Other OTC Pharmaceuticals - Switzerland

Switzerland

Highlights

In Switzerland, the revenue in the Other OTC Pharmaceuticals sector reached US$655.90m in 2024.
It is projected that the market will experience an annual growth rate of 1.16% (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue in this market, amounting to US$7.17bn in 2024.
In terms of per capita figures, the revenue generated per person in Switzerland is US$74.10 in 2024.
Switzerland's Other OTC Pharmaceuticals market is witnessing a surge in demand for natural and homeopathic remedies.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other OTC Pharmaceuticals market in Switzerland has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in Switzerland have been shifting towards self-care and self-medication, leading to an increased demand for over-the-counter (OTC) pharmaceutical products. Consumers are becoming more proactive in managing their health and are seeking convenient and accessible solutions for common health issues. This has created a favorable environment for the growth of the Other OTC Pharmaceuticals market, as these products offer a wide range of options for self-treatment.Trends in the market indicate a growing demand for natural and herbal remedies, as consumers are becoming more conscious of the potential side effects of synthetic drugs. They are seeking alternative solutions that are perceived as safer and more aligned with their overall wellness goals. This trend is driving the development of new products in the Other OTC Pharmaceuticals market, including natural supplements and homeopathic remedies.Another notable trend in the market is the increasing popularity of online retail channels for purchasing OTC pharmaceutical products. The convenience and accessibility of online shopping have attracted a growing number of consumers who prefer to browse and purchase products from the comfort of their own homes. Online platforms also offer a wider variety of products and competitive pricing, further fueling the growth of the Other OTC Pharmaceuticals market in Switzerland.Local special circumstances in Switzerland, such as the country's high standard of healthcare and strong regulatory framework, have contributed to the growth of the Other OTC Pharmaceuticals market. The Swiss healthcare system emphasizes patient empowerment and self-care, which aligns with the customer preferences for OTC products. Additionally, the strict regulations ensure the safety and quality of OTC pharmaceuticals, giving consumers confidence in their effectiveness.Underlying macroeconomic factors, such as the country's stable economy and high disposable income levels, have also played a role in the development of the Other OTC Pharmaceuticals market in Switzerland. The strong purchasing power of Swiss consumers allows them to invest in their health and well-being, driving the demand for OTC products.In conclusion, the Other OTC Pharmaceuticals market in Switzerland is experiencing growth due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. The shift towards self-care, the demand for natural remedies, the popularity of online retail channels, and the country's high standard of healthcare and regulatory framework all contribute to the positive development of the market.

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.