The global Pharmaceutical Grade Silica Gel Market size 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 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.
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.
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Further key findings from the report suggest