OTC Pharmaceuticals - Switzerland

Switzerland

Revenue in the OTC Pharmaceuticals market amounts to US$1,806.00m in 2024. The market is expected to grow annually by 3.37% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$655.90m in 2024.
In global comparison, most revenue is generated in the United States (US$41,240m in 2024).
In relation to total population figures, per person revenues of US$204.00 are generated in 2024.
In the OTC Pharmaceuticals market, 17.0% of total revenue will be generated through online sales by 2024.

Key regions: Worldwide, India, Philippines, United States, Europe

Definition:
The Over-the-Counter Pharmaceuticals market includes non-prescription medications, treatments, and healthcare products that are available directly to consumers without a prescription from a licensed healthcare professional. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere such as supermarkets, and online retailers. Sales by hospitals are not included.

Structure:
The market is subdivided into Analgesics, Cold and Cough Remedies, Digestives and Intestinal Remedies, Skin Treatment, Vitamins and Minerals, Hand Sanitizer, Eye care, Sleep aids, Wound care, and Other OTC Pharmaceuticals. The Analgesics market covers non-prescription pain-relief medications which help to relief aches, pains and fevers. Cold & Cough market covers non-prescription remedies aimed at relieving nasal congestion, coughing, sore throat, and related cold discomforts. The Digestives and Intestinal Remedies market encompasses non-prescription products designed to alleviate symptoms related to digestive discomfort and intestinal issues. The Skin Treatment market includes non-prescription medications formulated to address various dermatological concerns such as acne, eczema and dryness. The Vitamins and Minerals market comprises non-prescription dietary supplements containing essential nutrients such as vitamins and minerals. The Hand sanitizer market covers sanitizing products which are applied on hands to effectively reduce the presence of bacteria and viruses. The Eye Care market covers non-prescription products to address common eye-related discomforts such as dryness, irritation or redness. The Sleep Aids market covers non-prescription products designed to promote relaxation, alleviate insomnia, and improve sleep quality. The Wound Care market includes non-prescription products designed to facilitate wound healing and prevent infection.

Additional information:
OTC Pharmaceuticals comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Analyst Opinion

The OTC Pharmaceuticals market in Switzerland is experiencing steady growth, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Swiss consumers have a strong preference for self-care and self-medication, which has contributed to the growth of the OTC Pharmaceuticals market. They value convenience and accessibility, and often opt for over-the-counter products for common ailments and minor health issues. This preference is driven by factors such as the ease of purchasing OTC medications without a prescription, the ability to treat common ailments at home, and the cost-effectiveness of OTC products compared to prescription medications.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Switzerland is the growing demand for natural and herbal remedies. Swiss consumers are increasingly seeking natural alternatives to traditional pharmaceutical products, driven by a desire for more holistic approaches to health and wellness. This trend is reflected in the availability of a wide range of natural and herbal OTC products in the market, including supplements, vitamins, and homeopathic remedies. Another trend in the market is the increasing focus on preventive healthcare. Swiss consumers are becoming more proactive in managing their health and are willing to invest in OTC products that help them prevent illness and maintain overall well-being. This trend is driving the demand for OTC products such as vitamins, dietary supplements, and preventive medications.

Local special circumstances: Switzerland has a well-developed healthcare system that emphasizes self-care and self-medication. The country has a high level of healthcare literacy among its population, which contributes to the strong demand for OTC Pharmaceuticals. Additionally, Switzerland has a large aging population, which is more likely to require OTC medications for chronic conditions and age-related health issues. This demographic factor further fuels the growth of the OTC Pharmaceuticals market in the country.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Switzerland is also influenced by underlying macroeconomic factors such as the country's stable economy and high disposable income levels. Switzerland has one of the highest per capita incomes in the world, which allows consumers to afford OTC medications and healthcare products. The country's strong economy and high standard of living also contribute to a favorable business environment for pharmaceutical companies, encouraging innovation and product development in the OTC sector. In conclusion, the OTC Pharmaceuticals market in Switzerland is experiencing steady growth due to customer preferences for self-care and self-medication, trends in the market such as the demand for natural and preventive healthcare products, local special circumstances such as a well-developed healthcare system and an aging population, and underlying macroeconomic factors including a stable economy and high disposable income levels. These factors collectively contribute to the positive outlook for the OTC Pharmaceuticals market in Switzerland.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.