Pharmaceutical Grade Silica Gel Market To Grab Big Lead Growth Opportunities For By 2025|Grand View Research, Inc.
The global pharmaceutical
grade silica gel market is projected to reach a market size of USD 71.05 million by 2025, according to
a new report by Grand View Research, Inc. The pharmaceutical grade silica gel
market is expected to witness significant growth over the forecast period owing
to the increasing demand for excipients.
Pharmaceutical grade silica gel is used in a various
applications including desiccant, drug carrier, adsorbent, glidant, and other
excipients. Excipients can be used in numerous forms in food, cosmetics, and
medicine industries. They act as colorants, lubricants & glidants, binders,
disintegrants, flavoring agents, capsules, solvents, coatings, preservatives,
fillers & diluents, suspension and viscosity agents. Excipients are also
manufactured for their consumption in the cosmetics & personal care and
food industry, along with pharmaceutical industry.
The key players in this industry include Clariant International Ltd., Evonik
Industries, W. R. Grace & Co. Conn., Solvay S.A., The Dow Chemical Company
and E. I. du Pont de Nemours and Company among others. Several companies
are focusing on new product development as well as capacity expansions in order
to increase their business presence which is expected to be responsible for
intensifying the competition.
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Growing pharmaceutical industry has
propelled the growth of drug production, which in turn, has increased the
excipient consumption over the past few years. This is expected to be a major
factor fueling the demand for pharmaceutical grade silica gel. Desiccantdominated
the market for pharmaceutical grade silica gel globally. The other key
applications include drug carrier, adsorbent, and glidants.
Further key findings from the report suggest
·
Globally, adsorbent and glidant application
segments are projected to witness significant volume growth over the forecast
period, growing at CAGR of over 4% during the forecast period. This growth can
be attributed to rapid growth from the overall pharmaceutical industry.
·
Asia Pacific dominated the global
pharmaceutical grade silica gel market in 2015 with an estimated revenue of
around USD 17.10 million and is projected to grow significantly over the coming
years owing to the increasing investments from the pharma sector. Emerging
economies such as China and India are the key growth drivers in the region.
Drug carriers widely used in the drug delivery process owing to its special
features such as effective drug administration, selectivity and safety.
·
Key participants in the pharmaceutical
grade silica gel market include Clariant AG, E. I. du Pont de Nemours and
Company, Evonik Industries, Solvay SA, and W.R. Grace and Company, Dow Chemical
Company and J.M. Huber Corporation among others. In recent years, new product
developments have been the major growth strategy adopted by key market players
for strengthening their market positions.
Desiccants are used to adsorb and retain the water vapor in
a drug formulation. The presence of moisture in excess amount may damage the
effectiveness of the drug. The pharma companies are adopting the current
industry trends and altering their strategies by modifying product portfolio
and implementing cost-cutting measures. Owing to a significant growth in
specialty medicines, biotech companies are witnessing increasing investments,
which will benefit the global pharmaceutical grade silica gel market.
The manufacturers are planning to increase their operating
efficiencies, which would ultimately lead to the increasing demand for
pharmaceutical grade silica gel. Packaging has always been a key factor
determining the quality of the drug, which is ensured by the usage of
desiccants canisters. These canisters are responsible for providing protection
and maintain the effectiveness of a drug. Canisters are used for the purpose of
high-speed insertion in the table bottles. Desiccant sachets consist of silica
gel, which plays a critical role in moisture absorption and protection from any
kind of damage.
Silica gel’s excellent adsorption capacity at high relative
humidity and adsorption rate at high relative humidity have been a major factor
for its use in desiccant sachets. Rising sodium silicate prices on account of
increasing transportation and energy costs are expected to negatively impact
specialty silica market, which in turn will affect the pharmaceutical grade
silica gel market. Abundant availability of sulfuric acid in emerging economies
of Asia Pacific and MEA is expected to boost product demand over the forecast
period.
Browse Press
Release of this report:
Grand View Research has segmented the global pharmaceutical grade silica
gel market on the basis of application:
Application Outlook (Volume, Tons; Revenue,
USD Million, 2013 - 2025)
·
Desiccant
o
Scarcely soluble drugs
o
Liquid drugs
·
Drug carrier
·
Adsorbent
·
Glidant
·
Other excipients
On the basis of application, the industry has been segmented
into desiccant, the drug carrier, adsorbent, glidant and other excipients. The
drug carrier application segment has been further segregated into scarcely
soluble drugs and liquid drugs. Silica gel helps in protection of antibiotic
formulations from water vapor and moisture and improves the shelf life and
storage stability. This will help in enhancing demand. The expansion of the
pharmaceutical industry will remain a major growth contributing factor in the
near future.
Pharma grade silica gel is extensively used in the desiccant
application segment owing to its property of exhibiting a lower vapor pressure
as compared to the surrounding air. The desiccant is a hygroscopic material
that sustains the state of dryness in a drug formulation. The performance of
desiccants differs with temperature and relative & absolute humidity, and
its utilization is decided after analyzing the conditions in which it is used.
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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