BLS), which wholly owns BLS Wholesalers Pty Ltd (BLWS) – awarded Australia’s first Good Manufacturing Practice (GMP) licence to manufacture psilocybin and MDMA.
BLWS is currently the only licensed Australian manufacturer of MDMA and psilocybin and also has a GMP licence to manufacture medicinal cannabis.
Australia become the first country in the world to recognise psychedelics as medicine, after the TGA approved psychedelic substances used in magic mushrooms and MDMA last year.
CEO Sam Watson says there is an acute need for accessible and effective alternative therapies supported by robust regulation to ensure patient safety and efficacy.
“In recent years, there has been a significant shift observed in how individuals address mental health and well-being, with a growing number of people turning to substances like magic mushrooms and cannabis for self-medication,” he says.
“This trend underscores both a deep-rooted desire for alternative therapies and a pressing need for robust regulation to ensure safety and efficacy.”
Watson says magic mushrooms, which contain psychoactive compounds such as psilocybin (psilocin) and other tryptamine alkaloids, have been used for centuries in various cultures for spiritual and medicinal purposes.
“In contemporary society, they are increasingly sought after for their potential to alleviate conditions such as depression, anxiety, and post-traumatic stress disorder (PTSD),” he says.
“Similarly, cannabis, with its myriad compounds including THC and CBD, has gained popularity for managing chronic pain, anxiety, and other health issues.”
Watson notes anecdotal evidence and emerging scientific studies suggest that these substances can offer significant therapeutic benefits.
“It is not widely known that MDMA was used by a few dozen psychotherapists in the US between 1977 and 1985, when it was still legal, and was showing huge promise in treating Vietnam war veterans with severe PTSD.”
Watson says the GMP licences demonstrate a commitment to the responsible manufacture of alternative medicines which can provide solutions to mental health disorders resistant to current treatments.
At Stockhead, we tell it like it is. While The Calmer Co and Bioxyne are Stockhead advertisers, they did not sponsor this article.
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